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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldman Sachs profits up 58%

Revenues rose seven percent to $11.3 billion.
  • In the fourth quarter, Goldman Sachs' revenues from equity trading surged 26 percent, while the bank's own holdings in public equities also enjoyed a hefty increase.
  • Rival financial heavyweight Morgan Stanley reported a 35 percent drop in profits to $1.4 billion on a one percent rise in revenues to $12.9 billion.

Al Arabia subsidiary wins Dubai contract

The contract was awarded by Dubai Roads and Transport Authority.
  • The contract is valued at AED 522.84 million ($142.34 million). Its duration is 10 years and five months, including a preparation period of up to 31 days.
  • The billboards include 85 digital billboards and 209 static billboards of different types and sizes, with the ability to transform the static billboards into digital billboards.

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.
  • The customer deposits increased from US$3.3 billion in 2022 to US$3.4 billion in 2023.
  • The capital adequacy ratio increased from 14.4 percent in 2022 to 15.2 percent in 2023.

Aramco Digital, Intel to join hands

The aim is to help develop of Open RAN technologies.
  • The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the Kingdom.
  • This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification.

Mammoet, Aertssen sign agreement

The two firms will provide heavy-lifting solutions in Qatar.
  • Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
  • The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.

PureHealth buys Circle Health

The deal signifies PureHealth’s operational capabilities.
  • The completion of this transaction further strengthens PureHealth’s commitment to becoming a leading global player in healthcare.
  • The company’s expansion into the UK healthcare market reflects its focus on advancing the science of longevity and unlocking time for humanity.

Delta reports profit jump

Its revenue jumped to $14.2 billion for the quarter.
  • The company reported net income of more than $2 billion for the October to December period, up from $828 million for the same period in 2022
  • Delta shares slumped by more than eight percent around midday on Friday, while rival United Airlines saw its shares plunge by 9.4 percent

ADQ, ADNEC Group sign agreements

They will buy 40.5% stake in TMG Holding’s hospitality business.
  • ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.
  • ICON is a leading player in Egypt’s luxury and upscale hospitality market, with a track record of building and owning some of the most celebrated luxury hotels in Egypt.

QNB net profits up 8% in 2023

The QNB Group posted a net profit of $4.25 billion.
  • The bank said that earnings per share (EPS) amounted to QR 1.55 as of 31st December 2023 compared to QR 1.44 for the same period in 2022.
  • The bank's board has announced the distribution of a cash dividend of 65 percent of the nominal share value (QR 0.65 per share).

Tawazun Council acquires TASNEEF

Subsidiaries of TASNEEF were also acquired.
  • This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
  • TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.

Google says to buy Wiz for $32 bn

The all-cash deal brings Wiz into the Google Cloud operation.

Latest News

Lamborghini sales up in 2023

The deliveries sped up 9.5 percent to 10,112 vehicles.

EGA to acquire Leichtmetall

EGA is to buy 100 percent of firm from Leichtmetall Holding.

Borse Dubai to sell Nasdaq shares

The sale is poised to generate $1.59 billion.

Most Read

AstraZeneca to buy Fusion

The $2.4bn deal is its latest expansion into cancer treatments.
  • Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
  • AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news

Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.
  • The company's revenue increased by 22.6 percent in 2023
  • Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.

Du, Samsung ink agreement

The two companies have signed a three-year partnership.
  • This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
  • The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.