Boeing posts Q3 loss
Business
Thuraya, nybl sign MoU
Business
Siemens posts increased Q1 profit
The company said orders nearly doubled in mobility division.
Business
General Motors Q3 profit surge
Business
Stora Enso posts loss again
Business
DEWA okays H1 dividend of $843m
Business
Aramco, ENOWA ink pact
Business
Business
UniCredit 2022 net profit at $7bn
Bank said it would pay out US$5.6 billion to shareholders.
- The news sent the bank's share prices zooming more than eight percent higher in morning trading.
- The European Central Bank has been lifting interest rates since last year to tackle inflation and tame consumer price growth.
Business
UBS Q4 net profit at US$1.7bn
Net profits at the banking giant rose 23% in Q4 of 2022.
- For the full year 2022, UBS meanwhile saw its net profit inch up to $7.6 billion from $7.5 billion a year earlier.
- As revenues generated by global markets dwindled, UBS's investment bank saw revenues shrink 24 percent in the fourth quarter.
Business
ADIB net profit in 2022 is $985m
ADIB's revenue increased by 23% to US$1.8 billion in 2022.
- ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
- The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.
Business
YahClick, Canar sign 6-year pact
The $15 million pact will expand YahClick's presence in Africa.
- The deal will make Sudan's Canar Telecom one of YahClick’s largest service providers across the region.
- Under the agreement, Canar has procured significant satellite capacity from YahClick.
Business
QInvest exends book building period for MEEZA IPO
MEEZA is a leading provider of end-to-end IT services in Qatar.
- Qualified investors will use this extension to finalize internal approvals and submit their orders
- The purpose of the book building mechanism is to set the final Offer Share price for the IPO
Business
Masraf Al Rayan’s 2022 profit dips by 22%
In 2021, the company's profit was $0.46 billion.
- The figures issued by the bank show a decrease in the earnings per share to QR 0.140 per share in 2022
- The company has recommended a cash dividends of 10 percent of the nominal value of a share
Business
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.
- The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
- The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
Business
Flybe stops trading, cancels flights
Earlier it was a leader in the UK domestic flights sector.
- "We are sad to announce that Flybe has been placed into administration," the airline tweeted.
- The UK Civil Aviation Authority advised passengers booked with Flybe not to go to the airport.
Business
UAE banks’ saving deposits rise to $67bn
On a monthly basis, the deposits grew by 0.06 percent.
- On a monthly basis, the deposits grew by 0.06 percent, compared to about $67 billion in October 2022
- Demand deposits increased by $234 billion, or 82.5 percent, to $245 billion at the end of November last year
Business
DIC buys 9% equity in Monument Bank
Equity will help DIC enter one of the most regulated markets
- Monument Bank targets UK’s 'mass affluent' and aims to provide core banking and other related services to clients.
- Monument Bank’s CEO Ian Rand said that the partnership will help to enhance its UK business and launch innovative solutions
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NHC, NAVER Cloud ink pact
Business
General Motors Q3 profit surge
Business
Stora Enso posts loss again
Business
DEWA okays H1 dividend of $843m
Business
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.
Business
AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.
Business
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Business
Tabreed 9M profit at $218m
This is due to the steady growth in its consumption volumes.
- Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
- This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.
Business
Siemens posts record profit
Its shares rose over 6 percent on the Frankfurt Stock Exchange.
- The company, whose businesses range from making trains to automating production processes, earned a net profit of $8.62 billion in 2022-2023.
- Sales, at $84.6 billion, rose 11 percent on the previous year while for 2024, the group expects revenue to grow in a range of between 4 and 8 percent.
Business
Alstom to cut 1500 jobs
Alstom said it aims to cut debt by 2 billion euros by March 2025.
- Alstom posted last month a negative cash flow of 1.15 billion euros ($1.25 billion) in the first half of its fiscal year.
- The group said it was working on a "comprehensive operational, commercial, and cost efficiency plan" to reinforce its balance sheet.