Tesla Q2 sales down 13.5%
Business
TomTom cuts 300 jobs
Business
Aldar nets $953m in sales at Fahid
Geostrategy
Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
Equinor signs $27 bn gas deal
Business
Etihad Q1 profit $187 million
Business
Yalla Group Q1 revenue $83m
Business
Business
EDF’s net profit is $10.8bn
EDF cut its large debt by increasing nuclear production.
- Sales slipped 2.6 percent to 139.7 billion euros, but the group managed to slice debt by 10 billion euros to 54.4 billion
- EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Business
Google AI research hub in Paris to host 300 experts
The new hub part of a trend for big tech firms to base teams in European centers.
- In recent years, Google has poured investment into its engineering facility in Zurich, which also houses AI-focused teams from Meta, Apple and Microsoft.
- The French capital has long pushed to be regarded as a cutting-edge hub for tech firms, and Meta established an AI research team there in 2015
Business
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
- The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
- Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
- Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
- A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.
Business
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
- ESG’s total assets witnessed a massive rise, standing at US$833 million.
- This is a significant 168 percent growth compared to December 2022.
Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.
- Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
- Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
Business
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.
- Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
- On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
Company News
‘Wadeem’ sold out for $1.49bn
Business
Tesla Q2 sales down 13.5%
Business
TomTom cuts 300 jobs
Business
Aldar nets $953m in sales at Fahid
Geostrategy
Latest News
Equinor signs $27 bn gas deal
Business
Etihad Q1 profit $187 million
Business
Thousands of carpets sunbathe at Turkish resort
From June-Sept, in harvested fields cleared of stubble, merchants bring their cargo to age in the sun, tempering the bright...
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Business
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
- Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024.
- Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period.
Business
AstraZeneca to invest $50bn in US
Bulk of funds to go into a Virginia manufacturing center.
- "Today’s announcement underpins our belief in America’s innovation in biopharmaceuticals," the statement quoted CEO Pascal Soriot as saying.
- The company said it expects 50 percent of its revenue to come from the United States by 2030.
Business
UAB net profit up by 50% for H1
Total assets increase by 11 percent.
- Total income rose by 24 percent YoY to AED 374 million.
- The increase in net profit reflects significant growth in total assets—up 11 percent from December 2024—and the Bank’s disciplined approach to risk management.