ADNIC net profit $55.64m
Business
EIH gives $27.2m dividend
Business
QAMCO’s H1 net declines 60.7%
Business
SoftBank Group Q1 loss $3bn
Business
Eshraq Q2 profit $9.79m
Business
Yahsat H1 net income up 5%
Business
Siemens Energy posts Q3 loss
Business
Business
Petrobras 2021 profit hits $20bn
Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.
- Net profit for the final quarter last year came in at $5.64 billion, bringing 2021's total to $19.88 billion
- Petrobras said this was a stark contrast to 2020's total of just over $1 billion due to effects of the pandemic
Business
QDB inks deal with QSC
Qatar Development Bank (QDB) will support Qatari entrepreneurs and innovators, small and medium-sized companies, to help diversify the country's economy.
- The MoU provides for the support of innovators of the Qatar Scientific Club by providing financial grants
- It also helps by providing technical consultancy to manufacture and test the prototype for innovation
Business
Tibbiyah closes IPO at $22 million
Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region.
- The retail offering was 12.63 times covered after allocating one million shares to individual investors
- The share offer price was set at Saudi Riyal 82 ($22), Aldukheil Financial Group said in the statement
Business
ADNOC L&S and AG&P sign storage pact
ADNOC L&S' LNG Carrier Ish will be used as a Floating Storage Facility.
- Under the agreement terms, starting Q3 2022, AG&P will use the carrier for the first LNG Import Terminal in the Philippines at Ilijan in Batangas Bay (PHLNG).
- The vessel is part of a fleet of eight LNG vessels operated by ADNOC L&S and is currently under contract to ADNOC LNG, a subsidiary of ADNOC.
Business
Alibaba shares slump 5%
The drop followed reports that the Ant Group was being probed.
- Chinese regulators launches a wide-ranging crackdown on alleged anti-competitive practices by Alibaba and other domestic tech giants
- Chinese Food delivery giant Meituan shares has plummeted over 20 per cent since Friday which is the biggest fall of the stock
Business
Mubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for...
- PDG is a leading Pan-Asia data center operator with a footprint across key Asian digital economies
- PDG has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries
Business
HSBC 2021 profits double
The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before,...
- The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before, helped by lower bad loans and operating expenses
- The lender endured a tumultuous 2020 like the rest of the banking sector as the virus outbreak rocked the economy
Business
Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.
- The Jeddah-based pharma retailer made revenues of SR8.6 billion ($2.3billion) during the year
- Nahdi currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE
Business
Kamco Invest net profit $34m
Total revenue nearly doubles to reach $99.5m in 2021.
- Revenues from fees and commissions increased by 34.3 percent compared to 2020 to reach KWD20.2m.
- The company said it raised over $1.1 billion for several products and transactions, distributed around $235mn to clients.
Business
BHM posts 125 percent rise in profit
The company nearly doubled its brokerage revenues in 2021.
- The company attracted 1,500 new accounts over the past year compared to 1,060 in 2020.
- BHM said it allocated a total income during 2021 of AED 65.4 million compared to about AED 41 million last year with a growth rate of 60 percent.
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Huawei H1 revenue at US$43.3bn
Business
ADNIC net profit $55.64m
Business
EIH gives $27.2m dividend
Business
QAMCO’s H1 net declines 60.7%
Business
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SoftBank Group Q1 loss $3bn
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Eshraq Q2 profit $9.79m
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Yahsat H1 net income up 5%
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Business
New CEO appointed in SRC
Majeed Al Abduljabbar will be the CEO from January 1, 2024.
- Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
- He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).
Business
Mobily 9M 2023 profit up 41%
Revenues for the period grew by 7.5 percent year-on-year.
- Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.
- Reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million.
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.