ABU DHABI: First Abu Dhabi Bank (FAB), the United Arab Emirates’ largest lender, reported on Wednesday a 24% rise in nine-month net profit, driven by higher revenue across its businesses and lower impairment charges, putting it on track to meet its full-year guidance. Net profit after tax for the first nine months of 2025 reached…
Barclays lifts profit target, kicks off early $639 million share buyback
LONDON: Barclays BARC.L raised its key profit target and announced a fresh 500 million pound ($639 million) share buyback on Wednesday, citing strong performance and cost savings delivered ahead of plan, despite setting aside more money for a UK motor finance probe. The British bank now expects to deliver a return on tangible equity (RoTE)…
GE Vernova to acquire remaining 50% stake of Prolec GE
CAMBRIDGE: GE Vernova Inc. (NYSE: GEV) will acquire the remaining 50% stake of Prolec GE, its unconsolidated joint venture with Xignux, further positioning GE Vernova as a global leader serving growing grid markets. The deal will accelerate GE Vernova’s Electrification segment’s growth trajectory, the company’s fastest-growing segment, by expanding its presence in and support for…
U.S. talent gap widens as H-1B lottery and heightened enforcement squeeze employers
WASHINGTON: A perfect storm of a severe skilled-worker shortage, restrictive immigration caps, and newly aggressive government enforcement is forcing U.S. companies to treat global talent recruitment as a primary strategic concern, rather than a peripheral administrative task, industry executives and data show. Immigration Service Issues Guidance On Who Pays The $100,000 H-1B Fee The scale…
OVHcloud breaks €1 billion revenue mark; Founder Klaba takes helm
PARIS: European cloud computing services provider OVHcloud reported on Tuesday full-year revenue that broke through the symbolic one-billion-euro barrier, with its core profit margin exceeding 40%, and announced the appointment of its founder Octave Klaba as Chairman and Chief Executive Officer. The French company said the governance change was made to “align vision, strategy, and…
Eurofins reports 5.3% revenue growth in 9M 2025 to €5.4bn; Reaffirms FY targets despite headwinds
PARIS: Eurofins Scientific (Paris:ERF) reported a 5.3% year-on-year increase in revenues to €5.415 billion for the first nine months of 2025, driven by organic growth and acquisitions, despite a -1.5% foreign exchange headwind and one fewer public working day compared to the same period last year. Organic revenue growth reached 4.0%, adjusted for calendar effects,…
DYWIDAG to sell France’s TAM Groupe to Private Assets SE & Co.
MUNICH: DYWIDAG Systems International (DYWIDAG) has agreed to sell 100% of its shares in TAM Groupe, a French construction products maker, to German investment firm Private Assets SE & Co. KGaA, the companies said on Tuesday. The transaction, which is subject to closing conditions, is expected to be completed by early December 2025. TAM Groupe is…
TotalEnergies sells its GreenFlex affiliate to the French Group Oteis
PARIS: TotalEnergies and the independent French consulting and engineering group Oteis have signed a deal for the sale of TotalEnergies’ sustainable consultancy and solutions affiliate GreenFlex to Oteis, a divestment that reflects TotalEnergies’ strategy to concentrate its activities on energy production and supply. With over 800 employees and some thirty agencies in France and the…
Racing Force Group Q3 sales accelerate on strong demand for driver gear
PARIS: Racing Force Group (RFG.MI) reported a sharp acceleration in third-quarter 2025 revenue growth on Tuesday, driven by robust demand for its driver equipment and new helmet models, prompting the motorsport safety specialist to reaffirm its positive outlook. The Italy-based company, which develops and markets safety components for motorsports, said consolidated revenues for the third…
GEO Exploration acquires high-grade gold licence in Western Australia
PERTH: GEO Exploration Ltd. (AIM: GEO) has acquired a 100% interest in the Gorge Project (E08/3737), a highly prospective gold exploration licence in Western Australia, through its wholly owned subsidiary Gorge Gold Pty Ltd. The 81-square-kilometer licence, located 110 kilometers west of Paraburdoo in the Capricorn Orogen, hosts Proterozoic metasediments with historical gold mineralisation identified…
AB Dynamics appoints Sarah Matthews-DeMers as Group Chief Executive Officer
LONDON: AB Dynamics plc announced the appointment of Sarah Matthews-DeMers as Group Chief Executive Officer. Sarah is the current Chief Financial Officer and will take up her new role from 1 December 2025. Sarah has been an instrumental part of the leadership team that has transformed the Group over the last six years. Following a…
Hostelworld Group has acquired OccasionGenius Inc for $12 million
LONDON: Hostelworld Group has acquired the entire issued share capital of OccasionGenius Inc., a US-based B2B event discovery platform, for a total cash consideration of $12.0 million. OccasionGenius empowers businesses to inspire their audiences with a global event dataset delivered via API, comprising a rich, city-by-city catalogue of local ‘Things to Do’ and a unique…