Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business
Advanced secures $586m loan
Business
East Pipes net profit $26.63m
Business
Business
EGA refinances corporate facility
Emirates Global Aluminium has successfully refinanced US$5.5 billion of corporate debt.
- The move will deleverage and improve repayment terms to reduce costs and enable an optimal dividend policy in future years for shareholders.
- The term loan facility reduces by US$1 billion the size of EGA’s existing seven-year US$6.5 billion loan facility signed in 2019
Business
Shaker H1 net profit SAR 15.3m
The company attributes growth to robust sales in four quarters.
- H1 earnings per share improved to SAR 0.24.
- The revenue grew by 18.2 percent compared to H1 2020.
Science
Next Apple Watch could check for dehydration
With temperatures rising globally, this could be a useful feature for users of this Apple device.
- Apple has recently been granted a patent in this regard by the US Patent and Trademark Office
- The patent shows electrodes in the watch band, through which the electrical properties of sweat will be measured
Science
Elon Musk announces humanoid Tesla Bot
Musk said the robot would be five feet and eight inches tall, and that a prototype would be ready next...
- Musk compared the current fleet of Tesla cars to “semi-sentient” beings
- He then said whatever the vehicles are capable of could well be put into humanoid form
Office 365 prices to go up from 2022
The prices would apply globally with adjustments for certain regions.
- There are no changes to pricing for education and consumer products of Microsoft at this time
- Microsoft is also rolling out unlimited dial-in capabilities for Microsoft Teams meetings across all suites in the next few months
Business
Nokia launches 5G course
New course addresses the challenges faced by all industries, governments, and individuals in securing 5G systems
- The course is part of Nokia’s program to train and certify industry professionals on 5G technology
- New course addresses the challenges faced by all industries, governments, and individuals in securing 5G systems
Ofco expands fleet with 7 vessels
Ofco is the marine services arm of Abu Dhabi Ports.
- They include four Anchor Handling Tugs, a 65-meter landing craft, a supply ship, and a multipurpose safety standby vessel
- These will further extend the company’s capabilities in providing onshore and offshore integrated logistics solutions and subsea services
Business
Toyota to cut Sept production
The world's largest automaker had planned to build just under 900,000 vehicles next month
- The world's largest automaker had planned to build just under 900,000 vehicles next month
- The Japanese giant's rivals have also been forced to slash production targets
Saudi Ceramics plans $66m factory
The facility will have an annual capacity of 8.25 million sq m.
- The facility is expected to be financed through internal accruals and fresh borrowings
- The project will commence from the fourth quarter of 2021 and be completed by Q2 2023
FB to unveil digital wallet soon?
The Novi wallet has been under development for two years.
- Novi is an interoperable digital wallet for people to move money around domestically and internationally
- Facebook as secured licenses to launch Novi in almost all US states
Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business
Company News
Advanced secures $586m loan
Business
East Pipes net profit $26.63m
Business
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Gazprom 2022 profit at US$15bn
Business
$202m contract signed for Jeddah project
The contract involves MEP works for Al Muhammadiyah Hospital.
Business
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Business
Country Garden withholds repayment vote
The builder has accumulated debts of more than $150bn.
- The company has asked to extend payment on a 3.9 billion yuan ($535 million) note until 2026, originally setting an online vote among bondholders to end on Friday.
- Country Garden's cash flow problems have ignited fears that it could collapse and spread turbulence through China's economy and financial system.
Business
Saudi EXIM Bank, Evonik sign pact
The insurance policy will protect the risk of non-payment.
- The agreement was signed by the CEO of Saudi EXIM Bank, Saad Al-Khlab, and the General Manager of Evonik Industries, Abdulmohsen Al-Muhaidib.
- Al-Khlab said the collaboration is an extension of the bank's commitment to bolster the export endeavors of national institutions.
Business
Vietnam’s VNG files for US IPO
VNG operates music streaming, mobile payment and online games.
- Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
- VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.