The company's revenue grew 6.6 percent to $18.25 billion.

The annual net profit in 2022 was US$470 million.

AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to organize an economic forum in the Kingdom. This event, on April 21, aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region. The...

Ghitha reported an operating profit of $69 million in 2023.

The distribution ratio of the NAV stands at 0.10 percent.

The bank will absolve Amiantit of all its financial obligations.

The company has outlined a collective investment of $4.2b.

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.

RIYADH, SAUDI ARABIA -  Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies. Awaed Alosool unveils an innovative platform dedicated to empowering individuals in Saudi Arabia with seamless access to Sharia compliant investment in various financial instruments, including investment funds and stock markets.Awaed...

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...

In 9M, the firm's restructuring led to a turnaround.

The results underscore the firm’s robust financial performance.

DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach. Bashar Al-Natoor, Global Head of Islamic Finance and Managing Director at Fitch Ratings, expressed optimism...

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's job loss insurance scheme will not be able to renew work visas until they pay off fines, authorities said on Wednesday. The Ministry of Human Resources and Emiratization said financial...

The revenue was driven by demand for electricity, water.

The operating income of the group rose to US$234 million.

The final orderbook of the green sukuk closed at $2.6 billion.

stc's revenue was $14.5 billion in January-September 2023.

It posted a profit of $630 million in January-September 2023.

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2 billion (AED8.3 billion) strategic project to provide sustainable water supply for ADNOC's onshore operations. This strategic investment between two Abu Dhabi energy giants entails developing and operating facilities to sustainably...

ABU DHABI, UAE – Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) Hamid AlZaabi said that in H1 2023, there has been a significant improvement across the board on the issue of AML/CFT in the country. In a statement to the Emirates News Agency...

The investments are expected to localize partnerships.

NEW YORK, US - Two senior UN humanitarian officials have called for more funding and fewer bureaucratic impediments to support civilians affected by the crisis in Sudan, including roughly 14 million children. Ted Chaiban, Deputy Executive Director for Humanitarian Action and Supply Operations at the UN children’s agency (UNICEF), and...

The company’s EBITDA in H1 2023 was US$178 million.

Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.

A jump of 28 percent in net profit vis-a- -vis H1 2022.

New customers and projects were added in H1 2023.

BERLIN, GERMANY - The European Central Bank (ECB) announced on Saturday it wants to monitor the liquidity of banks in the eurozone more frequently to reduce the future risk of a financial crisis. "We decided to send banks, starting in September, a request for information on a weekly basis, in order...

Profit is a 41.5 percent jump compared to H1 2022.

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022. The report provides a comprehensive assessment of the stability of the UAE financial system, which remained resilient throughout 2022 despite global headwinds and the banking sector being well capitalized with...

BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling both governmental and private securities, according to the Prime Minister's financial advisor Mudhar Muhammad Salih. In an interview with the Iraqi News Agency (INA), Salih emphasized the center's role in...

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

DUBAI, UAE -  Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada on the region’s international financial exchange, further solidifying Dubai’s position as one of the largest Sukuk listing venues globally, with a total value of US$77 billion. To celebrate the successful...

ABU DHABI, UAE -  Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement of the UAE, signed a Memorandum of Understanding (MoU) with Paraguay’s Development Finance Agency (Agencia Financiera de Desarrollo, AFD). The signing was witnessed by José Agüero Avila, Ambassador of Paraguay to...

Paris, France – Sovereign borrowing needs are expected to increase in 2023 against the backdrop of the financial and economic spillovers of the crisis in Ukraine, as many countries forming a part of the Organization for Economic Cooperation and Development (OECD) seek to cushion households and businesses from rising prices,...

Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January 2023 to $1,020.55 billion at the end of February 2023, according to the Central Bank of the UAE's Monetary & Banking Developments for February 2023. Gross credit increased by 1.2...

BERLIN, GERMANY -  The European Central Bank (ECB) has fined US financial giant Goldman Sachs US$7.2 million (6.63 million euros) for misreporting its capital needs, it said on Monday. Goldman Sachs Bank Europe was found to have "breached credit risk reporting rules" in 2019, 2020 and 2021, the ECB said in...

President Joe Biden's administration again warned of "catastrophic" consequences for the US economy including huge job losses if the country defaults, as negotiations to forge a debt deal are expected to resume this coming week. For weeks US policymakers, bankers and the White House have warned that the country is...

The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation remained stubbornly high but that the economy would now avoid recession this year. The BoE hiked the rate by a quarter-point to 4.5 percent with UK annual inflation stuck above...

The company posted Q1 revenue of US$299 million.

ABU DHABI,  UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary dealer for UAE's Federal Treasury Sukuk Program. This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF) and aims to issue...

Its consolidated revenues rise to US$3.53bn in Q1 of 2023.

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil on bank lending, a top Federal Reserve official said. "How much further will depend on incoming data on inflation, the real economy and the tightening credit conditions," Federal Reserve governor...

Revenue grew 8.8% YoY, but fell 3.2% quarter-on-quarter.

Cairo, Egypt-- Egypt's financial inclusion has widened as total ownership of transactional accounts reached 64.8 percent of the total 65.4 million eligible adult population at the end of 2022. The financial inclusion, according to the country's central bank, increased 147 percent between 2016 and 2022 to 42.3 million citizens who...

Doha, Qatar - The Qatar Financial Centre (QFC), a leading onshore financial and business center in the region, has partnered with the International Labor Organization (ILO) in Qatar to organize a roundtable on promoting decent labor standards in the supply chain.  The roundtable featured speakers from the ILO and QFC...

CAIRO, EGYPT - Egyptian President Abdel Fattah al-Sisi met Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud at Ramadan Suhoor-meal table in Jeddah early Monday. The trip came as Egypt seeks financial support to alleviate pressure on its currency and strengthen its struggling economy. During...

FRANKFURT, GERMANY -  The European financial system is "resilient" and has sufficient liquidity, the European Central Bank said Monday, as banking shares plunged following the announcement that UBS would take over troubled rival Credit Suisse. "The European banking sector is resilient, with robust levels of capital and liquidity," the ECB said...

US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns. The central bank has been on an aggressive campaign to tame inflation, raising interest rates eight times since early last...

Cairo, Egypt - Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded thousands of investors, state media reported Sunday. The network pocketed about US$620,000 at the expense of its victims in the country now battered by an economic crisis and rapid inflation,...