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Company News

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Al Rajhi profit up 26%

Operating income for 2025 increased 22% to SAR 39 bn.

Business

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Business
Business

DP World 2023 profit is $1.5bn

The company's revenue grew 6.6 percent to $18.25 billion.
  • DP World logged a 13 percent decarbonization in Scope 1 and Scope 2 carbon emissions.
  • The cash generated from the company's operating activities rose to $4.5 billion in 2023.

Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.
  • The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
  • The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Business

Lego net profit falls

Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
  • The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
  • Sales made directly to consumers through Lego's physical and online stores rose by four percent.

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.
  • The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
  • Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.
Business

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
  • The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
  • It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.
Business

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
  • Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
  • The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.
Business

TECOM 2023 net profit $299m

Revenue in 2023 grew by 10 percent YoY to $599 million.
  • The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus
  • TECOM Group committed to paying a dividend amount of $217 million per annum through September 2025.

JetBlue, Spirit Airlines cancel merger

Earlier, a federal judge ruled it violated US antitrust law.
  • Shares of Spirit slumped 14.5 percent in early trading Monday, while JetBlue rose 3.9 percent
  • Spirit said it has enlisted advisors on efforts to refinance and reduce debt payments
Business

EDGE Group, Indra form JV

It will make next-generation radar systems in UAE.
  • The new business entity will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
  • The JV will place a strategic focus on the continued development of sophisticated technologies, innovation and global market.
Business

Salik revenue soars to US$574m

Toll usage revenue rose 11.7% YoY to US$502million.
  • The total number of trips made through Salik’s eight toll gates grew by 10 percent over the course of the year.
  • Salik’s registered active accounts increased 16.0 percent YoY to approximately 2.4 million at the end of 2023.

Al Rajhi profit up 26%

Operating income for 2025 increased 22% to SAR 39 bn.
Business

Company News

Saudia to acquire 20 wide-body aircraft

ADIB’s Q1 net profit $517 million

Emirates Islamic Q1 profit $394m

Boeing to sell some assets to Thoma Bravo

TSMC first-quarter net profit soars

Latest News

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.
Business

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.
Business

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • Nearly 42 percent of buyers are under the age of 45, signaling growing demand for luxury wellness-focused living among younger demographics.
  • Notably, 67 percent of buyers are first-time Aldar customers, demonstrating Aldar’s expansive reach and the appeal of the Group’s thoughtfully curated destinations.
Business

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
  • For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.
Business

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.
  • Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
  • Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.