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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Dar Alarkan 2024 profit up 32%

The company's net profit increased by 81.5 percent in Q4 2024.

MODON launches 10 projects

The projects in 6 industrial cities are valued at $143 million.
  • These projects, conducted in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content.
  • Among the agreements, MODON has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities.

Cerberus buys HSBC France retail

The takeover was finalized for an undisclosed amount.
  • The operation will see HSBC France's nearly 250 retail branches with their 800,000 clients and 3,500 staff become CCF
  • The move is part of London-headquarters HSBC's efforts to simplify and refocus operations on its major region of Asia

Albilad Capital to pay dividend 

The distribution ratio of the NAV stands at 0.10 percent.
  • Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.
  • The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance

Makeen, Rolls-Royce forge partnership

They will manufacture, test, sell and service mtu engines in Saudi.
  • The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
  • Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.

Bank takes over Amiantit subsidiary

The bank will absolve Amiantit of all its financial obligations.
  • The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
  • Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.

Huawei says expects higher revenue

The company is leading equipment manufacturer for 5G.
  • Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
  • In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year

Xiaomi launches first electric car

The car manufactured by Xiaomi likely to enter market by 2025.
  • Xiaomi boss Lei Jun took to the stage in Beijing Thursday to unveil the SU7, a sedan that is scheduled to enter the market in 2025
  • Xiaomi announced in 2021 to enter the highly competitive sector of electric vehicles manufacturing

QatarEnergy, Shell sign agreement

QatarEnergy will supply 18m barrels of crude oil per year to Shell.
  • QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
  • "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy

Apple to appeal US watch ban

The company contends that the ITC finding was in error.
  • The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online
  • The ban is the latest legal tussle involving big tech companies over valuable patents that has also seen Google battle in court against Sonos in a fight over speaker tech

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.

Latest News

EGA to acquire Leichtmetall

EGA is to buy 100 percent of firm from Leichtmetall Holding.

Borse Dubai to sell Nasdaq shares

The sale is poised to generate $1.59 billion.

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.

Most Read

Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.
  • The company's revenue increased by 22.6 percent in 2023
  • Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.

Du, Samsung ink agreement

The two companies have signed a three-year partnership.
  • This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
  • The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
  • The London-listed group added that the transaction would bolster its rare diseases division Alexion.
  • AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.