TSMC’s H1 revenue up 40 percent
Business
‘Wadeem’ sold out for $1.49bn
Business
Tesla Q2 sales down 13.5%
Business
Aldar nets $953m in sales at Fahid
Geostrategy
Equinor signs $27 bn gas deal
Business
Business
Lloyds Group profit is $6.2bn
High interest rates benefitted the British lender and banking sector as a whole.
- "The group delivered a robust financial performance in 2023, meeting our guidance," said chief executive Charlie Nunn
- Banks in the UK and elsewhere are gaining from higher interest rates as central banks, including the Bank of England
Business
Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
- Shares in Rolls soared almost ten percent in afternoon trading, topping London's benchmark FTSE 100 index
- Its share price more than trebled last year but at the end of 2023 it was still only up 6.5 percent over the previous five years.
Business
Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.
- Total operating revenues of US$99 million were recorded for 2023.
- Consolidated assets came in at approximately US$386 million in 2023.
Business
Glencore 2023 profit down 75%
The company said lower energy prices cut into its profits.
- Gross operating profit fell 50 percent to $17.l billion, "primarily reflecting the rebalancing and normalization of international energy trade flows," it said
- The commodities trading unit saw operating profit fall 46% to $3.5 billion, "with coal and LNG (liquefied natural gas), and to a lesser extent, oil prices materially declining"
Business
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
- Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.
- Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.
Business
Walmart to buy TV maker Vizio
The acquisition of the TV maker is worth $2.3 billion.
- With the all-cash purchase, the US shopping behemoth gains access to Vizio's more than 18 million accounts.
- Vizio is known for what Walmart called "immersive entertainment" through a "customer-centric platform".
Business
stc 2023 revenues is $19.28bn
Gross profit for 2023 rose 1.1 percent compared to 2022.
- The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent
- It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.
Business
HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.
- The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
- Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).
Business
EDF’s net profit is $10.8bn
EDF cut its large debt by increasing nuclear production.
- Sales slipped 2.6 percent to 139.7 billion euros, but the group managed to slice debt by 10 billion euros to 54.4 billion
- EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
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Company News
TSMC’s H1 revenue up 40 percent
Business
‘Wadeem’ sold out for $1.49bn
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Tesla Q2 sales down 13.5%
Business
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TomTom cuts 300 jobs
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Aldar nets $953m in sales at Fahid
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Emirates NBD H1 profit $3.40bn
Total income rose by 12 percent in the same period.
- Lending increased by AED41 billion, or 8 percent, during the first half of 2025, fueled by very strong demand both in the UAE and across its growing international network.
- Operating profit grew 9 percent as the strong loan and deposit growth momentum easily absorbed earlier interest rate cuts.
Business
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
- Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024.
- Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period.
Business
AstraZeneca to invest $50bn in US
Bulk of funds to go into a Virginia manufacturing center.
- "Today’s announcement underpins our belief in America’s innovation in biopharmaceuticals," the statement quoted CEO Pascal Soriot as saying.
- The company said it expects 50 percent of its revenue to come from the United States by 2030.