Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...Business Economy
Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...Business Geostrategy
NEOM opens London office as base for UK and European business
London, United Kingdom – NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first international...The opening of the office is part of the NEOM’s effort to expand its international footprint
As the first international office, the UK office will also serve as a base to support NEOM’s business across Europe
Emaar 9M net profit $1.1bn
This is due to the successful launches of new projects.Emaar Development’s property sales increased by 25 percent, reaching US$7.9 billion in the first nine months of 2023.
In the first nine months of 2023 (January to September), Emaar Development reported an EBITDA of US$1.2 billion.
AstraZeneca Q3 profit swells
The profits nearly doubled on solid demand for cancer treatments.Net profit soared almost 90 percent to $1.26 billion in the three months to the end of September compared with a year earlier
While overall sales grew, revenue from its Covid jab Vaxzevria slumped 98 percent in the first nine months of the year compared with the same part of 2022
Dubai sets 75% renewable goal by 2050
The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar...The Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, demonstrates Dubai's commitment to solar energy.
The emirate is home to the Dubai Solar Institute, a world-class research center focused on solar energy technologies.
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Emirates Group H1 net profit $2.7bn
The profit was 138% higher than the $1.2 billion in H1 2022.Group revenue was AED67.3 billion ($18.3 billion) for the first six months of 2023-24, up 20 percent from AED56.3 billion ($15.3 billion) last year.
Overall profit for dnata is AED709 million ($193 million), compared to the same period last year's AED236 million ($64 million).
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...The IPI measures the relative change and reflects the production quantities of materials and goods.
Data issued by the General Authority for Statistics showed that Saudi IPI fell to 122.99 points in September.
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
Sony hikes annual sales outlook
The company net profit for July-September sank 29 percentSony saw net profit hitting $5.8 billion in the year to March 2024, up from the previous projection of 860 billion yen
Annual sales were seen at 12.4 trillion yen, compared with a previous estimate of 12.2 trillion yen
Dana Gas 9M net profit $126m
Profitability dropped 22% due to lower realized prices.The decline in profitability was also due to additional discounts on condensate sales in the Kurdistan Region of Iraq (KRI).
The Company’s revenue for the first nine months of the year decreased 21 percent to AED 1,195 million ($326mm).
