Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
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Equinor profits tumble
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UDC posts net profit of US$63m
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QFZ, Samsung C&T ink MoU
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TotalEnergies Q3 profit up 1.5%
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PIF, Pirelli establish a JV Â
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Ghitha Holding Q3 profit of $33m
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Bank Albilad posts net profit
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Business
ArcelorMittal 2022 profit $9.3bn
Profit was affected as demand for steel fell and production hit.
- ArcelorMittal took a $1 billion hit after suspending production at its Ukrainian factory in Kryvyi Rig.
- The conflict "resulted in low levels of production, sales and income and created significant uncertainty about the timing and ability" of operations.
Business
DEWA 2022 profit is $3bn
DEWA reported consolidated revenue of $7.46 billion.
- DEWA reported consolidated revenue of $7.46 billion and net profit of $2.17 billion
- DEWA’s minimum reserve margin in 2022 for power and water was 28% and 15.2% respectively
Business
UDC posts $107mn net profit
Established in 1999, UDC was first listed on the Qatar Exchange in June 2003.
- Established in 1999, UDC was first listed on the Qatar Exchange in June 2003
- It has an authorized share capital of 0.96 billion and total assets of $6 billion
Business
Equinor posts record profit
Output slipped by 2% to 2.04 million barrels per day of oil equivalent.
- Net profit more than tripled to $28.7 billion, boosted mainly by skyrocketing gas prices.
- Equinor said it plans to invest $10-11 billion in 2023 and increase its oil and gas production by three percent.
Business
Dana Gas 2022 net profit $182m
The rise in adjusted net profit driven by high energy prices.
- Excluding other income and impairments, the company reported an adjusted net profit of $196 million as compared to $128 million in 2021, an increase of 53 percent.
- The increase in revenues is due to higher realized prices and production output in the Kurdistan Region of Iraq.
Business
Etihad Cargo, Astral sign MoU
They will share up to 50 percent of all available capacity on flights.
- Via Etihad Cargo’s Abu Dhabi hub, the carrier’s global network will offer connectivity to destinations around the world.
- Etihad Cargo will utilize its road feeder service network to transport cargo arriving in Abu Dhabi from Nairobi to destinations throughout the UAE.
Business
BP posts loss on Russia exit
The company posted annual loss of $2.5 billion.
- The company posted annual losses after tax totalling $2.5 billion, compared with net profit of $7.6 billion in 2021
- Oil and gas prices soared last year after the attack by major energy producer Russia on Ukraine triggered massive supply constraint
Business
Doha Bank, Qatar Cinema profits rise
The bank’s earnings per share amounted to QR 0.25.
- The bank revealed a net profit of $210,267,857 in comparison to a net profit of $193,344,505 for the same period of the previous year
- Qatar Cinema disclosed a net profit of $762,876 in comparison to a net profit of $592,251 for the same period of the previous year
Business
Newmont offers to buy Newcrest
If the deal is sealed, it would be gold sector's largest acquisition.
- Newmont's offer calls for the merged firm to be 70 percent owned by the Denver, Colorado-based company and 30 percent owned by the Australian firm.
- Newcrest's share price rose 9.27 percent to $16.90 (A$24.53) on the ASX on Monday.
Business
Orient, Mashreq sign partnership
They will launch Orient Educare, a savings and insurance plan.
- Orient Educare is designed to provide Mashreq customers with a low-risk savings plan that offers investment growth and insurance.
- The new product is designed for individuals and families looking to prepare for education fees or retirement.
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.
Business
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Eni Q3 profit drops
Business
Equinor profits tumble
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UDC posts net profit of US$63m
Business
QFZ, Samsung C&T ink MoU
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Mashreq’s net profit surges 122%Â
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TotalEnergies Q3 profit up 1.5%
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PIF, Pirelli establish a JV Â
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Ghitha Holding Q3 profit of $33m
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Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
Business
PureHealth to list on ADX
The company is expected to start trading on ADX in December 2023.
- Subject to obtaining regulatory approvals and other relevant considerations the company is expected that trading on ADX will commence in December 2023
- In May 2023, PureHealth completed its acquisition of Ardent Health Services, which is USA’s fourth largest private healthcare group
Business
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
- This partnership will enable Obeikan AGC Glass to secure their international sales against non-payment risks posed by global buyers.
- This agreement significantly amplifies the prospects for growth and penetration into new regional and international markets.