Kuwait sees 9% higher foreign reserve in February
The total value of Kuwait's foreign reserves rose by 8.57% year-on-year (YoY) to KWD 12.42 billion ($39.96 billion) in February…
Financial Results
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UAE telco Du reports 4.8% drop in year-on-year revenues for Q1
Emirates Integrated Telecommunications Company (EITC), Du, has announced a 4.8 percent drop in revenues to AED2.99 billion for the first…
Development bank APICORP increases callable capital to $8.5bln
The general assembly of Arab Petroleum Investments Corporation’s has ratified an increase in callable capital to $8.5 billion, from $1…
Italian exports to Qatar jump 27% in 2019, says envoy
Italy’s exports to Qatar stood at €1.3bn in 2019, registering a 27% year-on-year jump, making it Qatar's sixth main supplier…
Qatar’s real GDP growth forecast to bounce back in 2021April
Qatar’s real GDP growth has been forecast to bounce back next year with Oxford Economics saying it will grow by…
Emirates NBD first-quarter profit dives 24%
Dubai’s largest lender Emirates NBD said on Monday its first-quarter net profit declined 24% on-year due to higher provisions the…
Qatar- Ahlibank reports net profit of QR180.4m for first quarter
Ahli Bank (Ahlibank) has recorded a net profit of QR180.4m for the first three months of 2020, an increase of…
UAB's shareholders raise foreign ownership to 40%
The ordinary general meeting of United Arab Bank has approved raising the foreign ownership limit to 40%, setting the national…
Kuwait Syrian Holding posts 40% lower loss in 2019
Kuwait Syrian Holding Company’s net losses totalled KWD 345,017 ($1.11 million) in the fiscal year (FY) 2019 when compared to…
Mashreq Bank’s first quarter profit slides amid coronavirus pandemic
Mashreq Bank, the Dubai lender controlled by the Al Ghurair family, reported a 28 per cent drop in its first-quarter…
QIB posts 3-month profit of QR687.5mn
Qatar Islamic Bank has reported net profit of QR687.5mn for the first three months ended March 2020 and said its…
SoftBank's troubles deepen with warning of $16.7 billion writedown
SoftBank warned investors on Monday that the value of its technology fund may have dropped by as much as $16.7…