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Company News

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

GSK profit in 2023 falls

The drug maker said revenues swelled 3 percent to $38.54bn.

Business

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.

Business
Business

Yahsat H1 revenue $206m

This is the company's highest ever first-half revenue.
  • The high revenue is due to a double-digit growth in Managed Solutions and Mobility Solutions.
  • The Adjusted EBITDA increased by 5.3 percent year-on-year to AED448 million ($122 million), delivering a robust margin of 59.3 percent.
Business

ADNOC Drilling H1 profit $379mn

The firm's revenue increased 13 percent to US$1.27 billion
  • ADNOC Drilling revenue increased 13 percent to US$1.27 billion compared to the same period last year
  • First half EBITDA was $580 million, up 16 percent year-on-year, with a market-leading margin of 45.7 percent
Business

IHC H1 profit surges to $3bn

The company slew of acquisitions helped its earnings.
  • The performance across all IHC subsidiaries has resulted in a strengthening of the conglomerate’s balance sheet
  • The company's strategic acquisition of companies in H1 2022 had a positive impact on the organisation's net worth

Industries Qatar H1 profit up 57%

The company’s year-on-year net profit jumped to $1.5 billion.
  • The company’s year-on-year net profit jumped to $1.5 billion
  • Earnings per share amounted to $0.24 in the first half of the year
Business

ADNOC Distribution H1 profit is $0.27 bn

The company recorded an EBITDA of US$0.54 billion.
  • The company witnessed year-on-year growth in total fuel volumes, up 9 percent in H1 2022 compared to H1 2021
  • Its corporate fuel volumes recorded sustained growth with a 27 percent year-on-year increase, underpinned by the UAE's economic growth
Business

QIG’s H1 profit surges 71.5%

The group announced earnings per share of 0.10 riyal.
  • The group said that earnings per share amounted to 0.10 riyal in H1 2022, compared to 0.05 riyal last year
  • The Qatari Investors Group was established in 2006, and its capital is about 1.243 billion riyals
Business

Agthia’s profit surges 74%

Group net profit attributable to shareholders rose to $32m.
  • The period ending June 30, 2022 saw a 51 percent year-on-year growth in net revenues compared with the same period in 2021
  • Group net profit attributable to shareholders grew to AED 118 million ($32 million) for the period, a 74 percent increase relative to H1 2021
Business

ADNOC Drilling gains 2 contracts

The company will hire eight jack-up offshore rigs.
  • The contracts, valued at $1.5 billion (AED 5.6 billion) and $1.9 billion (AED 7 billion), awarded by ADNOC Offshore.
  • These will support the expansion of ADNOC’s crude oil production capacity to 5 million barrels per day by 2030 and enable gas self-sufficiency for the UAE.
Business

Embraer Q2 profit at $74.2m

It returned to profit in Q2 after posting a loss in first quarter
  • Brazilian plane-maker Embraer returned to profit in the second quarter after posting a loss in the first
  • The result was down 16 percent from the $87.9 million net profit it posted for the April-June period last year
Business

ING Q2 profit down 20%

The bank's profits have been hit by Turkey's soaring inflation.
  • ING booked a profit of 1.18 billion euros ($1.2 billion) in the three-month period ending in June.
  • ING's net profit took 277-million-euro hit from Turkey's hyper-inflation, which is around 80 percent.

GSK profit in 2023 falls

The drug maker said revenues swelled 3 percent to $38.54bn.
Business

Company News

Herald, SAIF Zone sign agreement

CBD H1 2023 net profit $133m

ADNOC in talks with OMV

Burberry sales jump on China boost

ExxonMobil to buy Denbury

Latest News

DEWA okays H1 dividend of $843m

The company had reported a net profit of $540 million for Q2.
Business

Aramco, ENOWA ink pact

The firms will jointly establish an e-fuel demonstration plant.
Business

RSG, KHC set up joint venture

The JV will develop and own the Four Seasons Resort Red Sea.
Business

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Business

RAKBANK reports highest ever net profit

The bank's income increased by 35.4% year-on-year.
  • The bank's income increased by 35.4% year-on-year, thanks to continued growth in low-cost deposits and expansion across all segments of its business
  • The bank maintained strong credit quality, with a cost of risk at 2.5% and an impaired loan coverage ratio of 210.3% for the YTD through September 2023
Business

British Steel to cut 2000 jobs

British Steel is battling losses of $36 million a month.
  • The potential staff cuts are said to be a key plank of plans to replace its coal-powered blast furnaces with electric arc furnace (EAF) technology.
  • The switch could unlock new funding for Chinese group Jingye, which has owned British Steel since 2020, including up to £300 million of taxpayer funding.
Business

Qatar Airways’ CEO to quit

Akbar Al Baker led the state-owned airline for over 25 years.
  • According to the reports which cited a memo to staff, Baker, who led the firm for over 25 years, is due to step down from November 5.
  • Akbar Al Baker has been widely credited with transforming the fortunes of the fledgling airline he took control of in 1997,