INSEAD Day 4 - 728x90

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.

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Business

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Business
Business

Huawei H1 revenue at US$43.3bn

The firm works to diversify its business operations.
  • The Shenzhen-based company has for several years been at the center of an intense tech standoff between China and the US.
  • Since 2019, sanctions have cut the company off from global supply chains that gave it access to US-made components and technologies.
Business

ADNIC net profit $55.64m

The company's insurance revenue reached $582 million.
  • Its underwriting profitability was robust with a combined ratio of 87.60% and a net insurance service profit of AED178.1 million.
  • Charalampos Mylonas, CEO of ADNIC, said the company was the first amongst our peers to implement IFRS 17 Insurance Contracts (IFRS 17) as of 1 Jan, 2023.
Business

EIH gives $27.2m dividend

The company's net profit for H1 2023 stands at US$121.221 million.
  • The company's net profit for H1 2023 stands at US$121.221 million, up from US$6.535 million in 2022
  • EIH's assets grow from US$21.171 million in H1 2022 to US$607.19 million in the first half of 2023
Business

QAMCO’s H1 net declines 60.7%

Average selling prices stood at US$2,743 per metric ton.
  • Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
  • Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
Business

Alibaba quarterly revenue up 14 percent

Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).
  • Alibaba's net profit was up 51 percent on-year, reaching 34.3 billion yuan ($4.76bn) during the April-June period
  • Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform
Business

SoftBank Group Q1 loss $3bn

The investment giant was hit by a drop in the share prices of major holdings.
  • The firm has made huge bets to find and grow hot new tech ventures around the world, but that has left its earnings vulnerable to market forces.
  • The company suffered investment losses "due to declines in the share prices of Alibaba, Deutsche Telekom, and T-Mobile US.
Business

Eshraq Q2 profit $9.79m

The company had posted a loss of AED7 million in Q2 2022.
  • The total operating income surged by 2,446.7 percent to AED44.31 million from a loss of AED1.89 million in Q2 2022.
  • To date, Eshraq has sold seven land plots, representing total 27 percent of its existing land bank by book value for a total sale consideration of AED208 million.
Business

Yahsat H1 net income up 5%

The company reported a revenue of $205m in H1 2023.
  • Yahsat said it delivered revenue growth in infrastructure, the Group’s largest segment providing communications capacity to the UAE government.
  • Mobility Solutions, the Thuraya business providing mobile satellite services using L-band spectrum, recorded 12 percent growth in the second quarter.
Business

Siemens Energy posts Q3 loss

The group expects full-year net loss of around $4.94bn.
  • The latest result was dragged lower by extra charges of 600 million euros in its offshore wind business.
  • Siemens Energy said it was "additionally burdened" by a 700-million-euro write-down of deferred tax assets during the quarter.
Business

Toshiba readies deal to go private

The 14bn deal comes after years of turmoil for the company.
  • The Japan Industrial Partners-led consortium taking control in the nearly two trillion yen deal includes 17 Japanese firms and six Japanese banks.
  • In March, Toshiba said the tender offer will be called off if the consortium fails to buy at least 66.7 percent of the outstanding shares.

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.
Business

Company News

MBC IPO retail subscription begins

Andalusia Labs secures $48m funding

Pfizer set to acquire Seagen

Aramco to acquire 40% stake in GO

UAE, Korean firms ink pact

Latest News

McDonald Q4 profit up

McDonald's cited war in the Middle East as a drag.
Business

Vodafone Q3 revenue dips

Poor display across Italy, Spain is said to be the reason for loss.
Business

QatarEnergy, Mitsui ink pact

The agreement provide for a rise in condensate volumes.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Solutions-Devoteam deal completed

Devoteam Middle East is a subsidiary of Devoteam Group.
  • The total value of Devoteam Middle East is approximately SAR741.7 million.
  • Solutions by stc had signed a binding offer and first unveiled details of the transaction in June 2023.
Business

SAIB profit jumps 17% in 2023

The net profit for the fourth quarter increased by 28 percent.
  • Total operating income grew by 21 percent year-on-year (YoY) as net special commission income rose due to an increase in net financing and investment commission.
  • Shareholders’ equity, no minority interest and after excluding sukuk, increased to SAR 14.52 billion as of Dec. 31, 2023.
Business

AD Ports Group, KPT ink pact

The pact deals with bulk and general cargo terminal.
  • A JV between AD Ports Group and Kaheel Terminals will develop, operate and manage bulk and general cargo terminal berths 11-17 at Karachi Port.
  • General cargo operations will primarily handle steel, paper and clinker, while the clean bulk terminal will focus on grains and fertilizers.