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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.

Hotels in Riyadh earn best rates in three months as travelers fill up rooms

    • Arab News quoted the research company on Monday that Occupancy stood at 42.8%

    • The growth is due to easing of travel restrictions and return of international flights

    Owing to the easing of travel restrictions and return of international flights to the city, Riyadh’s hotel industry is showing signs of cheer as it reports highest room rates in three months, according to preliminary May 2021 data from STR.

    Arab News quoted the research company on Monday that Occupancy stood at 42.8 percent while the average daily rate was SR544.31 ($145). Revenue per available room, a key industry metric known as RevPAR, was SR332.85.

    “Each of the three key performance metrics were up from April, but despite the month-over-month increase, occupancy and RevPAR came in lower than earlier pandemic-affected months,” STR said. 

    “Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020.”

    The Kingdom had only just started to open up to international tourists when the pandemic closed hotels and resorts. The recent easing of travel restrictions and the return of international flights has lifted prospects for the sector.