Today: 3 June 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

India Signals FTA with Oman

The talks for the free trade pact with Oman started in November 2023, and Goyal visited the Gulf country from January 27 to January 28….reports Asian Lite News Commerce and Industry Minister

Syria Strikes $7b Deal

The agreements, signed in the presence of Syrian leader Ahmed al-Sharaa, mark a total investment of 7 billion U.S. dollars…reports Asian Lite News – Syria signed a series of memoranda of understanding

More Killings in Palestine

Israeli occupation forces opened fire directly at hundreds of civilians as they attempted to reach an aid distribution centre in the al-Mawasi area of western Rafah At least 31 Palestinians were killed

Hamas Open to Fresh Talks

The movement said that it is ready to “immediately begin a round of indirect negotiations” to address the outstanding issues…reports Asian Lite News Hamas affirmed its readiness to begin indirect negotiations over

UAE aid for Gaza in global focus

Titled Hope Remains, the documentary brings to light the UAE’s leading role in providing vital aid and support to the people of Gaza. The International Humanitarian and Philanthropic Council has released a
Go toTop

Don't Miss

OPEC: UAE’s Non-Oil Economy to Thrive in 2024

It also marked the strongest growth in the country’s non-oil

Japan Upbeat on Areas of Cooperation With UAE

Manabe referred to the March conference this year, which was