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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.

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Raydan to cut capital by 53%

The approval is subject to the approval of the company’s shareholders and completion of the necessary procedures.
By TRENDS Desk
September 22, 2022 11:49 am
  • According to a bourse filing, the company is cutting its capital from $90 million to $42.13 million
  • The food company's accumulated losses reached $45 million in the first half of the year, representing 53 percent of its share capital

Riyadh, Saudi Arabia— Raydan Food Co. will reduce its capital by 53 percent, after it got the go-ahead from Saudi Arabia’s Capital Market Authority.

According to a bourse filing, the company is cutting its capital from $90 million to $42.13 million.

This reduction plan was made in order to restructure the company’s capital structure in order to recover losses.

The food company’s accumulated losses reached $45 million in the first half of the year, representing 53 percent of its share capital.

This approval is subject to the approval of the company’s shareholders and completion of the necessary procedures under applicable regulations, as stated in the statement.

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