Search Site

Trends banner

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

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.

UAE, Saudi Arabia lift up Arab stock markets, post US$493bn in gains in 2023

A front view of Abu Dhabi Securities Exchange (ADX).
  • ADX's market capitalization surged to US$803.4 billion and DFM's value jumped to $187.2 billion
  • Saudi Arabia's stock exchange posted $368.2bn in gains, sendings it market capitalization up to $3trn

Abu Dhabi, UAE— Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion, propelled by strong performances in the UAE and Saudi Arabia.

The UAE led the charge, adding $117.5 billion to its market value, reaching $990.6 billion by the end of last year.

This remarkable feat was fueled by robust growth on both the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM). ADX added $88.8 billion to its capitalisation, climbing to $803.4 billion, while DFM witnessed a $28.7 billion increase, bringing its total market value to $187.2 billion.

The Saudi Stock Exchange (TADAWUL) was another major standout, generating $368.2 billion in gains and catapulting its market capitalisation to over $3 trillion.

Egypt’s stock exchange also posted impressive gains, adding $16.8 billion and expanding its market value to $55.6 billion.

The Casablanca Stock Exchange soared $9.6 billion to $63.2 billion and Beirut Stock Exchange surged $5.9 billion to $20.4 billion.

Qatar Stock Exchange maintained momentum, adding $4.5 billion to reach $171.6 billion.

Emerging markets also saw promising gains. Damascus soared to $4.27 billion, while Muscat edged up $170.3 million to $61.8 billion and Tunisia added $137.5 million to reach $7.9 billion.

By year-end 2023, Kuwait Stock Exchange stood at $131.6 billion, Oman Stock Exchange at $23.9 billion, Bahrain Stock Exchange at $20.6 billion, and the Palestine Stock Exchange at $4.62 billion.