Saturday 30 July 2016

Sony logs 42pc plunge in Q1 operating profit

Japan's Sony Corp on Friday said operating profit fell in its first quarter by 42 per cent, less than analysts had estimated, as the electronics maker trimmed the impact of earthquake damage to one of its image sensor factories. Profit reached 56.2 billion yen ($542.7 million


VW eyes higher 2016 car sales on China, Europe demand

Volkswagen this year expects to increase group vehicle sales slightly beyond the 9.93 million cars it delivered in 2015, sales chief Fred Kappler said. Strong demand in China, Volkswagen's (VW) largest market, and Western Europe may drive sales beyond last year's total, K


Raytheon revenue tops estimates as smart bomb sales rise

Raytheon Co, the maker of Patriot missile systems, reported higher-than-expected quarterly revenue as sales of its Paveway smart bombs increased. The Waltham, Massachusetts-based company's shares rose 2.4 per cent to $138.60 in premarket trading on Thursday. Ra


Muna Noor opens new centre in Salalah

Muna Noor, a leading plastic pipe manufacturer and one of Oman’s oldest companies, has opened the first of its new style Pipe and Valves Centres in Salalah, Oman. The new interior and exterior represents a number of initiatives for the company, through a bright and open env


Sanofi sales and profit slide on US pricing

French drugmaker Sanofi's sales and profit fell in the second quarter despite double-digit growth at biotech arm Genzyme, as the diabetes division continued to come under sustained US pricing pressure. Business net income fell 3.3 per cent to €1.68 billion ($1.86 billion


SR Technics completes cabin modification for SAS

SR Technics, a leading global MRO service provider, has announced the successful delivery of the cabin modification project of 12 wide-body aircraft for its partner Scandinavian Airlines (SAS). In late 2014, SR Technics teamed with SAS to enhance the cabin experience of SAS&rsquo


Damen Shipyards launches latest concept design

Damen Shipyards Group has announced its latest concept design – the Damen Decommissioning Series – based on an in-house research carried out by one of its undergraduate interns. The vessel will specialise in three core areas of the oil and gas decommissioning sector:


Al Salem Johnson Controls provides top solutions

Al Salem Johnson Controls, a leading provider of integrated heating, ventilation and air-conditioning (HVAC) solutions and equipment, has highlighted its ability to provide best solutions to customers in power emergency situations. The company said it provides solutions when a ch


Bahri Q2 net profit rises 47.2pc

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 per cent increase in second-quarter net profit. The company's net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342.48 millio


Sabic costs shrink but lower sales weigh: acting CEO

The acting chief executive of Saudi Basic Industries Corp (Sabic) said on Thursday that its costs in the second quarter of 2016 dropped by 18 per cent from the first three months of the year. Yousef Abdullah al-Benyan told a news conference that the firm, one of the world's l

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