Egypt
Egypt's United Bank to list on Cairo stock exchange on Oct. 24
State-owned United Bank will list on the Egyptian stock exchange on Thursday, the bourse said on Wednesday, a further step towards a rare privatisation of an Egyptian lender.
Qatar Airways posted a 39% jump in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion) on Tuesday.
Badr Mohammed Al-Meer
Qatar Airways posted a 39% jump in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion) on Tuesday.
Revenue grew by 6% to 81 billion riyals in the year ended March 31, the government-owned airline said.
It carried more than 40 million passengers and recorded a load factor of 83%.
"Our continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline", CEO Badr Mohammed Al-Meer was quoted as saying in a statement from the airline.
Demand for air travel has rebounded since the pandemic, but airlines have been constrained as planemakers struggle to get back to previous production levels due to disrupted supply chains and a safety crisis at Boeing.
In May, Al-Meer said aircraft manufacturers like Airbus and Boeing needed to put more pressure on their suppliers to reduce delivery delays.
The airline last month announced it was in talks with the two planemakers regarding a major wide-body order.
The carrier is also in talks to buy a stake of up to 20% in Bain Capital-owned Virgin Australia, according to a report last week.
($1 = 3.6445 Qatar riyals)
Reporting by Federico Maccioni
State-owned United Bank will list on the Egyptian stock exchange on Thursday, the bourse said on Wednesday, a further step towards a rare privatisation of an Egyptian lender.
German Chancellor Olaf Scholz will host Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, at a baroque palace just north of Berlin on Tuesday for talks aimed at deepening economic and diplomatic ties.
Lulu Retail Holdings, which runs one of the Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year.
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