Adidas posts $92m Q2 profit
Business
EIH buys stake in Gewan Holding
Business
DUBAL, Oriental Copper ink MoU
Business
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
Business
SAN Group to invest in RAKEZ
The firm will construct a sustainable hydrogen production unit in the zone.
- This biotech facility will consist of a research center, laboratory, desalination plant, greenhouse as well as hydroponic and aquaponic indoor systems.
- The project will be constructed with an investment of $3.2 million and will be operational at the end of 2022.
Business
DP World volume growth 9.4 percent
All DP World regions delivered volume growth, especially India.
- 2021 gross volume growth was broad-based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.
- Chief Executive Officer Sultan Ahmed Bin Sulayem said the performance was due to the company's continued investment in high-quality assets in the right locations.
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.
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ADNOC Gas H1 revenue $10.6bn
Business
Empower H1 2023 revenue at $333m
Business
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Adidas posts $92m Q2 profit
Business
EIH buys stake in Gewan Holding
Business
Renault shares fall as sales disappoint
The company's strategy is to sell fewer cars but at higher prices.
Business
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Business
FAB net profit up $3.4bn in 9M 2023
The bank reported total revenue of $5.6 billion.
- The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
- The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Business
Presight AI, TOTM form joint venture
The JV will develop and deploy their combined proprietary technologies.
- The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities.
- This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven.
Business
Sipchem 9M net profit down 67%
There was a 70% QoQ drop in net profit for the third quarter of 2023.
- The lower profit was due to a decline in revenues on lower product prices, as well as a fall in sales.
- In addition, the company's share of profits from investments in a joint venture and associates decreased, Argaam said.