INSEAD Day 4 - 728x90

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.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

Business

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Business
Business

ADNIC reports $82m profit

This marks 16% increase compared to the same period last year.
  • The company's focus on market-leading underwriting and investment performance resulted in a net profit of AED 301.9 million
  • ADNIC's recently announced its intent to acquire a 51% stake in Allianz Saudi Fransi Cooperative Insurance Co
Business

Emirates, Safran sign pacts worth $1.2bn

Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.
  • The new seats will offer a host of enhancements that set a new standard for comfort, privacy and convenience.
  • Safran Landing Systems will be supplying high performance wheels and carbon brakes for the Emirates A350 fleet.
Business

ADNOC Gas net income $3.37bn

The company's third-quarter revenue grew by 8% to $5.80 billion.
  • Net income for the quarter increased by 13 percent quarter-on-quarter (Q-o-Q) to $1.116 billion.
  • ADNOC Gas expects to pay its inaugural interim cash dividend of $1.625 billion with payments commencing on 14 December 2023.
Business

ACWA Power, SEC sign PPAs

The agreements signed with SPPC are valued at $3.9 billion.
  • The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.
  • Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.
Business

Chemanol to buy stake in ACC

It will acquire 84 percent stake for US$12.3 million.
  • The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
  • Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Business

ADIB lists $500m green sukuk on LSE

The bank marked the issuance of its $500 million green sukuk.
  • London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
  • This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.
Business

Salik records $138m in Q3 revenue

This is the toll operator's highest Q3 revenue since 2007.
  • The 14.6 percent year-on-year revenue growth was supported by a strong growth in tourism and residency.
  • Salik reported a net profit of AED255 million during the third quarter of 2023, up 5.3 percent against the prior year.
Business

Al Ghurair to use Oracle solution

This will help HR teams improve business operations.
  • Through this strategic collaboration, Al Ghurair seeks to empower its employees through self-service capabilities.
  • Oracle Cloud HCM transforms the traditional functions of HR departments such as recruiting, training, payroll.
Business

GA-ASI partners with EDGE

The pact is aimed at integrating smart weapons into MQ-9B.
  • The partnership marks the first time that UAE-made smart weapons will be integrated into a US unmanned platform.
  • The EDGE smart weapons designated for integration include the DESERT STING family of GGWs and THUNDER family of cost-effective PGMs from HALCON.
Business

ADNOC L&S reports 162% rise in profit

The company also reported an EBITDA of $635 million.
  • The company also reported an EBITDA of $635 million (AED2,332 million), marking a substantial 124% year-on-year increase
  • The third quarter of 2023 specifically contributed to the positive financial performance, with a 30% year-on-year increase in revenue

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.
Business

Company News

QatarEnergy signs LNG deal with Petronet

Maqta acquires stake in Dubai Technologies

McDonald Q4 profit up

Vodafone Q3 revenue dips

QatarEnergy, Mitsui ink pact

Latest News

RAKBANK, DP World sign pact

The aim is to offer trade finance solutions to businesses in UAE.
Business

EasyLease buys stake in United Trans

This helps EasyLease expand its presence in mobility sector.
Business

Liberty Media buy MotoGP

Formula One owners paid US$4.5 billion for the deal.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Huawei profit tops $12bn

The profits more than doubled compared to 2022.
  • Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
  • Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
Business

Amanat FY 2023 revenue $195m

The company's revenue grew by 40 percent year-on-year.
  • Amanat announced a proposed dividend of US$13 million for FY 2023, with additional interim dividends planned for 2024.
  • The balance sheet reached US$158 million in cash at year-end, and low leverage provided significant capital for deployment.
Business

Embracer sells Borderlands

The sale is expected to be completed by June-end .
  • The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
  • Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K