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.
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.
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 $256 million recorded the previous year.
The net profit for the fourth quarte
Kuwait’s Qurain Petrochemical Industries Company (QPIC) has announced a net profit of KD6.61 million ($ 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
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
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
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
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
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).