RIYADH: Saudi Arabia’s top 10 listed banks saw their earnings surge by 8 percent in the first quarter of 2024, reaching SR18.65 billion ($5 billion) compared to the corresponding period of the previous year. The increase in earnings can be attributed to several factors, including an 11 percent growth in lending and a rising interest…
Trade between the two region grew at a CAGR of 8% Bilateral trade in goods between the GCC and Africa grew by a compound annual growth rate (CAGR) of eight per cent in the ten years to 2022, and looks set to remain intact in the years ahead, a study showed. According to a report…
STRESA: G7 finance leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to allow vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday.The statement, to be released at the end of a Group of Seven finance ministers and central bank…
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council for Energy, President of the Dubai Civil Aviation Authority, and Chairman and Chief Executive, Emirates Group, today inaugurated the 31st edition of the Middle East Petroleum & Gas Conference (MPGC). The conference, hosted by ENOC Group and organised by S&P Global…
RIYADH: Saudia Group has signed an order for an additional 105 A320neo family planes, marking the largest aircraft deal with Airbus in the Kingdom’s history. The $19 billion deal, announced at the Future Aviation Forum in Riyadh by Ibrahim Al-Omar, the director general of the group, includes A320neo and A321neo models. These aircraft will be…
In an extraordinary turn of fortune that seems destined to mold the life of the budding eight-year-old prodigy Ahmed Amin, he has received the invitation of honor from industry giant Masih Ullah Imtiaz of Imtiaz Developments. This is the most significant point of inflection in Ahmed’s life, as he has really set the life of…
RIYADH: The Gulf Cooperation Council aims to reduce reliance on oil revenues by implementing a comprehensive vision for economic diversification, as emphasized by its Secretary-General, Jasem Al-Budaiwi. During the Gulf Creatives Conference, organized by the Diwan at Harvard University in Cambridge, Massachusetts, Al-Budaiwi outlined a vision that embraces diverse sectoral reforms. These initiatives are aimed…
Parkin delivers its maiden results, following the successful IPO, with Q1 2024 EBITDA growth of 33% Parkin Company PJSC (“Parkin” or the “Company”), the largest provider of paid public parking facilities and services in Dubai, today reports its financial results for the first quarter ended 31 March 2024 (“Q1” or “first quarter”). Key Takeaways• Total…
RIYADH: An ambitious roadmap setting out how Saudi Arabia will grow its aviation sector tenfold into a $2 billion industry will be unveiled at a special event in May. The plans cover the business jet segment, including charter, private, and corporate aircrafts, and will support Saudi Arabia’s development as a global high-value enterprise and tourist…
Liam Findlay, CEO of Miral Destinations, a subsidiary of Miral and the operational partner for Yas Island and Saadiyat in Abu Dhabi, affirmed that Yas and Saadiyat Islands are enhancing Abu Dhabi’s leading position on the world’s best tourist destinations list. Findlay stated to the Emirates News Agency (WAM) on the sidelines of the Arabian…
