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.

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Business

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

Business
Business

Aldar Properties Q2 net profit $353m

Aldar recorded AED 2.1 billion in net profits for the first half of 2023.
  • It also achieved revenues of AED 6.3 billion dirhams, an increase of about 18 percent.
  • Aldar reported a record development sale of AED 11.6 billion with 10 new project launches year-to-date.
Business

Aldar expands into Dubai, Bahrain

The company announces $95 million investment for expansion.
  • This investment adds to the initial commitment of AED 1 billion announced last year, Aldar said in a statement.
  • The acquisition of Kent College Dubai and Virginia International Private School will expand Aldar Education’s presence in the UAE, the company said.
Business

National Leasing’s profits hit $2.37m

A jump of 28 percent in net profit vis-a- -vis H1 2022.
  • National Leasing Holding was established in 2003
  • It was listed on QSE in 2003 with a capital of $135.9 million.
Business

QGIRC net profit down

The first half 2023 profit of $9.64m was 25% less than that of H1 2022.
  • Earnings per share (EPS) amounted to QR 0.040 as of 30th June 2023 versus Earnings per share (EPS) QR 0.054 for the same period in 2022.
  • QGIRC has a network of branches located across Qatar and an overseas branch in the United Arab Emirates.
Business

ESG H1 net profit $162m

The net profit increased by 831 percent year on year.
  • The revenue for H1 2023 experienced an 81 percent growth, amounting to AED 266 million, as opposed to AED 147 million in H1 2022.
  • ESG's total assets surged by 93 percent in comparison to December 2022, culminating in a value of AED 2.2 billion by June end.
Business

ExxonMobil Q2 profits $7.9bn

Profits fell on lower refining margins, natural gas prices.
  • Natural gas prices are down sharply from the year-ago period following a mild winter.
  • The comparative weakness in refinery margins reflects sluggish economic conditions.
Business

PIF sets up tourism firm Asfar

Firm Saudi Tourism Investment Company has been set up.
  • The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
  • The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Business

Italy’s Eni Q2 profits down

Adjusted net profit also fell down 49 percent in the second quarter.
  • Like its competitors, Eni benefited last year from the spike in gas and oil prices, fuelled by the economic recovery after the pandemic and Russia's invasion of Ukraine.
  • Eni posted a record net profit of 13.8 billion euros in 2022, its best result in more than two decades.
Business

Tabreed H1 23 net profit $105m

New customers and projects were added in H1 2023.
  • In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
  • Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.
Business

SAB H1 profit up 59%

The bank's profit in Q2 increased by 43% compared to Q2 2022.
  • SAB’s net profit dropped by 12.2 percent from SAR 1.76 billion in Q1 2023. 
  • H1 profit rise was mainly due to an increase in net special commission income, income from FVSI financial instruments.

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.
Business

Company News

Musk’s AI startup to raise $1bn

Tawzea, NWC ink pacts

Mubadala invests in Zenobē

Turkish Airlines, Riyadh Air ink MoU

Spotify cuts 17% jobs

Latest News

Borouge full-year net profit $1bn

The firm posted third consecutive rise in quarterly earnings.
Business

GSK profit in 2023 falls

The drug maker said revenues swelled 3 percent to $38.54bn.
Business

CBD posts record net profit of $721m

The bank has proposed record cash dividend of 44.38 fils per share.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UPS says will cut 12,000 jobs

The move comes as UPS seeks to "align" its resources.
  • Three-quarters of the reductions are set to come in the first half, UPS CEO said.
  • The decision comes after UPS reported Q4 2023 revenues of US$24.9 billion.
Business

Pfizer reports loss in Q4

The drugmaker's revenues fell 41 percent to $14.2 billion.
  • The drugmaker lost $3.4 billion in the fourth quarter, compared with profits of $5.0 billion in the year-ago period
  • Pfizer reiterated its 2024 revenue forecast of $58.5-$61.5 billion after 2023 revenues came in at $58.5 billion
Business

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.
  • Demand for electric vehicles in the UAE market has steadily increased over the past few years.
  • The collaboration also aims to deliver on the demand for sustainable transportation in the UAE.