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Company News

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

Business

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Business

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.
Business

JABEEN signs contracts with Retal, Abyatna

The firms will build primary and secondary infrastructure works.
  • Under the contract, a total of 897 residential units will be built in the Jubail industrial city.
  • The $319 million contract, which was awarded on Nov. 26, 2023, extends for 40 months, starting on the date of the land handover from JABEEN to Retal.
Business

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
Business

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
Business

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
Business

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.
Business

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.
Business

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.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.
Business

Company News

Emaar 2023 revenue at $7.3bn

Siemens posts increased Q1 profit

UAB net profit grows 65%

stc Group inks several pacts

Presight net profit $155m

Latest News

Apple holds talks with rival Meta

The company to integrate Meta's generative AI into its products.

Boeing to check undelivered 787s due to fastener issue

New York, United States - Boeing said Thursday it is examining fasteners on some undelivered 787 jets after discovering problems with...
Business

Microsoft unveils ‘AI-ready’ PCs

The company's pivot to AI has been celebrated by Wall Street.
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Fujifilm ups biotech plant investment

The cost of investment in North Carolina plant is $1.2 billion.
  • The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
  • The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said
Business

CBI, zypl.ai ink partnership

The pact aligns with CBI’s plan to support innovation in UAE.
  • CBI, zypl.ai partnership signifies a strategic entry into using AI implementation for advanced credit scoring.
  • CBI plans to further enhance operational efficiencies to ensure a swift and seamless lending experience.
Business

RAKBANK, DP World sign pact

The aim is to offer trade finance solutions to businesses in UAE.
  • This strategic partnership leverages DP World's extensive trade network and real-time data insights.
  • It empowers RAKBANK with enhanced risk assessment capabilities and streamlined access to financing.