Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
Business
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
Business
BT to axe 55,000 employees
Business
easyJet H1 loss $382m
Business
Business
Batelco net profit up 9 percent
Batelco said steady revenue growth led to this rise in profit.
- Batelco has announced net profit of BD15.7 million ($41.6 million) for Q3 2021
- This is a 9 percent increase from BD14.4 million ($38.2 million) for the corresponding quarter of 2020
Business
NBQ net profit at $53m
The net profit rose 10.61% in comparison to last year.
- The cost-to-income ratio stood at 32.22 percent in the first nine months of 2021
- The Capital Adequacy Ratio improved to 41.37 percent
Business
Aramco Q3 earnings up 158%
Higher oil prices and sales volumes led to the rise.
- Aramco's net income was $30.4 billion in the third quarter, up from $11.8 billion in Q3 last year
- This, even as free cash flow more than doubled to $28.7 billion
Business
RAK Properties profit rises 383%
Q3 net profit rose to AED197.9 million from AED40.97 million last year.
- Value of assets of the company increased to AED6.18 billion ($1.68 billion), a step up from AED5.8 billion ($1.58 billion)
- The rise was ascribed to increased investments in the development of hotel and residential projects
Business
Sabic to invest $1.37bn in UK
The investment is expected to improve operations at a UK plant.
- The company said that the investment will strengthen its operations
- England’s Prime Minister Boris Johnson appreciated the decision of investment
Business
Damac board okays Maple buy
Maple is wholly owned by Damac ex-chairman Hussain Sajwani.
- Damac said its board of directors, other than Sofyan Al Khatib, had reviewed the expert advice on the deal
- It had appointed KPMG as an independent valuer, Arqaam Securities LLC as financial advisor, and Al Tamimi & Company as its legal advisor
Business
Amazon quarterly profit slips
The company said its sales climbed to $110.8 billion
- The e-commerce colossus said its sales climbed to $110.8 billion, but its profit was about half of its net income from the same quarter last year
- Microsoft, Google parent Alphabet and scandal-hit Facebook have posted whopping profits this week
Business
GlobalFoundries makes its market debut on Nasdaq
The IPO comes at a time when demand for semiconductors and microchips is red hot due to the ongoing global...
- Earning a valuation of $26 billion, the GlobalFoundries IPO is one of the biggest stock market debuts of the year in the US
- The chipmaker had earlier announced the pricing of its initial public offering of 55,000,000 ordinary shares
Business
Facebook renames its company ‘Meta’
The new handle comes as the social media giant tries to fend off one of its worst crises yet and...
- The new handle comes as the social media giant tries to fend off one of its worst crises yet and pivot to its ambitions for the "metaverse" virtual reality version of the internet
- Facebook has just announced plans to hire 10,000 people in the European Union to build the "metaverse," with Zuckerberg emerging as a leading promoter of the concept
Business
IHC to acquire Arena for $98m
A consortium will hold the Arena shares in a 70:30 ratio.
- Arena Events Group is a London Stock Exchange-listed events services business.
- According to the terms offered, Arena shareholders will receive 21 pence in cash for each share.
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
Business
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Maaden Q1 net profit down 81%
Business
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Emaar EC Q1 losses $45m
Business
BT to axe 55,000 employees
Business
Alibaba quarterly revenue up 14 percent
Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).
Business
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Business
Eshraq Q2 profit $9.79m
The company had posted a loss of AED7 million in Q2 2022.
- The total operating income surged by 2,446.7 percent to AED44.31 million from a loss of AED1.89 million in Q2 2022.
- To date, Eshraq has sold seven land plots, representing total 27 percent of its existing land bank by book value for a total sale consideration of AED208 million.
Business
Yahsat H1 net income up 5%
The company reported a revenue of $205m in H1 2023.
- Yahsat said it delivered revenue growth in infrastructure, the Group’s largest segment providing communications capacity to the UAE government.
- Mobility Solutions, the Thuraya business providing mobile satellite services using L-band spectrum, recorded 12 percent growth in the second quarter.
Business
Siemens Energy posts Q3 loss
The group expects full-year net loss of around $4.94bn.
- The latest result was dragged lower by extra charges of 600 million euros in its offshore wind business.
- Siemens Energy said it was "additionally burdened" by a 700-million-euro write-down of deferred tax assets during the quarter.