Friday 22 September 2017
 
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Flydubai posts $38.7m H1 loss; revenues top $680m

Dubai-based low-cost carrier flydubai reported a loss of Dh142.5 million ($38.7 million) for the first half of the year despite revenues and passenger numbers going up. The airline had reported a loss of Dh89.9 million ($24.4 mill

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Etihad posts $1.87bn loss; impairment charges blamed

UAE's Etihad Airways recorded a net loss of $1.87 billion in 2016 as one-off impairment charges and fuel hedging losses weighed against a solid performance of the core airline. It posted a total revenue of $8.36 billion. The loss, w

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Jazeera posts $2.9m net loss for Q1

Kuwait-based Jazeera Airways posted a net loss of KD900,000 ($2.9 million) for the first quarter of 2017. The airline's operating revenue for the quarter was KD10.1 million ($33.1 million), down 15.3 per cent from Q1 2016, and

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Saudi Tadawul issues new rules for loss-making firms

Saudi Stock Exchange (Tadawul) will implement new procedures and laid out instructions related to listed companies with accumulated losses reaching 20 per cent or more of its share capital as of April 22, said a report, citing the kingdom'

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Alba sees 3 - 5pc output loss from power outage

A recent power outage in Aluminium Bahrain (Alba), an international aluminium smelter, is expected to result in a loss of 3 to 5 per cent of its total production for 2017, the company said. However, the losses from the incident wi

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Abu Dhabi energy firm Taqa posts $5.2bn net loss

Abu Dhabi National Energy Company (Taqa) has reported a net loss of Dh19 billion ($5.2 billion) for the financial year 2016 as it wrote down the value of oil assets after prices slumped. Announcing the results, Taqa said it booked

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Loss-hit Arabtec outlines major recovery plan

Arabtec Holding, a leading construction company in the Middle East, on Thursday outlined a major recapitalisation programme which will see the loss-hit company raise Dh1.5 billion (($408 million) through a rights issue as part of its new recover

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Arabtec eyes $408m rights issue as 2016 loss widens

Arabtec Holding, a leading construction company in the Middle East, is planning to raise Dh1.5 billion ($408 million) from a rights issue after posting a second yearly loss in 2016, according to a report. This has widened to Dh3.4

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Saudi retail giant Savola swings to Q4 net loss

Savola Group, one of Saudi Arabia’s leading retail and food holding companies, has reported a net loss of SR964 million ($257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ($137 million) for the same peri

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Saudi retail giant Savola swings to Q4 net loss

Savola Group, one of Saudi Arabia’s leading retail and food holding companies, has reported a net loss of SR964 million ($257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ($137 million) for the same peri

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