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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.
  • Investment in agritech key to UAE’s food security

    Investing in agricultural technologies can take the UAE closer to its goal of being one of the top 10 countries...

    Over 100 entities use organic farming techniques in the UAE, including advanced farms that utilize modern agricultural technologies.

    The Abu Dhabi Investment Office is investing at least US$100m in agritech startups as part of their food security strategy.

  • Asian markets stabilize but Evergrande fears linger

    The battle in Washington to raise the US debt limit was also fuelling concern that the government could miss payments...

    Dubai led declines among stock markets in the Gulf on Monday, as its main share index fell 1.2 percent.

    Hong Kong's Hang Seng Index, which plunged more than three percent Monday, edged up 0.2 percent.

  • Covid-19 drives e-learning in GCC

    There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts...

    There has been a massive growth in content creation and learners' demand in last two years

    E-learning is highly dependent on digital infrastructures, such as Internet usage and connection fees, which vary dramatically from one Arab country to another

  • Dubai Chamber adds 16,000 new members this year

    Some 16,000 new companies have joined Dubai Chamber this year, bringing the total membership to more than 275,000.

    The membership growth is also a result of the various business-friendly measures and incentives introduced by the government in recent years

    The number of ATA Carnets issued by the Chamber and received by the country, increased 5.1 percent over the same period, reaching 2,188 in the first eight months of 2021

  • Foreigners in Kuwait on commercial visit to get work permit now

    The move is aimed at meeting growing demand for manpower by companies in the country. After all, the number of...

    Thousands of expats left Kuwait this year and have been unable to return due to the pandemic

    This move is expected to offset that talent drain and attract more such talent into the country

  • Evergrande’s crash crunch stumps investors and homeowners alike

    The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand...

    The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities

    But it is now smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices

  • Kuwait starts 100,000 bpd oil-gathering center

    Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.

    A gathering center is a facility that collects oil from a field to be transferred usually by pipelines

    This gathering center is formally referred to as GC-31 and is located in in northern Kuwait

  • Amazon to hire 1,500 people in UAE as it expands business

    Amazon, the US e-commerce giant, has announced that it would add 1,500 jobs in the United Arab Emirates to cope...

    The jobs, according to the company, will be created as it expands its fulfillment center storage capacity by 60 percent

    This expansion is expected to create additional jobs through its sellers and delivery partners

  • Oman tax authority to fine VAT non-filers

    Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them.

    The standard rate of VAT in Oman is 5 percent

    It is among the lowest in the world

  • Top Saudi banks see increase in deposits and financing in Q2

    Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According...

    The outlook for cost of risk remains relatively stable, says Alvarez & Marsal

    L&A and deposit growth was supported by the merger of NCB and SAMBA to form Saudi National Bank

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