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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.
  • Qatar Islamic Bank profit up

    It posted a 7.5% jump in net profit to US$1.18bn last year.

    The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022

    Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share

  • Mawani reports rise in container handling

    The growth aligns with the aims of national logistics strategy.

    Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022

    Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022

  • Disinformation, misinformation hurt global businesses

    "These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...

    Rebuilding trust and fostering global collaboration are essential to address the present challenges.

    The role of AI and digital innovation in combating misinformation and boosting productivity.

  • Google to slash ‘few hundred’ jobs

    The internet giant will cut jobs from its global ad team.

    The jobs will be cut by the company amid a push to use artificial intelligence for efficiency and creativity

    The company made no mention of generative AI, which is disrupting many sectors including advertising.

  • WTO hopes to finalize fishing agreement

    GENEVA, SWITZERLAND -  The head of the World Trade Organization's fisheries talks voiced optimism  on Tuesday about striking an agreement on...

    The 164 WTO members kicked off a month of negotiations this week at the global trade body's headquarters in Geneva.

    The draft text is intended to help members reach agreement on a so-called "clean text" for submission to ministers in Abu Dhabi.

  • Shell halts Red Sea shipments over attack fears, say report

    WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...

    The worries of escalation grew after United States and United Kingdom strikes on scores of sites in rebel-held Yemen.

    The Houthis have been targeting what they deemed Israeli-linked vessels, but after the strikes, they declared US and British interests "legitimate targets."

  • Emirates to recruit 5,000 crew members in 2024

    DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...

    The airline is inviting fresh graduates with internships or part-time jobs on their résumés.

    It is inviting individuals keen to embark on an exciting career travelling the globe. .

  • Nespresso faces $330 m lawsuit in Switzerland over capsules

    Zurich, Switzerland - A French television star and a group of investors are demanding 280 million Swiss francs ($330 million) from...

    A French television show host Jacques Essebag, who goes by the name Arthur, is leading the suit against the Nestle subsidiary

    Nespresso, when contacted by AFP, acknowledged the lawsuit filed by ECC but said it did not comment on ongoing legal proceedings

  • Counterfeit products cost Europe $13 billion, 200,000 jobs a year

    Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...

    The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually

    The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses

  • Markets drop as Middle East tensions rise, rates cut delayed

    While inflation is on a general downward path, there is a worry that it could pop back up anytime, particularly...

    Equities soared at the end of 2023 as falling inflation saw the Fed indicate that it was preparing to reverse more than a year of hikes to US interest rates

    However, January has seen the wind come out of the sails with Fed officials saying they were keen to keep rates elevated for some time