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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.

  • Dubai Investments acquires 7.68% more stake in Monument Bank

    Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...

    This increases the Group’s holding in the Bank from 9.25 to 16.93 percent, although the investment is subject to necessary regulatory approvals

    The Monument Bank is a UK Based Digital Bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority

  • Rabigh 9M net loss $879m

    The firm said unfavorable market conditions affected margins.

    In addition, Petro Rabigh complex was partially shut down for scheduled turnaround of its Phase II units starting Dec. 1, 2022, to Jan. 23, 2023, according to Argaam.

    The company narrowed Q3 2023 loss to SAR 1.14 billion from SAR 1.41 billion a year earlier, mainly due to improved refined products margin

  • Zain posts highest-ever quarterly revenue

    Tower infrastructure sale among factors responsible for the performance.

    The Q3 report also reveals a net profit of SAR 285 million, showcasing a growth of 234 percent compared to the corresponding period in 2022.

    The company said it has not only experienced growth in 5G revenue but also witnessed increased demand for consumer services.

  • IHC 9M net profit $4.13bn

    The Group's third-quarter revenues grew by 9.5 percent.

    In Q3 2023, IHC grew its total assets by 3.3 percent and reduced total liabilities by 1.3 percent (compared to December 2022).

    The Group intends to remain focused on optimizing its balance sheet and improving shareholder returns, IHC said in a statement.

  • Bayer to cut management jobs

    The company recently reported a net loss of US$4.9bn in Q3.

    The chief executive Bill Anderson said in a statement that the company was not happy with "this year's performance"

    Bayer said it plans to remove "multiple layers of management and coordination" by the end of the year

  • Amanat net profit up 73%

    The company posted a 44 percent growth in revenues for 9M-period.

    Revenu growth was driven by strong performance at the Education platform up more than two times, boosted by contribution from the recently acquired Human Development Company.

    Amanat reported an increase in EBITDA by 65 percent year-on-year to AED173.7 million in 9M 2023, on track to significantly exceed the AED188 million recorded in full year 2022.

  • SEC reports $1.55bn Q3 profit

    The company attributes the growth to surge in demand.

    Operating revenues went up to $15.19 billion, marking a 2.2% increase compared to the same period in the previous year

    The company attributed the revenue growth primarily to a surge in demand for electrical energy during the summer season

  • UAE a key market for our businesses due to its location: French official

    Dubai, UAE-- The UAE is a key market for French businesses due to its strategic location as a hub and...

    The French official said that his country's exports to the UAE exceed $5.13 billion, while UAE imports from France exceed $2.67 billion

    He said French exhibitors are looking to establish new partnerships, sign agreements, with specialized entities in the field of food industries

  • Are neobanks challenging traditional players in UAE?

    While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...

    While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future of banking in the region, says a report.

    In the UAE, neobanks struggle with funding over trust issues in the absence of deposit insurance, while the CBUAE supports their growth, ensuring traditional banking stability.

  • UAE Islamic Treasury Sukuks auction is a tremendous success

    ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...

    The fifth auction of the UAE T-Sukuks program witnessed strong demand through with bids received worth US$1.57 billion.

    The success is reflected in the market-driven prices, which was achieved by a spread of 4 to 11 bps over US Treasuries with similar maturities.