Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
Business
Eni posts record profit in 2022
Sales jumped 73 percent to 132.2 billion euros.
- Sales jumped 73 percent to 132.2 billion euros, beating analyst expectations
- But oil and gas production fell by four percent to 1.61 million barrels per day of oil equivalent
Business
IAG flies back into annual profit
Net profit came in at $457m, compared to 2.9bn euros loss in 2021.
- IAG announced Thursday the acquisition of Air Europa for 500 million euros from the Spanish company Globalia.
- IAG said it recruited 7,400 colleagues last year after axing about 10,000 on Covid fallout.
Business
Rolls-Royce sinks into net loss
Turnover however soared by more than a fifth to £13.5 bn.
- Rolls posted a net loss of almost £1.3 billion ($1.5 billion), after a profit after tax of £120 million the previous year.
- Rolls added that it would announce the outcome of a strategic review in the second half.
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.
Company News
Pure Health announces IPO
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Mumtalakat, Investcorp ink pact
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Eve Air Mobility, flynas ink MoU
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Ooredoo, QNBN sign agreement
Business
Delta reports profit jump
Its revenue jumped to $14.2 billion for the quarter.
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
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Business
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
- It reported a decline in profit for the October-December quarter, and revised its revenue growth guidance to 1.5-2.0 percent in constant currency terms
- A big employer of India's engineering graduates, the company upset markets last quarter after it said it would halt campus hiring in an effort to cut costs
Business
OYO New Year Eve bookings up 64%
Oman emerges top performer in the GCC region.
- Saudi Arabia with 59 percent and United Arab Emirates with 31 percent growth were the other top performers.
- Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.