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Company News

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

Rolls-Royce back into profit

The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.

Business

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.

Business
Business

KEZAD, Al Ghurair Foods ink pact

Pact involves investment of over US$272 million.
  • The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
  • The highest standards of food safety in line with International biosecurity standards will be followed.
Business

American Q1 profit at $10m

The airline's revenues were $12.2 billion, up 37 percent.
  • The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
  • With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
Business

FAB posts Q1 net profit of $1bn

Operating income increased by 51 percent year-on-year.
  • The Q1 net profit rose by 60 percent sequentially, leading to an annualized Return on Tangible Equity of 18.5 percent.
  • The cost-to-income ratio improved to 25.1 percent, compared to 33.2 percent in the same quarter last year.
Business

TotalEnergies Q1 profit up 12%

The firm had sold its oil sands activities in Canada to SunCor Energy.
  • TotalEnergies revealed that the net profit during the first three months was $5.6 billion in 2023.
  • Jump in oil, gas prices post Russia-Ukraine war boosted TotalEnergies' profit to $20.5bn in 2022.
Business

Barclays Q1 net profit at $2.2bn

The bank's profit was boosted by rising interest rates.
  • Pre-tax profit rallied 16 percent to $3.2 billion, making Barclays the biggest gainer on London's top-tier shares index.
  • The Bank of England and its global counterparts have ramped up interest rates to tackle sky-high inflation.
Business

Gulf bank Q1 net profit $56.50m

The bank's return on assets improved marginally to 1 percent.
  • Gulf Bank recorded an operating income of KD 46.4 million for the first three months of 2023, and an operating profit before provisions of KD 25 million for the same period.
  • The operating profit has increased by KD 3.2 million or 15 percent for the first quarter of 2023 compared to the same period of last year.
Business

NBF Q1 net profit up 151 percent

The bank's operating profit rose by 35.7 percent compared with Q1 2022.
  • Operating income reached AED 554.1 million, up 34.2 percent compared to AED 412.8 million in the corresponding period of 2022.
  • Loans and advances and Islamic financing receivables rose by 2.3 percent to reach AED 27.5 billion compared to AED 26.9 billion at 2022 year-end.
Business

Boeing Q1 loss $425m

Boeing's loss in the first quarter of 2022 was $1.2 billion.
  • Boeing affirmed its full-year outlook for operating cash flow, a key metric, and for 737 plane deliveries in 2023.
  • Boeing's revenues came in at $17.9 billion, up 28 percent from Q1 2022 and topping analyst expectations.
Business

Xlinks secures $37m funding

The funds will be used in laying subsea cables between UK and Morocco.
  • It is one of several first-of-a-kind long-distance renewable energy generation and cross-border export project being planned globally.
  • It had secured 25 million pounds of investment from Abu Dhabi National Energy Company (TAQA) and 5 million pounds from Octopus Energy Group.
Business

GSK Q1 profit dips

Revenue dropped more than three percent to $8.74 billion.
  • Profit after tax fell to £1.5 billion ($1.9 billion) compared with the first three months of 2022.
  • GSK is seeking to concentrate on development of new drugs after overseeing the split of Haleon.

Rolls-Royce back into profit

The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business

Company News

Yansab 9M net loss $134 million

DP World, TPA ink pact

New CEO appointed in SRC

Mobily 9M 2023 profit up 41%

EasyLease Q3 revenue $57.66m

Latest News

MBC IPO retail subscription begins

MBC Group runs a group of TV and radio channels.
Business

Andalusia Labs secures $48m funding

The company deals in risk management infrastructure for digital assets.
Business

Pfizer set to acquire Seagen

The drugmaker will complete its US$43bn buyout this week.
Business

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Business

UAE, Korean firms ink pact

The partnership will utilize low-cost indoor farming solution.
  • The facility will be co-located within livestock farms to localize animal feed in Al Ain, UAE.
  • The facility will be using 95 percent less water per kilogram versus traditional farming means.
Business

SABIC announces 16% H2 cash dividend

The dividend of $1.27 billion is payable on Mar 4, 2024.
  • SABIC has announced full-year dividend of SAR 10.2 billion or 34 percent (SAR 3.4 a share) of its current capital of SAR 30 billion.
  • The company had posted a net loss of SAR 1.04 billion ($277 million) in the first nine months of 2023, against a net profit of SAR 16.24 billion a year earlier.
Business

PureHealth offer price $0.89 per share

The IPO witnesses demand of over AED 265bn ($72.15bn).
  • The offering will generate gross proceeds of AED 3.62 billion for the company. On listing, the company’s market capitalization is expected to reach AED 36.2 billion.
  • Listing and trading commencement of PureHealth’s shares on ADX are expected to take place on 20 December 2023.