Abu Dhabi National Energy Co (Taqa), the state-owned oil explorer and power supplier, said that first-quarter (Q1) net profit dropped 6.6 per cent from a year earlier to Dh256 million ($69.8 million) because of low oil prices.
The Boeing Company, a leading aircraft manufacturer, has reported a 38 per cent jump in its net income for the first quarter which soared to $1.3 billion from $965 million last year.
The aviation giant also reported an eight per cent in
Dubai Aerospace Enterprise (DAE), the largest aircraft leasing firm in the Middle East, reported a net income of Dh586 million ($159.5 million) for 2014, up 43 per cent from the same period the previous year.
Revenue for 2014 increased
Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, reported a 19 per cent jump in first-quarter net profit, broadly in line with analysts' forecasts.
The bank was one of three Islamic lenders i
Fixed-line monopoly Telecom Egypt on Tuesday reported a 31.4 per cent slump in profits for 2014, citing several one-off and operational costs related to license fee payments and tax liabilities.
It said net profit for the year fel
UAE-based Air Arabia, the largest low-cost carrier operating in the Mena region, announced that a nine per cent cash dividend for the year 2014 has been approved at its Annual General Meeting (AGM) today (March 10) in Sharjah.
Flydubai, a Dubai-based low cost carrier, has reported a 12.3 per cent increase in net profit for 2014, compared to 2013.
The budget carrier posted net profit earnings of Dh250 million ($68 million) with total revenue growing by 19.1 pe
UAE-based Etisalat, a leading telecom group, has reported Dh8.9 billion ($2.4 billion) in profit for 2014 driven by strong performance of domestic operations, marking a 26 per cent rise over the previous year.
Full year consolidat
Saudi Arabia's first and only budget airline, flynas, aims to turn profitable this year for the first time since it was launched in 2007, partly by cutting costs, its new chief executive said.
The kingdom's air travel mark
MasterCard , the world's No. 2 debit and credit card company, said worldwide purchase volume increased 12.1 per cent to $858 billion in local currency terms during the fourth quarter of 2014, marking a better-than-expected profit for the hol