Search Site

Trends banner

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Arab League rues decline in Lebanese-Gulf ties

The Arab League is confident Lebanese President Michel Aoun and Prime Minister Najib Mikati would act quickly to ease the crisis.
  • The Arab League Secretary-General Ahmed Aboul Gheit has appealed to Gulf countries "to reflect on the measures proposed to be taken
  • The statement came a day after Saudi Arabia ordered the Lebanese ambassador to the kingdom to leave within 48 hours

The Arab League has expressed strong disappointment at a decline in relations between Lebanon and Gulf states, after an adverse comment by a Lebanese minister about the Saudi-led military intervention in Yemen.

The Arab League Secretary-General Ahmed Aboul Gheit has appealed to Gulf countries “to reflect on the measures proposed to be taken…in order to avoid further negative effects on the collapsing Lebanese economy”.

“…Aboul Gheit expressed his deep concern and regret over the rapid deterioration in Lebanese-Gulf relations…,” the statement said. It added he was confident Lebanese President Michel Aoun and Prime Minister Najib Mikati would act quickly to ease the crisis.

The statement came a day after Saudi Arabia ordered the Lebanese ambassador to the kingdom to leave within 48 hours and banned all Lebanese imports in response to remarks by the Lebanese minister.