ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
Business
Evergrande shares begin trading
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eXtra net profit down 17%
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EWEC, Masdar sign purchase pact
Business
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
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.
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
Business
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Evergrande shares begin trading
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eXtra net profit down 17%
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Yalla 9M revenue at $237.9m
The results underscore the firm’s robust financial performance.
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DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
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Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.
- The extended agreements allow Gulftainer to manage, operate and further develop Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT) throughout this century.
- Gulftainer signed the original concession agreements for operating and managing the container terminal at Port Khalid in 1976 and the container terminal at Port Khorfakkan in 1986.
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.