WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel prices, according to government data published on Friday, but another gauge stripping out volatile food and energy prices continued to ease. US Federal Reserve chair Jerome Powell told a conference...
Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.
Construction costs set to rise in UAE, Saudi Arabia in 2024: Report
Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...Burjeel Holdings H1 net profit $61m
Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.
Dana Gas posts fall in profit
Its net profit fell 7 percent to US$50 million in Q1 of 2023.
OECD raises global growth forecast as inflation eases, recovery ‘fragile’
The OECD raised its global economic growth forecast as inflation eases and China emerges from Covid restrictions, but warned of vulnerabilities as seen in the US bank sector turmoil. The Organization for Economic Co-operation and Development said it now expects the global economy to grow by 2.6 percent this year.
Santander 2022 profit at $10.6bn
The bank's profit got a boost due to higher interest rates.
Improved management may reduce insurers’ costs
Insurance claims are the ‘moment of truth’ for the customer and the biggest cost in the potential profit and loss, especially for retail businesses. That is why getting it right matters, the two experts highlight, referring to one of the latest research conducted by Arthur D. Little.
US Fed’s preferred inflation gauge eases in November
A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome news to households grappling with soaring costs while spending slowed. This extends a downward inflation trend in recent months, though it is unlikely to bring quick relief from an aggressive...ArcelorMittal Q3 profit at $993m
Firm is suffering from slowdown in China's economic growth.
Inflation set to shape holiday shopping season
Even as the retail industry is facing unprecedented challenges, the stars are aligning to deliver another "unprecedented" holiday season, a latest report points out.
Volvo Cars posts Q3 net profit of US$61m
Retail sales declined in its main markets Europe and the US.Al-Othaim posts $37m profit
The retailer said the profit soared due to growth in sales.
Egypt’s private sector non-oil activity shrinks in Nov as input costs rise
Egypt's non-oil activity in the private sector shrank for a 12th month in November as inflation expectations rose, causing new business orders to fall by their fastest in a year, a survey said. Media reports said IHS Markit's Purchasing Managers' Index (PMI) came in at 48.7, below the 50.0 threshold...
GCC insurance firms battle pandemic woes
It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since the outbreak of COVID-19 in the region.
Jobs rise for first time in Egypt since 2019
Slight drop in headline seasonally adjusted PMI in July points to minor deterioration in the health of the non-oil sector.
