UAB net profit up by 50% for H1
Business
ADNOC shifts OMV stake to XRG
Business
TSMC’s H1 revenue up 40 percent
Business
‘Wadeem’ sold out for $1.49bn
Business
Tesla Q2 sales down 13.5%
Business
Business
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.
- Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
- Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.
Business
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
- The transaction includes Jeppesen, an 81-year-old aviation navigation company that Boeing acquired in 2000.
- Boeing chief executive Kelly Ortberg has described targeted divestitures as a way to improve the company's financial position after a series of losses.
Business
TSMC first-quarter net profit soars
Its net revenue for the quarter soared nearly 42%.
- TSMC is the world's largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.
- Demand for chips has soared in recent years with the growth of AI, but there are fears that Trump's far-reaching tariffs could drive up consumer prices and hurt chipmakers.
Business
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.
- Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with Crown Prince Mohammed bin Salman.
- However, demand for EVs is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a liter costing just $0.62.
Business
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTex
- Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water.
- The deal bolsters Mubadala Energy's growth plans to invest across the gas value chain in key energy hubs around the world.
Business
Borouge to increase dividend from 2025
The company okayed $650 million final dividend for 2024.
- At the current Borouge share price, this would give investors a 40 percent minimum cumulative dividend return from 2025 to 2030, the highest in the UAE.
- The AGM also approved a share buyback of up to 2.5 percent of outstanding shares via open-market transactions, subject to market conditions and regulatory approvals.
Business
TikTok’s US future uncertain
It must find non-Chinese owner to avoid ban.
- In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
- Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.
Business
Tesla Q1 sales sink 13 percent
The dip occurred amid lower production during factory upgrades.
- Musk's electric vehicle company delivered 336,681 autos in the quarter ending March 31, missing analyst expectations.
- Tesla shares fell more than six percent in early trading after the deliveries fell by more than expected from the year-ago stretch. Shares later partially rebounded.
Business
AD Ports Group 2024 revenue $4.70bn
The Group's EBITDA increased by 69 percent YOY.
- All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
- The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.
Business
Tesla sales tumble in Europe in Q1
The company suffered from boycotts against the policies of Elon Musk.
- Sales of Tesla's electric cars in France fell 36.8 percent in March from a year ago amid a slight drop in the overall electric car market
- In Sweden, Tesla sales declined 63.9 percent in March and 55.2 percent in the first three months of the year, according to Mobility Sweden
Company News
ADIB H1 pre-tax profit $1.08bn
Business
UAB net profit up by 50% for H1
Business
ADNOC shifts OMV stake to XRG
Business
Latest News
SIB H1 net profit $189m
Business
TSMC’s H1 revenue up 40 percent
Business
‘Wadeem’ sold out for $1.49bn
Business
The $10 mn bag: Original Birkin smashes records at Paris auction
Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...
Arts & Culture
Most Read
Business
Tesla Q2 sales down 13.5%
Shares rally after the disclosure, better than some forecasts.
- The sales figures released Wednesday, which are global, reflect the more contested nature of the EV market, which Tesla once dominated.
- Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.
Business
TomTom cuts 300 jobs
The firm said it was realigning its organization as it embraces AI.
- The Amsterdam-based company was an early pioneer of digital navigation in cars, but has been struggling as people no longer use a separate device to move around..
- TomTom announced in a statement that it was "realigning its organization as it embraces artificial intelligence", resulting in "organizational changes".
Geostrategy
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.
- Nearly 42 percent of buyers are under the age of 45, signaling growing demand for luxury wellness-focused living among younger demographics.
- Notably, 67 percent of buyers are first-time Aldar customers, demonstrating Aldar’s expansive reach and the appeal of the Group’s thoughtfully curated destinations.