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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.

ADNIC okays 45% dividend for 2024

The company achieved its highest ever revenue and net profit.

Infosys lowers revenue forecasts

Its net profit fell 7.29% Y-o-Y in the three months to December.
  • It reported a decline in profit for the October-December quarter, and revised its revenue growth guidance to 1.5-2.0 percent in constant currency terms
  • A big employer of India's engineering graduates, the company upset markets last quarter after it said it would halt campus hiring in an effort to cut costs

OYO New Year Eve bookings up 64%

Oman emerges top performer in the GCC region.
  • Saudi Arabia with 59 percent and United Arab Emirates with 31 percent growth were the other top performers.
  • Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.

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.

Borouge proposes share buyback

The company had posted a 24% YoY increase in net profit to $1.24bn.

Latest News

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.

AstraZeneca to buy Fusion

The $2.4bn deal is its latest expansion into cancer treatments.

Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.

Most Read

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
  • The London-listed group added that the transaction would bolster its rare diseases division Alexion.
  • AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.

DP World 2023 profit is $1.5bn

The company's revenue grew 6.6 percent to $18.25 billion.
  • DP World logged a 13 percent decarbonization in Scope 1 and Scope 2 carbon emissions.
  • The cash generated from the company's operating activities rose to $4.5 billion in 2023.

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