ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.
Business
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Business
Google AI research hub in Paris to host 300 experts
The new hub part of a trend for big tech firms to base teams in European centers.
- In recent years, Google has poured investment into its engineering facility in Zurich, which also houses AI-focused teams from Meta, Apple and Microsoft.
- The French capital has long pushed to be regarded as a cutting-edge hub for tech firms, and Meta established an AI research team there in 2015
Business
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
- The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
- Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
- Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
- A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.
Business
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
- ESG’s total assets witnessed a massive rise, standing at US$833 million.
- This is a significant 168 percent growth compared to December 2022.
Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.
- Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
- Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
Business
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.
- Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
- On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
Business
Aramex Q4 net profit doubles
The firm reported a marginal YoY decline in Q4 revenue.
- Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
- The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.
ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.
Business
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ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
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BYD surpasses Tesla with record revenue
The Chinese EV giant's net profit was $5.55 billion for 2024.
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DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
- It reported consolidated full-year revenue of AED 30.98 billion and EBITDA of AED 15.73 billion for 2024.
- It said the consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water, and cooling services.
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Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
- Argaam reported that the company's revenue increased by 38.9 percent year-on-year (YoY) to SAR 3.75 billion in 2024 driven by higher real estate sales and rental income.
- The company attributed the increase to stronger sales revenue, supported by higher property sales, along with growth in rental income.
Business
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
- The dividend will be paid on or around 11th April 2025, to all shareholders of record as of 27th March 2025.
- ADNOC Drilling’s full-year revenue increased significantly to a record $4.034 billion, rising by 32 percent year-on-year.