Investcorp swings to full-year loss amid pandemic but eyes $50bn in assets
Investcorp, the Bahrain-based alternative investment management firm, swung to a net loss in its 2020 fiscal year as fee income…
Financial Results
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UAE business conditions improve for the second month in July
The UAE non-oil private sector registered a further recovery in business conditions during July amid a greater easing of lockdown…
Saudi SAMBA posts 2.1% rise in Q2 profit on debt gains, fee income
Saudi lender Samba Financial Group posted a 2.1% rise in quarterly profit, helped by fair-value gains on debt and higher…
Waha Capital lowers net losses in H1-20
The financial results of Waha Capital showed net losses of AED 27.21 million in the first half (H1) of 2020,…
RAKBank reports Dh306m first half 2020 net profits
National Bank of Ras Al-Khaimah (RAKBank) on Wednesday reported a consolidated net profit of Dh306.6 million for the first half…
Bahrain's Investcorp records $165m loss for 2019-20 financial year
Bahrain’s Investcorp slipped into a $165 million loss for the 12 months ended June 30, against profits of $131 million…
Saudi banks’ investments in gov’t bonds down 4.6% in H1-20
Saudi banks have lowered their purchases of government bonds during the first half (H1) of 2020 by 4.6% year-on-year (YoY)…
Global oil demand outlook is improving but downside risks persist, says NBK
With the pandemic raging in large parts of the southern hemisphere and persisting in heavy oil consuming economies in the…
Saudi banks exceed maximum loan-to-deposit ratio in Q2-20
Deposits held by banks operating in Saudi Arabia grew by SAR 151.53 billion or 8.9% year-on-year (YoY) to SAR 1.843…
UAE gold jewellery demand drops in Q2
Gold jewellery demand in the UAE slumped 86 per cent in the second quarter to just 1.3 tonnes compared to…
Dubai Investments reports 42% drop in half yearly profits
Dubai Investments has investments in diversified sectors and markets across the globe, including real estate, industrial, finance, healthcare and education,…
Outlook: Weakening capital buffers could trigger negative rating on GCC insurers: S&P
The GCC insurance players avoided negative rating action due to strong capital buffers during the first wave of COVID-19. However,…