Today: 16 March 2025
2 September 2024
1 min read

Abdullah, GCC chief review regional developments

The UAE Top Diplomat commended the GCC General Secretariat for its efforts in fostering stronger regional and international cooperation…reports Asian Lite News

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, met today in Abu Dhabi with Jasem Mohamed AlBudaiwi, Secretary General of the Gulf Cooperation Council (GCC).

During the meeting, they discussed several topics related to the progress of Gulf cooperation drive, in addition to regional and international issues of mutual interest, notably the latest developments in the Middle East.

The UAE Top Diplomat commended the GCC General Secretariat for its efforts in fostering stronger regional and international cooperation among GCC states, aligned with their shared goals of comprehensive and sustainable development.

Sheikh Abdullah also affirmed the UAE’s commitment to supporting and enhancing the progress of cooperation between GCC states, to ensure prosperity and well-being for the peoples of the region’s countries.

The meeting was attended by Khalifa Shaheen Almarar, Minister of State.

Meanwhile, aggregate net profits reported by companies listed on GCC exchanges witnessed a healthy year on year (YoY) growth of 5.7percent during Q2-2024 led by a broad-based growth across most markets in the region.

Kamco Investment Company, a regional non-banking financial powerhouse headquartered in Kuwait, in its latest report, stated that the quarter on quarter (QoQ) growth came in at 8.1 percent with total net profits up for the second consecutive quarter to reach US$60.7 bn during Q2-2024 as compared to US$56.2 bn in Q1-2024 and US$57.4 bn in Q2-2023.

At the regional level, Dubai reported the second-biggest YoY growth in profits (after Bahrain) at 30.9 percent reaching US$6.7 bn during Q2-2024 mainly related to accounting adjustments and restructuring implemented by DSI.

According to the report, companies in Bahrain also reported double-digit YoY growth in profits during the quarter followed by low to mid-single digit profit growth for the rest of the GCC countries. The growth in profits also highlighted a broad-based double-digit increase in profits for most sectors in the GCC.

ALSO READ: Iraq PM Declares IS Defeated

Previous Story

UAE President, VP discuss national affairs

Next Story

UAE-BRICS ties set to foster global development

Latest from -Top News

Palestinians Seek Help to End Israeli Siege 

The Palestinian Ministry of National Economy: “We remind the entire world that Israel is refusing to allow the entry of basic health and humanitarian needs, especially water, electricity, and food, to the

Dubai Glows with Ramadan Spirit

The stunning displays are a key highlight of the second edition of the #RamadanInDubai campaign. Dubai has transformed into a dazzling spectacle of light and artistry in celebration of Ramadan, with grand

UAE Celebrates Emirati Children’s Day

The United Arab Emirates is celebrating Emirati Children’s Day today, reaffirming its dedication to nurturing a safe and supportive environment for the nation’s children. This annual occasion highlights the UAE’s commitment to

US pullback on Gaza plan welcomed 

The Hamas movement also responded positively, stating that the reversal was a welcome move….reports Asian Lite News Palestinian, Jordanian, and Egyptian officials have welcomed US President Donald Trump’s decision to abandon his

Can AI Transform the Future of India-GCC Ties? 

One area where AI can significantly enhance India-GCC cooperation is in the field of supply chain management and logistics. …writes Sudhanshu Kumar and Rashi Randev  Recently, a few months back, the External
Go toTop

Don't Miss

Al Maktoum Solar Park Breaks Two Guinness World Records

The records were achieved in the 950MW 4th phase of

LEGO initiates Global Campaign

The campaign is Built to encourage girls to embrace their