GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.
Business
Microsoft cutting more jobs from its gaming unit amid industry layoffs
San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...
Business
Business
Alpha Dhabi reports net profit of US$2.2bn in H1 2022
Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of...
- Alpha Dhabi reports net profit of US$2.2 billion in H1 2022 ending June 30, up from US$ 453 million in the corresponding period last year
- The firm is also starting to see the benefits of its expansion outside the UAE with overseas revenue accounting for US$ 572 million
Business
Sony trims annual profit forecast
Expenses incurred on acquisition of Bungie partly responsible.
- Sony Group now predicts net profit for 2022-23 will total 800 billion yen ($6 billion), down from its previous estimate of 830 billion yen.
- Sony said lower sales of games by non-house developers will likely dent its overall sales figures this financial year.
Business
DFM H1 profit up up 63 percent
The second quarter profit increased by 134 percent.
- The net profit of the second quarter of 2022 increased by 134 percent to AED35.9 million compared to Q2- 2021's level of AED15.3 million.
- The Company's total consolidated revenue reached AED163.8 million in H1-2022 compared to AED136.6 million during H1-2021.
Arts & Culture
Johnny Depp sells his artwork for £3 mn
The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he...
- Depp wrote on Instagram on Thursday morning that the prints were going on sale online at Castle Fine Art, which runs a network of UK galleries
- The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he has known well and others who have inspired him as a person."
Business
Pfizer profit up 78% in June quarter
The company's earnings jumped on strong sales of Covid19 products.
- In the quarter ending June 30, profits were $9.9 billion, up 78 percent from the year-ago period following a 47 percent jump in revenues to $27.7 billion
- US officials last month approved emergency authorization to Pfizer and Moderna for Covid-19 vaccines in under-five-year-olds
Geostrategy
Saudi Crown Prince ends Europe trip with deals, MoUs
Strategic partnership remains in focus as Mohammed bin Salman leaves France after heading a wide-ranging talks along with French President...
- Strategic partnership remains in focus as Mohammed bin Salman left France today after heading a wide-ranging talks along with French President Emmanuel Macron
- Earlier, a delegation of senior Saudi ministers held separate talks with their French counterparts at at the Elysée Palace
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
TotalEnergies doubles Q2 profit
Rising oil, gas prices are yielding bumper profits across the sector.
- TotalEnergies profit amounted to $5.8 billion in the period from April to June.
- TotalEnergies second-quarter sales were up 37 percent at 74.8 billion euros.
GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.
Business
Company News
Latest News
American defense companies firm on attending Dubai Airshow
Washington DC, United States -- In spite of escalating instability in the Middle East, several American defense firms have reaffirmed...
Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
Business
Musk teases AI chatbot ‘Grok,’ with real-time access to X
The social network that Musk bought a year ago launched the Premium+ plan last week for $16 per month, with...
Business
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Business
UAE charges ahead in global electric vehicle readiness
The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride...
- The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride towards its 2050 carbon neutrality goals.
- With EV Green Charger initiative expanding the charging network and 82% of residents considering EVs for next vehicle, the nation is driving forward sustainable transportation.
Geostrategy
Don’t pause Mideast de-escalation over war, says UAE official
Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the...
- According to UAE presidential adviser Anwar Gargash, countries should maintain that strategy even though the war is sending shockwaves through the region.
- "National actors are basically trying to use economics as a way to de-escalate tension," Gargash told the World Policy Conference in Abu Dhabi,
Business
QatarEnergy inks second 27-year gas supply deal with China’s Sinopec
DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
- Doha will supply three million tonnes of gas a year to Sinopec under the deal.
- Asian countries led by China, Japan and South Korea are the main market for Qatar's gas.