Friday 26 August 2016
 
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profits

Lufthansa targets profit growth as strong start cushions slump

Deutsche Lufthansa stuck to its forecast for higher earnings this year as a strong start to 2016 will help the German carrier offset a series of headwinds to travel demand, said a report. “The guidance remains what it is,&rd

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Mideast airlines' profits to surge 14pc

Middle East carriers are expected to post a combined $1.6 billion profit in 2016, a record jump of over 14 per cent compared to the $1.4 billion reported for 2015. According to data released by International Air Transport Associat

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Boeing aims to increase revenue, profits

Boeing Company's top executives laid out an ambitious, five-year strategy on Wednesday to increase revenue and profits and secure the company's future for the next 100 years, promising to boost efficiency, return free cash to shareholder

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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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