The German airline's net profit climbed to US$964m in Q1.

The Qatari gas firm's net profit rose to US$213m in H1 of 2023.

The net profit rose to US$39.21m in H1 of 2023.

Its net profit vaulted to US$132 million in the first half of 2023.

Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by the Gulf state's sovereign wealth fund. He has signed a three-year deal after completing his move from Liverpool. The 29-year-old was left out of Liverpool's pre-season squads for trips to...

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data released by the government. The kingdom's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million over the same period in 2022....

Its net profit fell 53.8% in H1 of 2023 to US$0.92m.

The oil firm and its subsidiaries posted a net profit of US$8.4bn.

It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.

The net profit surged to US$493 million in the first half of 2023.

Amman, Jordan-- Exports to Greater Arab Free Trade Area (GAFTA) countries from Jordan increased 16.6%, amounting to $1.60 billion, compared to about $1.38 billion for the same period last year. Foreign trade data issued by the Department of Statistics (DoS) indicated a drop in the value of the kingdom's imports...

Amman, Jordan--Jordan's exports to the European Union (EU) shot up 23.4 per cent during the first five months of 2023 to $192 million compared to $155 million for the same period last year. According to Jordan News Agency (Petra), foreign trade data issued by the Department of Statistics indicated an...

The UAE's firm signed an agreement with Iberdrola to co-invest in the 476-megawatt Baltic Eagle offshore wind farm in the German Baltic Sea. The Spanish company will have a majority stake of 51 percent in the investment, which will accelerate green-energy security in Europe. Iberdrola will control and manage the...

Its net profit for H1 of 2023 jumped to US$169 million.

The president met with a string of leaders from the Arab world and the European Union and discussed ways to deepen partnerships with these countries. During the meetings, Sheikh Mohamed explored ways with the leaders to support and develop these relations for the benefit of the people of all countries...

Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just last year alone, the country received $29.78 billion in foreign investments, resulting in 13,972 jobs across sectors such as business services, technology, financial services and other industries. Investment Promotion Agency...

It will export annually up to 1.2m metric tonnes of LNG.

The net profit shot up to US$538m in H1 of 2023.

Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of the Free Trade Agreement (FTA) negotiations. In this regard the two sides signed a joint statement on the sidelines of the meeting held here today between Fumio Kishida, Prime Minister...

Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in the kingdom. In this connection, Jordanian Minister of Planning and International Cooperation Zina Toukan and World Bank Country Director for the Middle East Department Jean-Christophe Carret signed Sunday the agreement....

Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries in a meeting in Dubai. The officials from the consulate expressed appreciation for Dubai Customs and its role in collaborating with international customs authorities and organizations to combat drug smuggling...

The two countries resolved to finalize a deal over Ethiopia's big dam on the Blue Nile in four months, a breakthrough after years of bickering between the two countries. The huge $4.2 billion dam has been at the heart of a regional dispute since Ethiopia broke ground on the project...

A minority stake in Breakwater Energy cost it US$100m.

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953 million from its digital channels. The company has also recorded 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate. The company also reported a...

Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months. Speaking at the second ministerial session of the 8th OPEC International Seminar entitled “Investments, finance and inclusive petroleum growth strategies” at the Austrian capital, Iran’s oil minister Javad Owji said...

Its net profit dropped 21% to US$1.21bn in 2022-2023.

Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of its ambitious $1.8 billion offshore exploration program. According to Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources, the country is developing several exp fields in the Mediterranean Sea,...

Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch of the first phase of the plant at Warsan. Speaking at the site, the crown prince of Dubai said that the emirate has steadily expanded its capacity to produce energy...

Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end of this year. According to Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., the UAE's ultra-high-net-worth individuals (UHNWI) demographic is projected to grow at a compound annual growth...

Manama, Bahrain--The Electricity and Water Authority (EWA) of Bahrain has invited bids for a $53.19 million tender to upgrade the Ras Abu Jarjour reverse osmosis desalination plant. International companies vying for the project will be required to submit their competitive technical and financial bid, within the latest international standards, said...

Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according to US Energy Information Administration (EIA) estimate. OPEC members earned about $888 billion in net oil export revenue last year. That’s what the US Energy Information Administration (EIA) estimates in...

Muscat, Oman--Oman's gross domestic product (GDP) at constant prices recorded an increase of 4.7 per cent to reach $22.59 billion at the end of the first quarter of 2023. The GDP at constant price was $21.71 billion in the first quarter of 2022, according to the initial data issued by...

Washington, United States--One year after its ruling to erase abortion rights, the conservative-dominated US Supreme Court has underscored its determination to push society sharply to the right by scrapping long-established progressive policies. In emphatic rulings this week the court banned universities from giving minorities priority in admissions -- so-called "affirmative action"...

Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the value of the kingdom's exports to the countries surging to about $1.16 billion, compared to about $1.07 billion for the same period last year, according to foreign trade data issued...

A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France. Last year, France, Germany and Luxembourg seized assets worth $130mn in a move linked to a probe into Salameh's wealth. He is accused of having amassed a fortune during his...

Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational drug trafficking ring, and arrested 597 suspects, in a wide operation spread over many continents, dealing a big blow to organized criminal groups trafficking in drugs. The ISA, a working...

Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries. The companies from Abu Dhabi that will take part in the event include...

Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply system and reduce water loss in Bani Kinanah district north of Jordan. The project is intended to improve the quality of drinking water in the targeted districts and reduce water...

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens in order to lift up their standard of living. In this connection, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu...

Dubai, UAE--The Dubai Police and Dubai Islamic Bank (DIB) have signed an agreement to back the social initiative, "Bayti", with $5.44 million to support people with low-income in home construction and furnishing. The ‘Bayti’ initiative was recently launched by Dubai Police General Command, the Department of Islamic Affairs and Charitable...

The energy company will pay US$462 million for the buyout.

Abu Dhabi, UAE--Gross assets of the Sharia-compliant banks in the UAE climbed to $177 billion by the end of the first quarter of 2023, an annual increase of 7.31 percent against about $165 billion in March 2022, according to figures by the Central Bank of the UAE (CBUAE). The apex...

The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the UAE has inked so far. As the agreements take effect, a new phase of trade exchange commences that promises a substantial boost in quality and quantity, expanding the global trade...

According to a report by the FAO, the world food import bill is forecast to touch a new record this year, although it is estimated to grow at a much slower pace compared to last year. This at a time when surging world prices fueled by higher quotations for fruits,...

London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between the two nations have been significantly growing, a senior British official said on Friday. Lord Tariq Ahmad, the British Minister of State for the Middle East, North Africa and South...

Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up to 13, with a total capital of US$2.24 billion, according to the Securities and Commodities Authority (SCA). In a recent report, the SCA said that the companies are divided into...

Dubai, UAE-- Dubai Airshow 2023 will show off the latest trends in the advanced aerial mobility (AAM) market as disruptive methods of aerial transportation are becoming the future of aviation. Set to take place from 13-17 November 2023 at Dubai World Central, Dubai Airshow Site, the show will give a...

Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small and medium enterprises in the two countries' markets. In this connection, Abdullah bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Lee Young, Minister of SMEs and...