Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
Business
Yalla Group H1 revenue $152m
Business
KIB posts $19.5m net profit
Business
APIC H1 net profit down 39%
Business
Estithmar opens branches in Iraq
Business
Business
Telenor subsidiary sale approved
Myanmar junta Okayed the sale to Lebanese conglomerate M1 Group.
- The Southeast Asian nation has been in chaos since a coup last year sparked huge protests and a bloody military crackdown on dissent, sending its economy into freefall.
- In July, Telenor cited junta demands that it install monitoring equipment on the network as a reason for leaving the country.
Business
Meta sued over scam crypto ads
The ads were for schemes apparently hailed by prominent figures.
- Australia's consumer protection commission said it had started legal proceedings against Meta platforms for breach of consumer or securities laws
- Meta vowed to defend itself, saying in a statement that it sought to stop scam ads by using technology to detect and block them
Business
P&O Ferries suspends passenger and freight ships, denies bankruptcy
DP World-owned P&O Ferries on Thursday suspended its passenger and freight ships but denied the group was heading into bankruptcy....
- P&O Ferries operates four routes serving Britain, France, Ireland and the Netherlands.
- The company is badly hit by fallout from COVID-19 lockdowns and travel restrictions over the last two years.
Business
Emirates Steel exports up 50 percent
The firm's capacity is enough to meet the domestic market's demand.
- The countries where Emirates Steel exports its products increased to 56 in 2021 in comparison to just 38 in 2019.
- Emirate Steel's expansion strategy is aligned with the National Strategy for Industry and Advanced Technology' Operation 300bn.
Business
Al Hamra to launch $270m project
The villa project is located within the Al Hamra Village residential community.
- This idyllic island community project offers views of the turquoise Arabian Gulf and the lagoon.
- Falcon Island is set to be completed within two years of its launch, which will be implemented in phases.
Business
ADNIC to pay $62m in dividends
The year 2022 marks the 50th anniversary of the company.
- Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said the distribution of 40 percent cash dividends demonstrated the company’s robust financial performance.
- Futoon Hamdan Mohammed Al Mazroui was welcomed as the first woman to join the company's Board of Directors.
Business
Dana Gas to pay 4.5 fils per share
The total dividend paid for 2021 now stands at 8 fils.
- For the full year 2021, the company achieved a net profit of AED1.2 billion ($317 million)
- The Company's collections in 2021 were the highest ever at AED1.4 billion ($377 million), and the year-end cash position stood at AED678 million ($185 million).
Business
Evergreen ship runs aground
The Ever Forward ran aground in the Chesapeake Bay in the US.
- The accident came almost exactly a year after the 200,000-ton container ship MV Ever Given blocked the Suez Canal for six days
- The canal is a vital artery from Asia to Europe that carries 10 percent of global maritime trade and provides Egypt with vital revenue
Business
Sanad and Thales sign MoU
The two companies will collaborate on aviation services.
- Knowledge exchange will be a key focus under the terms of the agreement, and Thales will serve as a partner in diversifying Sanad’s business portfolio towards industrial services.
- Sanad and Thales will work collaboratively on regional and international projects, wherein Sanad would lead on providing cutting-edge industrial systems.
Business
Al-Dawaa starts trading on TASI
The pharmacy chain operator collected $500 million from shares buyers.
- The operator of one of Saudi largest pharmacy chains, Al-Dawaa offered 25.5 million shares in an initial public offering, representing 30 percent of capital.
- Al-Dawaa operates a network of pharmacies with over 800 outlets across 130 cities in Saudi Arabia. It posted a revenue of about 5 bn riyals ($1.3 bn) and profit of 246m
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Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
Business
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DP World H1 EBITDA $2.6bn
Business
Tencent Q2 net income $3.6 bn
Business
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4.4m travel by SAR in H1 2023
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Yalla Group H1 revenue $152m
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KIB posts $19.5m net profit
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APIC H1 net profit down 39%
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Business
NHC, NAVER Cloud ink pact
The pact aims at establishing advanced digital solutions.
- The agreement aims to boost cooperation, achieve common goals, exchange experience in the application of the innovative solutions.
- The pact will help achieve the strategic visions of the municipal and housing sectors by adopting the best technologies for a sustainable future.
Business
General Motors Q3 profit surge
Revenues rose five percent to $44.1 billion, the company said.
- The big US automaker reported third-quarter profits of $3.1 billion, down seven percent from the year-ago period but better than analyst estimates
- GM notched higher vehicle sales in the United States amid still-strong pricing trends for popular truck and sport utility vehicles
Business
Stora Enso posts loss again
Stora Enso registered a loss of $272m euros in Q2 2023.
- The Finland-based company said it lost 34 million euros in the third quarter, down from the 367-million-euro net profit during the July to September period last year
- After experiencing sales growth in 2021 and 2022, Stora Enso saw sales tumble by 28 percent in the third quarter compared to the same period last year, to 2.1 billion euros