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Saudi Aramco's Q1 profit down 14.5 percent: statement
Saudi Aramco's Q1 profit down 14.5 percent: statement
Business and Economy
by  AFP

Oil giant Saudi Aramco announced first-quarter net profit of $27.27 billion on Tuesday, down 14.5 percent from last year as the Gulf kingdom kept production cuts in place. Net income was 102.27 billion riyals ($27.27 billion), down from 119.54 billion riyals ($31.88 billion) for the same quarter in 2023, Aramco said, adding that "the decrease was primarily a result of lower crude oil volume sold".

UBS net profit up 71% after two quarters in the red
UBS net profit up 71% after two quarters in the red
Business and Economy
by  AFP

Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion after two quarters in the red due to the takeover of Credit Suisse. In March 2023, Swiss authorities strongarmed UBS into the $3.25-billion takeover to prevent Credit Suisse from going under with catastrophic consequences for the global financial system.

Amazon says will invest $9 billion in Singapore
Amazon says will invest $9 billion in Singapore
Technology
by  AFP

Amazon said Tuesday it would invest US$9 billion in Singapore over the next four years to expand its cloud computing capabilities in the city. Microsoft pledged US$2.2 billion in artificial intelligence and cloud computing investment in Malaysia on Thursday.

Chinese mill blamed for turning Serbia village red with pollution
Chinese mill blamed for turning Serbia village red with pollution
Business and Economy
by  AFP

In the eight years since Chinese company HBIS bought a steel mill near the eastern Serbian city of Smederevo, locals say they have been plagued by heavy air pollution and thick red dust. - Cancer cases quadrupled - The Serbian Environmental Protection Agency has ranked Smederevo repeatedly among the country's most polluted cities, classified as having "excessively polluted air".

Boeing probed in US over possible falsified records on 787
Boeing probed in US over possible falsified records on 787
Business and Economy
by  AFP

US air safety authorities are investigating whether embattled aviation giant Boeing completed required inspections on its 787 aircraft and whether employees falsified records, officials said Monday. "The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records," the agency said.