Washington, UAE -- Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm)...
Houthi rebels lose a key district days after UAE attack
Yemen's Houthi rebels were driven out of a key district by the United Arab Emirates-trained Giants Brigade, the militia said Tuesday, a day after the insurgents' latest missile attack on Abu Dhabi.
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’ weighed heavily on investors’ minds.
Emirates expects to return to profit in ‘next 18 months’ as losses drop by half
Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the Covid pandemic, its president Tim Clark said Tuesday. The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from...
Pakistan party falls flat after semi-final cricket loss
The national mood was summed up by Prime Minister and former captain Imran Khan who said the side should be proud.
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.Emirates narrows H1 losses to $1.6bn
The group’s net loss for the period was AED5.7 billion ($1.6 billion), substantially better than the AED14.1 billion ($3.8 billion) loss last year.
SoftBank posts $3.5bn loss
This is its first quarterly loss since January-March 2020.
Al-Ahli Bank of Kuwait net profit $69.6 mn
The bank suffered a net loss of KD 7.9 mn in first nine months of 2020.
Retail detail: New malls come up in UAE, Saudi Arabia
Even as the pandemic would affect businesses, the mall owners are so confident of staying afloat that they are going ahead with their plans to expand their operations.
Union Properties posts a total profit of AED 32 million in H1
The company witnessed a positive shift in many business activities in the UAE in general and in Dubai in particular, says Khalifa Hassan Al Hammadi, Chairman Board of Directors
Dana Gas reports $139m net profit in H1
Dana Gas, the UAE-based energy producer, is out of woods with a big rise in its net profit to $139 million in the first half of this year.
Airlines suffer $126.4bn loss amidst Covid-19
Airlines across the world took a heavy beating from the Covid pandemic lockdown, posting on the whole net losses to the tune of $126.4 billion during 2020.
Saudi British Bank posts $245m net profit in Q2, year after big losses
A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable net profit of $245 million in the second quarter of 2021.
HSBC MENA’s pre-tax profit at $700m in H1
Economic recovery in the region helps the bank post $386 million profit in the June quarter.
