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Company News

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Business

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Business
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.
Business

Boeing posts Q3 loss

The firm trims full-year forecast for deliveries of the 737.
  • The US aviation giant, which has struggled with manufacturing and quality control issues in recent years, reported a third-quarter loss of $1.6 billion
  • The latest issue with the 737 is the result of misshapen holes drilled in a part of the fuselage that helps maintain plane pressure.
Business

Thuraya, nybl sign MoU

They will deploy AI in Thuraya and Yahsat satellites
  • nybl provides various AI and ML sector-specific modules, including Oil and Gas, Security and Surveillance, with robust support for ESG.
  • Under the MoU, both parties will focus on testing, certifying, and enabling the nybl platform over Thuraya and Yahsat satellites.
Business

United Arab Bank’s net profit rises 76%

The total income for the period was approximately $47 million.
  • The performance can be attributed to the bank's improved operating performance, resulting in lower expected credit losses and a reduced cost of risk
  • The total income for the period was approximately AED174 million ($47 million), showing a remarkable 61% year-on-year increase and a 16% quarter-on-quarter increase

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.
Business

Company News

QatarEnergy, Excelerate sign agreement

SAIF Zone signs MoU with Tokai Optical

KACST, ACWA Power sign pact

Arab Bank Group net profit $829.6m

SIB, Noqodi sign agreement

Latest News

BYD posts record 2023 profit

The Shenzhen-based firm is now moving quickly overseas.
Business

RSG, Hyundai Motor ink pact

The two firms will explore opportunities in various areas.
Business

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Lamborghini sales up in 2023

The deliveries sped up 9.5 percent to 10,112 vehicles.
  • 2023 was the best year ever recorded," the brand said in a press release, with sales up 12.1 percent to US$2.9 billion
  • Operating profit reached $785 million, up 17.8 percent, with operating margins widening to 27.2 percent, said Lamborghini
Business

EGA to acquire Leichtmetall

EGA is to buy 100 percent of firm from Leichtmetall Holding.
  • The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals.
  • Leichtmetall’s production mainly consists of hard alloy billets up to 1,150 millimetres in diameter

Borse Dubai to sell Nasdaq shares

The sale is poised to generate $1.59 billion.
  • Borse Dubai is selling 27 million shares at $59 each in a secondary offering, a decision revealed in a stock exchange filing
  • The offering also grants underwriters a 30-day option to acquire up to four million additional shares of Nasdaq