Alhokair Group wins $202m contract
Alpha Facilities Contracting Company has awarded the contract.
Business
Maersk and Hapag-Lloyd ink deal
The cooperation deal between the two will begin February 2025.
Business
KEZAD Group, GFCF ink deal
Business
Arada H1 sales $1.15bn
Business
Business
Big oil firms rebuked
Big oil companies said their 2021 profits were $66.7 billion.
- The whopping 2021 profits of Shell and BP triggered calls for a windfall tax on the profits of energy firms in the UK
- French Presidential candidate Yannick Jadot also spoke out against profits made "on the back of French men and women"
Business
IHC reports $3.08bn profit
The company posted an all-time-high annual revenue in 2021.
- IHC’s total revenue grew 303 percent in 2021 to AED 28.3 billion ($7.71 billion)
- This beat its previous year’s revenue record of AED 7 billion ($1.91 billion)
Business
Alpha Dhabi revenues rise 400 percent
The gross profit in 2021 was AED5.1 billion in 2021, compared to AED 218 m in 2020.
- The company said the performance was driven by the strong and consistent business activities of its subsidiaries.
- Alpha Dhabi Holding made strategic investments in 2021 by acquiring a 17.5 percent stake in Aldar which was increased to 30 percent at the year-end.
Business
Tesla makes 4th car recall
The decision was taken due to a feature that drowns out audible warnings.
- The automaker faces increasing scrutiny from American regulators, as watchdogs have accused Elon Musk's firm of pushing safety limits.
- US authorities have set specific standards for the sounds that electric and hybrid vehicles must make
Business
ADNIC 2021 profit is AED401.8 mn
The Company’s earnings per Share are AED 0.70
- ‘The Company’s diversified investment portfolio delivered excellent results with an increase in the Investment Income of 25.6% compared to 2020’
- In the fourth quarter of 2021, ADNIC extended its partnership with Al Bayt Mitwahid Association to support the association’s wide range of community welfare initiatives
Business
Agthia Group revenue up 49 percent
The company posted a net profit of $58.81 million in 2021.
- The growth in revenues was attributed to strong growth in the Protein and Snacking segments.
- The Consumer-Business contribution to Agthia's top-line almost doubled versus last year, reflecting the positive growth.
Business
Milaha 2021 profit $199m
The company's profit in 2020 was $16.20 million.
- The Board of Directors decided to recommend to the General Assembly to distribute a 30 percent cash dividend of the par value of a share.
- It is equivalent to QAR 0.30 per share, representing a payout ratio of 47 percent of 2021 net profit.
Business
Dana Gas posts $317m profit
The company's revenue rose 30 percent to $452 million in 2021.
- The company revealed the profit in Preliminary Unaudited Financial Results for the full year ended 31st December 2021
- Revenue increased 30 percent to $452 million in 2021 compared to $349 million in 2020 due to higher oil prices
Business
CBD net profit $394
The bank's assets reach a record AED114 billion: CEO
- The CEO attributed the net profit to improved net interest income, stable non-funded income and lower expected credit losses.
- Operating income for the full year of 2021 amounted to AED3.18 billion, an increase of 6.9 percent, attributable to higher Net Interest Income.
Business
L’Oreal sales, profits surge
Sales rose by 15.3% from last year to $36.9 bn.
- Sales rose by 15.3 percent from last year to 32.3 billion euros ($36.9 billion), marginally above the analyst consensus figures compiled by Bloomberg and Factset
- net profits hit 4.6 billion euros, up by more than a quarter from 3.6 billion in 2020 and 3.75 billion in 2019
Alhokair Group wins $202m contract
Alpha Facilities Contracting Company has awarded the contract.
Business
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TCS Q1 profit at US$1.35bn
Business
Yahsat to invest US$100m
Business
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Invictus plans $272m expansion
Business
KEZAD Group, GFCF ink deal
Business
L’Occitane shares nosedive
Shares dropped 29% after talks on taking the firm private called off.
Business
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Business
Turkish Airlines orders 10 A350 Airbus
The airline disclosed no financial details in a statement.
- Turkish Airlines now has 14 A350-900s and 20 Boeing 787-9 Dreamliners, which is the European jet's main competitor in the long-range.
- An A350-900 was worth 317.4 million euros ($343 million) in 2018, when the aircraft manufacturer's price catalogue was last released.
Business
Mubadala, Petrobras sign MoU
The two parties will explore potential investment in a biofuel project.
- The biofuel project currently being developed by Mubadala Capital in the State of Bahia, Brazil.
- The MoU builds on biorefinery project to produce renewable diesel and sustainable aviation fuel derived from Macauba, a native Brazilian crop.
Business
Emirates NBD invests in Komgo
The equity investment was made by Emirates NBD's Innovation Fund.
- Emirates NBD's corporate venture capital arm will enable the Group to invest in tech start-ups and companies supporting its digital strategy.
- Komgo has diverse customer base that includes more than 200 multinational corporations and global trade banks.