Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
Air Arabia 2023 net profit $408m
Business
Bezos sells $2bn Amazon shares
Business
Aldar net profit $1.19bn
Business
Etihad Atheeb 9M profit $47m
Business
Aramex Q4 net profit doubles
Business
Hermes profit soars 28 percent
Business
Business
Zain KSA expands 5G network
The company launched the first zero-emission 5G network.
- The network expansion supports Zain KSA’s strategic goal of accelerating the nationwide digital transformation by providing high-speed digital services
- The 5G network expansion complements Zain KSA's growing portfolio of bespoke 5G applications and pioneering solutions in artificial intelligence (AI)
Business
Pure Health announces IPO
The company will offer 1.11bn shares at AED3.26 per share.
- The subscription period will open on 6th December 2023 and will close on 11th December 2023 for both the Tranches.
- The company intends to list its shares on ADX on 20th December 2023.
Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
- The platform will make investments in businesses where they have matured past many of the risks that face earlier stage ventures.
- They must manage and minimize the execution risks associated with expansion in middle-market investments.
Business
Eve Air Mobility, flynas ink MoU
The firms will explore starting eVTOL services in Saudi Arabia.
- The agreement will contribute to Saudi Arabia’s aviation industry by building the ecosystem for electric flights.
- flynas operates over 1,500 weekly flights to over 70 domestic and international destinations.
Amazon releases AI chatbot
"Q" will be available only to the company's AWS cloud.
- "Q" will be available only to Amazon's AWS cloud computing customers and will be in direct competition with ChatGPT as well as Google's Bard and Microsoft's copilots
- Costing $20 monthly per user, Amazon Q will perform a variety of tasks including summarizing uploaded documents and answering questions about specific data
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
- Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
- The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness
Business
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.
- The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
- Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.
EasyJet rebounds into annual profit
Profit after tax stood at £324 million.
- Profit after tax stood at $409 million in the 12 months to the end of September on higher demand and increased fares, EasyJet said
- "We see a positive outlook for this year with airline and holidays bookings both ahead year on year," EasyJet chief executive said in the statement.
Fashion giant Shein to go public
Shein was valued at $66 billion earlier this year.
- The company was valued at $66 billion earlier this year, and a public presence by the company in the United States could make huge waves on Wall Street
- Shein recorded $23 billion in revenue and $800 million in net profit in 2022, Journal said reporting that firm has told investors it has posted new records in 2023
Business
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.
- Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
- The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
Company News
Air Arabia 2023 net profit $408m
Business
Bezos sells $2bn Amazon shares
Business
Latest News
ESG 2023 net profit at US$187m
Business
Aldar net profit $1.19bn
Business
Etihad Atheeb 9M profit $47m
Business
Aramex Q4 net profit doubles
Business
Most Read
Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.
- Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
- This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
Business
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.
- The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
- This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.
US downs three Houthi drones, strikes anti-ship missiles
Yemen's Iran-backed Houthis have been targeting shipping for months and their attacks have persisted despite repeated American and British strikes...
- CENTCOM said US forces destroyed "seven Iranian-backed Houthi mobile anti-ship cruise missiles that were prepared to launch towards the Red Sea."
- US Central Command said those strikes , carried out between 12:30 p.m. and 7:15 p.m. Sanaa time, were made in self-defense