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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.

Cerberus buys HSBC France retail

The takeover was finalized for an undisclosed amount.
  • The operation will see HSBC France's nearly 250 retail branches with their 800,000 clients and 3,500 staff become CCF
  • The move is part of London-headquarters HSBC's efforts to simplify and refocus operations on its major region of Asia

Albilad Capital to pay dividend 

The distribution ratio of the NAV stands at 0.10 percent.
  • Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.
  • The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance

Makeen, Rolls-Royce forge partnership

They will manufacture, test, sell and service mtu engines in Saudi.
  • The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
  • Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.

Bank takes over Amiantit subsidiary

The bank will absolve Amiantit of all its financial obligations.
  • The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
  • Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.

Huawei says expects higher revenue

The company is leading equipment manufacturer for 5G.
  • Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
  • In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year

Xiaomi launches first electric car

The car manufactured by Xiaomi likely to enter market by 2025.
  • Xiaomi boss Lei Jun took to the stage in Beijing Thursday to unveil the SU7, a sedan that is scheduled to enter the market in 2025
  • Xiaomi announced in 2021 to enter the highly competitive sector of electric vehicles manufacturing

QatarEnergy, Shell sign agreement

QatarEnergy will supply 18m barrels of crude oil per year to Shell.
  • QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
  • "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy

Apple to appeal US watch ban

The company contends that the ITC finding was in error.
  • The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online
  • The ban is the latest legal tussle involving big tech companies over valuable patents that has also seen Google battle in court against Sonos in a fight over speaker tech

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.

Saudi Chemical Co announces dividend

The company will distribute $11,385,120 to its shareholders.
  • Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
  • Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value

DP World posts record $20bn revenue

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

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Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.

Lego net profit falls

Its net profit fell five percent to 13.1 billion kroner ($1.24bn).

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.

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Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
  • Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
  • The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.

TECOM 2023 net profit $299m

Revenue in 2023 grew by 10 percent YoY to $599 million.
  • The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus
  • TECOM Group committed to paying a dividend amount of $217 million per annum through September 2025.

JetBlue, Spirit Airlines cancel merger

Earlier, a federal judge ruled it violated US antitrust law.
  • Shares of Spirit slumped 14.5 percent in early trading Monday, while JetBlue rose 3.9 percent
  • Spirit said it has enlisted advisors on efforts to refinance and reduce debt payments