Business - TRENDS MENA

Operating profit dropped 30.4% to 110.55 billion yen.
For the year that ended March, the engineering giant booked a 126.57 billion yen ($940 million) net profit, down 35 percent on-year, on sales of 3.36 trillion yen, up 0.7%
For the current financial year to March 2024, it forecasts a 110 billion yen operating profit, down 0.5 percent from the previous year, on sales of 3.2 trillion yen, down 4.8%
The firm recorded a net profit of $873 million.
Emaar recorded an EBITDA and net profit for the first quarter of 2023 of $1.1 billion and $873 million respectively
The group's property sales reached AED 9.2 billion (US$ 2.5 billion), an 11 percent increase compared to Q1 2022
If Musk follows through on the announcement, he will be belatedly fulfilling the promise he made to honor the results...
Twitter users in December voted to oust owner Musk as CEO in an unscientific poll he organized and promised to honor, just weeks after he took charge of the Twitter
NBCUniversal head of global advertising and partnerships, Linda Yaccarino, was a potential candidate for the Twitter chief job, according to a Wall Street Journal report
ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
The main objective of the project is to establish a global baseline for renewable energy.
The project will also highlight the challenges faced by different regions in meeting their renewable energy ambitions.
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...
The innovative design of the vessel is likely to reduce carbon emissions up to 30 percent as the vessel will be lighter and smaller.
The design for the 55 meters long vessel will allow the vessels to be operated from an onshore control room through a satellite link.
The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation...
Global policymakers are battling elevated inflation caused largely by runaway energy bills.
Bank of England warned of "considerable uncertainties" on when UK inflation would return to its two-percent target.
The net profit increased by 17 percent in Q1 compared to Q1 2022,
The revenue for the first quarter reached SAR240.1 million, less 7.4 percent from SAR259.3 million during the same period last year.
The company attributed the rise in net profit to an increase in the average selling price, decrease in cost of sales and decrease in selling and distribution expenses.
Aramex said revenue was impacted by currency fluctuations, etc.
Net Q1 profit declined by 49 percent YoY to $6.54m due to a mix of factors, including currency devaluation in certain markets.
The company said its revenues -- which declined marginally by 1 percent YoY to AED 1.43 billion -- were driven by stable performance in International Express.
Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were...
The energy giant denied reports that it has temporarily suspended plans to produce blue hydrogen.
It targets to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030.
Foxconn blamed the plunge on weakened demand.
The net profit of Foxconn dropped 56 percent during the first quarter of 2023, compared to 2022 Q1, with a net profit $417 million.
Foxconn said its sale is likely to drop during the second quarter of 2023 as well, citing 'slow season' as a reason for it.