ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
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American Q1 profit at $10m
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FAB posts Q1 net profit of $1bn
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TotalEnergies Q1 profit up 12%
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Barclays Q1 net profit at $2.2bn
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Turkish Airlines increases daily flights from Dubai
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Madayn announces new incentives to boost investment in Sur Industrial City
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Saudi Aramco tops Forbes Middle East’s list of top 100 firms
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Fakhri Hindiyeh is GM Grand Swiss-Belhotel in Bahrain
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Berain Water of Saudi Arabia ropes in Samba for IPO
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ADX lists US$1 billion bonds issued by Abu Dhabi Ports
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Dubai gets ‘TIRS’ cybersecurity platform
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ESG 2023 net profit at US$187m
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Alibaba quarterly revenue up 14 percent
Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).
- Alibaba's net profit was up 51 percent on-year, reaching 34.3 billion yuan ($4.76bn) during the April-June period
- Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform
Business
SoftBank Group Q1 loss $3bn
The investment giant was hit by a drop in the share prices of major holdings.
- The firm has made huge bets to find and grow hot new tech ventures around the world, but that has left its earnings vulnerable to market forces.
- The company suffered investment losses "due to declines in the share prices of Alibaba, Deutsche Telekom, and T-Mobile US.
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.