Saturday 30 April 2016
 
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profits

Oil hits 2016 high above $42 on production, demand outlook

Oil rose above $42 a barrel, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness.   Brent

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InterCon to return $1.5bn as full-year profit rises

InterContinental Hotels Group, one of the world's largest hoteliers, has promised a special payout of $1.5 billion, even as strong demand across all its regions helped it post a rise in yearly profit, sending its shares up 4 per cent.

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Bank ABC net profit down 30pc to $189m

Bank ABC (Arab Banking Corporation) has posted a net profit of $189 million for last year, 30 per cent lower compared to a profit of $256 million recorded the previous year.   The net profit for the fourth quarte

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Glencore seals Libyan oil deal in scramble for profits

Trading house Glencore has secured a deal to buy as much as half of the oil Libya is currently exporting, market sources said, as it looks to boost trading to help offset flagging profits from mining.  

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QPIC posts 257pc rise in H1 profits

Kuwait’s Qurain Petrochemical Industries Company (QPIC) has announced a net profit of KD6.61 million ($ 21.8 million) for the first six months (H1) of the year, marking an increase of 257 per cent or KD4.76 million over the profit for H1 2

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Shell to cut 6,500 jobs, investments to reduce to $30bn

Royal Dutch Shell on Thursday reported a 37 per cent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices. The Anglo-Dutch oil and gas

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Facebook Q2 profit falls 9pc as costs soar

Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9 per cent as the social media company sharply increased spending to boost mobile revenue and future growth. Expenses will grow 55 to 60 per cent in 2

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Global airlines' profit expectations decline

Global airlines are not expecting to see significant improvements in key profitability drivers, likely reflecting concerns over weakness in the global business environment and emerging market economies. In a quarterly survey conducted t

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Air Astana reports 115pc jump in profit

Air Astana, the flag carrier of the Republic of Kazakhstan, reported a 115 per cent increase in operating profit, reaching $23.9 million in the first half of the year. Net profit was $8.3 million, versus a loss of $36.4 million in

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Toshiba ‘inflated profits by $1.2bn’

Toshiba overstated its operating profit by 151.8 billion yen ($1.22 billion) over several years in ‘institutional’ accounting irregularities involving top management, an independent committee said in a report yesterday (July 20).

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