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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Perplexity eyes TikTok buy

TikTok faces a deadline to divest from its Chinese owner or be banned in the US.

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.

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.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

Latest News

Embracer sells Borderlands

The sale is expected to be completed by June-end .

BYD posts record 2023 profit

The Shenzhen-based firm is now moving quickly overseas.

RSG, Hyundai Motor ink pact

The two firms will explore opportunities in various areas.

Most Read

Nasdaq edges to record

The Dow Jones Industrial Average dropped 0.8 percent.
  • All three indices finished at records the last two days, on the back of Wednesday's Federal Reserve meeting
  • The Dow Jones Industrial Average dropped 0.8 percent to 39,475.90, retreating from a serious drive at the 40,000-point level

Lamborghini sales up in 2023

The deliveries sped up 9.5 percent to 10,112 vehicles.
  • 2023 was the best year ever recorded," the brand said in a press release, with sales up 12.1 percent to US$2.9 billion
  • Operating profit reached $785 million, up 17.8 percent, with operating margins widening to 27.2 percent, said Lamborghini

EGA to acquire Leichtmetall

EGA is to buy 100 percent of firm from Leichtmetall Holding.
  • The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals.
  • Leichtmetall’s production mainly consists of hard alloy billets up to 1,150 millimetres in diameter