Economy - TRENDS MENA

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,

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.
Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States,...
Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States, a latest report highlights
The first construction megaproject with a cost exceeding $1 trillion is expected to emerge by the end of the decade, the latest 1Build report points out
The International Energy Agency (IEA) said the rapid electrification of road transportation will have big implications for the energy industry as...
In its annual report on electric vehicles, the IEA said it expects annual sales to rise 35 percent this year to reach 14 million.
The IEA said the overwhelming majority of electric car sales are concentrated in three markets: China, Europe and the United States.