Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
Emaar to pay $2.39bn dividend
Business
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Business
Amazon triples quarterly profit
The company's cloud, ads, and retail businesses thrive.
- Amazon shares were up about one percent in after-market trades that followed release of the earnings figures
- Sales at Amazon online stores grew by 7% in the quarter despite competitive pressure from rivals such as Shein and Temu
Business
Fujifilm ups biotech plant investment
The cost of investment in North Carolina plant is $1.2 billion.
- The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
- The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said
Business
CBI, zypl.ai ink partnership
The pact aligns with CBI’s plan to support innovation in UAE.
- CBI, zypl.ai partnership signifies a strategic entry into using AI implementation for advanced credit scoring.
- CBI plans to further enhance operational efficiencies to ensure a swift and seamless lending experience.
Business
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
- This strategic partnership leverages DP World's extensive trade network and real-time data insights.
- It empowers RAKBANK with enhanced risk assessment capabilities and streamlined access to financing.
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
Liberty Media buy MotoGP
Formula One owners paid US$4.5 billion for the deal.
- The acquisition is expected to be completed by the end of 2024 subject to clearances and approvals.
- MotoGP said Liberty Media would acquire "approximately 86 percent" stake from Spain-based owners Dorna.
Business
Omantel approves cash dividend
Net profit grew by 13.1 percent compared to 2022
- Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.
- Omantel Group revenues and profits, as the group's revenues were up by 9.7percent
Business
Huawei profit tops $12bn
The profits more than doubled compared to 2022.
- Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
- Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
Business
Amanat FY 2023 revenue $195m
The company's revenue grew by 40 percent year-on-year.
- Amanat announced a proposed dividend of US$13 million for FY 2023, with additional interim dividends planned for 2024.
- The balance sheet reached US$158 million in cash at year-end, and low leverage provided significant capital for deployment.
Business
Embracer sells Borderlands
The sale is expected to be completed by June-end .
- The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
- Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K
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Ford’s US Q1 auto sales dip
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Goldwind 2024 revenue up 12.5%
Business
Emaar to pay $2.39bn dividend
Business
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Vanke reports annual loss of $6.8 bn
The property giant attributes loss to falling sales and shrinking profit.
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Business
Aramco acquires stake in BHIG
The 50% equity interest in BHIG is Aramco-APQ joint venture.
- The agreement brings together experts in their respective fields to provide the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.
- BHIG is expected to commence commercial operations to produce blue hydrogen in coordination with Aramco's carbon capture and storage (CCS) activities in Jubail.
Business
ADNOC L&S okays $273m dividend
The final dividend of $136.5m will be paid on April 3.
- ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said.
- Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).
Business
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
- It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
- ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.