Yalla Group Q1 revenue $83m
Net income rose to $36.4 million, a 17% YoY increase.Company News Business
EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...Business
AMF, State Bank of Pakistan to enhance cross-border payments
Abu Dhabi, UAE -- The Arab Monetary Fund (AMF) and the State Bank of Pakistan (SBP) have signed an MoU...The partnership aims to create a framework for cooperation between AMF's Buna and Pakistan's Raast payment systems.
This will eventually streamline cross-border remittances between the Arab region and Pakistan through official channels.
SAIC 9M net profit 38%
The third quarter net profit increased by 76 percent.This figure marks a leap from the SAR 80.4 million recorded in the same period the previous year.
Revenues surged by 36.6 percent, from SAR 91.49 million in 9M 2022 to SAR 124.97 million in 9M 2023.
Apple sales lose ground
The tech giant said it made a profit of $23 billion.The tech giant said it made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year
Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter while money taken in from services hit an all-time high
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Ducab, Somagec ink MoU
The MoU will enable UAE-based firm to enter Angolan market.Ducab Group already supplies its “Made in the UAE” products to 15 countries in Africa.
It is constructing over 400 kilometers of 220kV transmission lines in Angola.
Lufthansa Q3 profit $1.3bn
38 million passengers travelled with the group's airlines in the third quarter.The group said sales rose by eight percent to 10.3 billion euros, delivering "the strongest quarter in its history in revenue terms".
The surge in profit is driven by "strong demand, higher capacity" and more expensive ticket prices, the aviation firm said.
Alpha Dhabi 9M net profit $3.15bn
The net profit increased by a substantial 29 percent during this period.Alpha Dhabi's revenue also increase by 22 percent during this period, reaching AED 32.4 billion, compared to AED 26.6 billion in the previous year period.
Alpha Dhabi's total assets reached AED 133.6 billion, with a cash position of AED 19.1 billion as of September 30, 2023.
Lootah Biofuels inks MoU
The agreement is aimed at producing biofuel in Maldives.The deal was inked during the second day of the Dubai Business Forum, an influential global gathering of businesses and investors.
The objective of the MoU is to reduce the impact of CO2 by replacing normal diesel with biodiesel.
Al Ansari Financial Services okays dividend
The first proposed interim dividend is of $81 million.All matters relating to future dividend distribution will be subject to the Board of Director's recommendation and shareholder's approval.
The approved US$81 million cash distribution aligns with the group's previously announced dividend policy.
stc, Microsoft to collaborate
The aim is to advance digitalization in Saudi Arabia.The two firms will jointly develop and deploy cutting-edge solutions that will transform and empower organizations across various industries.
The collaboration between the organizations aims to enable stc’s subsidiaries to explore new markets, develop disruptive business models.
