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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Three UAE lenders among top five GCC banks

By Hilal Mir
June 21, 2023 7:08 pm
  • In 2022, the UAE's banking sector had assets of over $1.5 trillion, and Saudi Arabia's banking sector had assets of over $1 trillion.
  • The UAE and Saudi Arabia dominate the Gulf Cooperation Council banking sector as both have large and growing domestic markets.

Dubai, UAE — The United Arab Emirates (UAE) and Saudi Arabia dominate the Gulf Cooperation Council (GCC) banking sector as both have large and growing domestic markets, which provides a strong base for their banking sectors. Both countries attract a high level of foreign investment, which provides capital for their banking sectors. The UAE is the second-largest recipient of foreign direct investment (FDI) in the Middle East, and Saudi Arabia is the largest recipient of FDI in the Middle East. In 2022, the UAE’s banking sector had assets of over $1.5 trillion, and Saudi Arabia’s banking sector had assets of over $1 trillion. Here is a look at top 10 GCC banks by Market Cap and the top 10 Islamic banks in the region:

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