INSEAD Day 4 - 728x90

Company News

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

BYD Q3 profit down 33%

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

Business

Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.

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.

BYD Q3 profit down 33%

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

Company News

TECOM Group net profit up 49%

UPS says will cut 12,000 jobs

Pfizer reports loss in Q4

Schneider Electric, Charge&Go ink pact

Toyota sells record number of vehicles in 2023

Latest News

Xiaomi posts solid quarterly sales growth

The company is Chinese smartphone and household tech giant.

Intel to slash workforce

The company to cut approximately $20 billion in expenses this year.
Business

Boeing guilty plea deal filed

The plea deal must be approved by a federal court judge.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Apple holds talks with rival Meta

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

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...
  • The aviation giant, which faces intensified scrutiny from regulators following recent incidents said planes already in service can continue to be flown safely
  • "Our 787 team is checking fasteners in the side-of-body area of some undelivered 787 Dreamliner airplanes to ensure they meet our engineering specifications," the company said

Microsoft unveils ‘AI-ready’ PCs

The company's pivot to AI has been celebrated by Wall Street.
  • The tech giant estimates that more than 50 million "AI PCs" will be sold over the next 12 months, given the appetite for devices powered by ChatGPT-style technology
  • Of all the tech giants, Microsoft has pushed the most aggressively to infuse the powers of generative AI into its products, often leaving rival Google to play catch-up