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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.

Saudi firm BinDawood eyes expansion by way of acquisition

By TRENDS Desk
February 13, 2022 8:54 pm
  • Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
  • The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence

Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications Trading Co., an e-commerce platform operator, for an unknown sum.

Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., a bourse filing showed on Sunday.

The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence.

This is in line with the company’s long-term objectives as one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom and is expected to have a positive impact on its financials.

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