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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.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Business

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Business
Business

Sulaiman Al Habib 9M profit $405m

The Group reported a nearly 16% year-on-year rise in revenues.
  • The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy.
  • In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
Business

Eni Q3 profit drops

This drop is smaller than the 31 percent fall in Q2.
  • Adjusted net profit -- a figure closely watched by the markets because it excludes exceptional items -- also fell, by 51 percent to US$1.9 billion (1.81 billion euros).
  • The group's turnover fell 40 percent in the three months to US$23.5 billion (22.31 billion euros), well below analysts' expectations of US$34.4 billion (32.58 billion euros).
Business

Equinor profits tumble

The drop was due to sharply lower gas prices and offshore wind problems.
  • Adjusted earnings, which excludes certain exceptional elements, fell by 67 percent from the same period last year to $8.0 billion.
  • Revenue came in at $26 billion, a drop of nearly $18 billion from last year. Net profit plunged 73 percent to $2.5 billion.
Business

UDC posts net profit of US$63m

The net profit has been reported for the first nine months of 2023.
  • The company said that the Earnings per Share (EPS) amounted to US$0.01 (QR 0.065) as of September 30, 2023.
  • UDC is a Qatari public shareholding company and the master developer of The Pearl and Gewan Islands.
Business

QFZ, Samsung C&T ink MoU

The two will collaborate in green, sustainable technologies.
  • Both the parties will work together to achieve sustainability objectives within the free zones in Qatar through energy transition.
  • QFZ, Samsung C&T will also explore co-investment opportunities in green infrastructure within the free zones.
Business

Mashreq’s net profit surges 122% 

The Return on Equity also achieved a record high, reaching 32.1%.
  • The ROE also achieved a record high, reaching 32.1% during the same period, doubling compared to the performance in the first nine months of 2022
  • The bank's non-interest income reached $626 million, marking an 8.1% year-on-year growth in the first three quarters of 2023
Business

TotalEnergies Q3 profit up 1.5%

The French energy firm earned a net profit of $6.7 billion.
  • Oil and gas prices surged last year following Russia's invasion of Ukraine, leading to windfall profits at energy firms.
  • While oil prices are still high in historical terms, the main crude oil contract was down 14 percent last quarter compared to the same period last year.
Business

PIF, Pirelli establish a JV  

The JV will set up a facility to make tires in Saudi Arabia.
  • PIF will hold a 75 percent stake in the new JV with Pirelli holding the remaining 25 percent.
  • The JV will manufacture high-quality tires for passenger vehicles, under the Pirelli brand, in the Kingdom.
Business

Ghitha Holding Q3 profit of $33m

The company gained from regional food processing.
  • Driven by strong results and business momentum, Ghitha reported revenue of US$898 million in the third quarter.
  • Revenues grew 120 percent year-over-year, driven by broad-based growth across categories and geographies.
Business

Bank Albilad posts net profit

The bank’s January-September 2023 profit was $469 million.
  • The bank reported a 3 percent year-on-year increase in gross operating income during January-September 2023 period.
  • The rise in gross operating income was mainly due to higher net income from investing and financing assets.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.
Business

Company News

Vodafone Qatar 2023 profit up

Microsoft lays off 1,900 staff

EDGE bags another big order

Jabal Omar secures $509m Murabaha

Nokia sees ‘challenging’ 2024

Latest News

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
Business

DP World 2023 profit is $1.5bn

The company's revenue grew 6.6 percent to $18.25 billion.
Business

Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.
  • The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
  • Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.
Business

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
  • The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
  • It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.
Business

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
  • Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
  • The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.