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HuaweiSamsung Electronics made a record $5.2 billion profit in the first quarter, overhauling Nokia as the world’s top mobile phone seller, and its Galaxy smartphones outstripped Apple’s iPhone at the high end of the market.
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Nokia Oyj’s rating was lowered to junk by Standard & Poor’s, the second debt rating company to strip the Finnish mobile-phone maker of an investment grade after it posted losses at its handset business.
The inaugural Kingdom Airports, Aviation and Logistics Exhibition, or Kaale, in Saudi Arabia is set to underscore the significance of the government’s $100 billion spending in the next decade on transport-related projects, according to the event’s organiser.
Economic confidence in the euro region declined more than economists forecast in April, as the region’s slump showed signs of deepening.
SouqExtra!, the national chain of supercentres providing a range of community services and entertainment activities, opened its fourth outlet in Al Quoz to serve the growing needs of the neighbouring community.
Qatari conglomerate Mannai and Egyptian investment bank EFG Hermes have gained control of leading jewellery chain Damas International after securing support from most shareholders for the consortium’s $445 million offer.
Gold prices slipped back towards $1,550 an ounce on Friday, ending the metal’s three-session rally, as a ratings downgrade of debt-laden Spain pressured the euro, and consumers in major Asian bullion-buying centres shunned the precious metal.
Italy was forced to pay higher interest rates to entice investors to buy a little under (euro) 5 billion worth of its 5- and 10-year bonds.
Honda Motor said its full-year profit plunged 60.4 percent but it showed signs of recovery in the final quarter, bouncing back from the impact of natural disasters in Japan and Thailand.
Asian markets were mixed Friday following an uneven set of data from the United States, while sentiment was weighed by news that Spain’s credit rating had been slashed.