Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...
Business
Business
Arada closes $100m tap on its Sukuk
Its existing Sukuk valued $350m was issued in June.
- The tap was priced at 99 cents on the dollar, with an investor yield of 8.386 percent.
- Arada said the tap witnessed demand from the global finance markets, with a lead order of US$185 million.
Business
Dlala Holding to resume trading
The authorized capital of the company is US$78 million.
- The QSE announced after completing the process of reducing the company's issued capital from 284.16 million shares to 190.387 million shares.
- Dlala Holding Company was established and listed on Qatar Stock Exchange in 2005.
Business
EasyLease net profit $8.91m
The total revenue in Q3 ended Sept reached AED156.11 million
- The company will reach 30,000 motorbikes by the end of 2022, doubling the size of its fleet from a year earlier.
- Easy Lease said it will open local offices in Saudi Arabia and Bahrain before the end of this year, targeting a 10 percent share by the end of 2023 of the Saudi Arabian market.
Business
Medicare net profit up 4.58% in first nine months of 2022
The earnings per share amounted to $0.54.
- Data issued by the company, published on Qatar Stock Exchange website, Thursday, indicated that earnings per share amounted to $0.54
- The Group was established in 1996, and was listed on Qatar Stock Exchange in 1997, with a capital of $77 million
Business
Nokia Q3 profit at $419m
The Finnish company reports net sales of $6billion.
- Finn company Nokia reported a 22-percent rise in profit to $419 million
- Nokia CEO Pekka Lundmark said the quarter demonstrated that he was delivering on the ambition to accelerate growth.
Business
Ericsson Q3 profit at $480m
Firm is making 'pricing adjustments' as inflation soars.
- Ericsson's shares closed down 15 percent on the Stockholm stock exchange.
- The lower profits were partly due to Ericsson's $6.2 billion acquisition of US cloud communications company Vonage.
Business
SABB nine-month net profit $926m
The net profit for the same period last year was $738m.
- The bank said the total operating profit grew 19 percent to SAR 6,966 million and net special commission income grew 19 percent to SAR 5,117 million.
- SABB’s shareholders’ equity remained stable at SAR 53 billion with total assets of SAR 300 billion, said Lubna Olayan, Chair of the Board of Directors SABB.
Business
American Airlines posts Q3 profit of US$483m
American Airlines third quarter revenues rose to $13.5 billion.
- American scored a 13 percent jump in revenues compared with the 2019 period on high ticket prices.
- US carriers have begun to prosper in 2022 as more governments pare back restrictions.
Business
Tesla profit jumps; revenues miss estimates
Tesla watchers are expecting a strong fourth quarter.
- The electric vehicle (EV) maker scored a more than doubling of profits in the third-quarter to $3.3 billion on increased auto deliveries
- The results follow Tesla's disclosure earlier this month that deliveries and production grew solidly in the third quarter
Business
ENOC opens new station in Al Hamriya Port
This would be the eighth marine service station in the emirate.
- The station is equipped with two fuel tanks and two fuel dispensers, offering Diesel, as well as a prefabricated structure featuring a ZOOM convenience store.
- ENOC said the station is equipped with energy efficiency features such as Variable Refrigerant Flow (VRF) air-conditioning to cut down electricity use by up to 35 percent.
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...
Business
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Americana Restaurants reports $1,897m revenue
The company's adjusted EBITDA reaching $446.5 million.
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Maaden posts net loss in Q3
Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.
- Maaden posted a net profit of US560 million (SAR 2.1 billion) in Q3 2022.
- Maaden posted net earnings of $183 million for the first nine months of 2023.
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
- The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
- The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
Business
BP rebounds with $4.9bn Q3 profit
The oil giant had posted a net loss of $2.2bn the previous year.
- However, underlying replacement cost profit excluding exceptional items more than halved to $3.3 billion.
- "This has been a solid quarter supported by strong underlying operational performance demonstrating our continued focus on delivery," said BP's official