Samsung flags 26% profit boost on chip, display sales

Seoul: Samsung Electronics Co Ltd said on Friday that fourth-quarter operating profit likely rose 26 per cent, in line with analysts’ estimates, as pandemic-driven remote working fuelled sales of chips and display panels. The South Korean tech giant said operating profit was likely 9 trillion won (Dh30 billion) in the quarter ended December, offsetting weaker […]

Tesla delivered 499,550 electric cars last year, just shy of target

Tesla Inc. delivered a record number of cars worldwide in the fourth quarter of 2020, but fell just shy of a goal for 500,000 units for the full year. The electric-car maker delivered 180,570 vehicles in the last three months of the year, eclipsing its prior all-time high of 139,300 in the third quarter of […]

Dubai announces new Dh315 million economic stimulus package

Dubai: Dubai on Wednesday announced the fifth tranche of economic stimulus. “We approved the fifth economic stimulus package in Dubai at a value of Dh315 million, bringing the total value of the economic packages to Dh7.1 billion. We continue to boost the ability of all sectors to overcome the global crisis impact,” said Sheikh Hamdan […]

Abu Dhabi crisis dealmaker Mubadala wants to take crack at top 10

Abu Dhabi’s Mubadala Investment Co. is overhauling its structure and deploying capital to double in size to nearly half a trillion dollars in the next decade, a plan that will vault it into the top ranks of the world’s sovereign wealth funds. With stakes in businesses from Reliance Industries Ltd.’s retail unit to Masayoshi Son’s […]