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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.

stc net profit for 2024 $6.58bn

This is an increase of 85.7 percent over the previous year.

Bayanat, Yahsat to merge           

It will benefit from revenue synergies, economies of scale.
  • The merger will create an AI-powered space technology champion in the MENA region with an implied market capitalization of over US$4 billion.
  • The combined entity will be vertically integrated and optimally positioned to capture regional, global opportunities in geospatial and mobility solutions.

Lufthansa orders planes for $9 bn

The airline ordered 40 planes each from Boeing and Airbus.
  • The Airbus planes are intended to be used by Lufthansa's new regional carrier, City Airlines, which is due to start operating in summer 2024.
  • The aircraft, the first of which will be delivered in 2026, will be deployed on short-haul routes from Frankfurt and Munich.

Mubadala Energy makes gas discovery

This is the company's second successful well in the Andaman area.
  • The latest discovery comies after the success of Timpan-1 in Andaman-II, which itself came after the success of Cengkih-1 in our SK320 in Malaysia.
  • The well encountered an extensive gas column with a thickness of over 230 meters in an Oligocene sandstone reservoir.

AviLease, SDH Wings Sign MoU

The MoU will expand SDH Wings' portfolio of aircraft.
  • AviLease acquired a 10 percent share of SDH Wings as part of the recently completed acquisition of the aircraft leasing platform of Standard Chartered.
  • AviLease and SDH Wings have already identified the first five new technology narrowbody aircraft from AviLease’s owned portfolio that are now under LOI.

Japan’s Nippon to acquire US Steel

Nippon Steel will also assume the US firm's debt.
  • Nippon Steel will acquire US Steel in an all-cash deal at $55 per share, a 40 percent premium above its closing price on December 15
  • US Steel launched a strategic review in August after receiving several unsolicited offers for a partial or total takeover.

Abu Dhabi fund CYVN invests $2.2bn in Nio

This follows an earlier investment of $738.5 million by CYVN in July.
  • The investment for Nio, one of US-based Tesla's rivals in China, comes as the Shanghai-founded business remains largely loss-making.
  • CYVN, an investment vehicle based in Abu Dhabi, had made an investment of $738.5 million by CYVN in July.

KIPCO sells its stake in GIG

The deal is valued at 256 million Kuwaiti Dinars ($832 million).
  • The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
  • The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies

Hyundai Motor, Mubadala ink MoU

The two firms will seek to unlock investment opportunities.
  • The agreement between the two firms will allow both parties to jointly invest and share expertize.
  • Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.

ADNOC to buy stake in Fertiglobe

ADNOC to buy OCI’s entire shareholding in Fertiglobe.
  • Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
  • It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.

ENEC, CNNC sign MoU

Both the firms will offer their expertise in the sector.
  • The two firms will collaborate on identifying potential development and co-investment opportunities for new international nuclear energy plants.
  • They will form a Joint Working Group to leverage their strengths in project management, nuclear technology development and implementation.

stc net profit for 2024 $6.58bn

This is an increase of 85.7 percent over the previous year.

Latest News

Salik revenue soars to US$574m

Toll usage revenue rose 11.7% YoY to US$502million.

GAS, SPPC ink two contracts

The duration of each contract is of 22 months.

ADIB 2023 net profit $1.4bn

The bank achieved a Return on Equity of 27.1 percent.

Most Read

Chevron $53bn Hess deal in danger

Rivals' challenge to the control of a key oil asset can derail the acquisition.
  • The issue concerns Hess's 30 percent stake in the Stabroek Block offshore Guyana, a mammoth oilfield that was a driver of the takeover.
  • Stabroek is operated by US giant ExxonMobil, which has a 45 percent stake. Chinese company Cnooc holds the remaining 25 percent of the project.

AI entity is Board Observer in IHC

IHC is a pioneer in leveraging AI for decision-making.
  • Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
  • This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.

Goldman Sachs, Mubadala ink pact

The two firms have signed a $1 billion private credit deal.
  • The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
  • This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.