e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.Company News Business
Aramex H1 profit is $0.75 bn
The company sustains a very healthy liquidity profile.On a group level, GP margins remained stable over six-month period, driven by accelerated growth in the Logistics and Freight-Forwarding business
Aramex's strong balance sheet will support the company's growth strategy, including investments in digital and technological infrastructure
Dana Gas posts $110m profit
The better results were driven by high hydrocarbon prices.The company said that its profitability was driven by elevated hydrocarbon prices, in addition to the company's commitment to maintaining a low-cost base in Kurdistan
The company's board expects to maintain its semi-annual dividend payment in keeping with its dividend policy
SAMI revenue vaults to $605m
The Saudi firm says weapons business fueled growth.The firm has made it to the list of the 100 largest defense companies for the year 2022
The kingdom has been consolidating companies within SAMI to achieve a 50 percent technology transfer target
Disney+ subscribers surge as Netflix stumbles
The number of people subscribing to Disney+ topped 152 million, up some 31 percent from the same period a year...The overall number of subscribers to Disney streaming services topped those of Netflix for the first time
Disney shares were up more than 6 percent in after-market trades that followed release of the earnings figures
SEIC buys stakes in Egypt firms
The Saudi Egyptian company bought stakes worth $1.3bn.The SEIC will own shares in Abu Qir Fertilizers and Chemicals Industries Co., Misr Fertilizers Production Co., Alexandria Container and Cargo Handling Co.
The companies operate in sectors such as fintech, logistics, and fertilizer
Lebanese judge orders seizure of MPs’ property over port blast
The two former ministers Ali Hassan Khalil and Ghazi Zeaiter had been summoned for interrogation by the judge investigating the...The blast killed more than 200 people, wounded thousands and damaged vast areas of capital
Lebanon marked two years on Thursday since the massive port explosion
Air Arabia H1 profit $122.8m
More than 2.7 million passengers flew with Air Arabia from Mar-June.More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs.
The company’s turnover for the second quarter of 2022 increased by 125 percent as demand for air travel increased.
Saudi finance ministry partners with Al-Ahly to develop savings bonds
Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and...Saudi Finance Ministry and National Center for Debt Management partner with Al-Ahly Financial Company.
The deal between the two entities is aimed at promoting the culture of saving in the Kingdom.
ADDED, EWEC sign MoU to improve sustainability, clean energy adoption
The Emirates Water and Electricity Company (EWEC) and the Abu Dhabi Department of Economic Development (ADDED) today signed a Memorandum...EWEC will collaborate with ADDED through the Industrial Development Bureau (IDB) to develop new solutions that will support the innovation of energy products.
They will also lead the drafting of proposals to ensure ongoing improvements to the ecosystem, attract new investments and enable sustainable firms to thrive in Abu Dhabi.
ADNIC H1 net profit $50m
The company's gross written premiums up by 20.9%.The company's net underwriting income stood at AED253.9 million, against AED280.3 million during 2021.
ADNIC's net investment and other income were AED62.0 million, compared to AED87.3 million last year.
