SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
Business
QAMCO’s H1 net declines 60.7%
Business
SoftBank Group Q1 loss $3bn
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
Business
Yahsat H1 net income up 5%
Business
Siemens Energy posts Q3 loss
Business
Business
Twitter executives exit, hirings halt
Kayvon Beykpour, a general manager, said he was ousted from the company.
- Musk's $44-billion deal to buy Twitter was announced last month but still needs the backing of shareholders and regulators.
- Musk's endorsement of a Trump return triggered fears among activists that Musk would "open the floodgates of hate."
Business
TAQA Group’s Q1 income up 37%
The company reported financial results for 3 months ended March 31
- The company delivered strong performance underpinned by its contracted utilities businesses and boosted by higher commodity prices
- The Group revenues increased to AED 12.4 billion, 20 percent higher than the prior-year period, primarily due to higher commodity prices within the Oil & Gas segment
Business
Amanat reports 39% growth
Amanat recorded a total income of AED46.9 million
- The company recorded total income of AED 46.9 million, an increase of 40 percent on the AED 33.5 million recorded in Q1-2021
- Adjusted net profit rose to AED32.1 million in the quarter, a 39 percent increase on the AED23.1 million reported in the same quarter of the last year
Business
Fertiglobe revenue grows by 118 percent
The company raised its H1 2022 dividend guidance to at least $700 million.
- Adjusted net income in Q1 2022 was $361 million, increasing by 332 percent year-on-year.
- In March, Fertiglobe was announced as a founding constituent of the FTSE Russell ADX 15 Index.
Business
Emirates, Jafza sign MoU
They will explore ways to offer travel incentives to SMEs.
- The MoU was signed by Dina Al Herais, Emirates’ Vice President, Commercial Products, B2B Corporate & Leisure, and Ebtesam Ahmad Alkaabi, Head of Sales, Jafza Sales.
- Emirates currently has over 20,000 SMEs enrolled in its Business Rewards program.
Business
Air Arabia Q1 profit at $79.24m
The profits were up 756% compared to $9.26 million in 2021.
- More than 2.4 million passengers flew with Air Arabia between January and March this year, across the carrier’s five hubs
- This marked an 86-percent increase compared to a total of 1.3 million passengers carried in the first quarter of last year
Business
Disney profit slips in Q1
The company’s streaming service gained 7.9 million more subscribers.
- The entertainment giant reported net income of $470 million, just over half of the $912 million profit it made in the same period a year earlier
- But park attendance that had fallen due to the pandemic rebounded and the Disney+ television streaming service gained 7.9 million subscribers to 137.7 million
Business
IHC doubles its profit in Q1
The Abu Dhabi company has posted $970m profit.
- In comparison, the profit in Q1 2021 was reported to be AED 1.5 billion ($410 million)
- Also, with a revenue of AED 10.49 billion; the total assets stood at AED 96.04 billion
Business
Alpha Dhabi Q1 net profit $773m
Revenues stood at AED8.17 billion, a year-on-year increase of 700 percent.
- This was the first set of Q1 results for Alpha Dhabi since its direct listing on ADX in June 2021.
- The company's acquisitions and investments totaled AED5.21 billion.
Business
Toyota posts record net profit
The growth was helped by strong sales and a cheaper yen.
- The Japanese auto giant kept its crown as the world's top-selling carmaker in 2021
- For the current year to March 2023, it said it expects to post an annual net profit of $17.3 billion
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
Business
Company News
EIH gives $27.2m dividend
Business
QAMCO’s H1 net declines 60.7%
Business
SoftBank Group Q1 loss $3bn
Business
Latest News
Eshraq Q2 profit $9.79m
Business
Yahsat H1 net income up 5%
Business
Siemens Energy posts Q3 loss
Business
ADNOC to deploy UAE-made drones
ADNOC's partnership with EDGE Group aimed at cutting emissions.
Business
Baker Hughes bags 400m ADNOC award
Baker Huhges will supply all-electric compression systems.
Business
Most Read
Business
Evergrande shares up 28 percent
Evergrande estimated it had debts of $328 billion at the end of June.
- When trading resumed Tuesday, its shares initially jumped more than 60 percent before paring much of their gains to close up 28 percent.
- Last Thursday Evergrande said its founder and chairman Xu Jiayin was suspected of "illegal crimes" after reports he was being held by police.
Business
Saudi Cruise signs pacts with leading firms
The agreements are aimed at boosting investment in Aroya Cruise.
- It signed partnerships with the ICEway for IT services, SourceToad for software engineering and Otalio for property management systems on board ships
- In September 2023, Saudi Cruise announced cooperation with top-notch companies in the sector, MJM Marine and DE Wave for Aroya.
Business
Najm inks pact with iot squared
The aim is to advance insurance services in the Kingdom.
- iot squared is a joint entity between the Public Investment Fund (PIF) and STC Group and it provides leading IOT solutions in the logistics service field.
- Najm for Insurance Services was set up in 2007 due to cooperation between insurance firms, Saudi Central Bank and the General Department of Traffic.