Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...Business Banking & Finance
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...Business Energy Geostrategy Global
Aston Martin H1 revenue up
Revenue accelerated 25 percent to US$877 million.Losses after tax dropped to £142.6 million ($184 million) in the six months to the end of June
During the same period last year, the firm suffered a net loss of £290 million ($374.75m)
Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Kuwait posts fiscal surplus after almost a decade, says finance ministry
Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.
Kuwait records its first fiscal surplus in nine years on oil prices surge
The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry...Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.
The average price of a barrel of oil over the fiscal year stood at $97.1, an increase of 21.4 percent compared to the previous year. Output was 2.7 million barrels per day.
NBF H1 net profit up 120 percent
Fujairah, UAE -- The National Bank of Fujairah (NBF) Wednesday posted 120.7 percent increase in first half net profit to...The robust performance in Q2 2023 contributed to this growth, with NBF posting a net profit of AED 180.1 million, a 99.8 percent increase from the corresponding quarter of 2022.
The bank's operating profit for H1 2023 reached AED 785.3 million, a 28.9 percent increase from AED 609.1 million in H1 2022.
Boeing shares surge despite Q2 loss
The aerospace company reported a $149 million Q2 loss.A jump in plane deliveries boosted quarterly revenues to $19.8 billion, up 18 percent from the year-ago level and above analyst expectations.
In the second quarter, Boeing notched a 12 percent increase in commercial plane deliveries. Shares jumped 6.2 percent to $227.45 in early trading.
Proton says will analyze VPN sign-ups to identify attacks on democracy
GENEVA, SWITZERLAND - Internet privacy company Proton announced Wednesday a new VPN Observatory, tracking demand for its services to detect attacks...Switzerland-based Proton said its new observatory would document spikes in sign-ups to its virtual private networks.
VPNs provide a secure, encrypted connection over the internet between a user and a server, giving users greater anonymity.
DIB H1 2023 net profit $844m Â
Profit driven by core revenues, effective cost management.Gross new underwriting and sukuk investments during H1 2023 reached US$12 billion compared to US$8.9 billion in H1 2022.
Total income reached to US$2.5 billion compared to US$1.6 billion, a solid expansion of 49 percent year on year.
Nissan Q1 net profit $750m
Results due to better sales in Japan, North America.Sales rose 37 percent to US$20.6 billion, even as tougher competition and a sluggish post-Covid recovery hurt its performance in China.
The auto giant raised its annual net profit forecast to US$2.4 billion from its previous estimate of US$2.2 billion, boosted in part by cost-cutting.
RAKBANK H1 profit $245m
This is the bank's highest-ever half-yearly profit.Net profit for the second quarter was AED 450.5 million, up 46.6 percent compared to Q2 2022.
Net interest income and income from Islamic products net of distribution to depositors was AED 1.6 billion.
