News

Mashreq opened the year with a steady surge in earnings, posting a net profit of AED1.927 billion for the first quarter of 2026—an 8 percent rise from a year earlier. Before taxes, profit reached AED2.28 billion, underlining a broadly positive start despite a shifting regional backdrop. Revenue growth kept pace with the upbeat performance. The …

Mashreq Starts 2026 on Firm Footing as Profit Climbs and Balance Sheet Expands Read More »

Credit Agricole Egypt opened the year on a softer note, with first-quarter earnings dipping as mounting provisions and a heavier tax bill clipped the bank’s bottom line. Net profit edged down 2.9% year-on-year to EGP 1.80 billion, even as the lender’s core business showed steady momentum. The drag came largely from a sharp spike in …

Profit Takes a Breather: Credit Agricole Egypt Feels the Weight of Rising Costs Read More »

Dubai’s financial heartbeat is thumping louder—and faster—at the start of 2026. The Dubai Financial Market (DFM) has opened the year with a sharp leap in profitability, as trading floors buzzed with activity and fresh money poured in from across the globe. Net profit before tax climbed to AED 193.3 million, a notable jump from AED …

Dubai’s Stock Exchange Roars Into 2026 With Profit Surge and Billion-Dirham Trading Days Read More »

A new chapter in Makkah’s evolving cityscape is taking shape, as Umm Al Qura for Development and Construction moves to introduce its first branded residences in partnership with luxury hospitality operator Kempinski Group. The project, named Kempinski Residences, will rise within the Masar Haram district — a central zone inside the wider Masar development. Plans …

Desert Skyline Gets a Signature Touch: Kempinski Branded Residences Set for Makkah Debut Read More »

Saudi chemicals heavyweight Saudi Basic Industries Corporation opened the year on a cautiously optimistic note, swinging back into the black after a bruising period—though the recovery comes with visible strains beneath the surface. For the first quarter, the company posted a modest net profit of SAR13.2 million, a sharp turnaround from the hefty loss recorded …

Profit Returns, But Pressure Lingers: SABIC’s Uneven Start to 2026 Read More »

Dubai’s lights are barely flickering anymore—and the numbers prove it. The Dubai Electricity and Water Authority has set a fresh global benchmark, trimming electricity customer minutes lost (CML) down to just 0.82 minutes a year—roughly 49 seconds. It’s not just a record; it’s an improvement on its own previous best, shaving off about 13% from …

49 Seconds of Darkness: Dubai Pushes Power Reliability to a New Extreme Read More »

The UAE’s central bank has opted for continuity over surprise, keeping its benchmark interest rate unchanged at 3.65%—a move that mirrors the steady stance taken by the US Federal Reserve. The decision keeps the Base Rate for the Overnight Deposit Facility right where it is, reinforcing a sense of predictability in the country’s financial environment. …

UAE Holds Its Monetary Nerve as Benchmark Rate Stays Put at 3.65% Read More »