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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

  • DMCC witnesses 10 percent rise in US companies in 2023

    DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...

    DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE

    The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE

  • Aramex Q4 net profit doubles

    The firm reported a marginal YoY decline in Q4 revenue.

    Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.

    The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.

  • Hermes profit soars 28 percent

    The luxury giant posted a profit of US$4.6bn in 2023.

    The company will disburse a 4,000-euro bonus to all employees early this year as part of "its policy of sharing the fruits of growth"

    Its sales climbed 14.5% in Japan and 12.9% in the rest of the Asia-Pacific region, with the group opening its 33rd store in China

  • OPEC Fund grants US$30m loan to Uganda to build key road link

    Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...

    The construction of the road will provide better, faster and safer transport connections in the central-east region of the country

    The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation

  • L’Oreal net profit jumps 8.4%

    The company's profit surged to US$6.8bn last year.

    The cosmetics giant in statement said its net profit jumped to $6.8 billion while sales grew 7.6 percent

    In North Asia, its sales fell 5.8 percent to $11.52bn, but in South Asia sales jumped 23.2 percent to $3.66bn

  • GCC retail pins hope on customer loyalty programs

    Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...

    Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and personalize shopping experiences.

    The sector are overcoming integration challenges through education, and embracing new market trends like personalized offers, digital wallets, and gamification in loyalty programs.

  • 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.