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Yalla 9M revenue at $237.9m
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DEWA, ENOC sign MoU
Aim is to develop hydrogen-based mobility pilot project.
- The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
- The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
Business
Empower 2022 net profit $762m
Firm has proposed dividend of S$115 million for 2nd half 2022.
- The quality and sustainability of its services and advanced infrastructure has made it one of the world's largest player in the district cooling industry.
- This performance reflects the confidence in Empower by its customers and stakeholders, and the economic boom of Dubai.
Business
ADNOC Drilling profit rises 33%
The revenue climbed to $2.67 billion in 2022.
- The company stated in a regulatory filing that the addition of more rigs to its operating fleet, which currently number 115 rigs, was a major factor in its success
- It provided an optimistic forecast for 2023, with sales expected to range between $3 billion and $3.2 billion, indicating up to 20 percent annual growth
Business
ADNEC posts strong 2022 growth
In 2022, the Group launched its new corporate identity.
- In 2022, the Group launched its new corporate identity including exhibition and conference centres, events, hospitality, event services, and hotels
- A number of specialized companies work within ADNEC Group in six key business areas, led by ADNEC Convention and Exhibition Centres
Business
Saab 2022 net profit at $211m
Revenue rose as countries boost military spending.
- Order intake for the Swedish company totaled US$6.1 billion in 2022, a 45 percent increase from the previous year.
- They soared by 144 percent in the fourth quarter alone to US$2.8 billion year on year.
Business
Multiply Group 2022 net profit
Growth in profits driven by investments and rise in operating portfolio.
- The Group said that most of its subsidiaries showed growth in operating profits in 2022.
- It deployed more than AED12 billion in 2022, making investments in high-growth industries such as energy.
Business
TECOM reports $0.54bn revenue
The group maintained a healthy debt profile.
- The results showed strong demand for the Group's commercial and industrial properties, supported by Dubai's strong macroeconomic environment
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15 percent year-on-year to $0.36 billion
Business
Aldar posts net profit of $0.84bn
The company's revenue in 2022 rose to $3.04bn.
- The company announced a Q4-2022 net profit of $0.27 billion, up 28 percent YoY
- The company's revenue in 2022 rose to $3.04 billion, up 31 percent YoY
Business
Industries Qatar’s profit surges
The company saw a 9 percent increase in its net profit.
- The company's board recommended cash dividend of QR 1.1 per share, equivalent to 110 percent of the nominal value of the share
- Incorporated as a Qatari joint stock company on April, 19, 2003, Industries Qatar has a share capital of QR 6,050 billion
Business
Credit Suisse 2022 loss $7.9bn
Since March 2021, bank's stock lost over 75% of value.
- The Zurich-based lender had waved goodbye to more than eight billion Swiss francs during the global financial crisis 15 years ago
- Credit Suisse recorded net asset outflows of 110.5 billion Swiss francs in the fourth quarter of last year alone, mostly in October
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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.
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Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.
- The United States was the group's biggest market in 2023, followed by China.
- The emblematic British car brand became part of German auto giant BMW in 1998.
Business
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.
- Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
- Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.