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Company News

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

Air Arabia shareholders approve 30% dividend

The company reported a record 45% increase in profit

Business

Al Rajhi profit up 26%

Operating income for 2025 increased 22% to SAR 39 bn.

Business
Business

Embracer sells Borderlands

The sale is expected to be completed by June-end .
  • The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
  • Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K
Business

BYD posts record 2023 profit

The Shenzhen-based firm is now moving quickly overseas.
  • BYD overtook Elon Musk's Tesla in the fourth quarter of 2023 to become the world's top seller of EVs.
  • The figure is in line with a forecast issued by the firm in late January of 29-31 billion yuan ($4bn - $4.3bn)
Business

RSG, Hyundai Motor ink pact

The two firms will explore opportunities in various areas.
  • The two parties will focus on validating and deploying Hyundai Motor Group's eco-friendly mobility solutions.
  • They will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility and maritime vessels.
Business

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution
  • ESA will benefit from a streamlined and integrated system, improving visibility and control over all of its operations.
  • ESA will be using an integrated supply chain model that eliminates process silos, predicts disruptions.
Business

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
Business

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
Business

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

Borse Dubai to sell Nasdaq shares

The sale is poised to generate $1.59 billion.
  • Borse Dubai is selling 27 million shares at $59 each in a secondary offering, a decision revealed in a stock exchange filing
  • The offering also grants underwriters a 30-day option to acquire up to four million additional shares of Nasdaq
Business

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.
  • Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
  • The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030

AstraZeneca to buy Fusion

The $2.4bn deal is its latest expansion into cancer treatments.
  • Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
  • AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news

Air Arabia shareholders approve 30% dividend

The company reported a record 45% increase in profit
Business

Company News

Borouge 2024 net profit $1.24bn

ADQ, Orion to establish JV

Alpha Dhabi acquires interest in NCTH

Samsung says planning job cuts

GM reports US sales dip, that of EVs grew

Latest News

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
Business

Samsung says planning job cuts

The layoffs could affect about 10 percent of the workforce.
Business

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.
Business

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Business

Intel to slash workforce

The company to cut approximately $20 billion in expenses this year.
  • The plan to cut approximately $20 billion in expenses this year came as Intel reported a loss of $1.6 billion in the recently ended quarter
  • Intel reported having 124,800 employees at the end of last year, meaning the layoffs could hit about 18,000 positions
Business

Boeing guilty plea deal filed

The plea deal must be approved by a federal court judge.
  • The plea deal must be approved by a federal court judge and it includes an additional $243.6 million to be paid by Boeing on top of a previous fine of the same amount
  • Boeing conspired to defraud US air traffic safety regulators about the Max 737 while the aircraft was being certified, according to the filing
Business

Tesla auto deliveries beat expectations

Electric carmaker Tesla saw its shares surge on Tuesday.
  • Tesla said it delivered around 444,000 vehicles worldwide in the April-June period, exceeding consensus estimates compiled by FactSet
  • Of the total figure, 422,405 involved Model 3 and Model Y vehicles. Tesla gave no detailed breakdown of the other autos delivered