billion – Muhasebe News

Alphabet makes $39.27 billion profit

MuhasebeNews — Wed, 06 Feb 2019 11:18:45 +0000

Google’s parent company made $39.27 billion profit in the last three months of 2018.

Shares prices soared despite the significant increase in the company’s profit.

Alphabet earned 22% more revenue in 2018 compared to the same period the year before.

The company stated on Monday that it made $8.9 billion profit.

Company’s profit in 2018 increased by 20% in the US while it went up by 29% in Europe, the Middle East, and Africa with the strengthening of euro and pound.

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IMF lends $2 billion more to Egypt

MuhasebeNews — Tue, 05 Feb 2019 12:16:57 +0000

International Monetary Fund (IMF) announced on Monday that it would lend Egypt an additional $2 billion within the scope of the 3-year loan programme.

IMF has landed $10 billion to Egypt since 2016.

The programme started in 2016 in five tranches after Egypt agreed to make economic reforms including the introduction of a value-added tax.

Saudi Arabia plans on $427 billion investment

MuhasebeNews — Mon, 28 Jan 2019 13:30:27 +0000

Saudi Arabia wants to make billions of dollars worth investments with the help of the private sector.

These investments mainly focus on manufacturing, mining, energy and transportation sectors, according to the Saudi Press Agency.

Country’s Energy Minister Khalid Al Falih is going to announce the projects worth $18.6 billion today, said Reuters.

Some other projects worth $50 billion on the military, chemicals and small businesses sectors will be announced later.

The Kingdom wishes to attract domestic and foreign investments worth $427 billion.

Projects on new airports and railways are also on the agenda of the government.

Saudi Arabia aims to switch the economy of the country from the oil sector to different ones by 2030.

Another goal of the Kingdom is to raise the private sector’s contribution to GDP from 40% to 65%.