Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.Company News Business
Saudi table egg production crosses 8 billion, achieves 100% self-sufficiency
Riyadh, Saudi Arabia -- Saudi Arabia's poultry sector has reached complete self-sufficiency in table egg production, with output surpassing 8...Business
Emaar 2023 revenue at $7.3bn
Emaar property sales rose to US$ 11 billion in 2023.Emaar also achieved 63 percent growth in EBITDA, reaching US$4.4 billion (AED 16 billion) during 2023 as compared to 2022.
This performance was supported by growth in tourism, a continued upward trend in retail sales and a consistent increase in real estate demand.
UAB net profit grows 65%
Total assets grew 25% in 2023 on strong growth in loans, advances.UAB’s financial performance was aided by significant progress across the core businesses with total operating income recording a 15 percent growth.
Total assets grew 25 percent year-on-year in FY 2023 to AED17.6 billion, driven by the strong growth in loans, advances, and Islamic financing.
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.
Presight net profit $155m
The net profit grew by 5.1 percent to $155 million.The company said the financial results were underpinned by major domestic project deployments throughout the year and more so in the last quarter of the year.
Presight listed on the Abu Dhabi Stock Exchange on March 27, 2023, with an offering, excluding its corner stone investor, that was oversubscribed 136 times.
Aldar Properties awards contracts worth US$2.8bn
ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...The contracts are being recirculated to the local economy, in line with the National In-Country Value (ICV) program.
The ICV program is crucial to economic and social development, job creation, and the growth of the national GDP.
DEWA 2023 net profit $2.15bn
The system demand for power surged to 56.5 TWh in 2023.The fourth quarter revenue was AED 7.1 billion and net profit AED 1.8 billion. The full-year audited results are expected to be released in the first week of March 2024.
DEWA’s annual consolidated revenue increased by 7 percent, mainly driven by an increase in demand for electricity, water and cooling services.
Disney profit beats forecasts
The company is looking to tap into the passion for video games.During the earnings announcement, Disney chief Robert Iger also revealed that the entertainment giant is acquiring a "small equity stake" in Fortnite-maker Epic Games
Disney is looking to tap into the passion for video games in general and "Fortnite" in particular with a $1.5 billion stake in Epic, according to Iger
Unilever annual profit drops 15%
Group revenue dipped 0.8 percent to 59.6 billion euros.Chief executive Hein Schumacher said in the earnings statement that "competitiveness remains disappointing and overall performance needs to improve" at the group
Schumacher, the former head of Dutch dairy and nutrition firm Royal FrieslandCampina, launched in October an action plan to grow Unilever
Gucci owner says profit fell 17%
Sales retreated 4 percent to 19.57 billion euros.Kerin reported a 17 percent drop in net profit to $3.2 billion
Sales of the Gucci owner retreated four percent to 19.57 billion euros
Shipping giant Maersk’s profit sinks
The company warned of "uncertainty" due to Houthi attacks.Maersk said its net profit reached $3.8 billion last year, slightly more than forecast by analysts but down sharply from the $29.2 billion logged in 2022
The group lowered its 2024 forecast for its core profit -- earnings before interest, tax, depreciation and amortization -- to a range of between $1 billion and $6 billion
