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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.
  • China steps up green transition drive to meet carbon-emission goals

    Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill...

    According to data, in 2023 a total of 78 steel enterprises completed the full-process ultra-low emission transformation of their production capacity

    Some 5,095 green factories have been established at national level, contributing to over 17% of the total output value of the manufacturing industry

  • Capital One to buy Discover for US$35.3bn

    Its shareholders will own 60% of the combined company.

    Under the deal, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, a premium of 26.6 percent over Discover's closing price on Friday

    Acquisition of Discover will help "build a payments network that can compete with the largest payments networks and payments companies," said Capital One founder and CEO

  • BP to pour US$1.5bn into Egypt oil exploration

    It plans to hike investments in the country to US$5 billion.

    Its CEO said the company plans to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas

    The production plans are being stepped up to meet the growing demand of the local market and to support Egypt's endeavours to export the surplus energy

  • BHP net profit tumbles 86%

    Its sales jumped 6% to US$27.2bn in half-year results.

    The company's net profit dropped 86 percent to $927 million as it took a hammering from exceptional items

    The mining giant said last week that it was writing down its Western Australian nickel assets because of a market slide

  • Consumer products sector grows amid rising prices

    The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...

    The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10 percent year on year in 2023, says a report.

    However, the sector remain at a crossroads, with inflation, digital transformation, and sustainability shaping the future, adds the latest report by Bain & Company.

  • stc 2023 revenues is $19.28bn

    Gross profit for 2023 rose 1.1 percent compared to 2022.

    The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent

    It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.

  • Construction in China-Saudi Arabia ethylene project begins

    FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...

    The project is being built in the Gulei petrochemicals base in Zhangzhou city, in eastern China’s Fujian Province.

    The project entails a total investment of $6.3 billion from SABIC and Fujian Energy Petrochemical Group Co. Ltd.

  • Iran-EU trade surpasses US$5bn in 2023, says Eurostat

    TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...

    Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.

    During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.

  • KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility

    ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...

    The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.

    The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.

  • Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO

    DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...

    Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023.

    Dubai Airports' official forecast for 2024 stands at 88.8 million passengers, despite the Israel- Hamas war which began in October.