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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.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

US downs three Houthi drones, strikes anti-ship missiles

Yemen's Iran-backed Houthis have been targeting shipping for months and their attacks have persisted despite repeated American and British strikes...
  • CENTCOM said US forces destroyed "seven Iranian-backed Houthi mobile anti-ship cruise missiles that were prepared to launch towards the Red Sea."
  • US Central Command said those strikes , carried out between 12:30 p.m. and 7:15 p.m. Sanaa time, were made in self-defense

Lloyds Group profit is $6.2bn

High interest rates benefitted the British lender and banking sector as a whole.
  • "The group delivered a robust financial performance in 2023, meeting our guidance," said chief executive Charlie Nunn
  • Banks in the UK and elsewhere are gaining from higher interest rates as central banks, including the Bank of England

Rolls-Royce back into profit

The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
  • Shares in Rolls soared almost ten percent in afternoon trading, topping London's benchmark FTSE 100 index
  • Its share price more than trebled last year but at the end of 2023 it was still only up 6.5 percent over the previous five years.

Boursa Kuwait posts $51m net profit

Operating profit for 2023 was recorded at US$59 million.
  • Total operating revenues of US$99 million were recorded for 2023.
  • Consolidated assets came in at approximately US$386 million in 2023.

Glencore 2023 profit down 75%

The company said lower energy prices cut into its profits.
  • Gross operating profit fell 50 percent to $17.l billion, "primarily reflecting the rebalancing and normalization of international energy trade flows," it said
  • The commodities trading unit saw operating profit fall 46% to $3.5 billion, "with coal and LNG (liquefied natural gas), and to a lesser extent, oil prices materially declining"

e& 2023 net profit is US$2.8bn

e& said the net profit is a growth of 3 percent year-over-year.
  • Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.
  • Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.

Walmart to buy TV maker Vizio

The acquisition of the TV maker is worth $2.3 billion.
  • With the all-cash purchase, the US shopping behemoth gains access to Vizio's more than 18 million accounts.
  • Vizio is known for what Walmart called "immersive entertainment" through a "customer-centric platform".

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.
  • The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent
  • It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.

HMG 2023 net profit $544m

The rise was due to the hospitals and pharmacy segments.
  • The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).

EDF’s net profit is $10.8bn

EDF cut its large debt by increasing nuclear production.
  • Sales slipped 2.6 percent to 139.7 billion euros, but the group managed to slice debt by 10 billion euros to 54.4 billion
  • EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Latest News

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.

Most Read

BYD surpasses Tesla with record revenue

The Chinese EV giant's net profit was $5.55 billion for 2024.
  • The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world.
  • BYD's publication of strong results comes after Tesla announced lower than expected profits for the fourth quarter of 2024 in late January.

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.
  • Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
  • Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.

Perplexity eyes TikTok buy

TikTok faces a deadline to divest from its Chinese owner or be banned in the US.
  • TikTok temporarily shut down in the United States and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.
  • Trump suspended its implementation for two-and-a-half months after beginning his second term in January, seeking a solution with Beijing.