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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

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

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ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

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

Price of natural gas in Europe falls to a 3-year low

European nations were forced to undertake measures to restrain consumption. (AFP)
  • Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union.
  • Gas prices soared in 2022 and into 2023 as Russia's invasion of Ukraine made EU countries limit consumption and diversify their sources of supply.

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost three years as mild winter weather continues and European stockpiles hold up.

Mid-morning on Friday, the benchmark Dutch TTF futures contract was down 3.2 percent at US$24.3 (22.45 euros) a megawatt-hour (MWh), shortly after hitting US$24.16 (22.315 euros), its lowest since May 2021.

Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union, according to the Agregated Gas Storage Inventory (AGSI) platform.

Britain’s equivalent of the TTF also hit a recent low Friday at 55.42 pence per therm. UK gas reserves are filled to 77.15 percent, according to AGSI.

Gas prices soared in 2022 and into 2023 as Russia’s invasion of Ukraine sent European countries scurrying to limit consumption and diversify their sources of supply.

European nations were also forced to undertake measures to restrain consumption, but made it through the winter of 2022-2023 without cuts to residential heating or electricity generation.