Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
Business
ADNOC to deploy UAE-made drones
Business
ADNOC signs pacts with 30 firms
Business
ADNIC okays 45% dividend for 2024
The company achieved its highest ever revenue and net profit.
Business
Business
e& HI profit up 2.5%
The company’s consolidated revenues reached AED 26.3bn.
- The company’s consolidated revenues reached AED 26.3 billion, an increase of 3.8 percent over the corresponding period last year at constant exchange rates
- Consolidated EBITDA remained steady in reporting currency at AED 13.4 billion, while it increased by 4.1 percent in constant currency, resulting in an EBITDA margin of 51 percent
Business
Boeing shares surge
The company is all set to resume 787 jet production.
- The 787's travails date to late summer 2020, when the company uncovered manufacturing flaws with some jets. Boeing subsequently identified additional issues.
- The difficulties curtailed deliveries between November 2020 and March 2021. Boeing suspended deliveries later in spring 2021 after more problems surfaced.
Business
HSBC H1 pre-tax profit falls
Pre-tax earnings sank 15 percent to $9.2 billion.
- Executives are expected to field questions about a restructuring bid from its biggest shareholder Ping An Insurance Group.
- The bank rebuffed calls to spin off its Asian activities on the eve of a shareholder meet
Al Rajhi Bank H1 profit is up 21%
Operating income grew because of higher investment income, banking fees, and exchange income, the bank said.
- Operating income grew because of higher investment income, banking fees, and exchange income, the bank said
- But the depreciation, higher salaries, and employee benefits weighed on costs during the six-month period, leading to a 4.5 percent rise in operating expenses
Business
Arab Bank H1 profit $252m
The profits grew by 38 percent to $252 million.
- Â The Group maintained its strong capital base with a total equity of $10.2 billion.
- The Group loan portfolio grew by 6 percent to reach $35.7 billion as of June 30, 2022 compared to $33.8 billion for the same period last year.
Standard Chartered posts record profit in H1 of 2022
The bank's profit rises 28% to US$581 million in the first half.
- The bank witnessed double-digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana
- The bank’s operating profits has also increased to with US$581 million, a 28% increase in operating profit compared to last year
Business
QEWC finalizes buying 40 percent shares of Nebras
Qatar Electricity and Water Company (QEWC) said Raslaffan Operating Company WLL, a wholly-owned subsidiary of QEWC completed the purchase of...
- QEWC said that the completion of the purchase process came as a continuation of the statement issued by the company on January 4
- On January 4, QEWC said Raslaffan Operating Company WLL has completed purchase of 40 percent of the share capital of Nebras Power
Business
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the...
- Eni said in a statement that bottom-line Q2 net profit increased 15-fold to $3.9 billion
- For the whole of 2022, Eni confirmed it was aiming for operating profit of 'at least' $1.22 billion
Business
ExxonMobil Q2 profits rises to US$17.9bn
ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil...
- ExxonMobil's Q2 profits nearly quadrupled to $17.9 billion that underscored the oil and natural gas prices
- The US oil giant's revenues in the second quarter rose 68.7 percent to $111.3 billion
Business
Alpha Dhabi reports net profit of US$2.2bn in H1 2022
Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of...
- Alpha Dhabi reports net profit of US$2.2 billion in H1 2022 ending June 30, up from US$ 453 million in the corresponding period last year
- The firm is also starting to see the benefits of its expansion outside the UAE with overseas revenue accounting for US$ 572 million
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
Business
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EWEC, Masdar sign purchase pact
Business
ADNOC to deploy UAE-made drones
Business
ADNOC signs pacts with 30 firms
Business
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Evergrande shares up 28 percent
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Najm inks pact with iot squared
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EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
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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
Business
Emirates, Safran sign pacts worth $1.2bn
Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.
- The new seats will offer a host of enhancements that set a new standard for comfort, privacy and convenience.
- Safran Landing Systems will be supplying high performance wheels and carbon brakes for the Emirates A350 fleet.
Business
ADNOC Gas net income $3.37bn
The company's third-quarter revenue grew by 8% to $5.80 billion.
- Net income for the quarter increased by 13 percent quarter-on-quarter (Q-o-Q) to $1.116 billion.
- ADNOC Gas expects to pay its inaugural interim cash dividend of $1.625 billion with payments commencing on 14 December 2023.