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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.

stc to sell stake in CCC

The contract has been signed for a period of 42 months. (WAM)
  • The company did not disclose the value of the deal that is expected to be closed in the second quarter of 2023.
  • stc revenue exceeded $17 billion for the first time ever in 2022, reaching 67.43 billion riyals ($17.97 billion).

Dubai, UAE – Saudi Telecom Company (stc) Monday said it has received a no-objection certificate from the kingdom’s General Authority for Competition to sell its 49 percent stake in Contact Center Co. (CCC) to Arabian Internet and Communications Services Co.

The company did not disclose the value of the deal that is expected to be closed in the second quarter of 2023. The completion of the transaction is subject to other regulatory and commercial conditions.

In January 2023, stc had signed a sale and purchase agreement with solutions to sell its entire 49 percent stake in Contact Center for cash. The telecom giant has a 79 percent stake in solutions.

Record revenue

stc revenue exceeded $17 billion for the first time ever in 2022, reaching 67.43 billion riyals ($17.97 billion).

Net profit for the year was 12.17 billion riyals, an increase of 7.60 percent compared to 2021, while the operating profit increased by 10.65 percent to reach 37.39 billion riyals.

stc said it will distribute a total of 1.99 billion riyals in cash dividends to the shareholders for the 4th quarter of 2022.

The eligibility of dividends shall be for the shareholders at the close of trading on Sunday 26 Feb 2023 and as per the registered shareholders in stc’s shareholders registry in the Depository Center at the end of the second trading day following the eligibility date. Dividend distribution date will be on Thursday 16 Feb 2023.