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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.
  • Bahrain and the Netherlands discuss ways to boost ties

    Bahrain and the Netherlands discussed ways to strengthen cooperation and boost the youth sector in both countries through exchange of...

    Both sides lauded the distinguished relations between Bahrain and the Netherlands in all fields

    They also highlighted the major initiatives and programs launched to support the youth sector

  • UK PM may visit Saudi Arabia to lobby for uptick in oil output

    Britain on Sunday defended lobbying Saudi Arabia to up its oil output as energy sanctions on Russia hit Western consumers,...

    Senior cabinet minister Michael Gove did not deny a report in The Times on Saturday that Prime Minister Boris Johnson is set to visit Riyadh this week

    The newspaper said Johnson will lobby Saudi Crown Prince Mohammed bin Salman to help offset the impact of the Ukraine-linked sanctions

  • Tibbiyah posts 14% drop in profit

    Arabian International Healthcare Holding Co., also known as Tibbiyah, has posted a fourteen percent drop in net profit to $21...

    Despite the fall in profitability, the company's board proposed the distribution of SR3 per share in dividends for 2021

    The company said the drop in profit was caused by a decline in sales

  • SAMI of Saudi Arabia to hire more women to support diversity

    Saudi Arabian Military Industries (SAMI) will hire more staff and most of them will be women in order to support...

    Unit last year, SAMI had about 2,500 employees, with 82 percent Saudization and females representing 22 percent of the workforce

    At the end of 2021, SAMI was among the top 85 defense companies in the world

  • Saudi women drive for extra cash as costs climb

    Sweeping social reforms, including lifting the infamous ban on women driving, have transformed life for many Saudis, but rising costs...

    According to the official data, women made up more than a third of the workforce in 2021

    Over 200,000 women in Saudi Arabia have been issued driving licenses since 2018

  • Egypt nixes reports that Suez Canal traffic is falling

    The key trading link is setting new records, said the government, quoting the Suez Canal Authority.

    About 10 percent of global trade, including 7 percent of the world’s oil, flows through the Suez Canal

    First opened in 1869, the canal is a source of national pride and foreign currency to Egypt

  • QFD unveils Morocco housing

    The residential complex is located in Bir Al-Souk in Morocco.

    The residential complex is expected to have 12 buildings consisting of three floors and a basement

    Each floor contains four apartments, with each apartment having an area of 72 square meters

  • Saudi Arabia to grant licenses to renewable energy facilities

    Saudi Arabia will grant industrial licenses to facilities operating in the renewable energy sector and power plants in order to...

    The Ministry of Industry and Mineral Resources and the Ministry of Energy have partnered with the Non-Oil Revenues Development Center to grant the licenses

    The Ministry of Industry and Mineral Resources also provides many incentives and benefits to investors in the sector

  • Qatar may dislodge Russia to be Germany’s energy supplier

    In order to lower its dependence on Russian oil and gas, Germany is looking toward Qatar to fulfill its energy...

    Germany is to close its last nuclear power plants this year and plans to build its first liquefied natural gas terminal within two years

    Qatar is one of the countries that recently have been approached by the US to reroute gas supplies to Europe

  • Social media poses ‘existential threat’ to traditional, trustworthy news: UNESCO

    The business model of the news media is ‘broken’ and with it, our fundamental right to information is at risk,...

    The UNESCO analysed media development trends from 2016 to 2021 and found that global newspaper advertising revenue has fallen by half during the five year period

    The report indicates that news outlets often struggle to get clicks from readers that determine advertising revenue, and many find themselves “squeezed out”