Riyadh, Saudi Arabia -- Saudi Aramco netted $12.35 billion, $1 billion more than expected, from a secondary share sale after exercising an over-allotment option, the deal's stabilizing manager said on Wednesday. An additional 154.5 million shares were issued in response to demand from investors, Merrill Lynch Kingdom of Saudi Arabia said, taking...
IHC Q1 net profit $2.17bn
The company launches Share Buyback Programme
ADIB 2023 net profit $1.4bn
The bank achieved a Return on Equity of 27.1 percent.
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.
ADNOC L&S profit spikes 138%
Its revenue jumped 41% to US$748 million in 2023.
Barwa Real Estate net profit up
It posted an 8% jump in net profit to US$337m for last year.
Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.Apple logs US$119.6bn in sales
But its sales in China dropped during October to December.
Qatar Islamic Bank profit up
It posted a 7.5% jump in net profit to US$1.18bn last year.
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport
Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub leaves Qatar as its biggest shareholder. Ferrovial said it was offloading its 25 percent stake for nearly US$3 billion, with the other 15 percent going to...
Evergrande shares begin trading
The shares dropped nearly 9 percent at the close of trading.
Bristol Myers to buy Mirati
The US firm will pay US$4.8bn to acquire cancer drugmaker.Meeza, QNBFS sign agreement
The liquidity agreement is for Meeza's listed shares on QSE.
GIS profit climbs in H1
Its net profit jumped to US$77.19m as against US$37.63m.
QEWC reports 12% profit jump
The Qatari company's net profit for H1 stands at US$211.26m.Qatar Central Bank foreign reserves surge by 14.3% in July
Doha, Qatar - The international reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged last July to reach QR 241.572 billion ($66.26 billion), marking a 14.13 percent increase compared to QR 211.325 billion ($58.17 billion) in the same month the previous year. The data released on Monday by...
Nakilat profit up 6.1%
The Qatari gas firm's net profit rose to US$213m in H1 of 2023.Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
Boursa Kuwait profit declines
It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.
QIIB profit climbs 7.7 percent
Its net profit for H1 of 2023 jumped to US$169 million.
SALIC buys 10.7% stake in BRF
The deal is worth US$266 million (SAR1.27 billion).
Ant Group to buyback shares
Share buyback plan values Ant Group at $78.5 billion.
Saudi CMA cancels its share in sukuk, bonds trading commission
Riyadh, Saudi Arabia--The Capital Market Authority (CMA) has announced the cancelation of its share in sukuk and bonds trading commission from May 2023 onwards. The measure is intended to reduce costs on market participants in a way that enhances liquidity, increases competitiveness in the local market and expands domestic investors'...Alkhaleej Insurance posts profit
Its net profit soared 33% to US$7.49mn for Q1 of 2023.DFM, ADX account for 20% of Arab exchanges’ liquidity last week
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) accounted for nearly 20 percent of the Arab exchanges' liquidity in last week’s trades. According to a Arab Monetary Fund (AMF) weekly newsletter, Arab exchanges attracted liquidity amounting to nearly US$10.28 billion last week, of which...
Iraq invites Turkey, Iran to discuss water share issue
BAGHDAD, IRAQ - Iraq's Minister of Water Resources Aoun Diab said on Sunday that the releases of the Tigris River will improve in the coming days. He also said that an invitation was extended to the Iranian Minister of Energy to attend the third Baghdad Water Conference. Diab said that...e&’s board declares dividend
The dividend for H2 of 2022 will be at AED 0.4 per share.Emaar Properties to pay dividend
It will dole out cash dividends to the tune of US$601m.
Saudi Steel Pipe’s profit up
Its profit shot up more than 5,000% to $14.45m in 2022.Inma Holding’s profit spikes
Its net profit jumped 61.7%, touching $2.69m in 2022.QIMC profit rises by 9.8%
Its profit rose to $42m during 2022 as against $38m in 2021.UniCredit 2022 net profit at $7bn
Bank said it would pay out US$5.6 billion to shareholders.Electric vehicles form 80% of new car sales in Norway
Electric vehicles in the Scandinavian country now account for almost four out of every five new car registrations, setting a new record, according to new figures. Tesla tops the list with more than 12 percent market share, with some 138,265 new electric cars sold in the country last year.
Facebook agrees to pay $725m to settle privacy suit
Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of allowing third parties, including Cambridge Analytica, to access users' private data. The amount was disclosed in a court filing late on Thursday. Facebook has not admitted any wrongdoing as part...
BinDawood’s profit falls by 74%
Its net profit tumbled to $16m in first nine months.Al-Othaim’s profit up by 436%
Its profit rose to $235m in the first nine months of 2022.BP underlying Q3 profit at $8.2bn
BP, flush with cash, revealed a $2.5 billion share buyback.
Volvo Cars posts Q3 net profit of US$61m
Retail sales declined in its main markets Europe and the US.Riyad Bank reports 13% jump in profit
The bank's profit rose to $1.3bn in the first nine months of 2022.
Zain KSA shares go up
The stock rose after the transfer of its subsidiary to the PIF.Retal’s stock rises 2.4%
It will build 550 housing units in Riyadh for $161m.Anaam to raise US$42m
The capital will be raised through a rights issue.Sure Global to list on Nomu
The Saudi tech firm has set the price at $19 per share.The melting fortunes of OSN
A once market leader that everyone looked up to, OSN is now a paler version of its former glory. It is struggling to keep up with the competition from Netflix, Shahid, and Disney Plus.SEC’s profit fell to $1.9bn in H1
The Saudi utility firm's sales however surged to $8.80bn.
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022.
Siemens writes off $2.8 billion
The move came after share price of its former energy unit fell sharply.PIF, Capital Bank Group sign pact
The deal worth $185m makes PIF a strategic investor in the group.TikTok to unveil ad revenue-sharing program for creators
TikTok on Wednesday announced an ad revenue-sharing program with the social media platform's most prominent creators, moving closer to a model already used by its competitors.
