Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
AJEX, MODON sign partnership
Business
Tabreed 9M profit at $218m
Business
Alstom to cut 1500 jobs
Business
ADNIC reports $82m profit
Business
ADNOC Gas net income $3.37bn
Business
Business
SK Hynix posts record loss
The company is world's second-largest memory chip maker
- The South Korean chipmaker SK Hynix reported an operating loss of $1.4 billion in the October to December period
- Hynix's results come a day after Samsung Electronics said fourth-quarter operating profits plunged nearly 70 percent
ADCB 2022 net profit $1.75 bn
The bank’s net profit for Q4 2022 was up 23%.
- The bank's net interest income was to the tune of AED 10.194 billion, an increase of 15 percent compared to 2021.
- The Board has recommended a dividend of AED 0.55 per share, equivalent to 60 percent of net profit.
Business
ExxonMobil 2022 profit at $55.7bn
Results reflect higher production of oil, natural gas.
- The huge profits by oil companies have sparked pushback from governments.
- In 2022, ExxonMobil put $29.8 billion into shareholder distributions, evenly split between dividends and share repurchases.
Business
UniCredit 2022 net profit at $7bn
Bank said it would pay out US$5.6 billion to shareholders.
- The news sent the bank's share prices zooming more than eight percent higher in morning trading.
- The European Central Bank has been lifting interest rates since last year to tackle inflation and tame consumer price growth.
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.
Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
Company News
AJEX, MODON sign partnership
Business
Tabreed 9M profit at $218m
Business
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Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
Business
Dragon Oil, Turkmennebit ink MoU
Aim is to expand Dragon Oil’s investments in Turkmenistan.
Business
Tesla to recall 1.6m EVs in China
China is a vital component in US-based Tesla's global layout.
Business
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Business
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.
- Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
- This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Business
SRC, Alrajhi extend refinancing pact
The agreement was extended by an additional $1.54 billion.
- The extension of this agreement marks a significant stride in advancing the goals of the Vision 2030 Housing Program, said Majeed Fahad Alabduljabbar, CEO of SRC.
- SRC was established in 2017 by the Public Investment Fund after obtaining a license from Saudi Central Bank to operate in the market.
Business
Noatum buys APM Terminals Castellón
Noatum Terminals is the terminals ops business of Noatum Group.
- The agreement, which was reached with APM Terminals, has obtained all regulatory and stakeholder approvals and the change of ownership will happen immediately
- In parallel, a long-term agreement with the stevedoring union has been achieved which will assure stability and high productivity in the coming years