The European Union approves a minimum tax of 15% on the profits of multinational companies

The leaders of the 27 European Union countries, during a summit in Brussels on Thursday evening, approved the imposition of a minimum tax of 15% on the profits of multinational companies, in a unanimous decision after Hungary and Poland retracted their objections. This new measure is scheduled to enter into force on December 31, 2023. … Read more

Target’s Profit Sinks as Retailer Unloads Unwanted Inventory

A glut of inventory sank profit at Target Corp. further than it expected, sparking investor concerns about the company’s response to an oversupply problem haunting retailers from Walmart Inc. to the parent of T.J. Maxx. Target’s operating margin declined to 1.2% in the quarter ended July 30, the company said in its quarterly earnings report … Read more

Aramco announces the details of achieving record profits in the second quarter of 2022

Al-Marsad newspaper – SPA: The profits of the Saudi Arabian Oil Company “Saudi Aramco” in the second quarter of 2022 increased by about 90%, to 181.6 billion riyals, compared to 95.47 billion riyals in the second quarter of 2021. earnings Aramco On a quarterly basis, Aramco’s profits rose 22.7%, from 148 billion riyals in the … Read more

Saudi Aramco’s profits jump by 90.3% to 181.6 billion riyals in the second quarter of 2022 on an annual basis | Corporate News

Saudi Aramco’s net profit amounted to 181.64 billion Saudi riyals ($48.44 billion) in the second quarter of 2022, an increase of 90.26% compared to the same period in 2021, when profits amounted to 95.47 billion Saudi riyals. Revenues rose in the second quarter of 2022 to 562.07 billion Saudi riyals, after recording 312.35 billion riyals … Read more

16.1 million Kuwaiti dinars net profit for Agility in the second quarter 2022

Kuwait’s Agility, the operator and long-term investor in supply chain innovation, services and infrastructure, announced a net profit of KD 16.1 million and earnings per share of 6.35 fils in the second quarter of 2022. United Projects for Air Services Company (UPAC) achieved a 35.7% increase in revenue in the second quarter of the year … Read more

Walmart Lays Off Hundreds of Corporate Workers

Walmart is cutting hundreds of corporate roles in a restructuring effort, according to people familiar with the matter, a week after the retail giant warned of falling profits. The retailer began notifying employees in its Bentonville, Ark., headquarters and other corporate offices of the restructuring, which affects various departments including merchandising, global technology and real-estate … Read more

General Motors (GM) earnings Q2 2022

GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan. Photo by John F. Martin for GM General Motors reported second-quarter earnings that fell short of Wall Street’s estimates after the company was … Read more

Saudi Sipchem’s net profit rises 52% in the second quarter of 2022 | Corporate News

Sahara International Petrochemical Company (Sipchem) announced on Tuesday an increase in its net profit after zakat and tax by 52% to reach 1.263 billion riyals ($336.15 million) in the second quarter of 2022, compared to about 830 million riyals a year ago. The company attributed this increase in a statement to the Saudi Stock Exchange … Read more