Search Site

Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Jahez posts profit of US$14.2m

The increase in orders led to higher delivery and operational costs for the company.
  • Jahez said the profit surge was mainly driven by a revenue jump of 60 percent to $207 million, from $129.60 million in the corresponding period last year
  • Orders made through the app surged by 46 percent to 31.5 million during the six months, as the average number of users soared by 48 percent

Riyadh, Saudi Arabia— Jahez, Saudi food delivery platform, has posted an 85 percent surge in profit to US$14.2 million for the first half of 2022, shored up by a boost in demand for food on its app.

The company made a profit of $14.2 million as against $7.65 million in the year-ago period, according to a stock exchange filing.

The profit surge was mainly driven by a revenue jump of 60 percent to $207 million, from $129.60 million in the corresponding period last year, Jahez said.

Orders made through the app surged by 46 percent to 31.5 million during the six months, as the average number of users soared by 48 percent.

The increase in orders led to higher delivery and operational costs for the company, but it managed to almost double its restaurants to 7,879, from 4,742 in June last year.