This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.

Search Site

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

Aramco net income $28bn

Capital investment during Q3 2025 $12.9bn on investments in energy projects.

e& revenue up 23%

Consolidated net profit reached $2.94 billion during 2025.

Al Rajhi profit up 26%

Operating income for 2025 increased 22% to SAR 39 bn.

Raisi says economy, Covid response ‘does not befit’ Iran

  • He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
  • Iran has been strangled financially by sanctions reimposed by Washington after then US president Donald Trump pulled out of a multilateral nuclear deal in 2018

Iran’s President Ebrahim Raisi on Thursday vowed to improve the country’s sanction-hit economy and its Covid response, saying that the current situation “does not befit” the Islamic republic.

He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday.

Lawmakers approved one-by-one 18 out of 19 candidates put forward by the ultra-conservative Raisi for the ministerial posts.

“The country’s situation today does not befit the great nation of Iran and it must certainly change,” Raisi said in a speech broadcast live on television.

The Islamic republic is “seriously lagging behind” in certain areas, Raisi said, adding that his government’s priorities would be to curb a surge in coronavirus infections as well as to control inflation and “improve people’s livelihoods”.

In Iran where ultimate power rests with supreme leader Ayatollah Ali Khamenei, Raisi inherits a difficult socioeconomic situation.

The ultraconservative won a June 18 election marred by record low turnout and an absence of significant competitors.

Iran has been strangled financially by sanctions reimposed by Washington after then US president Donald Trump pulled out of a multilateral nuclear deal in 2018.

Its already severe economic crisis has been amplified by the Covid pandemic.

Iran is the country in the Middle East worst hit by the virus and is currently grappling with a fifth wave of infections — the strongest yet — with daily deaths and cases hitting record highs several times this month.

Fewer than 6.5 million of Iran’s 83 million people have received a second vaccine dose, according to official figures.

Choked by US sanctions that have made it difficult to transfer money abroad, Iran says it has struggled to import vaccines.

Raisi vowed to increase vaccine imports and boost local production without offering details, saying efforts so far have been “necessary but not enough”.

Authorities have approved the emergency use of two domestically developed vaccines, but the only mass-produced one, COVIran Barekat, is in short supply.