INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

  • The new CEO is being given a five-year contract, the firm said.

    Bjorn Gulden, the Norwegian former professional football and handball player will take on the role from January next year

    He has held senior roles at companies including shoe retailer Deichmann and clothing and sports equipment company Helly Hansen.

  • No financial terms were disclosed of the proposed deal.

    Bitcoin slid more than five percent, trading back under $20,000 before recovering.

    FTX's FTT token slumped 25 percent to its lowest levels since early 2021.

  • Revenue was up 12% to reach $4.2 billion for the same period.

    An interim cash dividend of 10 fils, totaling $140 million was distributed in September 2022.

    The company added 3.5 million active subscribers to a total of 52 million customers, a 7 percent  year-on-year growth.

  • Global stock markets mostly moved higher as Americans headed to the polls in midterm polls. The dollar got back some...

    Investors are waiting on US inflation data due on Thursday for a pointer on the interest path ahead.

    The broader S&P 500 and tech-heavy Nasdaq wobbled around before moving higher.

  • AMMAN, JORDAN - Jordan imported about 405,550 barrels of crude oil from Iraq in October, an average of 13,000 barrels...

    Jordan had imported roughly three million barrels of Iraqi crude from September 2021 to October 2022.

    The crude oil was transported by 11,565 Jordanian and Iraqi tanker trucks.

  • DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) discussed with the Russian Ministry of Industry and Trade ways...

    The two sides discussed ways to encourage more Russian companies to transfer some of their production lines to the UAE.

    The two sides discussed exchange of medical expertise and ways to expand partnerships in the pharmaceutical sector between UAE and Russia.

  • Customer deposits up by 9.2% to reach $5.79 bn.

    Net loans, advances and financing grew by 7.3 percent, reaching RO 2.538 billion.

    The bank's operating income and expenses also increased to the tune of 13 percent (RO 67.93 million)

  • Strong performance of the firm's agrochemicals division helped.

    Bayer reported US$84.9 million in profit in the third quarter of 2021.

    Sales rose by 5.7 percent, to more than US$11.18 billion.

  • Net investment and other income reached AED93.8m.

    Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said ADNIC's gross written premiums growing by 32.4 percent to AED4.29 billion.

    "The performance was driven by robust growth in the commercial division of 50.7 percent, and stable growth in consumer lines of 10 percent," he said.

  • DUBAI, UAE - The UAE-India joint technical committee for manpower held its first meeting where it explored areas of collaboration...

    Both parties highlighted their keenness to enhance cooperation to ensure a safe, organized and legal transition of Indian laborers.

    The UAE delegation presented key insights on its job market, which is one of the preferred global destinations for work.