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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.
  • Somalia to get US$4.5bn in debt relief from creditors: IMF

    The IMF said the debt relief will facilitate access to additional financial resources that will help it strengthen economy, reduce...

    Its external debt has fallen from 64% of GDP in 2018 to less than six percent of GDP by the end of 2023

    The IMF said that Somalia has implemented a poverty reduction strategy for at least a year

  • ADX signs MoU with SZSE

    The agreement will bolster cross-border ETF cooperation.

    ADX is looking to enhance ties with with leading global financial institutions, including the recent agreement with the New York Stock Exchange

    The agreement between the two bourses is set to provide a robust platform for financial growth and connectivity between the UAE and China

  • Andalusia Labs secures $48m funding

    The company deals in risk management infrastructure for digital assets.

    Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital

    Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry

  • GCC media outlets think outside the box to stay afloat

    Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche"...

    Many believe news media outlets have been distracted from their role to safeguard space for informed debate on public issues

    Several well trusted media outlets with deep pockets are battling against thinning revenues and being forced to think differently

  • OpenAI to pay Axel Springer to use journalism in ChatGPT

    Berlin, Germany -- Axel Springer said Wednesday it was partnering up with the maker of ChatGPT, OpenAI, which will pay the...

    The chatbot's answers would include material otherwise kept behind a pay-wall and offer "links to the full articles for transparency and further information," they said.

    Axel Springer CEO Matthias Doepfner has previously warned that AI threatened to "replace" journalism, while the group has been pursuing its own AI-driven ventures.

  • Qatar records real estate transactions worth $400 million in Nov

    Doha, Qatar -- Qatar reported a total of 321 real estate transactions worth QR 1.46 billion ($400 million) in November...

    Top-performing municipalities in financial value included Doha, Al Rayyan, and Al Dhaayen. Doha led with transactions worth QR 603 million.

    Mortgage transactions totaled 88, amounting to QR 3.19 billion. Al Rayyan dominated with 38 transactions, followed by Doha with 25.

  • Saudi investors witness 40% fall in US equities trading in Q3 2023

    Riyadh, Saudi Arabia -- In the third quarter of 2023, Saudi investors engaged in sell and buy transactions on US...

    This reflects a substantial year-on-year (YoY) fall of SAR 9.15 billion, equivalent to a 40 percent decrease.

    According to a report from the Capital Market Authority (CMA), this decline in trading activity by Saudi investors represents the lowest point since Q4 2019.

  • G42’s split from China could spur other GCC firms to follow suit

    Dubai, UAE - With the UAE-based G42's decision to align with US directives by severing ties with Chinese tech partners...

    The G42’s move follows concerns raised by US national security personnel regarding potential espionage risks from Chinese firms

    The ripple effect of G42's decision could extend to other tech companies in the Gulf Cooperation Council (GCC) region

  • China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference

    Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...

    Over 60 MoUs and agreements worth over $25 billion were signed at the China-Saudi Investment Conference

    Agreements were signed in key sectors including energy, agriculture, tourism, mining, financial services, etc

  • Nasdaq Dubai lists Philippines ‘ROP Sukuk Trust’ worth US$1bn

    Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the...

    By listing sukuk on Nasdaq Dubai, the Philippines government intends to deepen its partnership with the GCC region

    The emirate of Dubai is recognised as one of the world's largest centres for sukuk issuances, with a total of US$87.61 billion