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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.

  • Emaar unveils new projects

    The new projects are estimated to value US$26.14 billion.

    The first development valued at $15 billion is poised to set a new standard in premium high-end living

    The second valued at $11.16bn is designed to house wellness facilities, a new standard in luxury hospitality

  • ADNOC buys 25% stake in OMV

    The OMV is headquartered and listed in Vienna, Austria.

    The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor

    Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, now owns 31.5 percent, with the remaining share capital in free float

  • Digital transfers reshape MENA’s financial landscape

    The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...

    The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.

    COVID-19 expanded the diaspora's role in digital payments, boosting prepaid services and accelerating the shift from cash to digital via cryptocurrencies and blockchain.

  • WTO ministers struggle to forge deals as talks go into overtime

    ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...

    The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.

    They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.

  • Major stock markets trade mixed as US inflation data awaited

    London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...

    Shares in Air France-KLM slumped nine percent after annual profit fell short of expectations as it fell into a final-quarter loss

    Yen jumped on rising expectations of a hike to Japanese interest rates, as other central banks look to reduce borrowing costs

  • QFC signs two MoUs

    MoUs with BFB, Partior were inked during Web Summit 2024.

    The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.

    Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.

  • Abu Dhabi residential sector achieves record growth in 2023, says report

    ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...

    The increase in demand for residences has been driven by several positive initiatives and announcements by the government.

    Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.

  • British Airways profit soars six-fold

    The company said it was 92% booked for the first quarter of 2024.

    Profit after taxation jumped to 2.7 billion euros ($2.9 billion) in 2023 from 431 million euros in 2022, the airline conglomerate said in a results statement

    The company also issued a rosy outlook rooted in "robust" demand, adding that it was 92-percent booked for the first quarter of 2024 and 62-percent booked for the first half

  • Electronic Arts announces job cuts

    The company is cutting about 5 percent of its workforce.

    The company behind hits including soccer game "FC24" is also "sunsetting" some titles and stopping development of others it thinks will not be successful

    The annual report Electronic Arts last year indicated it had 13,400 employees, meaning about 670 positions are being eliminated

  • Egypt signs several MoUs with global developers in renewable energy

    Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...

    The agreements to set up geen hydrogen projects represent a new step or the Sovereign Fund of Egypt in its partnerships with global companies

    The green projects are expected bring in investments of $12bn for the pilot phase and $29bn for the first phase, for a total of $40bn over 10 years