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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.

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Business

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

Business
Business

Al Akaria signs $610m infra contracts

The Public Investment Fund is a related party to the contracts.
  • The contracts pertain to development of the main infrastructure networks and bridges for the Qiddiya project.
  • The contracts also include the design, construction, testing and commissioning of a sewage treatment plant.
Business

Investcorp portfolio firm listed

The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
  • This is Investcorp's first IPO on the Indonesian stock exchange and the 26th IPO in the Firm's 40-year history.
  • Investcorp currently has five offices spread across Asia with over US$1.2 billion invested in 40 portfolio companies.
Business

Alpha Dhabi acquires stake in Metito

With this deal, Alpha Dhabi marks entry into water and wastewater domain.
  • The acquisition sees Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.
  • The Ghandour family, Metito's founding shareholders, will retain their leadership roles.
Business

Amazon to pour US$4bn into Anthropic

Its investment will heat up the race for dominance in AI.
  • As part of the deal, Anthropic will use Amazon's chips and its cloud services -- the data cen that store and process data on a vast scale -- for "mission critical workloads"
  • The deal intensifies competition between Amazon and Google, which had earlier opened its cloud services to Anthropic and invested $300 million to acquire 10 percent of the company
Business

Microsoft to acquire Activision Blizzard

Activision Blizzard makes popular games like "Call of Duty".
  • The transaction faced scrutiny from regulators in the United States as well as Britain, where the CMA blocked a similar deal in April.
  • Activision Blizzard CEO Bobby Kotick said the UK regulator's announcement was "a significant milestone for the merger".
Business

ADIB completes $750m sukuk redemption

The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.
  • ADIB redeemed them at the trustee call amount, equivalent to the prevailing face value of the certificates along with any outstanding payments as of September 20, 2023.
  • Earlier in July 2023, ADIB had successfully raised an additional $750 million through the issuance of new additional tier-one (AT1) perpetual sukuk.
Business

Cisco buys Splunk for US$28bn

Splunk is a software platform that uses AI to identify malware.
  • Cisco will pay a premium of $157 per share, up from the $120 Splunk traded at before the announcement.
  • According to the company's website, Splunk was founded in 2003 and holds over 1,100 patents.
Business

Securiguard Middle East renews contract

Firm won $109 million contract extending over four years.
  • The contract can be extended for an additional two years in the event of satisfactory service.
  • The firm will deploy a team of over 2,000 experienced and qualified guards across Abu Dhabi.
Business

MODON inks $133 m pact

The pact will help manufacture vaccines in Saudi Arabia.
  • MODON and Vaccine Industrial Company will set up a joint venture factory in Sadeer City to strengthen the pharmaceutical security system.
  • It is in line with MODON's strategy to create an integrated industrial and investment community to attract national and foreign investor partners.
Business

Aramco, Cenomi see 4 negotiated deals

The $32.81 million deals were registered by Tadawul.
  • A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price.
  • The negotiated deal does not directly impact the last deal price, highest/lowest stock price and opening/closing price.

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.
Business

Company News

Baims acquires Orcas Edtech

Bahrain Steel raises $450m SLL

ADQ appoints new ADX chairman

Avalon sets sights on Tadawul listing

Dragon Oil, Turkmennebit ink MoU

Latest News

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.
Business

HMG 2023 net profit $544m

The rise was due to the hospitals and pharmacy segments.
Business

EDF’s net profit is $10.8bn

EDF cut its large debt by increasing nuclear production.
Business
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Business

QEWC 2023 net profit US$426m

QEWC market share in supply of electricity was 61 percent.
  • The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
  • QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Business

Google AI research hub in Paris to host 300 experts

The new hub part of a trend for big tech firms to base teams in European centers.
  • In recent years, Google has poured investment into its engineering facility in Zurich, which also houses AI-focused teams from Meta, Apple and Microsoft.
  • The French capital has long pushed to be regarded as a cutting-edge hub for tech firms, and Meta established an AI research team there in 2015
Business

Air Arabia 2023 net profit $408m

The firm recorded a 27 percent rise in profit compared to 2022.
  • The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
  • Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,