INSEAD Day 4 - 728x90

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.

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

Business

e& reports $2.94 billion in net profit

e&’s subscriber base rose 11.7% to 189.3m

Business
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.
Business

Amanat Holdings profit up 7%

The company posted H1 income of $26.33m.
  • This income is on an adjusted basis, excluding the prior year's gain on sale and trading results from divested entities.
  • In H1 2022, Amanat's healthcare platform continued to record strong year-on-year growth.
Business

DAE posts H1 profit of $140.1m

Its profit increased 186 percent in first six months of 2022
  • Dubai Aerospace Enterprise reports 186% growth in profit in the first six months of 2022
  • DAE says cash flows from operating activities increased by 36 percent to $678.5 million.

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.
Business

Company News

DUBAL, Oriental Copper ink MoU

SABIC H1 net profit slumps 87%

DAE H1 profit up 13%

Mubadala invests in Aligned

Arabian Drilling H1 profit up 36%

Latest News

Gulftainer extends concession pacts

The agreements with Sharjah Ports extended for another 35 years.
Business

AJEX, MODON sign partnership

AJEX will have rights to operate warehousing facilities at Modon.
Business

EPI to make assembly parts for Raytheon

EPI is part of the Platforms Systems cluster within EDGE.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Siemens posts record profit

Its shares rose over 6 percent on the Frankfurt Stock Exchange.
  • The company, whose businesses range from making trains to automating production processes, earned a net profit of $8.62 billion in 2022-2023.
  • Sales, at $84.6 billion, rose 11 percent on the previous year while for 2024, the group expects revenue to grow in a range of between 4 and 8 percent.
Business

Alstom to cut 1500 jobs

Alstom said it aims to cut debt by 2 billion euros by March 2025.
  • Alstom posted last month a negative cash flow of 1.15 billion euros ($1.25 billion) in the first half of its fiscal year.
  • The group said it was working on a "comprehensive operational, commercial, and cost efficiency plan" to reinforce its balance sheet.
Business

ADNIC reports $82m profit

This marks 16% increase compared to the same period last year.
  • The company's focus on market-leading underwriting and investment performance resulted in a net profit of AED 301.9 million
  • ADNIC's recently announced its intent to acquire a 51% stake in Allianz Saudi Fransi Cooperative Insurance Co