Aramco, unit and Sinopec ink $4bn deal
The two companies will establish a joint venture company.
Business
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
Business
Infracorp logs $29.8m profit
Business
ADX lists FAB Green Sakuk
Business
Naufar partners with MEEZA
Business
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.
Business
Qatar Oman Investment Co’s profit drops
Earnings per share declined to QR 0.006 in 2022.
- Earnings per share (EPS) declined to QR 0.006 in 2022, compared to an EPS of QR 0.016 in the previous year
- Qatar Oman Investment company was established in 2006, with a capital of $86 million
Business
Centrica 2022 profit US$4bn
Firm's profit rose due to gas and crude oil prices spike.
- Britain's government of Prime Minister Rishi Sunak is temporarily subsidizing electricity and gas bills this winter.
- Centrica expanded its stock buyback scheme to hand another $360 million to shareholders.
Renault boosts profitability
The company's sales rose by 11.4% to $49.7 billion
- The company expanded its operating profit margin to 5.6 percent of sales in 2022 and aims to increase it to at least 6.0 percent this year
- It also decided to propose a dividend of 0.25 euros per share, the first time it will pay out to shareholders since 2019
Business
Airbus earns record net profit
The company delivered 661 aircraft last year.
- Net profit rose one percent to 4.2 billion euros ($4.5 billion) as Airbus delivered 661 aircraft last year despite original plans to hand over 720 to clients
- Airbus had chopped production during the pandemic when airlines were forced to halt most operations due to travel restrictions
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Aramco, unit and Sinopec ink $4bn deal
The two companies will establish a joint venture company.
Business
Company News
Ooredoo, QNBN sign agreement
Business
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Beltone 9M net profit at $2.7m
Business
Infracorp logs $29.8m profit
Business
ADX lists FAB Green Sakuk
Business
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
Business
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Business
EVA Air orders 33 Airbus planes
The deal could be worth as much as $8.5 billion.
- The 33 planes ordered include 18 long-range A350-1000 planes and 15 single-aisle A321neo models
- The wide-bodied A350-1000 type can seat up to 410 passengers and travel up to 18,000 kilometers non-stop
Business
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
- The listings on ADX included Mubadala’s highly oversubscribed debut Green Bond and Mubadala’s inaugural dirham-denominated bond.
- The listing of Mubadala’s green bond marks the seventh listing of a green debt instrument on ADX.
Business
Nakilat expands its fleet
The Qatari firm placed orders for 6 carriers with HSHI.
- Upon delivery, Nakilat's LNG fleet will expand to 71 vessels, and the LPG fleet will grow to eight vessels with the addition of the four new vessels.
- The orders include two cutting-edge LNG carriers with a cargo capacity of 174,000 cum each and four modern Very Large LPG/ Ammonia Gas carriers.