Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...Business Geostrategy
Japan to restart funding to UN Palestinian refugee agency
Tokyo, Japan--Japan is preparing to resume funding to the UN's crisis-hit Palestinian refugee agency (UNRWA), which coordinates nearly all aid...Business
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...Aramco and JV partners NORINCO Group and Panjin Xincheng Industrial Group have a mega Saudi-Chinese petrochemical project in Liaoning Province.
The project is a 300,000 barrels per day refinery and a petrochemical complex with an annual production capacity of 1.65 million metric tons.
Bupa Arabia’s 9M 2023 up 27%
The third quarter net profit fell 23% compared to the Q3 2022.Compared to the second quarter of 2023, the insurer's Q3 2023 declined 25.9 percent from SAR 371.35 million.
Insurance service result grew 41.02 percent year-on-year (YoY), or by SAR 232.01 million, driven by higher insurance revenue.
Ooredoo net profit up
Its revenue rose to US$4.72bn in the first 9 months of 2023.The company posted a 28 percent rise in net profit to $741 million, compared to $576 million last year
It made strategic investments in Oman, Iraq, Tunisia and Maldives to drive growth in these markets
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.
Burjeel Holdings profit surges
Its revenue spiked to US$898m in the first 9 months of 2023.The company posted a162.6 percent increase to $37.30 million during the third quarter of 2023
It plans to set up two medical centres in Dubai and Abu Dhabi and one Burjeel Day Surgery Centre in Al Dhafra
Samsung Q3 profit down 77.57%
The company's third-quarter profit was well above the first quarter's 640 billion.Samsung announced third-quarter operating profits of "2.4 trillion won ($1.7 billion) based on strong sales of flagship models in mobile and strong demand for displays"
The company said net profit dropped 37.7 percent year-on-year to 5.8 trillion won -- though it represents a rebound from the second quarter's 1.7 trillion won
Stocks mixed, oil subdued as traders eye Mideast and central banks
There is a sense of relief on trading floors that the Israel-Hamas conflict has been contained so far, with optimism...With worries about supplies from the crude-rich Middle East subsiding for now, both main oil contracts edged up slightly Tuesday
Data showing China's factory sector activity shrank in October weighed on sentiment, dragging on Hong Kong and Shanghai
EITC Q3 profit soars 57.7%
Its revenues grew 3.7% to US$896 million in the quarter.The company posted a 57.7% jump in net profit to $137.23m, its highest quarterly level over the last three years
The company has been pushing further the deployment of 5G network which reached 98.5% coverage
Politics in fashion: Luxury brands react to Gaza crisis
From L'Oréal's controversy involving model Amena Khan to Chanel's significant financial pledge, the fashion industry is deeply entwined in political...From L'Oréal's controversy involving model Amena Khan to Chanel's significant financial pledge, the fashion industry is deeply entwined in political discourse amid Gaza crisis.
As luxury brands navigate the delicate balance amid the ongoing Israel-Hamas conflict, the role of social media influencers and corporate philanthropy comes to the forefront.
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.
