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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.

SEIC buys stakes in Egypt firms

Saudi Arabia is the top global and Arab investor in Egypt.
By TRENDS Desk
August 11, 2022 9:06 am
  • The SEIC will own shares in Abu Qir Fertilizers and Chemicals Industries Co., Misr Fertilizers Production Co., Alexandria Container and Cargo Handling Co.
  • The companies operate in sectors such as fintech, logistics, and fertilizer

The Saudi Egyptian Investment Co., a fully owned Public Investment Fund company, has bought majority stakes in four publicly listed Egyptian companies.

The Egyptian Ministry of Planning and Economic Development said that the deal is worth $1.3 billion.

The SEIC will own shares in Abu Qir Fertilizers and Chemicals Industries Co., Misr Fertilizers Production Co., Alexandria Container and Cargo Handling Co. and E-Finance for Digital and Financial Investments SAE.

The companies operate in sectors such as fintech, logistics, and fertilizer.

Meanwhile, SEIC aims to support PIF’s efforts to explore new investment opportunities in the Middle East and North Africa region that support the creation of long-term strategic economic partnerships to achieve sustainable returns.

 

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