SABIC H1 net profit slumps 87%
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DAE H1 profit up 13%
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Mubadala invests in Aligned
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e& H1 net profit $1.27bn
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Ooredoo Algeria gets new CEO
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DFM 2021 net profit $28m
Its total revenues reached AED294.6m in 2021, reduces expenses by 4 percent.
- In the fourth quarter of 2021, the net profit increased by 269 percent to AED65.7 million compared to AED17.8 million in the corresponding period of 2020.
- The company's Board of Directors recommended a 3 percent cash dividend to the shareholders, which is equivalent to AED240 million.
Business
Sony to buy Bungie
Bungie is based not far from Microsoft headquarters in the US.
- Sony's deal comes weeks after Microsoft unveiled a landmark $69 billion pact to acquire "Call of Duty" maker Activision Blizzard
- "Halo" franchise of Bungie is considered to be among the video games that contributed to the popularity of Xbox consoles.
Business
Arab Bank profit up 61%
The net income after tax rose from $195.3m to $314.5m.
- The Arab Bank Group consolidated the financial statements of Oman Arab Bank under its group accounts
- This increased total assets by $8.4 billion to $63.8 billion, compared to $54.4 billion for the same period last year
Business
SACC picks board heads
It has also formed several panels that will function for three years.
- The SACC has said Mohammed Abdulaziz ‎Al Sarhan, an independent member, has been appointed chairman ‎of the Board of Directors‎
- It also announced the appointment of Raed Ibraheem Al Mudaiheem, another independent member, as the Vice-‎Chairman of the board‎
Business
Applebees, IHOP in UAE soon
The first location is scheduled to open in Dubai later this year.
- Dine Brands International is set to open multiple Applebee's Neighborhood Grill + Bar and IHOP restaurants in the UAE
- The first location will open in Dubai later this year through an agreement with established IHOP Franchisee
Business
Toyota is top-selling automaker
The company overcomes chip shortage, supply chain woes.
- The Japanese auto giant said it sold nearly 10.5 million vehicles in 2021, a jump of about 10 percent from 2020
- In 2021, "the effects of the spread of Covid-19 were less severe than in 2020," Toyota said in a statement
Business
LVMH sees record sales, profit despite pandemic
The world's leading luxury group more than recovered from the coronavirus pandemic as it earns a record €64.2 billion ($71.5bn)...
- One reason for the luxury group's out-performance was improved profitability
- Its operating margin rose to 26.7 percent, up from 21.4 percent in 2019
Business
Auto alliance to invest $25 bn
The investment in electric vehicles spread over next 5 years.
- Nissan, Renault and Mitsubishi Motors said the latest outlay followed $11 billion already spent on its "offensive strategy in electrification".
- The alliance vowed to boost cooperation by using five common manufacturing platforms for most models.
Business
FAB’s 2021 profit hits AED12.5bn
This marks a 19 percent increase year-on-year.
- Asset quality metrics remained healthy, underpinned by prudent risk management and the relief measures under the UAE Central Bank TESS programme
- Zayed Al Nahyan, chairman of the FAB, added that FAB's Board of Directors recommends a dividend per share of 70 fils equivalent for the full year ended 31st December 2021
Business
iPhone retakes top spot in China
iPhone accounted for 23% of the market in Oct-Dec.
- A surge in sales saw the iPhone maker account for 23 percent of the highly competitive market in October-December
- A surge in sales saw the iPhone maker account for 23 percent of the highly competitive market in October-December
Company News
DUBAL, Oriental Copper ink MoU
Business
SABIC H1 net profit slumps 87%
Business
DAE H1 profit up 13%
Business
Mubadala invests in Aligned
Business
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e& H1 net profit $1.27bn
Business
Ooredoo Algeria gets new CEO
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
Delta posts Q3 profits of $1.1b Â
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."
EasyJet, Airbus sign US$20bn deal
The no-frills airline will buy 157 aircraft from Airbus.
- The airline on Thursday said it had "entered into conditional arrangements" with European planemaker Airbus for 157 aircraft
- Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said
Business
Jarir’s 9M profit down marginally
The fall was attributed to an increase in non-operating expenses.
- The third-quarter net profit rose by 8 percent to SAR 296.3 million, from SAR 273.72 million in Q3 2022, driven by a 4.8 percent rise YoY in sales.
- Total shareholders’ equity, no minority interest, stood at SAR 1.79 billion as of Sept. 30, 2023, down from SAR 1.80 billion a year earlier.