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stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

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.

Blackstone looks to buyout Dubai-based VFS Global for $1.2bn

  • The due diligence process for the acquisition is complete
  • VFS Global is a spinoff of Swiss travel group Kuoni. It is 90 percent owned by Swedish private equity firm EQT and 10 percent by the Kuoni Foundation

Blackstone, the US-based alternative investment management company, is in discussion with VFS Global, the Dubai-based visa outsourcing company, to buy it out for $1.2 billion.

VFS Global is a spinoff of Swiss travel group Kuoni. It is 90 percent owned by Swedish private equity firm EQT and 10 percent by the Kuoni Foundation, Hugentobler Foundation and founder CEO Zubin Karkaria.

The due diligence process for the acquisition is complete and the legal documentation is expected in the coming weeks, the report said.

VFS began as a visa application services company for the US embassy in India in 2001. Since then, it has expanded to 143 countries across five continents.