Friday 12 February 2016
 
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profits

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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Oil refiners' "mini golden era" will end soon: IEA

A brief period of high profitability for the world's oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said.   Weak crude oil and relatively high prices

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Marka expects to turn profitable next year

Dubai's Marka, a retail and restaurant start-up that listed on the emirate's bourse last year, expects to turn profitable in 2016, a company official said on Tuesday, pushing back the timeline given earlier. In January, Ma

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Trust Re Q1 net profit up 10pc to hit $8.7m

Trust Re, a reinsurance company based in Bahrain, reported profits of $ 8.7 million during the first quarter (Q1) of the year, up 10.1 per cent year-on-year from $ 7.9 million achieved in Q1 2014. Gross Written Premium reached $20

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