FAB delivers strong results in 2024 with profit before tax of AED 19.9 billion, up 13% yoy
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
BP rebounds with $4.9bn Q3 profit
The oil giant had posted a net loss of $2.2bn the previous year.However, underlying replacement cost profit excluding exceptional items more than halved to $3.3 billion.
"This has been a solid quarter supported by strong underlying operational performance demonstrating our continued focus on delivery," said BP's official
Dubai records realty deals worth $116 billion in nine months
Dubai, UAE -- Dubai recorded 116,116 real estate transactions worth AED 429.67 billion ($116.98 billion) during the first nine months...The transactions marked a 36.7 percent in value and 33.8 percent in the number of transactions compared to the same period in 2022.
A total of 81,669 investors registered 109,186 real estate investments worth AED 278.7 billion, a growth of 50.3 percent in value.
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...Trade between the UAE and Canada, worth US$4.1 billion in 2022, surpassed the 2021 figure of US$3.4 billion (AED12.7 billion).
Bilateral trade to the tune of US$1.8 billion in H1 2023 (January to June) exceeded the US$1.7 billion worth of trade in H1 2022.
Firms listed on Qatar Stock Exchange post 9M profit of $10.27bn
Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27...According to figures published on QSE website on Tuesday, Industrials declined by 40.90 period with QR 7.005 billion in net profit to top the declining sectors.
Net profit of Insurance was the highest with QR 853.744 million, a rise by 334.92 percent, followed by Telecoms which achieved an increase of 26.42 percent.
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
