by Amruth Sundarkumar | Sep 21, 2022 | Corporates, Global
Dubai’s DP World has won a ruling in a Hong Kong court against China Merchants Port Holdings regarding rights and concessions related to Djibouti’s container port. With the above ruling, DP World can now move to a full hearing against China Merchants Port...
by Amruth Sundarkumar | Aug 19, 2022 | Corporates, Global
Dubai’s DP World reported net profits of $884mn, a 51% YoY jump in 1H 2022 on stronger revenue growth and focus on high-margin cargo. Revenues grew 60% YoY to $7.9bn on the back of acquisitions and strong performance of feedering services (transshipment of goods from...
by Amruth Sundarkumar | Aug 2, 2022 | Corporates, Global
US-based offshore drilling company Transocean reported a reduction in net loss for the June quarter to $68mn vs. a net loss of $103mn in the previous year. Total contract drilling revenues rose 5.5% YoY to $692mn, and revenue efficiency was 97.8% against 94.9% in Q1....
by Amruth Sundarkumar | Aug 1, 2022 | Banks, Global
Credit Suisse’s legal turmoil continues as billionaire client and ex-Georgia PM Bidzina Ivanishvili sued one of its subsidiaries, Credit Suisse Trust Ltd. (Singapore) for $800mn. Prior to this, Ivanishli had successfully claimed against another of the bank’s...
by Amruth Sundarkumar | Jul 29, 2022 | Corporates, Global
Teva Pharmaceuticals is close to finalizing a $4.35bn nationwide settlement regarding its alleged role in the US opioid crisis, following years of negotiations. The agreement in-principle is expected in a few weeks pending a host of approvals. The settlement amount...
by Amruth Sundarkumar | Jul 28, 2022 | Banks, Global
Credit Suisse reported a CHF 1.6bn ($1.67bn) net loss for Q2 2022 compared to a net income of CHF 253mn ($263mn) in Q2 2021, its third consecutive quarter in the red. This was primarily a result of revenues declining 29% to CHF 3.6bn ($3.7bn). Breaking it down, Wealth...
