Adidas posts $92m Q2 profit
Business
EIH buys stake in Gewan Holding
Business
SABIC H1 net profit slumps 87%
Business
DAE H1 profit up 13%
Business
Mubadala invests in Aligned
Business
Business
Toyota profit beats estimates
The company was the world's top-selling carmaker in 2021.
- For the nine months to December, the firm logged net profit of 2.31 trillion yen, a jump of 57.8 percent on-year
- The Japanese auto giant, which kept its crown as the world's top-selling carmaker in 2021
Business
Al Seer Marine invests in AD Ports
With an investment of $326m, Al Seer now owns 7.36 percent of AD Ports.
- Founded in 2003 and with AED1 billion in paid-in capital, Al Seer Marine has over 1,200 employees.
- As of December 2021, the company’s assets amounted to AED6.1 billion, compared to AED717.81 million at the start of the year.
Business
Volume growth helps AD Ports Group post $230m net profit in 2021
The company posted a net profit of $230m in 2021, from $108m in 2020.
- As of 31st December 2021, the total assets of the Group stood at AED28.5 billion.
- In January 2022, the Group received ownership stakes from ADQ in two listed companies--Aramex and National Marine Dredging Company.
Business
BP profits $7.6bn in 2021
The company aims to cut emissions by 50 percent by 2030.
- BP posted a net profit of $7.6 billion (€6.7 billion) last year
- This followed a loss after tax of $20.3 billion in 2020
Science
Lockheed Martin nets NASA deal
The company will make a rocket to bring back rocks from Mars.
- According to the US space agency's statement, Lockheed Martin has won a NASA contract to build the rocket which will bring the first Mars rock samples to Earth in the 2030s
- NASA will launch a plan in 2026 to send the mini-rocket to Mars, carrying another rover responsible for collecting the rock samples
Business
Nakilat net profit $370m
This is the company's highest profit since its inception.
- Earnings per share (EPS) amounted to QR 0.24 as of 31 Dec 2021 versus Earnings per share (EPS) of QR 0.21 for the same period in 2020.
- For this period, the company's Board recommends a cash dividend at QAR 0.12 per share.
Business
Toshiba to split into 2 firms
This is a revision of an earlier proposal to divide into three companies.
- Toshiba aimed to complete the split in the second half of the 2022-23 financial year
- Toshiba has revealed its deal worth some $867 million to sell air-conditioning subsidiary Toshiba Carrier to the US-based Carrier Corporation
Business
DP World Q4 volume up 2.6%
The gross container volumes rose by 9.4% year-on-year.
- DP World has said its gross volume growth in 2021 overall was reportedly broad based
- India, Asia Pacific, Middle East & Africa, Europe, Australia, and the Americas were key growth drivers
Business
Meta stock value down $200bn
Mark Zuckerberg lost some $25 billion in value.
- Facebook founder Mark Zuckerberg had some $25 billion in value wiped from his personal holding by the rout on Wall Street
- Meta, which also owns Instagram and WhatsApp, has noted that it faces fierce competition for young users from the likes of TikTok
Business
Aldar Education gets $272m
Company's growth plan focused on three locations in Abu Dhabi.
- Aldar Education currently owns nine schools under Aldar Academies and Cranleigh Abu Dhabi and manages a further 11 schools.
- The company aims to increase the existing student capacity in Aldar Education’s owned and managed schools to over 40,000 seats by Academic Year 2024-25.
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Company News
Adidas posts $92m Q2 profit
Business
EIH buys stake in Gewan Holding
Business
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DUBAL, Oriental Copper ink MoU
Business
SABIC H1 net profit slumps 87%
Business
DAE H1 profit up 13%
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Mubadala invests in Aligned
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Presight AI, TOTM form joint venture
The JV will develop and deploy their combined proprietary technologies.
Business
Sipchem 9M net profit down 67%
There was a 70% QoQ drop in net profit for the third quarter of 2023.
Business
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Business
JPMorgan Q3 profit at $13.2bn
The bank’s revenues rose 22 percent to US$39.9 billion.
- One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
- NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers
Business
Presight, Samruk-Kazyna to form JV
Samruk-Kazyna is Kazakhstan's $70bn asset sovereign wealth fund.
- The joint venture aims to accelerate digital transformation in Kazakhstan.
- Presight will deploy its AI and big data analytics solutions and technologies.
Business
Delta posts Q3 profits of $1.1b
The company’s revenues rose 11 percent to $15.5 billion.
- Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
- The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."