Bloomberg Microsoft Corp reported quarterly sales and profit that topped analysts’ estimates for a ninth straight quarter, lifted by booming cloud-computing demand. This time, investors weren’t satisfied. Sales in the period ended March 31 rise to $41.7 billion, the Redmond, Washington-based software maker said in a statement. That compared with the $41.1 billion average estimate of analysts polled by Bloomberg. ...

Bloomberg Twitter Inc tumbled 13% after the social media company posted a sluggish start to the year in its advertising business and gave a disappointing revenue forecast, a sign the social media service hasn’t fully capitalized on the digital advertising boom amid the pandemic like companies such as Facebook Inc. and Google. Sales were slow during the first months of ...

Bloomberg Toyota Motor Corp.’s global sales in March rise to a record, as the automaker’s ability to keep churning out vehicles amid a global shortage of chips puts the company in prime position to capitalise on a resurgence in demand for cars. Toyota’s global sales in March rise 44% to 982,912 units, a record for a single month, the company ...

Bloomberg French new car registrations soared 569% in April to 140,428 vehicles, rebounding from a year earlier when the coronavirus pandemic shut showrooms and auto factories. Registrations fall 25% compared with April 2019, showing that the vehicle market hasn’t yet recovered to pre-Covid levels, the CCFA association of carmakers said in a statement. The same trend was evident in the ...

Bloomberg Huawei Technologies Co.’s revenue shrank for a second straight quarter after US sanctions devastated the embattled Chinese tech giant’s smartphone business. Huawei reported a 17% decline in sales to $23 billion in first three months of this year, the company said in a statement. That follows a 11% decline in revenue for the three months ended December. Its profit ...

DUBAI / WAM The distribution of food has begun in three African countries namely Ghana, Angola and Uganda targeted under the ‘100 Million Meals’ campaign, which aims to provide food aid for disadvantaged communities in 30 countries. The campaign’s organiser, Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), is collaborating with local food banks and charities in the beneficiary countries ...

Bloomberg Saudi Arabia is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic. The kingdom is looking at the potential sale — which could be worth about $19 billion, based on the company’s market value — as a way to ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE International Investor Council (UAEIIC), Dubai Exports, the Italian Trade Agency (ITA) and Confindustria, the largest Italian industrial confederation, discussed cooperation in various fields, including increasing exports, Foreign Direct Investment (FDI) and trade finance support between the UAE and Italy. The high-level discussion is in line with Italy’s objective of promoting ‘Made ...

ABU DHABI / WAM The Ministry of Tolerance and Coexistence will host on Saturday, the virtual forum, entitled, “Zayed: A Source of Human Values,” under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence. The forum will be held as part of the ministry’s celebration of the memory of the late Sheikh Zayed bin Sultan ...

VIENNA / WAM The 16th Opec and non-Opec ministerial meeting of the declaration of cooperation (DoC) announced that the overall conformity to the production adjustments was 115 percent in March 2021, reinforcing the trend of high conformity by the participating countries. The meeting reviewed the monthly report prepared by the Joint Ministerial Monitoring Committee (JMMC), including the crude oil production ...