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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.

  • Price of natural gas in Europe falls to a 3-year low

    LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...

    Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union.

    Gas prices soared in 2022 and into 2023 as Russia's invasion of Ukraine made EU countries limit consumption and diversify their sources of supply.

  • ADGM’s Registration Authority fines two firms for audit failings

    ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...

    The RA fined Baker Tilly US$50,000 and Sturgeon US$12,500 for serious failings and gaps in the financial audit

    The RA expects ADGM firms to conduct and prepare audit reports in accordance with professional standards.

  • Shipping insurance rates soar on Red Sea missile attacks

    Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to...

    The Houthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes

    Premiums for ships have "increased significantly" following the Houthi attacks, according to Frederic Denefle, head of Garex, a French firm specialized in marine risk insurance

  • Saudi Arabia, China sign MoU to develop air transport cooperation

    Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation.The MoU...

    The MoU was signed during the visit to China of Saudi civil-aviation officials

    The areas of cooperation outlined in the MoU include expanding the number of air transportation stops

  • MENA ups cybersecurity ante to combat GenAI risks

    With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...

    With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are investing heavily to safeguard their futures.

    A surge is seen in security and risk management spending, highlighting critical need for robust cybersecurity measures and a proactive approach to manage digital risks.

  • Lloyds Group profit is $6.2bn

    High interest rates benefitted the British lender and banking sector as a whole.

    "The group delivered a robust financial performance in 2023, meeting our guidance," said chief executive Charlie Nunn

    Banks in the UK and elsewhere are gaining from higher interest rates as central banks, including the Bank of England

  • Asian markets up, Tokyo hits record as US tech earnings jump

    Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from...

    Highly anticipated earnings results from Nvidia beat expectations late Wednesday, with the firm reporting a quarterly profit of $12.3 billion

    Hong Kong, Shanghai and Seoul stocks closed higher, and markets in Taipei, Bangkok, Manila and Wellington were also up

  • Rolls-Royce back into profit

    The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.

    Shares in Rolls soared almost ten percent in afternoon trading, topping London's benchmark FTSE 100 index

    Its share price more than trebled last year but at the end of 2023 it was still only up 6.5 percent over the previous five years.

  • Vietjet to buy 20 A330-900 planes

    The company signed MoU with Airbus for the widebody aircraft.

    Vietjet signed MoU with Airbus for the widebody aircraft, which will replace its current fleet of leased A330-300 planes, Airbus said in a statement

    At list prices, the Vietjet order would be worth $5.9 billion, but customers usually get a discount when making bulk aircraft orders

  • Nestle net profits up 20.9%

    Sales grew 7.2% in value terms, fell 0.3% in volume.

    Nestle said turnover fell as a rising Swiss franc and a slight fall in sales volumes balanced out higher prices

    The maker of Nespresso, Maggi seasonings, and the Smarties range of sweets said turnover fell 1.5 percent