Economy - TRENDS MENA

With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...

Pact involves investment of over US$272 million.
The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
The highest standards of food safety in line with International biosecurity standards will be followed.
BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit...
Credit Suisse's share price plunged on March 15, causing the central bank to step in with a $54-billion lifeline for the second-biggest bank in Switzerland.
The Swiss government, Swiss National Bank and the financial market regulator strongarmed UBS into a $3.25-billion takeover on March 19.
ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be...
UAE will participate in the 52nd annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development.
UAE will also take part in the 47th annual meeting of the Board of Governors of the Arab Bank for the Economic Development in Africa.
The consolidated revenue rose 13 percent to $24.2 million.
The total consolidated revenue rose 13 percent to $24.2 million in Q1 2023, compared to $21.4 million in Q1 2022.
Operating income amounted to $12.9 million, while investment returns and other income reached $11.3 million
The airline's revenues were $12.2 billion, up 37 percent.
The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest...
The first quarter growth figure adds to lackluster US consumer confidence data which has deepened worries about a broader recession.
Yields on US government debt rose after the data was released and also reported a drop in weekly jobless claims.
Operating income increased by 51 percent year-on-year.
The Q1 net profit rose by 60 percent sequentially, leading to an annualized Return on Tangible Equity of 18.5 percent.
The cost-to-income ratio improved to 25.1 percent, compared to 33.2 percent in the same quarter last year.
Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave...
About 30 minutes into trading, Meta was up around 15 percent, while all three major US indices were in positive territory.
The broad-based S&P 500 advanced 0.8 percent to 4,087.37, while the Nasdaq Composite Index climbed 0.9 percent to 11,960.26.
US economic growth lost steam in the first quarter this year, said the Commerce Department, as the possibility of a...
US gross domestic product rose at an annual rate of 1.1 percent in the January to March period, down from 2.6 percent in the fourth quarter last year.
The GDP growth figure "reflected increases in consumer spending, exports, federal government spending," said the US Commerce Department.
The bank's profit was boosted by rising interest rates.
Pre-tax profit rallied 16 percent to $3.2 billion, making Barclays the biggest gainer on London's top-tier shares index.
The Bank of England and its global counterparts have ramped up interest rates to tackle sky-high inflation.