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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.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Borouge signs supply agreement

The two-year agreement is worth AED 160 million ($43.56 million).
  • Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
  • The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.

GSK to buy Aiolos Bio

The focus is on an asthma medication still at the testing stage.
  • The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma
  • AIO-001 was exclusively licensed to Aiolos outside of China by Jiangsu Hengrui Pharmaceuticals, which initially developed the asthma treatment

EVA Air orders 33 Airbus planes

The deal could be worth as much as $8.5 billion.
  • The 33 planes ordered include 18 long-range A350-1000 planes and 15 single-aisle A321neo models
  • The wide-bodied A350-1000 type can seat up to 410 passengers and travel up to 18,000 kilometers non-stop

Mubadala lists dollar, dirham bonds

This is Mubadala's seventh listing of a green debt instrument on ADX.
  • The listings on ADX included Mubadala’s highly oversubscribed debut Green Bond and Mubadala’s inaugural dirham-denominated bond.
  • The listing of Mubadala’s green bond marks the seventh listing of a green debt instrument on ADX.

Nakilat expands its fleet

The Qatari firm placed orders for 6 carriers with HSHI.
  • Upon delivery, Nakilat's LNG fleet will expand to 71 vessels, and the LPG fleet will grow to eight vessels with the addition of the four new vessels.
  • The orders include two cutting-edge LNG carriers with a cargo capacity of 174,000 cum each and four modern Very Large LPG/ Ammonia Gas carriers.

Rolls-Royce makes record deliveries

It delivered 6,032 cars in 2023, the highest in its 119-year history.
  • The United States was the group's biggest market in 2023, followed by China.
  • The emblematic British car brand became part of German auto giant BMW in 1998.

Baims acquires Orcas Edtech

The firm plans to incorporate one-to-one tutoring services.
  • Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
  • Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.

Bahrain Steel raises $450m SLL

The company produces and supplies high-grade iron ore pellets.
  • The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
  • The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.

ADQ appoints new ADX chairman

The company also appointed two new Board directors.
  • Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
  • Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.

Avalon sets sights on Tadawul listing

The firm will offer 6 million shares in its Initial Public Offering.
  • The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
  • In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

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Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.

Du, Samsung ink agreement

The two companies have signed a three-year partnership.

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.

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Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.
  • The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
  • The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros

Lego net profit falls

Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
  • The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
  • Sales made directly to consumers through Lego's physical and online stores rose by four percent.

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.
  • The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
  • Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.