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Economy

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Saudi GDP surges 12.2% in Q2, surpassing estimate

The industry is responsible for 37 percent of global carbon dioxide emissions. (AFP)
By TRENDS Desk
September 7, 2022 1:18 pm
  • The oil economy grew 4.4 percent in the second quarter from the first quarter
  • Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter

Riyadh, Saudi Arabia—Saudi Arabia’s real gross domestic product has surged by 12.2 percent in the second quarter compared with the same period of 2021, data showed on Wednesday,

The world’s top oil exporter has benefited from high crude prices and a post-pandemic recovery.

The growth figure exceeded a government estimate at the end of July of 11.8 percent GDP growth. The economy grew 2.2 percent from the first quarter.

The General Authority for Statistics said: “The growth is mainly due to the high increase in oil activities by 22.9 percent y-o-y”. The oil economy grew 4.4 percent in the second quarter from the first quarter.

Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter. Government activities grew by 2.4 percent in the year to end-June, a 0.4 percent rise compared to the first quarter.

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