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- e& Achieves 6% Revenue Growth in H1 2024, Net Profit Hits $1.5 Billion 🚀
e& Achieves 6% Revenue Growth in H1 2024, Net Profit Hits $1.5 Billion 🚀
Augustus Media FZ LLC
August 01, 2024
Marhaba folks! 🌞
In today's edition, we dive into e&'s impressive H1 2024 revenue growth, Air France and Lufthansa's flight cancellations to Beirut amid escalating tensions, and Elon Musk's latest praise for Dubai. Plus, we'll touch on the recent surge in oil prices due to geopolitical turmoil. Yalla, let’s go 🏃🏻♀️
📈 e& Reports Impressive 6% Revenue Growth in H1 2024, Net Profit Surges to AED 5.5 Billion
What is it about: e& reported a robust performance for the first half of 2024, with consolidated revenues climbing to AED 28.3 billion. The telecom giant's net profit surged by 17%, reaching AED 5.5 billion, fueled by strategic growth and innovation.
Why does it matter: The group's success is marked by an expanding subscriber base, now totaling 175 million globally, and strategic acquisitions and partnerships that have bolstered its position as a global technology leader.
What is next: e& aims to continue its growth trajectory by focusing on digital businesses and expanding its global footprint, covering 32 markets. The company remains committed to empowering people, businesses, and communities through technology.
📈 Markets
🔼 EGX 30 | 29,359.87 | -0.06% |
🔼 DFMSI | 2,502.93 | +0.32% |
🔼 ADX | 9,366.58 | +0.296% |
🔽 Tadawul | 12,045.78 | -0.53% |
🚫 Air France and Lufthansa Cancel Beirut Flights as Tensions Escalate
Airport
What is it about: Israel's retaliation plans following a rocket attack from Lebanon have led to heightened security concerns, prompting Air France, Transavia France, and Lufthansa to suspend flights to Beirut.
Why does it matter: The cancellations disrupt travel plans and highlight the ongoing instability in the region. Travelers like Syrian-German Nisreen al-Hussein are facing difficulties finding alternative flights amid the chaos.
What is next: Travelers should stay updated on the situation and explore alternative routes as airlines reassess the safety of resuming flights to Beirut.
Quote of the day
"Success is not final, failure is not fatal: It is the courage to continue that counts." – Winston Churchill 🌸
📈 Oil Prices Surge Amid Geopolitical Tensions Following Death of Hamas Leader
What is it about: Oil prices rose significantly after the killing of Hamas leader Ismail Haniyeh in Tehran, with Brent crude up 1.39% and West Texas Intermediate climbing 1.63%.
Why does it matter: The incident has raised concerns about a broader regional conflict, impacting global oil markets. Additionally, the American Petroleum Institute reported a significant decline in crude inventories, contributing to the price rise.
What is next: Markets will continue to monitor geopolitical developments and inventory reports, which will influence oil price trends in the near term.
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