DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
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SVC inks pact with IMPACT46
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RSI buys stake in First Fix
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Ducab bags 30 major contracts
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DIB to buy stake in TOM Group
Geostrategy
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Sony trims annual profit forecast
Expenses incurred on acquisition of Bungie partly responsible.
- Sony Group now predicts net profit for 2022-23 will total 800 billion yen ($6 billion), down from its previous estimate of 830 billion yen.
- Sony said lower sales of games by non-house developers will likely dent its overall sales figures this financial year.
Business
DFM H1 profit up up 63 percent
The second quarter profit increased by 134 percent.
- The net profit of the second quarter of 2022 increased by 134 percent to AED35.9 million compared to Q2- 2021's level of AED15.3 million.
- The Company's total consolidated revenue reached AED163.8 million in H1-2022 compared to AED136.6 million during H1-2021.
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
TotalEnergies doubles Q2 profit
Rising oil, gas prices are yielding bumper profits across the sector.
- TotalEnergies profit amounted to $5.8 billion in the period from April to June.
- TotalEnergies second-quarter sales were up 37 percent at 74.8 billion euros.
Business
FAB profit up 50 percent
The company's net profit amounted to $2.18 billion.
- FAB said the total income was AED12.5 bn, up 31% year-on-year
- Customer deposits reached AED648 billion, up 8% sequentially
Business
Etihad profit for H1 $296 million
The profits rose despite 60 percent hike in fuel costs.
- Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75 percent.
- Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered.
Business
DP World signs two deals
The projects will strengthen F&B cluster in Jebel Ali.
- The new integrated quayside facilities will enhance year-round availability and production of essential grains and pulses, DP World said.
- The concessions with Adroit Canada and Al Amir Foods in the Jebel Ali Port will ensure a reliable, consistent, and safe agricultural value chain within the region, it added.
Business
Multiply H1 2022 profit up US$126m
Net profit equates to a healthy 91% of revenue for the period.
- Net profit equates to a healthy 91 percent of revenue for the period with investment and other income of AED 300 million helping to drive profitability
- The Group continues to benefit from a strong liquidity position, with AED 3.24 billion in cash and bank balances and negligible debt
Business
UDC profit up 23% in H1 2022
The company earned a profit of US$37,302,472 in HI 2021.
- The EPS amounted to QR 0.047 as of June 30, 2022, versus an EPS of QR 0.038 for the same period in 2021
- United Development Company was established in 1999 and has an authorized capital of QR 3.5 billion
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
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Birkenstock declares IPO prize
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SVC inks pact with IMPACT46
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RSI buys stake in First Fix
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Ducab bags 30 major contracts
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Emirates, Safran sign pacts worth $1.2bn
Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.
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ACWA Power, SEC sign PPAs
The agreements signed with SPPC are valued at $3.9 billion.
- The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.
- Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.
Business
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.
- The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
- Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Business
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
- London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
- This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.