Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
Business
Alstom to cut 1500 jobs
Business
ADNIC reports $82m profit
Business
ACWA Power, SEC sign PPAs
Business
Chemanol to buy stake in ACC
Business
Business
UBS Q4 net profit at US$1.7bn
Net profits at the banking giant rose 23% in Q4 of 2022.
- For the full year 2022, UBS meanwhile saw its net profit inch up to $7.6 billion from $7.5 billion a year earlier.
- As revenues generated by global markets dwindled, UBS's investment bank saw revenues shrink 24 percent in the fourth quarter.
Business
ADIB net profit in 2022 is $985m
ADIB's revenue increased by 23% to US$1.8 billion in 2022.
- ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
- The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.
Business
YahClick, Canar sign 6-year pact
The $15 million pact will expand YahClick's presence in Africa.
- The deal will make Sudan's Canar Telecom one of YahClick’s largest service providers across the region.
- Under the agreement, Canar has procured significant satellite capacity from YahClick.
Business
QInvest exends book building period for MEEZA IPO
MEEZA is a leading provider of end-to-end IT services in Qatar.
- Qualified investors will use this extension to finalize internal approvals and submit their orders
- The purpose of the book building mechanism is to set the final Offer Share price for the IPO
Business
Masraf Al Rayan’s 2022 profit dips by 22%
In 2021, the company's profit was $0.46 billion.
- The figures issued by the bank show a decrease in the earnings per share to QR 0.140 per share in 2022
- The company has recommended a cash dividends of 10 percent of the nominal value of a share
Business
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.
- The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
- The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
Business
Flybe stops trading, cancels flights
Earlier it was a leader in the UK domestic flights sector.
- "We are sad to announce that Flybe has been placed into administration," the airline tweeted.
- The UK Civil Aviation Authority advised passengers booked with Flybe not to go to the airport.
Business
UAE banks’ saving deposits rise to $67bn
On a monthly basis, the deposits grew by 0.06 percent.
- On a monthly basis, the deposits grew by 0.06 percent, compared to about $67 billion in October 2022
- Demand deposits increased by $234 billion, or 82.5 percent, to $245 billion at the end of November last year
Business
DIC buys 9% equity in Monument Bank
Equity will help DIC enter one of the most regulated markets
- Monument Bank targets UK’s 'mass affluent' and aims to provide core banking and other related services to clients.
- Monument Bank’s CEO Ian Rand said that the partnership will help to enhance its UK business and launch innovative solutions
Business
Emirates NBD’s 2022 net profit $3.53 bn
The rise was driven by strong regional economic growth.
- The bank's Q4 profit was particularly strong, at AED 3.9 billion, up 94 percent year-on-year.
- The bank also proposed a 20 percent increase in the cash dividend to 60 fils per share.
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Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
Business
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ADNOC Gas net income $3.37bn
Business
ACWA Power, SEC sign PPAs
Business
Chemanol to buy stake in ACC
Business
SRC, Alrajhi extend refinancing pact
The agreement was extended by an additional $1.54 billion.
Business
Noatum buys APM Terminals Castellón
Noatum Terminals is the terminals ops business of Noatum Group.
Business
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Business
MODON launches 10 projects
The projects in 6 industrial cities are valued at $143 million.
- These projects, conducted in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content.
- Among the agreements, MODON has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities.
Business
Cerberus buys HSBC France retail
The takeover was finalized for an undisclosed amount.
- The operation will see HSBC France's nearly 250 retail branches with their 800,000 clients and 3,500 staff become CCF
- The move is part of London-headquarters HSBC's efforts to simplify and refocus operations on its major region of Asia
Business
Albilad Capital to pay dividend
The distribution ratio of the NAV stands at 0.10 percent.
- Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.
- The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance