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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Saudi GACA issues air carrier, airport classifications for December 2023

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
  • Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.
  • SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.

Dubai posts real estate transactions worth $3.5bn in week ending January 19

DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...
  • The sum of transactions was 3,697 and 184 plots were sold for US$547 million.
  • 2,770 apartments and villas were sold for US$2 billion (AED 7.46 billion).

Palestinians count cost of Israel’s West Bank raid

Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
  • Mourners threw flowers over those killed and masked gunmen fired in the air as the funeral procession made its way through Tulkarem refugee camp..
  • Israel's military said they searched around 1,000 buildings around Tulkarem and interrogated hundreds of people, arresting dozens of them.

Qatar real estate trading volume reaches US$91m between January 7-11

DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
  • Total sales contracts for residential units in the Real Estate Bulletin from January 7 to January 11 were US$15 million.
  • The volume of real estate trading in sales contracts from December 31, 2023 to January 4, 2024, exceeded US$222 million.

Emirates to recruit 5,000 crew members in 2024

DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...
  • The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
  • It is inviting individuals keen to embark on an exciting career travelling the globe. .

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.
  • The customer deposits increased from US$3.3 billion in 2022 to US$3.4 billion in 2023.
  • The capital adequacy ratio increased from 14.4 percent in 2022 to 15.2 percent in 2023.

EU worried Red Sea attacks could spark inflation

European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
  • Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
  • Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.

Mammoet, Aertssen sign agreement

The two firms will provide heavy-lifting solutions in Qatar.
  • Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
  • The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.

PureHealth buys Circle Health

The deal signifies PureHealth’s operational capabilities.
  • The completion of this transaction further strengthens PureHealth’s commitment to becoming a leading global player in healthcare.
  • The company’s expansion into the UK healthcare market reflects its focus on advancing the science of longevity and unlocking time for humanity.

Several MoUs signed at Future Minerals Forum in Saudi Arabia

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
  • The Ministry of Industry and Mineral Resources and the Japan Organization for Metals and Energy Security signed an agreement.
  • The first day of the forum also saw the announcement of unexplored mineral estimates, rising from $1.3 trillion to $2.5 trillion.

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

Latest News

GCC tourism’s contribution to GDP expected to surge by 2030: Fitch

GCC tourism's GDP contribution will rise from $130 billion in 2023 to over $340 billion by 2030, driven by aviation...

Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes

Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...

UK’s Labor Party wins enough seats to form majority government

The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...

Most Read

Killer heat wave sweeps the globe, hundreds perish

A punishing heat dome continues to intensify over the northeastern United States, scores of record-high temperatures were matched or broken...
  • About 75 million Americans live in a location under an excessive heat warning or advisory
  • Latest reports say some 900 people died in Saudi Arabia, where temperatures reached 51°C

Chinese electric car company Nio to enter UAE this year

Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
  • Nio, which recently received funding from Middle East-based investors, saw record-high deliveries of 20,544 vehicles in May
  • Rival BYD  has also made the UAE its entry point to the Middle East

Saudi Arabia launches ‘National Semiconductor Hub’ 

At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
  • To be supported by deep tech venture capital fund that exceeds $266 million
  • Hub is a strategic effort to establish a semiconductor design industry ecosystem in Saudi worth SR50 billion