General Motors Q3 profit surge
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Stora Enso posts loss again
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DEWA okays H1 dividend of $843m
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Emirates NBD’s 2022 net profit $3.53 bn
The rise was driven by strong regional economic growth.
- The bank's Q4 profit was particularly strong, at AED 3.9 billion, up 94 percent year-on-year.
- The bank also proposed a 20 percent increase in the cash dividend to 60 fils per share.
Business
Emirates Islamic 2022 net profit $337m
The profit was driven by funded and non-funded income.
- The bank also reported a 36 percent increase in operating profit and a 15 percent increase in total assets to AED 75 billion.
- The bank's total income went up 33 percent year-on-year driven by higher funded income and non-funded income.
Business
Nokia 2022 net profit $4.7bn
The company's Q4 net profit surged to US$3.4 billion.
- Nokia's annual net sales grew 12 percent to US$27.1 billion (24.9 billion euros)
- The company is engaged in a major competition to install 5G networks around the world
Business
Boeing posts Q4 loss of US$634m
Firm confirmed its 2023 outlook amid strong aviation demand.
- Boeing said its commercial plane business was dented by "abnormal costs".
- It said "labor instability and supply chain disruption" weighed on its defense, space and security unit.
Business
ASML posts yearly profit of $6.1bn
The profit in year 2022 is 4.4 percent lower than in 2021.
- The maker of lithography machines that print microchips, said it expects strong growth for 2023, with net sales rising more than 25 percent.
- The United States restricted exports of semiconductor technology to China last year and wants the Netherlands and Japan to follow suit.
Business
AD Ports, Tosyali sign MoU
They will collaborate in shipping, logistics and ports services.
- Potential joint investment in new port facilities to support Tosyali's export operations is part of the MoU.
- Tosyalı is one of Türkiye’s largest private steel producers, which has operations in three continents.
Business
Gulf Warehousing reports $66mn profit
The company made a profit of $62 million in Q4 2021.
- The company said in a statement that Earnings Per Share were QR 0.41 in 2022, compared to QR 0.38 in 2021
- The company's board said that it proposed dividends of QR 0.1, subject to the approval of the General Assembly
Business
Microsoft to invest in OpenAI
Microsoft has extended its partnership with OpenAI.
- The tech giant announced a "multiyear, multibillion dollar investment to accelerate AI breakthroughs"
- OpenAI's ChatGPT became an internet sensation when it was released without warning in November
Business
Azizi sells 35% Creek Views II units
The 587-residence project is scheduled for handover by Q4.
- Nearly 18 percent of the units have been acquired by UAE investors, 11.61 percent by Indian nationals, and 6.25 percent by both Jordanian and Russian investors.
- Other nationalities who have invested in units at Creek Views II include German, English, Bangladeshi and Dutch passport holders, among others.
Business
RIL posts Q3 profit of US$1.9b
Profit is 15 percent lower than in the same period last year
- Revenue from operations at India's largest company by market capitalisation rose 15 percent year on year, to US$27 billion
- Reliance's board also approved a plan to issue bonds to raise up to US$2.4 billion (200 billion rupees) to fuel further expansion across its diversified businesses.
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ADNIC reports $82m profit
This marks 16% increase compared to the same period last year.
- The company's focus on market-leading underwriting and investment performance resulted in a net profit of AED 301.9 million
- ADNIC's recently announced its intent to acquire a 51% stake in Allianz Saudi Fransi Cooperative Insurance Co
Business
Emirates, Safran sign pacts worth $1.2bn
Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.
- The new seats will offer a host of enhancements that set a new standard for comfort, privacy and convenience.
- Safran Landing Systems will be supplying high performance wheels and carbon brakes for the Emirates A350 fleet.
Business
ADNOC Gas net income $3.37bn
The company's third-quarter revenue grew by 8% to $5.80 billion.
- Net income for the quarter increased by 13 percent quarter-on-quarter (Q-o-Q) to $1.116 billion.
- ADNOC Gas expects to pay its inaugural interim cash dividend of $1.625 billion with payments commencing on 14 December 2023.