Business - TRENDS MENA

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.
As per pact, e& is a cornerstone shareholder of Vodafone.
e& and Vodafone will explore offering joint cross-border digital services to multi-national customers and public sector organizations.
Services will include fixed and mobile connectivity, Mobile Private Networks, IoT, cybersecurity, and cloud-based services.
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 4.1 percent in March 2023, compared to the...
The kingdom's General Authority for Statistics (GASTAT) said the IPI rose to 134.8 points in March, according to the base year 2010, compared to 129.5 points in March 2022.
The index of the mining and quarrying activity increased by 1.6 percent and the sub-index of the manufacturing activity increased by 10.5 percent over previous year.
The group declared a dividend of $1.2 billion to its owner.
The Emirates airline business alone banked $2.9 billion after returning a $1.1 billion loss in the previous financial year.
The Middle East's biggest airline had posted a $5.5 billion loss for Covid-ravaged 2020-2021, its first in over three decades.
The company sold 3.16 million vehicles for the year to march 2023.
Nissan registered a net profit of 220 billion yen for the financial year 2022, pipping its original predicted profit of 220 billion yen.
The company said the gains were the result of sales improvements and cost-cutting, as well as favorable foreign exchange rate fluctuations.
This is the company's highest-ever quarterly revenue.
The company will distribute a total of SAR1.99 billion in cash dividends to the shareholders for the first quarter of 2023.
The company's net profits reached SAR 3.10 billion, an increase of 2.44 percent over the first quarter of 2022.
Dubai, UAE: The economic potential of the Middle East-China trade corridor was the focus of discussion at an exclusive International...
HSBC hosted Chinese ambassador to the UAE Zhang Yiming and a senior delegation from the UAE China Business Council
Trade between China and the UAE reached a record high of $99.27 billion in 2022, marking an annual increase of 37.4%
The company's revenue for the quarter was $5.2 billion.
The company's Q1 2023 revenue was $5.2 billion, down from $6.2 billion for the same period in 2022
It maintained an EBITDA margin of 34 percent in Q1 2023, only 1 percent lower than in Q1 2022