Borouge full-year net profit $1bn
The firm posted third consecutive rise in quarterly earnings.
Business
Business
Borouge to pay dividend of $325m
This is the first payment of the total $975m dividend for 2022.
- The interim dividend payment reflects Borouge's strong financial performance in H1 2022 and its outlook for the remainder of 2022, the company said.
- In the first half of 2022, Borouge reported a 16.4 percent increase in revenue to $3.5 billion (AED12.7 billion) versus the same period last year.
Business
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.
- The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
- The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Business
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.
- The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
- While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Business
Yahsat to pay $53.5m H1 dividend
The dividend will be paid by 14 Oct to all shareholders.
- The Group said it is on track to deliver a total dividend of at least AED393.3 million for the full 2022 financial year.
- The second and final dividend for 2022 is expected to be paid in April 2023.
Business
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technology
- The innovative design is intended to be 100 percent reliant on solar energy.
- As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Business
IHC acquires stake in Burjeel
The 15% stake in Burjeel will diversify healthcare investment.
- IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
- The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business
Salik ups number of IPO shares
The subscription period for the IPO remains unchanged.
- The Government of Dubai will continue to own 75.1 percent of Salik’s existing share capital.
- Salik reported core earnings of $217.82 million in the first half of this year, compared with 637.41 million in the same period in 2021.
Business
Response Plus enters Indian market
The company will establish its Indian headquarters in Kerala state.
- RPM India will work as a healthcare partner for onsite medical service solutions with oil and gas companies and other major industries.
- It will provide services to Airports, Seaports, Educational Institutions, malls and global events to meet the emergency healthcare needs.
Business
Agthia to pay $17m dividend
The dividend is in line with its bi-annual dividend policy.
- The company's H1 revenues reached AED 2 billion, up 51 percent year-on-year, and net profit grew to AED 118 million for the period, a 74 percent increase compared to H1 2021.
- Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical.
Business
Rosneft H1 net profit up 13%
The energy giant's H1 net profit rose to $7.2 billion.
- Having processed 45.8 million tonnes of oil this semester, Rosneft said its debt decreased by 12 percent from the beginning of the year.
- The company' revenues increased by 32.5 percent, reaching $86.7 billion.
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ENEC inks MoU with OSGE
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Saudi EXIM, India EXIM ink MoU
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Sulaiman Al Habib 9M profit $405m
The Group reported a nearly 16% year-on-year rise in revenues.
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Business
Equinor profits tumble
The drop was due to sharply lower gas prices and offshore wind problems.
- Adjusted earnings, which excludes certain exceptional elements, fell by 67 percent from the same period last year to $8.0 billion.
- Revenue came in at $26 billion, a drop of nearly $18 billion from last year. Net profit plunged 73 percent to $2.5 billion.
Business
UDC posts net profit of US$63m
The net profit has been reported for the first nine months of 2023.
- The company said that the Earnings per Share (EPS) amounted to US$0.01 (QR 0.065) as of September 30, 2023.
- UDC is a Qatari public shareholding company and the master developer of The Pearl and Gewan Islands.
Business
QFZ, Samsung C&T ink MoU
The two will collaborate in green, sustainable technologies.
- Both the parties will work together to achieve sustainability objectives within the free zones in Qatar through energy transition.
- QFZ, Samsung C&T will also explore co-investment opportunities in green infrastructure within the free zones.