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Huawei revenue slides in Q3 as smartphone business remains crippled
Revenue of China's Huawei Technologies Co Ltd plummeted 38 percent in the third quarter compared to the same period a year earlier, with U.S. sanctions having hobbled its smartphone business and new potential growth areas still in their…
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German luxury carmaker Daimler quarterly profits up despite chip crisis
German luxury automaker Daimler on Friday reported a strong profit boost in the third quarter despite a steep drop in vehicle production due to the global semiconductor shortage.
The Mercedes-Benz maker said in a statement its net profit…
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NatWest triples profit despite taking money laundering hit
NatWest tripled its profit in the third quarter as Britain's resurgent economy lifted its finances, despite setting aside cash for an expected fine for money laundering failings.
State-backed NatWest, Britain's biggest business bank,…
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Riyadh now home to 44 regional HQs of global firms, reveals city’s ‘attraction’ czar
Riyadh is now home to the regional headquarters of 44 multinational companies — an increase of 20 since a drive was launched in January to attract more firms to Saudi Arabia’s capital city.
Hosam Alqurashi, director of the Regional…
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Twitter avoids revenue hit from Apple privacy changes
Twitter Inc. on Tuesday reported quarterly results that avoided the brunt of Apple Inc. privacy changes on advertising that hobbled its rivals, sending its shares up 3 percent.
The social networking site has been working to add new…
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Saudi Arabia taps HSBC to boost ESG investing
Saudi Arabia’s Ministry of Investment has signed an initial agreement with global bank HSBC to “identify and promote” sustainable investment opportutinites.
The agreement was signed at the Future Investment Initiative conference in…
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Turkey signed $3.2bn green climate fund deal
President Tayyip Erdogan said on Wednesday Turkey had signed a memorandum of understanding under which it will receive loans worth $3.2 billion to help it meet clean energy goals set out in the Paris climate accord.
Sources familiar with…
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Softbank Vision Fund, Mubadala invest in European mobility company TIER
TIER, Europe’s micro-mobility company, announced the first close of its $200 million Series D funding round led by previous investors SoftBank Vision Fund 2, Mubadala Capital and adds new partners like M&G Investments, a green impact…
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Telecom Zain KSA profits drop 36% for first 9 months of 2021
Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year.
The decline is due to a 1 percent drop in revenue, as well as rising…
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Saudi Arabian imports top Egyptian imports list
Egyptian imports from Saudi Arabia jumped by 131 percent in June 2021 to $602.5 million, compared to about $260 million in the same month of 2020, an increase of $342.5 million, recent official data revealed, according to Al Arabiya.…
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