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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb

The Crown Prince has directed the implementation of the project to strengthen historic Jeddah buildings.
  • The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.
  • In January, the index reached its lowest level in two years, indicating a strong but weaker improvement in Saudi non-oil private sector.

RIYADH, SAUDI ARABIA – The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, rose to 57.2 points in February.

The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.   

The PMI fell to 55.4 points in January 2024.

In January, the index reached its lowest level in two years, indicating a strong but weaker improvement in Saudi non-oil private sector.

As a result, business activity levels expanded at their slowest pace since the beginning of 2022, although the improvement remained generally strong and widespread across the sectors under study.

The index indicated rising inflationary pressures, as higher demand for production inputs, faster rises in staff costs and greater supply chain risks led to the largest increase in purchasing activity since mid-2012. 

However, output prices rose modestly amid greater competition to boost sales.

High levels of new business led to an increase in demand for production inputs, with sharp growth of purchasing activity and inventory holdings.

Companies showed cautious optimism for the coming year as demand growth slowed down and profit margins witnessed pressure.