Capital One to buy Discover for US$35.3bn
Its shareholders will own 60% of the combined company.Business
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...Business Economy Geostrategy
QEWC finalizes buying 40 percent shares of Nebras
Qatar Electricity and Water Company (QEWC) said Raslaffan Operating Company WLL, a wholly-owned subsidiary of QEWC completed the purchase of...QEWC said that the completion of the purchase process came as a continuation of the statement issued by the company on January 4
On January 4, QEWC said Raslaffan Operating Company WLL has completed purchase of 40 percent of the share capital of Nebras Power
Misses and uncertainty: US tech giants stumble after pandemic boom
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning,...A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty.
Recession fears, strong dollar, shrinking advertising budgets and inflation, headwinds coming from every direction at the moment.
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the...Eni said in a statement that bottom-line Q2 net profit increased 15-fold to $3.9 billion
For the whole of 2022, Eni confirmed it was aiming for operating profit of 'at least' $1.22 billion
Dubai’s real estate market sales transactions reach US$6.2bn
Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions...Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion
The transactions were the highest volume of sales transactions for June in the past nine years
ADNOC announces second discovery of natural gas resources
Abu Dhabi National Oil Company (ADNOC) today announced a second discovery of natural gas resources in the first exploration well...The reservoir was struck in in the first exploration well in Abu Dhabi's Offshore Block 2 Exploration Concession, operated by Eni.
The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place.
ExxonMobil Q2 profits rises to US$17.9bn
ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil...ExxonMobil's Q2 profits nearly quadrupled to $17.9 billion that underscored the oil and natural gas prices
The US oil giant's revenues in the second quarter rose 68.7 percent to $111.3 billion
Alpha Dhabi reports net profit of US$2.2bn in H1 2022
Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of...Alpha Dhabi reports net profit of US$2.2 billion in H1 2022 ending June 30, up from US$ 453 million in the corresponding period last year
The firm is also starting to see the benefits of its expansion outside the UAE with overseas revenue accounting for US$ 572 million
Sony trims annual profit forecast
Expenses incurred on acquisition of Bungie partly responsible.Sony Group now predicts net profit for 2022-23 will total 800 billion yen ($6 billion), down from its previous estimate of 830 billion yen.
Sony said lower sales of games by non-house developers will likely dent its overall sales figures this financial year.
DFM H1 profit up up 63 percent
The second quarter profit increased by 134 percent.The net profit of the second quarter of 2022 increased by 134 percent to AED35.9 million compared to Q2- 2021's level of AED15.3 million.
The Company's total consolidated revenue reached AED163.8 million in H1-2022 compared to AED136.6 million during H1-2021.
Johnny Depp sells his artwork for £3 mn
The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he...Depp wrote on Instagram on Thursday morning that the prints were going on sale online at Castle Fine Art, which runs a network of UK galleries
The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he has known well and others who have inspired him as a person."
