Nations step up outreach to Syria’s post-Assad rulers
Governments worldwide are stepping up efforts to engage with Syria's new interim rulers, just over a week after Islamist-led rebels...
Boeing to boost 787 production
The firm will invest$1bn to ramp up production in South Carolina.
Business
Business
Beyon Q1 net profit $47.7m
Revenues for the first quarter increased by 5 percent over Q1 2022.
- Revenues for Q1 2023 are BD103.5 million ($274.5 million) compared to BD98.5 million in Q1 2022.
- Operating profit for the first quarter of 2023 increased by 15 percent to BD25.5 million from BD22.1 million in Q1 2022.
Zain posts Q1 revenue of $639m
The company also posted its highest-ever quarterly profit.
- The company achieved net profit of SAR 563 million in Q1 2023, a growth of 595 percent compared to Q1 2022.
- Zain attributed the record profit to its "financial performance and the gains achieved through the sale and leaseback of Zain KSA’s 3600 towers.
Business
Ryanair orders 300 Boeing jets
The $40bn order is the largest ever by an Irish firm for US goods.
- The jets are set for delivery between 2027 and 2033, while airlines traditionally negotiate substantial discounts on list prices, especially for big orders.
- The Dublin-based carrier said the deal would be subject to shareholder approval at its annual general meeting in September, owing to the size and scale of the transaction.
Geostrategy
Arrest may hinder Imran Khan’s path to second Pakistan innings
Islamabad, Pakistan -- Since being ousted from office by a vote of no confidence last year, former Pakistan prime minister Imran...
- The one-time international cricket star was arrested as he appeared at Islamabad High Court to face one of a slew of cases levelled against him.
- Khan's vision was for Pakistan to become a welfare state modelled on the Islamic golden age of the seventh to 14th centuries.
Economy
Global stocks mostly drop on eve of key US inflation data
The dollar wobbled following strong gains in the wake of Friday's solid US labor market figures, while oil prices dropped...
- "US inflation data… will play a key role in shaping the Fed's interest rate plans moving forward," said Nigel Green, head of financial advisory firm deVere Group.
- A drop in the inflation reading in recent months has fanned hopes that the Fed will soon pause its tightening campaign and even begin cutting by the end of the year.
Business
Messi makes blockbuster Saudi move, will play next season
The deal would mean Messi potentially joins his arch-rival Cristiano Ronaldo in the Saudi league. There was no confirmation from...
- Reportedly, Messi has been signed under a 'huge' contract by a Saudi club, the details of which are yet to be revealed
- Messi's long-time sparring partner Ronaldo joined Saudi Pro League club Al Nassr in a massive deal in January.
Business
UAE among top three countries with high crypto use or ownership
According to Statista's Global Consumer Survey, countries in Africa, Asia, and South America have higher crypto adoption rates than Western...
- The global crypto market revenue is expected to double this year to almost $38 billion, following a challenging year in 2022.
- The crypto adoption rate in Germany, the United Kingdom, France, and Italy is even lower, at 12 percent and 11 percent.
Geostrategy
Syria does not merit readmission into Arab League: US
"We continue to believe that we will not normalize our relations with the Assad regime and we don't support our...
- Patel, however, played down the disagreements and said that the United States shared common objectives with many its Arab partners on Syria.
- He said that the United States would also work with Arab partners on expanding humanitarian access to Syrians.
Business
Yahsat posts record Q1 revenue
Net income increased by 35 percent during the quarter.
- In a statement, the company said the growth in revenue was primarily driven by the Managed Solutions segment,
- Infrastructure, the Group’s largest business segment, reported AED220 million [$60 million] in revenue for the period.
Business
Invictus Q1 revenue up 31%
The company posted its highest-ever quarterly sales.
- The company's earnings in Africa region reached AED1.7 billion and in the Middle East AED489 million, reflecting a growth of 48.5 percent.
- A 39 percent increase in net profit to AED93 million was recorded in the first quarter, compared to the last quarter of 2022.
Nations step up outreach to Syria’s post-Assad rulers
Governments worldwide are stepping up efforts to engage with Syria's new interim rulers, just over a week after Islamist-led rebels...
Company News
Latest News
Gaza civil defence says Israel strikes on two schools kill more than 18
Senior civil defense official Mohammad al-Mughayyir said 60 people were also wounded and more than 40 still missing in the...
Geostrategy
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
Business
Turkey joins South Africa’s Israel ‘genocide’ case at ICJ
A Turkish parliamentary delegation accompanied by the Turkish ambassador to the Netherlands filed a "declaration of intervention" at the ICJ's...
Geostrategy
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Business
Abu Dhabi to host Loop CEE travel fair for first time in Middle East
Abu Dhabi, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral will host...
- The luxury travel fair is being organized by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral.
- Over the course of five days, each exhibitor will have the opportunity to conduct 62 appointments, each lasting for 15 minutes.
Geostrategy
G7 foreign ministers met by videoconference over Mideast: Italy
Rome, Italy -- G7 foreign ministers met by videoconference Sunday to discuss the Middle East and expressed "strong concern" over the...
- "Together with our partners, we have expressed strong concern about recent events that threaten to determine a regionalization of the crisis," Italian foreign minister said.
- The foreign ministers, it said, "reiterated the priority of a favorable conclusion of the negotiations on the ceasefire in Gaza and the release of hostages".
Geostrategy
Travellers rush to leave Lebanon amid spiking tensions
Several airlines including Lufthansa and Air France have delayed or suspended flights to Lebanon, and countries have issued urgent calls...
- Fears have spiked that months of cross-border violence could degenerate into all-out conflict between Hezbollah and Israel, who last fought a devastating war in the summer of 2006.
- Embassies have repeatedly urged their citizens to leave Lebanon while commercial flights are still available.