TomTom cuts 300 jobs

• 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".

Aldar nets $953m in sales at Fahid

• 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.

Qualcomm to Alphawave for $2.4 bn

• Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
• For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.

Equinor signs $27 bn gas deal

• Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
• Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.

ADNOC Drilling secures $1.15bn contract

• The rigs are expected to commence operations around the end of 2Q 2025, delivering revenue in the second half of 2025 onwards.
• This award further de-risks and reaffirms ADNOC Drilling’s current 2025 and medium-term guidance, the company said.

Etihad Q1 profit $187 million

• Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
• With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.

Yalla Group Q1 revenue $83m

Qatar Airways annual profit $2bn

• Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
• In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.

Masdar issues $1bn bond

• The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375%.
• The bond attracted significant oversubscription with a peak orderbook of US$6.6 billion.

Luberef net profit falls 7% in Q1

• This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
• Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.