Du, Samsung ink agreement
Business
DP World 2023 profit is $1.5bn
Business
Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.
Business
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
- It reported a decline in profit for the October-December quarter, and revised its revenue growth guidance to 1.5-2.0 percent in constant currency terms
- A big employer of India's engineering graduates, the company upset markets last quarter after it said it would halt campus hiring in an effort to cut costs
Business
OYO New Year Eve bookings up 64%
Oman emerges top performer in the GCC region.
- Saudi Arabia with 59 percent and United Arab Emirates with 31 percent growth were the other top performers.
- Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.
- The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma
- AIO-001 was exclusively licensed to Aiolos outside of China by Jiangsu Hengrui Pharmaceuticals, which initially developed the asthma treatment
Business
EVA Air orders 33 Airbus planes
The deal could be worth as much as $8.5 billion.
- The 33 planes ordered include 18 long-range A350-1000 planes and 15 single-aisle A321neo models
- The wide-bodied A350-1000 type can seat up to 410 passengers and travel up to 18,000 kilometers non-stop
Business
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
- The listings on ADX included Mubadala’s highly oversubscribed debut Green Bond and Mubadala’s inaugural dirham-denominated bond.
- The listing of Mubadala’s green bond marks the seventh listing of a green debt instrument on ADX.
Business
Nakilat expands its fleet
The Qatari firm placed orders for 6 carriers with HSHI.
- Upon delivery, Nakilat's LNG fleet will expand to 71 vessels, and the LPG fleet will grow to eight vessels with the addition of the four new vessels.
- The orders include two cutting-edge LNG carriers with a cargo capacity of 174,000 cum each and four modern Very Large LPG/ Ammonia Gas carriers.
Business
Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.
- The United States was the group's biggest market in 2023, followed by China.
- The emblematic British car brand became part of German auto giant BMW in 1998.
Business
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.
- Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
- Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.
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Sovcomflot 2023 net profit $900m
Business
Du, Samsung ink agreement
Business
DP World 2023 profit is $1.5bn
Business
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Lego net profit falls
Business
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Business
Nasdaq edges to record
The Dow Jones Industrial Average dropped 0.8 percent.
- All three indices finished at records the last two days, on the back of Wednesday's Federal Reserve meeting
- The Dow Jones Industrial Average dropped 0.8 percent to 39,475.90, retreating from a serious drive at the 40,000-point level
Business
Lamborghini sales up in 2023
The deliveries sped up 9.5 percent to 10,112 vehicles.
- 2023 was the best year ever recorded," the brand said in a press release, with sales up 12.1 percent to US$2.9 billion
- Operating profit reached $785 million, up 17.8 percent, with operating margins widening to 27.2 percent, said Lamborghini
Business
EGA to acquire Leichtmetall
EGA is to buy 100 percent of firm from Leichtmetall Holding.
- The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals.
- Leichtmetall’s production mainly consists of hard alloy billets up to 1,150 millimetres in diameter