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.
Business
AlUla signs pact with Six Senses
Business
stc Group posts 9-month revenue
Business
Mulk, Ajman Holding form JV
Business
Borouge Q3 net profit up 22%
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Business
ADNOC Gas IPO offer price range
The subscription period opens on February 23.
- The Abu Dhabi National Oil Company expects to sell 3,070,056,880 ordinary shares, representing approximately 4 percent of the Company’s issued share capital
- The subscription period for the Offering opens on February 23, and will continue until Wednesday, March 1, for the UAE Retail Offering.
Business
Americana net income up 27.1%
This was company's first financial result since dual listing.
- Americana Restaurants Board announced H2 2022 dividends at $103.5 million or the equivalent of $0.0123 per share.
- The company achieved a revenue of $2.38 billion, a 15.9 percent year-on-year increase.
Business
British Steel to slash 260 jobs
The company employs about 4,000 workers in the UK.
- The announcement comes as British Steel, owned by Chinese group Jingye since 2020, seeks financial support from the UK government.
- British Steel said it plans to shut coke ovens at its Scunthorpe plant, northern England, which would help the group to also "build a green and sustainable future".
Lloyds bank profits dip
Profit after tax slid 6% to $6.0 billion last year.
- Profit after tax slid six percent to £5.0 billion ($6.0 billion) last year from 2021, Lloyds said in a statement
- The lender set aside £1.5 billion in provisions for borrowers defaulting on loans amid a cost-of-living sparked by rampant inflation
Business
Amanat 2022 net profit up 24%
The net profit for the year was $31.96 million, the firm said.
- The company's total income grew 16 percent to AED 178.2 million in 2022, against the AED 153.7 million in 2021.
- In a statement, the company said it has proposed dividends of AED 100 million, which is 88 percent of profit attributable to equity holders.
Business
UAB 2022 net profit at US$42m
Total operating income rose 11% in 2022 compared to 2021.
- UAB is focused on positioning itself as the partner of choice among major corporate clientele segments.
- The bank's CEO said that their focus will remain on the delivery of an enhanced customer experience.
Business
Hermes 2022 net profit $3.6bn
Fashion house posted huge earnings despite inflation.
- Sales rose 29 percent to US$12.3 billion at current exchange rates.
- Hermes said its sales rose by 30.7 percent in the Asia-Pacific region, excluding Japan, in the last three months of 2022.
Business
Qatar Oman Investment Co’s profit drops
Earnings per share declined to QR 0.006 in 2022.
- Earnings per share (EPS) declined to QR 0.006 in 2022, compared to an EPS of QR 0.016 in the previous year
- Qatar Oman Investment company was established in 2006, with a capital of $86 million
Business
Centrica 2022 profit US$4bn Â
Firm's profit rose due to gas and crude oil prices spike.
- Britain's government of Prime Minister Rishi Sunak is temporarily subsidizing electricity and gas bills this winter.
- Centrica expanded its stock buyback scheme to hand another $360 million to shareholders.
Renault boosts profitability
The company's sales rose by 11.4% to $49.7 billion
- The company expanded its operating profit margin to 5.6 percent of sales in 2022 and aims to increase it to at least 6.0 percent this year
- It also decided to propose a dividend of 0.25 euros per share, the first time it will pay out to shareholders since 2019
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.
Business
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Bupa Arabia’s 9M 2023 up 27%
Business
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AlUla signs pact with Six Senses
Business
stc Group posts 9-month revenue
Business
Mulk, Ajman Holding form JV
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
Business
EasyJet rebounds into annual profit
Profit after tax stood at £324 million.
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Business
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.
- Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
- The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
Business
JABEEN signs contracts with Retal, Abyatna
The firms will build primary and secondary infrastructure works.
- Under the contract, a total of 897 residential units will be built in the Jubail industrial city.
- The $319 million contract, which was awarded on Nov. 26, 2023, extends for 40 months, starting on the date of the land handover from JABEEN to Retal.
Business
Infracorp logs $29.8m profit
The company specializes in social infrastructure.
- Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
- The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas