ADIB 2023 net profit $1.4bn
The bank achieved a Return on Equity of 27.1 percent.Company News Business Banking & Finance
Qatar Airways posts record profit
The profit result was "200 percent above its highest annual historical profit".Qatar Airways, the Middle East's second biggest airline after Emirates, had reported in September last year an overall loss of $4.1 billion in the 2020-2021 financial year.
The Qatari airline said it carried 18.5 million passengers in 2021-2022, an increase of 218 percent over the previous 12-month period.
Iraq settles $1.6 billion payment of Iranian gas imports
The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.Baghdad had been scheduled to pay that amount to Tehran before the start of June.
Tehran has repeatedly cut off gas supplies to force Baghdad to pay off its debts.
ENOC to open 10 new eLink stations
The group has seven eLink stations, five located in Dubai and two in Abu Dhabi.The eLink station is a mobile fuelling format that enables motorists and customers with easy access and convenient fuelling services.
Since its launch, eLink has fuelled over 100,000 vehicles with a total fuel volume of nearly 5 million.
Integrated solutions make life a bit easy for SMBs
An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people....Many small and medium businesses still use a combination of standalone, on-premises business solutions for accounting, payroll and human resources
An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people
Tecom lists 12.5% shares on DFM
Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share.Tecom Group, the owner, manager and operator of 10 business districts across Dubai, will float 625,000,000 shares
The qualified institutional offering and the exempt offer subscription period is expected to run from June 16-24
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...The report provides information on Aramco's efforts to support the broader energy transition
Aramco expects to update the sustainability report on an annual basis
Israel, Egypt to export gas to EU in its bid to cut Russian imports
Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of...The memorandum of understanding on gas exports between Egypt, Israel and the EU was signed at the East Mediterranean Gas Forum.
Under a $15 billion deal in 2020, Israel already exports gas from an offshore field to Egypt, where it is liquefied and shipped to Europe.
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Qatar Chamber and Jordan to enhance private sector cooperation
Qatar Chamber and the Jordanian Ministry of Labor discussed Tuesday ways to enhance bilateral relations and the private sector's role...Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari met with Jordanian Minister Nayef Stetieh.
Jordanian Minister of Labor Nayef Stetieh pointed to the Qatari initiative to employ 20,000 Jordanians in Qatar.
