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

FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine unit were worse than previously thought. The group scrapped its full-year profit target and said it was setting aside more than US$1.1 billion (1 billion euros) over the coming years...

RIYADH, SAUDI ARABIA -  The combined profit of capital market institutions in Saudi Arabia dropped 19 percent to US$306 million (SAR 1.15 billion) in Q1 2023, from US$381 million (SAR 1.43 billion) in the same period last year, the Capital Market Authority (CMA) said in a recent report. Revenues fell...

Insurance services results in Q1 improved by US$55 million.

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

The countervailing movements, according to analysts, were evidence of a rotation away from the tech-dominated winners from the earliest part of 2023, and towards manufacturing companies like Caterpillar and Honeywell. "Money is flowing from one sector to another sector," said Adam Sarhan of 50 Park Investments. This dynamic "keeps the...

Dubai, UAE-- Airline industry is expected to clock net profits in the region of $9.8 billion in 2023, which is more than double the previous forecast of $4.7 billion, according to the International Air Transport Association's (IATA) outlook for 2023. Airline industry operating profits are expected to reach US$22.4 billion...

Dubai, UAE -- The Investment Corporation of Dubai (ICD) has posted a net profit of AED 36.1 billion ($9.8 billion) for 2022, compared to AED 10 billion in 2021 due to a surge in business activities and higher oil prices. The Group, which is the main investment arm of the...

Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will raise its foreign ownership limit to 100 percent. The company said that it had obtained the approval of the regulatory authorities to raise the percentage of foreign ownership from 49...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Dubai, UAE - UAE banks experienced a significant surge in profitability during the first quarter of 2023, according to the latest United Arab Emirates (UAE) Banking Pulse report released by global professional services firm Alvarez & Marsal (A&M).  The report highlights a 35 percent increase in profits compared to the...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Compared to the last quarter of 2022, net profit fell by 1.4 percent

The company had posted a loss of 3.2 million riyals the previous year.

Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of 2023, from SAR 186.24 billion ($49.66 billion) in the same quarter in 2022 to SAR 145.72 billion this year. Argaam reported the decline in net profit was due to a...

The firm's net profit in Q1 2022 was $1.57bn versus $46m in Q1 23.

The company posted a net profit of $111 million.

This amounts to cash dividend of 54 percent (54 fils per share)

The profit rose to US$22mn on the back of higher revenue.

Its profit vaulted to US$150 million in Q1 of 2023

Salik recorded the highest level of quarterly revenue-generating trips.

Tabreed's total connected capacity rose to 1.276 million RT.

Firm said the profit was driven by higher prices for policies.

The net profit increased by 17 percent in Q1 compared to Q1 2022,

The group declared a dividend of $1.2 billion to its owner.

The company sold 3.16 million vehicles for the year to march 2023.

This is the company's highest-ever quarterly revenue.

Revenues for the first quarter increased by 5 percent over Q1 2022.

The firm's net profit soared to US$27.14mn in Q1 of 2023.

The company posted Q1 revenue of US$299 million.

Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion for the first quarter of 2023. This represents a decrease of 10.04 percent from the same period last year, where the net profit was $3.85 billion. The industries sector saw...

Net income increased by 35 percent during the quarter.

The insurance firm's net profit fell to US$12.36 million.

The first quarter customer deposits increased by 17% on Q1 2022.

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

Revenues also grew significantly to reach $3.26 bn.

The company posted a 5.7 percent year-on-year growth in net profit.

The company expects Q2 margins to remain under pressure.

Muscat, Oman -- ahlibank of Oman has reported a profit of 8.4 million RO ($21.84 million) in the first quarter of 2023, an 11.1 percent increase over the same period in 2022. The customer deposits grew by 7.3 percent, reaching RO 2.33 billion during the first quarter, compared to the...

The company's profits came in at $1.8 billion.

The firm recorded a jump in the net profit to US$3.73mn.

Its consolidated revenues rise to US$3.53bn in Q1 of 2023.

Profit fell on declining COVID-19 vaccine revenues.

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...

Its net profit soared 33% to US$7.49mn for Q1 of 2023.

The first-quarter profit increased by 30% compared to Q1 2022.

The airline's revenues were $12.2 billion, up 37 percent.

The total assets grew by 4% to reach AED 77.9bn ($21.21bn)

The bank's return on assets improved marginally to 1 percent.

The bank's operating profit rose by 35.7 percent compared with Q1 2022.