Al Rajhi profit up 26%
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Emirates NBD 2025 profit $8.5bn
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BYD Q3 profit down 33%
Business
Business
DEWA profit after tax $789m
It will pay $843m in H1 dividend.
- The first-half revenue of AED 14.6 billion ($3.97 bn), EBITDA of AED 7 billion, operating profit of AED 3.7 billion.
- DEWA’s total energy generation Including Energy import from IPPs soared to a high of 16.9 TWh.
Business
IHC H1 net profit $2.94 billion
The company posted 31% increase in revenue.
- The second quarter of 2025 delivered one of the Group’s strongest quarterly performances, with revenue rising 22.5 percent year-on-year to AED27.5 billion.
- Revenue growth was supported by solid contributions from core operating segments, it said.
Economy
Alpha Dhabi H1 profit $1.79bn
Adjusted EBITDA rises to $2.36bn.
- The group’s financial position remains robust, with total assets of AED198.4 billion and equity of AED98.1 billion.
- This quarter, Alpha Dhabi Holding and four of its portfolio companies featured in the Forbes Top 100 Listed Companies in the Middle East 2025.
Business
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
- Adjusted EBITDA for the second quarter was $440 million.
- The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Arts & Culture
Thousands of carpets sunbathe at Turkish resort
From June-Sept, in harvested fields cleared of stubble, merchants bring their cargo to age in the sun, tempering the bright...
- In the past, up to 60,000 carpets were processed in each three month drying season in the Dosemealti district.
- But today he is one of the last ones to do so, with around 15,000 carpets stored side by side on a 40-hectare (100 acre) area.
Business
ADNOC Drilling H1 revenue $2.37bn
The company posted a net profit of $692m.
- The company's Board of Directors approved the $217 million (approx. 5 fils per share) second quarterly dividend for 2025.
- The dividends are expected to be paid in the second half of August 2025 to all shareholders of record as of 8th August 2025.
Business
Eni profit falls due to dip in oil prices
Q2 net profit fell by 18% to $637 million.
- Revenues also declined in the second quarter by 14 percent year-on-year to 18.8 billion euros, the company said in a statement.
- The oil giant also confirmed its production target of 1.7 million barrels of oil a day for the current year, despite a three percent decline in the second quarter.
Business
Emirates NBD H1 profit $3.40bn
Total income rose by 12 percent in the same period.
- Lending increased by AED41 billion, or 8 percent, during the first half of 2025, fueled by very strong demand both in the UAE and across its growing international network.
- Operating profit grew 9 percent as the strong loan and deposit growth momentum easily absorbed earlier interest rate cuts.
Business
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
- Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024.
- Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period.
Business
AstraZeneca to invest $50bn in US
Bulk of funds to go into a Virginia manufacturing center.
- "Today’s announcement underpins our belief in America’s innovation in biopharmaceuticals," the statement quoted CEO Pascal Soriot as saying.
- The company said it expects 50 percent of its revenue to come from the United States by 2030.
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Business
Alphabet posts first $100 bn quarter
The growth was powered by cloud division buoyed by AI
- The tech giant's revenues jumped 16 percent year-on-year to $102.3 billion in the third quarter, beating analyst expectations
- "Alphabet had a terrific quarter, with double-digit growth across every major part of our business," CEO Sundar Pichai said
Business
Nvidia to take stake in Nokia
Nvidia share price soars 20%.
- It said it would issue more than 166 million new shares, for which Nvidia would pay $6.01 per share.
- Under the partnership, Nokia "intends to increase its presence in the AI and cloud market with data center aligned networking solutions."
Business
Nestle to cut 16,000 jobs
The company's shares shoot up 8%.
- "The world is changing, and Nestle needs to change faster," chief executive Philipp Navratil, who took the reins of the multinational in early September, said in a statement.
- The company published nine-month figures showing sales down by 1.9 percent to 65.9 billion Swiss francs ($83 billion).