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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.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

Business

The $10 mn bag: Original Birkin smashes records at Paris auction

Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...

Arts & Culture
Business

Renault shares fall as sales disappoint

The company's strategy is to sell fewer cars but at higher prices.
  • Sales grew 7.6 percent to 10.5 billion euros ($11 billion) as a drop in volume was offset by price increases for its vehicle lineup
  • But investors were not impressed as company shares fell more than seven percent in morning trading in the Paris stock exchange
Business

Kadi Pay okayed for BNPL solutions

The company was approved by the Saudi Central Bank.
  • With Kadi Pay, six authorized companies are now offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies to 56.
  • The BNPL solutions provide finance to customers wishing to buy products and services without incurring financing costs.
Business

Turkey’s Atis Yapi opens Dubai office

This is the real estate giant's first office in the UAE.
  • This follows signing of agreements and MoUs worth $50.7 billion between UAE President Sheikh Mohammed bin Zayed Al Nahyan and his Turkish counterpart Recep Tayyip Erdoğan in July.
  • Atış Yapı said it is set to develop a modern and competitive portfolio of residential and commercial projects in the UAE.
Business

FAB net profit up $3.4bn in 9M 2023

The bank reported total revenue of $5.6 billion.
  • The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
  • The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Business

Presight AI, TOTM form joint venture

The JV will develop and deploy their combined proprietary technologies.
  • The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities.
  • This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven.
Business

Sipchem 9M net profit down 67%

There was a 70% QoQ drop in net profit for the third quarter of 2023.
  • The lower profit was due to a decline in revenues on lower product prices, as well as a fall in sales.
  • In addition, the company's share of profits from investments in a joint venture and associates decreased, Argaam said.
Business

Merger of Saudi Enaya and UCA okayed

The merger remains subject to regulatory approvals.
  • The two companies had signed a binding merger agreement through a share swap deal, under which UCA will issue a 0.837 common share for each issued share in Saudi Enaya.
  • On 29 April 2021, Saudi Enaya Cooperative and Amana Cooperative Insurance signed a merger agreement.
Business

JPMorgan Q3 profit at $13.2bn

The bank’s revenues rose 22 percent to US$39.9 billion.
  • One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
  • NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers
Business

Presight, Samruk-Kazyna to form JV

Samruk-Kazyna is Kazakhstan's $70bn asset sovereign wealth fund.
  • The joint venture aims to accelerate digital transformation in Kazakhstan.
  • Presight will deploy its AI and big data analytics solutions and technologies.
Business

Delta posts Q3 profits of $1.1b  

The company’s revenues rose 11 percent to $15.5 billion.
  • Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
  • The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.
Business

Company News

Zee’s shares fall after merger fails

Masdar, 3 firms sign agreement

Estithmar sets up issuance program

United forecasts first quarter loss

Macy’s rejects $5.8bn takeover deal

Latest News

Sovcomflot 2023 net profit $900m   

In 2023, the firm demonstrated strong financial results.
Business

Du, Samsung ink agreement

The two companies have signed a three-year partnership.
Business

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
Business
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INSEAD Day 4- 300x600

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Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.
  • The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
  • The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Business

Lego net profit falls

Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
  • The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
  • Sales made directly to consumers through Lego's physical and online stores rose by four percent.

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.