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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.
  • Passenger traffic at Sharjah airport jumps to 15.3 million in 2023

    Sharjah, UAE--The number of passengers travelling through Sharjah airport reached 15.3 million in 2023, as compared to 13.1 million in...

    The airport's traffic shot up 12 percent with over 98,000 flight movements in 2023 as compared to around 87,000 flight movements in 2022

    The airport also added three new destinations for air cargo including Houston in the United States, Kigali in Rwanda and Nasik in India

  • S&P estimates UAE GDP to grow beyond 5% in 2024

    According to Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor's Global Ratings that the global economy while...

    She said S&P expects continued strong momentum in Dubai's hospitality, wholesale and retail

    There was a sharp increase in Russian buyers becoming one of the largest investor groups in Dubai

  • Dubai set to navigate new realty landscape this year

    In 2024, the real estate sector is expected to continue to evolve, offering challenges and opportunities for investors and residents...

    In the year 2024, the real estate sector is expected to continue to evolve, offering challenges and opportunities for investors and residents alike despite global uncertainties.

    The market's robust performance, driven by foreign investments and green drive, positions Dubai as a leading global hub for both residential and commercial real estate.

  • Aramco Digital, Intel to join hands

    The aim is to help develop of Open RAN technologies.

    The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the Kingdom.

    This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification.

  • Stock markets: Germany drags Europe down, Tokyo rises again

    In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break...

    "European stock markets were softer... as the week got off to a relatively quiet, risk-averse start," noted Neil Wilson, chief market analyst at Finalto trading group

    In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break above 35,000 points for the first time since 1990

  • Saudi Arabia unveils 45,000-seat multi-use stadium in Qiddiya City

    RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of...

    Upon opening, the stadium is anticipated to host some of Saudi Arabia’s biggest sports, entertainment, and cultural events.

    It aims to draw visitors from across the globe and revolutionize the traditional stadium experience with its immersive design.

  • IMF chief at Davos: AI holds risks, opportunity for global economy

    Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...

    "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.

    Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.

  • Ummahat Island unveils world’s first net-zero 5G network towers

    Tabuk, Saudi Arabia -- Red Sea Global (RSG), Zain KSA, and the French Serge Ferrari Group have developed and installed...

    In addition to being 100% solar powered, these towers are designed in a way that allows air circulation to reduce cooling costs, and do not require high maintenance.

    They are also aimed at preserving biodiversity and enabling tower sharing among all licensed telecom operators in KSA.

  • Mammoet, Aertssen sign agreement

    The two firms will provide heavy-lifting solutions in Qatar.

    Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".

    The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.

  • Saudi Arabia, China ink MoU in accounting and auditing

    RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of...

    The MoU is similar to other agreements that GCA has reached with counterpart organizations in different countries.

    These agreements underscore GCA's elevated professional standing, at both regional and international levels.