NEW YORK:  Tesla rode rising demand for electric vehicles to a record $5.5 billion profit in 2021, but Elon Musk’s company cautioned Wednesday that supply chain problems would continue to crimp production through 2022.

NEW YORK: Boeing reported a hefty fourth-quarter loss Wednesday as mounting costs connected to the widebody 787’s woes more than offset a boost from the comeback of the 737 MAX after a lengthy grounding. 

TOKYO:  The Nissan auto alliance said yestersday it will invest more than $25 billion in electric vehicles over the next five years, marking the latest massive cash injection into the fast-growing sector by the auto industry.

LONDON: Global gold demand soared in the fourth quarter of 2021 as inflation rocketed, helping to recoup much of the drop triggered by the pandemic, industry data showed Friday. 

KUWAIT: Boubyan Bank has announced KD 48.5 million in net profits for the year 2021 with growth rate by 41 percent and an earnings per share of 13.57 fils along with a recommendation to distribute 5 percent in cash dividends and 5 percent in bonus shares. 

COLOMBO: Supermarket shelves are bare and restaurants can’t serve meals, but Sri Lanka’s economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house in a nice area.

PARIS: French telecoms multinational Orange is days away from naming Christel Heydemann as its first female chief executive, replacing disgraced head Stephane Richard, sources close to the company said on Monday.

WASHINGTON: The Omicron variant of COVID-19 is creating an obstacle course for the global economy, which will slow growth this year, notably in the world’s two largest economies, the IMF said yesterday. 

WASHINGTON: American companies ended the year on a strong note but are worried about resurging COVID-19 infections, although supply issues are expected to ease, according to a survey released yesterday.