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Company News

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

DAE to acquire 17 aircraft for $1 bn

This portfolio comprises 100 percent next-generation aircraft

Business

stc net profit for 2024 $6.58bn

This is an increase of 85.7 percent over the previous year.

Business
Business

IHC acquires stake in Kaylon

The 50 percent stake was acquired for $490m.
  • Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries.
  • The acquisition comes four months after its AED7.3 billion investment in Indian conglomerate Adani Group- green energy-owned companies.
Business

Aramex H1 profit is $0.75 bn

The company sustains a very healthy liquidity profile.
  • On a group level, GP margins remained stable over six-month period, driven by accelerated growth in the Logistics and Freight-Forwarding business
  • Aramex's strong balance sheet will support the company's growth strategy, including investments in digital and technological infrastructure
Business

Air Arabia H1 profit $122.8m

More than 2.7 million passengers flew with Air Arabia from Mar-June.
  • More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs.
  • The company’s turnover for the second quarter of 2022 increased by 125 percent as demand for air travel increased.
Business

ADNIC H1 net profit $50m

The company's gross written premiums up by 20.9%.
  • The company's net underwriting income stood at AED253.9 million, against AED280.3 million during 2021.
  • ADNIC's net investment and other income were AED62.0 million, compared to AED87.3 million last year.
Business

Salam International H1 net profit $8.6m

The profit dropped by 3.21 percent compared to H1 2021.
  • In a bourse filing on Tuesday, the company said the Earnings per share (EPS) amounted to QR 0.027 versus QR 0.028 for the same period of 2021.
  • brokerage firm Dlala Holding posted a net profit of QR 4.943 million for the first half of 2022.
Business

Vodafone Qatar profit up 61%

Net profit for H1 2022 reaches $60 million.
  • The increase in profit is mainly due to growth in earnings before finance, tax, depreciation and amortization
  • Vodafone Qatar commenced commercial operations in 2009 with a capital of QR 4.277 billion
Business

Micron to invest in chip production

The firm will invest $40bn by the end of the decade.
  • There has been a global shortage of computer chips in recent months caused by production and transportation snags.
  • The spending on US production is part of the company's planned $150 billion global investment in manufacturing.
Business

IHG H1 profits surge to $216mn

IHG said it would resume its interim dividend
  • InterContinental Hotels Group said that profits rose sharply in the first half after Covid travel restrictions were lifted around the world
  • IHG, which also owns brands such as Crowne Plaza and Holiday Inn, said that first-half revenues jumped by 52 percent to $1.8 billion.
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

DAE to acquire 17 aircraft for $1 bn

This portfolio comprises 100 percent next-generation aircraft
Business

Company News

ADNOC Drilling posts $446m net profit

ADNOC to acquire stake in Absheron field

Adidas posts $92m Q2 profit

Americana posts $144m H1 net profit

EIH buys stake in Gewan Holding

Latest News

DTC sets IPO offer price range

Final offer price will be fixed through a book-building process
Business

PureHealth to list on ADX

The company is expected to start trading on ADX in December 2023.
Business

Saudi EXIM Bank, Obeikan AGC ink pact

Obeikan AGC Glass will have an export credit insurance policy.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

AJEX, MODON sign partnership

AJEX will have rights to operate warehousing facilities at Modon.
  • These facilities will be utilized for the storage of a diverse range of goods, including hazardous materials, food and beverage products, and general items.
  • The newly secured warehousing space aligns with Dammam's pivotal role in the Kingdom's oil, gas, and industrial sectors, AJEX said in a statement.
Business

EPI to make assembly parts for Raytheon

EPI is part of the Platforms Systems cluster within EDGE.
  • EPI will supply prototype quantities of machined aluminium and assembly parts for the Coyote® Counter-UAS interceptor.
  • The agreement supports the 'Make it in the Emirates' initiative, a comprehensive plan for developing the UAE's industrial sector.
Business

Tabreed 9M profit at $218m

This is due to the steady growth in its consumption volumes.
  • Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
  • This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.