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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.
  • European Union slaps $1.9bn fine on Apple over violation of rules

    Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...

    The $1.9 billion penalty is the third-biggest antitrust fine ever imposed by the European Commission

    The iPhone maker immediately vowed to appeal the first ever antitrust fine slapped on Apple by Brussels

  • EDGE Group, Indra form JV

    It will make next-generation radar systems in UAE.

    The new business entity will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.

    The JV will place a strategic focus on the continued development of sophisticated technologies, innovation and global market.

  • Salik revenue soars to US$574m

    Toll usage revenue rose 11.7% YoY to US$502million.

    The total number of trips made through Salik’s eight toll gates grew by 10 percent over the course of the year.

    Salik’s registered active accounts increased 16.0 percent YoY to approximately 2.4 million at the end of 2023.

  • Dubai International Boat Show helps in marine business

    DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...

    The exhibition is recognized as one of the most influential boat shows in the world.

    The exhibition has wrapped up following a hugely successful week of boat sales.

  • Qatar and Egypt hold talks to ramp up civil aviation cooperation

    Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...

    The two countries signed a memorandum of understanding to increase air transport rights to Cairo International Airport

    The agreement will facilitate the opening of new avenues of cooperation in the field of air transport between the two countries

  • Middle East emerges as a major player in global CEO appointments: report

    Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a...

    Companies in the region boasting the highest global percentage of CEOs with prior C-suite experience, standing at an impressive 90 percent

    Surprisingly, the Middle East also leads globally in terms of CEO age, boasting the youngest average CEO age at 54.5 years

  • 89% of Saudi CEOs hopeful of kingdom’s economic growth over next 12 months

    Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the...

    A remarkable 71% of Saudi CEOs have observed a 5% or more increase in market share over the past three years, surpassing the global average of 49%

    The Vision 2030 initiative, with its focus on reducing oil dependency, has propelled Saudi Arabia to the 17th largest global economy by GDP size in 2022

  • DIEZ profit jumps 64.6% in 2023

    The market value of its net assets crossed US$5.66bn.

    DIEZ reported growth in earnings before interest, taxes, depreciation, and amortisation by 49.2 percent, alongside an 8.1 percent increase in total revenues

    Economic zones affiliated to DIEZ have experienced substantial growth across six key sectors, which collectively represent 95 percent of total companies hosted.

  • Iraq economy likely to grow this year, says IMF

    BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...

    Medium-term vulnerabilities to oil price volatility have increased significantly, the IMF said.

    Growth in the non-oil sector has rebounded strongly in 2023 while inflation has receded.

  • GAS, SPPC ink two contracts

    The duration of each contract is of 22 months.

    The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.

    The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).