DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
Business
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
Business
GIS, DIH mull merger
Qatar Central Bank has provided in-principle no-objection to both firms.
- The potential merger is likely to create one of the largest local insurance companies.
- The creation of huge insurance company is in line with the Qatar National Vision 2030.
Business
GMC, Fix Network sign agreement
Twelve new service and collision repair centers will be set up in Saudi.
- The new partnership will launch with six collision centers and six quick service centers spread across KSA.
- The collision repair services will be known as Fix Auto Collision, while the mechanical service and repair centers will be called Fix Auto Service.
Business
SRC, Riyad Bank sign $133m deal
This is the second largest mortgage refinancing deal in the kingdom.
- Tareq Al-Sadhan, CEO of Riyad Bank, said the long-term partnership with SRC will provide housing finance solutions that fulfill the needs and requirements of Saudi families.
- Saudi Vision 2030 aims to raise the percentage of residential ownership of Saudi families from 47 percent to more than 60 percent within four years.Â
Business
DP World H1 net profit $721m
Growth was supported by higher revenue from acquisitions.
- The global port operator said this was a 51 percent year-on-year and added that it expects growth rates to moderate for the rest of the year.
- The company said its H1 revenue was $7.93 billion, a rise of 60 percent, supported by acquisitions, strong performance of feedering services and growth in high margin cargo.
Business
Walmart Q2 revenue $152.9bn
The retail giant sales surged, partly due to inflation.
- Revenues for its second fiscal quarter ending July 31 were $152.9 billion, up 8.4 percent from the year-ago period
- Profits rose 20.4 percent to $5.1 billion, with some of the increase connected to the accounting for an asset sale in Brazil
Business
Agthia 2021 acquisitions worth $630m
The Group is planning a new acquisition in Egypt.
- Agthia aims to expand geographically in markets such as Egypt and Pakistan, noting its 60 percent acquisition of Abu Auf Group in Egypt.
- The group's products are currently available in more than 45 markets in North America, Europe, Asia, North Africa and the Middle East.
Business
Malaysia Airlines to acquire 20 planes
The airline will buy 10 planes and lease the 10 others from Avolon.
- The plane was worth $296.4 million according to the last published catalogue prices in 2018.
- The A330neo will gradually replace 21 older-generation A330neo planes in the Malaysia Airlines fleet.
Business
GIG H1 net profit $48.9 million
Improvement in underwriting and investment push profits up.
- The company said the rise in net profit was due to the improvement in the Group’s underwriting and investment performance compared to the same period last year.
- The total assets for the first half of the current year reached KD 1.34 billion, compared to KD 0.8 billion, an increase of 67.3 percent.
Business
AD Ports Group Q2 net profit $81.67m
The year-on-year growth in net profit was 59 percent.
- Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period, the statement said.
- Container volumes grew by 30 percent YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions.
Business
Emaar H1 revenue 3.69 billion
H1 2022 EBITDA up 66 percent $1.6 billion.
- Q2 EBITDA up 53 percent to reach $798 million compared to $523 million in the same period of 2021.
- Emaar’s international real estate operations recorded property sales of $661 million in H1 2022 and contributed revenue of AED2.068 billion ($563 million
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
Business
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Sipchem 9M net profit down 67%
Business
JPMorgan Q3 profit at $13.2bn
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Delta posts Q3 profits of $1.1b Â
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Birkenstock to list on NYSE
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Business
Solutions+, EIH sign MoU
The pact will help in creating job opportunities in the UAE.
- The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
- The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.
Business
MBC Group IPO plea okayed
The conglomerate intends to sell 33.25 million shares.
- The number of shares represent 10 percent of the capital of the Saudi media conglomerate.
- The company's prospectus will be published ahead of the planned share sale, the market regulator said in a statement.
Business
Yalla 9M revenue at $237.9m
The results underscore the firm’s robust financial performance.
- The company's net margin remained exceptionally high at 41.4 percent, highlighting its strong monetization capabilities.
- Yalla's average monthly active users experienced significant growth, surging by 13.6 percent to 35.1 million in Q3 2023.