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TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

Infracorp logs $29.8m profit

The company specializes in social infrastructure.
  • Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
  • The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas

ADX lists FAB Green Sakuk

FAB is the United Arab Emirates’ largest bank.
  • FAB is the UAEs’ largest bank and one of the world’s largest banking groups, with total assets of $326.7 billion
  • The $354 million sakuk, is the first ever green issuance in dirham and the largest ever dirham sukuk

Naufar partners with MEEZA 

MEEZA is a Managed IT Service and Solutions provider in Qatar.
  • Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
  • The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities

EDGE signs MoU with MBRSC

The pact sets up a framework for knowledge, data sharing
  • The agreement exemplifies the strength of local partnerships in the UAE.
  • It underlines EDGE's commitment to expand its expertise into the space sector.

Solutions+, EIH sign MoU

The pact will help in creating job opportunities in the UAE.
  • The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
  • The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.

MBC Group IPO plea okayed

The conglomerate intends to sell 33.25 million shares.
  • The number of shares represent 10 percent of the capital of the Saudi media conglomerate.
  • The company's prospectus will be published ahead of the planned share sale, the market regulator said in a statement.

Yalla 9M revenue at $237.9m

The results underscore the firm’s robust financial performance.
  • The company's net margin remained exceptionally high at 41.4 percent, highlighting its strong monetization capabilities.
  • Yalla's average monthly active users experienced significant growth, surging by 13.6 percent to 35.1 million in Q3 2023.

DTC sets IPO offer price range

Final offer price will be fixed through a book-building process
  • The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
  • This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).

PureHealth to list on ADX

The company is expected to start trading on ADX in December 2023.
  • Subject to obtaining regulatory approvals and other relevant considerations the company is expected that trading on ADX will commence in December 2023
  • In May 2023, PureHealth completed its acquisition of Ardent Health Services, which is USA’s fourth largest private healthcare group

Saudi EXIM Bank, Obeikan AGC ink pact

Obeikan AGC Glass will have an export credit insurance policy.
  • This partnership will enable Obeikan AGC Glass to secure their international sales against non-payment risks posed by global buyers.
  • This agreement significantly amplifies the prospects for growth and penetration into new regional and international markets.

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

Latest News

e& 2023 net profit is US$2.8bn

e& said the net profit is a growth of 3 percent year-over-year.

Walmart to buy TV maker Vizio

The acquisition of the TV maker is worth $2.3 billion.

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.

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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

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.

QEWC 2023 net profit US$426m

QEWC market share in supply of electricity was 61 percent.
  • The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
  • QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.