Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
- Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
- AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news
Business
Sovcomflot 2023 net profit $900m
In 2023, the firm demonstrated strong financial results.
- The company's revenue increased by 22.6 percent in 2023
- Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.
Business
Du, Samsung ink agreement
The two companies have signed a three-year partnership.
- This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
- The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Business
AstraZeneca to buy Amolyt for $1bn
It will pay $800 million upfront for the Lyon-based company.
- The London-listed group added that the transaction would bolster its rare diseases division Alexion.
- AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.
Business
DP World 2023 profit is $1.5bn
The company's revenue grew 6.6 percent to $18.25 billion.
- DP World logged a 13 percent decarbonization in Scope 1 and Scope 2 carbon emissions.
- The cash generated from the company's operating activities rose to $4.5 billion in 2023.
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
- The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
- The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Business
Lego net profit falls
Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
- The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
- Sales made directly to consumers through Lego's physical and online stores rose by four percent.
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
- The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
- Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.
Business
Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.
- The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
- It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.
Business
Nationwide offers to buy Virgin Money
Nationwide has offered US$3.7 billion for Virgin Money.
- Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
- The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.
Company News
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Latest News
Al Ansari approves $85m dividend
Business
Perplexity eyes TikTok buy
Business
Dar Alarkan 2024 profit up 32%
Business
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
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Business
Al Ansari approves $85m dividend
This is approx 78% of the company's net profit after tax.
- Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
- Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.
Business
Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.
- TikTok temporarily shut down in the United States and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.
- Trump suspended its implementation for two-and-a-half months after beginning his second term in January, seeking a solution with Beijing.
Business
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
- It reported consolidated full-year revenue of AED 30.98 billion and EBITDA of AED 15.73 billion for 2024.
- It said the consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water, and cooling services.