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First Mills H1 net up 13.4pc to $32.8m; Q2 net jumps 30.4pcFirst Milling Company (First Mills), a market-leading Saudi milling company producing high-quality flour, animal feed, bran and wheat derivatives, has seen its first-half (H1) net profit rise 13.4% to SR123.2 million ($32.8 million). Effective cost management, More… |
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Kuwait’s inflation drops to 2.8% in June, lowest since 2020Kuwait’s inflation fell below 3% for the first time in nearly three years with CPI inflation dropping to 2.8% y/y (+0.2% m/m) in June, the slowest pace since November 2020 and from 3.2% in the previous month. Price rises in the food & beverages More… |
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UAE economic delegation to visit India this week to boost tiesA UAE economic delegation headed by Abdulla bin Touq Al Marri, Minister of Economy, and Chairman of Investopia, is visiting India this week to discuss boosting economic ties. The delegation, which includes Alia bint Abdulla Al Mazrouei, Minister of State for E More… |
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Sovereign investors turn to emerging markets as tensions riseGeopolitical tension has surpassed inflation as the primary concern of sovereign investors and is prompting greater interest in allocating to emerging markets, said the twelfth annual Invesco Global Sovereign Asset Management Study. Geopolitical tensions were More… |
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Kingdom, Sumou in deal to buy world's tallest tower projectKingdom Holding Company said it has signed an agreement with Sumou Holding to acquire the Alinma Jeddah Economic City Fund - valued at SAR6.8 billion ($1.8 billion). The Fund owns the tallest tower in the world coming up at Jeddah along with the 1.7 million sq m of land located adjacent to it More… |
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DIB leads landmark $3.25bn financing transaction for GEMSDubai Islamic Bank (DIB) announced that it has played a pivotal role in spearheading a landmark $3.25 billion financing facility for GEMS Education, the largest private K-12 education provider in the world. This transaction underscores DIB's leadersh More… |
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GCC bonds, sukuk issuance surges 38pc to $75bn for H1The GCC fixed income market has witnessed significant growth during the first half with the primary debt issuances of bonds and sukuk soaring to $75.5 billion from $54.8 billion last year, thus representing a 38% increase, according to a report by Kuwait Financial Centre (Markaz). More… |
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Kuwait's non-oil sector records solid growth in Q1, says reportThe non-oil sector in Kuwait witnessed solid growth in the first quarter with the non-oil GDP bouncing back with a strong 4.7% year-on-year increase after a 2.3% fall in the previous quarter, according to a report by National Bank of Kuwait. The improvem More… |
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ADCB H1 profit up 28pc; operating income hits $2.5bnAbu Dhabi Commercial Bank (ADCB) has registered solid growth for the first half of the year with its net profit before tax surging 28% year-on-year to hit AED5.023 billion ($1.36 billion), while its operating income rose to AED9.3 billion ($2.5 billion), up 17% over last year. More… |
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Middle East needs to take a cautious approach: Saxo BankSaxo Bank has advised a cautious approach for the Middle East, given the underlying fragility of the global economy. "The Q3 outlook reveals a complex financial landscape with significant implications for the Middle East. The region, heavily influenced by More… |
