Tesla auto deliveries beat expectations
Electric carmaker Tesla saw its shares surge on Tuesday.
Business
Nasdaq edges to record
Business
Lamborghini sales up in 2023
Business
EGA to acquire Leichtmetall
Business
Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
Business
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
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,
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
- Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
- A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.
Business
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
- ESG’s total assets witnessed a massive rise, standing at US$833 million.
- This is a significant 168 percent growth compared to December 2022.
Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.
- Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
- Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
Business
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.
- Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
- On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
Business
Aramex Q4 net profit doubles
The firm reported a marginal YoY decline in Q4 revenue.
- Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
- The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.
Tesla auto deliveries beat expectations
Electric carmaker Tesla saw its shares surge on Tuesday.
Business
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ESA, SAP ink agreement
Business
Nasdaq edges to record
Business
Lamborghini sales up in 2023
Business
EGA to acquire Leichtmetall
Business
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Masdar to buy stake in Terra-Gen
Business
Sovcomflot 2023 net profit $900m  Â
Business
Borse Dubai to sell Nasdaq shares
The sale is poised to generate $1.59 billion.
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Sovcomflot 2023 net profit $900m  Â
In 2023, the firm demonstrated strong financial results.
- The company's revenue increased by 22.6 percent in 2023
- Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.
Business
Du, Samsung ink agreement
The two companies have signed a three-year partnership.
- This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
- The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Business
AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.
- The London-listed group added that the transaction would bolster its rare diseases division Alexion.
- AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.