Emirates expects first 777X delivery in H2 2026
Boeing had pushed back the first delivery to 2026 from 2025.
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AstraZeneca 2022 profit $3.3bn
The firm's revenues rose to US$44.4 billion in 2022.
- Investors welcomed AstraZeneca's earnings update, with its share price rallying five percent to US$13.7 in London.
- The annual net profit was boosted by cancer treatments and the integration of biotech unit Alexion following a takeover.
Business
Volvo Cars 2022 net profit $1.6bn
Revenue climbed by 17 percent to a record US$31.8 billion.
- Electric cars accounted for 11 percent of sales last year, compared to four percent in 2021.
- Volvo Cars accelerated towards the aim of becoming a fully electric car company by the end of the decade and climate neutral by 2040.
Business
ADNOC Distribution 2022 net profit $748m
The EBITDA grew by 15 percent to reach AED3.52 billion.
- Total fuel volumes continued to increase during the year, recording an 8 percent year-on-year growth through 2022 – with commercial fuel volumes up by 19 percent.
- The Company’s Board of Directors has recommended distributing a cash dividend of AED1.285 billion (10.285 fils per share), for the second half of 2022.
Business
ArcelorMittal 2022 profit $9.3bn
Profit was affected as demand for steel fell and production hit.
- ArcelorMittal took a $1 billion hit after suspending production at its Ukrainian factory in Kryvyi Rig.
- The conflict "resulted in low levels of production, sales and income and created significant uncertainty about the timing and ability" of operations.
Business
DEWA 2022 profit is $3bn
DEWA reported consolidated revenue of $7.46 billion.
- DEWA reported consolidated revenue of $7.46 billion and net profit of $2.17 billion
- DEWA’s minimum reserve margin in 2022 for power and water was 28% and 15.2% respectively
Business
UDC posts $107mn net profit
Established in 1999, UDC was first listed on the Qatar Exchange in June 2003.
- Established in 1999, UDC was first listed on the Qatar Exchange in June 2003
- It has an authorized share capital of 0.96 billion and total assets of $6 billion
Business
Equinor posts record profit
Output slipped by 2% to 2.04 million barrels per day of oil equivalent.
- Net profit more than tripled to $28.7 billion, boosted mainly by skyrocketing gas prices.
- Equinor said it plans to invest $10-11 billion in 2023 and increase its oil and gas production by three percent.
Business
Dana Gas 2022 net profit $182m
The rise in adjusted net profit driven by high energy prices.
- Excluding other income and impairments, the company reported an adjusted net profit of $196 million as compared to $128 million in 2021, an increase of 53 percent.
- The increase in revenues is due to higher realized prices and production output in the Kurdistan Region of Iraq.
Business
Etihad Cargo, Astral sign MoU
They will share up to 50 percent of all available capacity on flights.
- Via Etihad Cargo’s Abu Dhabi hub, the carrier’s global network will offer connectivity to destinations around the world.
- Etihad Cargo will utilize its road feeder service network to transport cargo arriving in Abu Dhabi from Nairobi to destinations throughout the UAE.
Business
BP posts loss on Russia exit
The company posted annual loss of $2.5 billion.
- The company posted annual losses after tax totalling $2.5 billion, compared with net profit of $7.6 billion in 2021
- Oil and gas prices soared last year after the attack by major energy producer Russia on Ukraine triggered massive supply constraint
Emirates expects first 777X delivery in H2 2026
Boeing had pushed back the first delivery to 2026 from 2025.
Business
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Yalla 9M revenue at $237.9m
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DTC sets IPO offer price range
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PureHealth to list on ADX
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Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
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Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.
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Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Business
ADQ appoints new ADX chairman
The company also appointed two new Board directors.
- Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
- Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.
Business
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
- The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
- In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.