e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
BT to axe 55,000 employees
Business
easyJet H1 loss $382m
Business
DP World to help SMEs with trade finance
This is part of its strategy to become a global trade enabler.
- DP World will connect companies needing trade finance solutions with financial institutions on its Cargoes Finance platform
- The platform will disseminate trade data to financial institutions, so they can assess credit and compliance risks
Science
Facebook removes accounts linked to smear campaign against Pfizer, AstraZeneca
The Fazze network offered to pay the influencers for reposting misleading content
- A network consisting of 65 Facebook and 243 Instagram accounts have been traced back to Fazze, an advertising agency working in Russia for an unknown client
- The Fazze network offered to pay the influencers for reposting misleading content
Science
China approves first mixed-vaccine trial as Delta spread
The trial will test the efficacy of combining an "inactivated" vaccine made by China's Sinovac with a DNA-based one developed...
- The trial will test the efficacy of combining an "inactivated" vaccine made by China's Sinovac with a DNA-based one developed by US pharmaceutical company Inovio
- Preclinical work has found that "two different vaccine applications... produce an even stronger and more balanced immune response"
Emirates ‘stewardess’ on top of Burj Khalifa
The new advertisement has gone viral on social media.
- The 33-second ad shows what appears to be an Emirates stewardess atop the Burj Khalifa, the tallest building in the world
- The woman is seen thanking the United Kingdom for removing the UAE red list and onto the amber one
Business
Nissan unveils new safety tech in Middle East
The suite is called Nissan Intelligent Mobility or NIM, and is aimed at preventing automotive fatalities.
- The newest addition to the NIM suite, the ProPILOT, was premiered in the region on the 2021 Nissan Altima
- ProPILOT can automatically increase or decrease the vehicle’s speed to maintain a set distance from other vehicles
Abu Dhabi Ports plans uninterrupted gas supply for customers
The system modernization will take place over the next several months as part of a continuous comprehensive zone development plan.
MG Cars unveils first ever all-electric SUV in Qatar
The electric car is capable of travelling for 335km NEDC on a single battery charge
- Stylish, compact SUV is first pure electric model from MG in the Middle East
- The electric car is capable of travelling for 335km NEDC on a single battery charge
Dubai Investments profits surge 47%
The Dubai-based firm's net profits rose to AED302 million in the first half of this year.
- Growth attributed to enhanced performance of the manufacturing. contracting and investment segments
- The group's total income in H1 increases by 51 percent to AED1.72 billion as it ramped up property sales
Bahrain Telecom announces 5% hike of H1 net profit to $99.5m
Batelco said the steady rise in revenues in H1 2021 led to the increase in net profit.
HSBC MENA’s pre-tax profit at $700m in H1
Economic recovery in the region helps the bank post $386 million profit in the June quarter.
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
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BT to axe 55,000 employees
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easyJet H1 loss $382m
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BAE to acquire Ball Aerospace
The value of the acquisition was reported to be $5.55bn.
- The British firm BAE said it hoped to complete the acquisition of the aerospace firm in the first half of 2024.
- The proposed deal will be funded by a combination of new external debt and existing cash resources, it added.
Business
DP World H1 EBITDA $2.6bn
The company's revenue grew 13.9 percent to $9.03 billion.
- CEO Sultan Ahmed bin Sulayem said the company's balance sheet remains robust, and it continues to generate high levels of cash flow.
- DP World's focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
Business
Tencent Q2 net income $3.6 bn
Tencent last year posted its first decline in quarterly sales since its listing.
- Tencent also announced an 11 percent increase in revenue during the second quarter, reaching 149.21 billion yuan ($20.46 billion).
- The Shenzhen-based firm is the world's largest video game company in terms of revenue, dominating the Asian market in particular.