GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks hitting a record $1.9 trillion.

SABIC's board cleared an 18 percent cash dividend at $0.48 per share.

The firm reported a 6% increase in group revenues.

The company's revenue for the quarter was $5.2 billion.

The company reports its worst quarterly profits in 14 years.

Analysts polled by the Swiss financial newswire AWP expected UBS's first quarter net profit to tick in at around $1.7 billion, down from $2.1 billion a year ago. Though it managed to rack up a $1.0 billion net profit for the first three months of 2023, UBS said it had...

The company reported financial results for 3 months ended March 31

The net income after tax rose from $195.3m to $314.5m.

Higher oil prices and sales volumes led to the rise.

DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent to reach 9.4 billion compared to 8.7 billion SAR in the corresponding period last year, Saudi Central Bank SAMA said. GWP is used to measure an insurance’s company’s revenue health....

The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19 restrictions.

Higher oil prices and a recovery in demand, easing of COVID-19 curbs, vaccination campaigns, stimulus measures, and accelerating activity in key markets also aided in the rise.

National Bank of Fujairah has posted a net profit of AED 76.2 million ($20.75 million) for the first half of 2021