The bank said it would buy back shares and pay dividends.

The company expects Q3 profits to fall nearly 80% to US$1.8bn.

BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023, a new analysis shows, highlighting the effects of climate change. The research by renewable energy think tank Ember argues the drop is a "warning shot that hydro output could negatively...

Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month of last year, according to the country’s National Center for Statistics and Information.  But compared with the previous month, Oman’s inflation rate sunk to its lowest level in 28 months...

Its net profit for H1 of 2023 stood at US$11.70 million.

Profits fell on lower refining margins, natural gas prices.

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

Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to a study undertaken by the Ministry of Climate Change and Environment (MOCCAE), in collaboration with entities involved in power generation. The study focused on measuring the intensity of nitrogen oxide...

The aluminium giant's profit fell 68% to US$126.2mn.

In the wake of reporting a drop in profit during the first three months of the year, the bank aims to cut down its headcount nearly 4 percent after ending March with more than 82,000 employees, according to reports. The bank suffered a 20 percent profit drop amid a slowdown...

Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering a 9.2% fall compared with the same period of the year before. Data released by Eurostat show Germany was the top trading partner of Iran in the EU region during...

Its net profit recorded a drastic drop to US$5.2 billion.

Firm said non-monetary factors played a role in earnings.

Profit was affected as demand for steel fell and production hit.

The decline came amid reports of economic slowdown.

Dubai, UAE—Dubai Police has recorded a 65 percent drop in the number of criminal reports during the third quarter of 2022 compared to the same period last year. These statistics were revealed during the quarterly appraisal meeting of the General Department of Criminal Investigations (CID), which was chaired by Lieutenant...

The Saudi firm's net profit rose 10% to $372m.

The profit declined to $114m with its stock sliding too.

Gazelles at an Iraqi wildlife reserve are dropping dead from hunger, making them the latest victims in a country where climate change is compounding hardships after years of war.

The use of tobacco by people across the world has gone down, and the Middle East has been no exception, where many users have kicked the habit.

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks. The rupee fell past its previous record low of 76.98 against the US dollar in March to 77.56 on Monday.

Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that seek to tackle sky-high inflation. The pound hit a two-year low at $1.2276, one day after the Bank of England (BoE) lifted UK borrowing costs to a 13-year peak and...

European car sales sank in March as Russia's invasion of Ukraine added more problems to a sector already struggling with shortages of semiconductors, industry data showed Wednesday. Passenger car registrations fell 20.5 percent compared to the same period last year, with 844,187 units sold, according to the European Automobile Manufacturers'...

Arabian International Healthcare Holding Co., also known as Tibbiyah, has posted a fourteen percent drop in net profit to $21 million in 2021.

In a waterfront Istanbul neighborhood that once buzzed with cafe and pub life, there are now only empty tables after nearly 50 percent tax hikes on alcohol.

Foreign currency reserves of Saudi Arabia dipped nearly two percent in December, according to preliminary data shared by the Saudi Central Bank (SAMA).

The Turkish lira plunged to record lows against the dollar on Tuesday after President Recep Tayyip Erdogan said policymakers have no appetite to hike interest rates in response to the currency's fall.

The Turkish lira sank further on Thursday as the central bank slashed interest rates for the third consecutive month following pressure to do so from President Recep Tayyip Erdogan.

Mashreq Bank, the UAE lender, has seen its net profit drop off by a quarter in the first nine months of the year despite a strong growth in operating income.

Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the first nine months of 2021.

Foreign investment in the oil sector of Egypt has dropped 26.02 percent to $5.4 billion in the current financial years, compared to $7.3 billion a year before.

A drop in Saudi joblessness during the second quarter of the current fiscal year from 11.7 percent to 11.3 percent is seen as a sign of a healing economy, according to investment bank Jadwa.

Oman has suffered a sharp decline in its total actual revenues, falling a staggering twenty percent to $22.1 billion in 2020.

Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.

Although its supply of crude oil fell ten percent on the month, Saudi Arabia still continued to be China’s top crude oil supplier for the ninth month in July, while Russian imports slipped by just 4 percent.

    The drop was helped by reports that Chinese oil-imports stood at a five-month low China's crude imports were down 14.6 percent in May, from a high level a year earlier     Oil prices fell on Tuesday as concerns about the fragile state of the global recovery in...