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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.
  • Emirates to retrofit 105 aircraft with Premium Economy product from 2022

    Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with...

    The aircraft will be retrofitted at Emirates Engineering Centre in Dubai.

    The airline is also considering installing a new Business Class product on its Boeing 777 aircraft, with customized seats in a 1-2-1 layout.

  • Saudi Arabia stares at another round of inflation

    The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As...

    Saudi Central Bank cites jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices

    On a quarterly basis, however, the country’s inflation in this year’s last quarter will be relatively stable, says SAMA

  • ADNOC to invest $6 billion more in drilling to ramp up production

    Abu Dhabi's national oil company announced Tuesday a $6 billion investment in crude oil drilling as it ramps up production...

    The investment would "enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day by 2030", ADNOC said.

    The UAE is one of the world's top crude exporters, with an average of 4.2 million barrels per day.

  • Emirates expects to return to profit in ‘next 18 months’ as losses drop by half

    Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the...

    The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.

    Emirates posted an April-September loss of $1.6 billion, compared with $3.4 billion during the same period in 2020.

  • Investment Group signs share swap contract with Elegancia

    Investment Holding Group Q.P.S.C. has signed a share swap contract with the sellers of the shares of Elegancia Group LLC...

    The contract, however, will not result in any legal effect until after obtaining the approval of the Qatar Financial Markets Authority

    The company will follow and implement all laws and instructions issued by the Qatar Financial Markets Authority

  • GCC countries warm up to cloud kitchens

    Mubarak Jaffar, CEO of the cloud-kitchen firm KLC company, tells TRENDS how virtual kitchens are feeding a growing demand.

    A virtual or cloud kitchen simply hosts virtual brands that don’t have a store

    The kitchen itself doesn’t provide dining services — only delivery — and in some cases takeaway

  • New service to help start business in Saudi Arabia in three steps

    For new investors, the new service will require only three steps: visiting the Saudi Ministry of Foreign Affairs website and...

    Investors and companies wanting to do business in the Kingdom will benefit from the new reforms

    The ministry said there will be a broad marketing campaign to ensure that foreign investors and companies can benefit from the new service

  • Every second, Pfizer, BioNTech, Moderna make $1k profit

    The trio is estimated to make pre-tax profits of $34 billion this year: over $1,000 a second, $65,000 a minute,...

    Pfizer and BioNTech are estimated to have delivered less than 1 percent of their total supplies to low-income countries

    Moderna has delivered just 0.2 percent, according to an analysis

  • Pakistani Basmati export to KSA, UAE suffers setback

    Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of...

    Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of its rice from India

    He; however, expressed the hope that the outcome of Prime Minister Imran Khan’s recent visit to Saudi Arabia may have some positive impact on the export of rice

  • Dubai Airshow Day 2: UAE military inks $3bn deals

    The deals were signed with one local company and four others from around the world.

    The total number of deals in these two days have been 10 contracts with a total value of AED16.52 billion ($4.5 billion)

    The deals of the first day amounted to AED5.24 billion ($1.43 billion), including one with Airbus Defense

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