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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.
  • Apple fix for Pegasus breach

    Researchers found the problem while analysing a Saudi activist's phone

    Researchers found the problem while analysing a Saudi activist's phone

    Hours after releasing the fix, Apple said it had "rapidly" developed the update

  • $250bn GCC rail project on track after hiccups

    The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions...

    Once the project is completed in the GCC, the developers plan to link the railway line with the ones in Jordan, Syria and Turkey and connect to Europe from thereon.

    GCC Railway project not only benefits the six countries economically but attracts investments, both local and foreign

  • Space tourism: What’s on offer for those who can pay?

    The era of space tourism comes with many options: a few minutes of weightlessness, or a few days or a...

    SpaceX's INSPIRATION4 set this week is the first orbital mission involving four non-professional astronauts.

    A trip in a module of Space Perspective, hoisted by a space balloon the size of a football stadium costs $125,000.

  • UAE to tighten the screws on money laundering

    Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on...

    The guidance serves as a key point of reference for licensed financial institutions to ensure their compliance with anti-money laundering

    The guidance, which comes into effect today, requires LFIs to demonstrate compliance with CBUAE’s requirements within one month

  • Boursa Kuwait suspends 10 companies from trading

    The reasons behind the penalty included not declaring quarterly financials, and not paying their annual subscription fees.

    Boursa Kuwait listed seven reasons why the companies had been suspended from trading

    Some companies have been penalized for multiple reasons

  • Apicorp to allot $1bn for green energy

    The bank will make the investment over the next two years.

    Currently, green assets comprise more than 13 percent of the bank’s overall portfolio

    This is equal to around $550 million in loans and direct investments

  • Sohar Int’l raises Tier 1 capital by $130m

    The Omani bank's new rights issue has been fully subscribed.

    Issuance fully subscribed, drew interest from HNWIs, retail investors, corporates

    “Such overwhelming participation demonstrates the robust capabilities of Sohar International in terms of attracting capital to advance its strategic agenda"

  • Bahrain’s value of indigenous exports rises 103%

    The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to...

    Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD77 million (around $205 million) from Bahrain

    The United States was second with BD62 million (around $165 million) and the United Arab Emirates third with BD53 million (around $141 million)

  • Hedge funds in Middle East post gains, after a full dull year

    Hedge funds in Middle East are abuzz with excitement, posting double digit gains in August this year, after a weak...

    Yields for August alone were at 2.27 percent, higher than the global average.

    Year-to-date returns for funds focused on region averaged 17.64%

  • First commercial flight lands in Kabul after Taliban takeover

    An international commercial flight touched down in the Afghan capital on Monday, the first since the Taliban retook power last...

    ‘There was hardly anyone on the plane, around 10 people... maybe more staff than passengers’

    Qatar Airways operated several charter flights out of Kabul last week

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