Monday 28 July 2014
 
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costs

Agility Q1 net profit up 11pc

Agility, a leading logistics group, has a reported a net profit of KD11.24 million ($40 million) for the first quarter, up 11 per cent compared to KD10.13 million the same last year as cost savings helped to offset lower revenues.

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Samba Q1 profit rises 7pc as costs drop

Samba Financial Group, Saudi Arabia's third-largest bank by market value, posted a 7.1 percent rise in first-quarter net profit on Tuesday, beating analyst forecasts as operating expenses fell. The bank said it made a profit o

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Thomson Reuters launches managed KYC service

Thomson Reuters has launched a new solution to support financial institutions and their clients to increase efficiency and reduce costs in complying with Know Your Customer (KYC) requirements. Accelus Org ID was developed in partn

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Siemens plans to cut 15,000 jobs

Siemens is to shed 15,000 jobs over the next year, a third of them in Germany, as part of a 6 billion euro ($8.1 billion) cost cutting program, a spokesman said on Sunday. The announcement comes two months after the ouster of Chie

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Reduced costs boost Riyad Bank profit

Riyad Bank, Saudi Arabia's third-largest lender by market value, posted a 5.9 percent rise in its second-quarter net profit on Thursday due to a slight rise in operating income and cuts in costs.   The bank s

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Arab Spring pushes reinsurance costs up 400pc

The cost of reinsurance has spiralled across the region by some 400 per cent since the advent of the Arab Spring and that is having a major impact on the insurance industry. That will be one of the key issues to be discussed at a

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Gulf Air cuts overall losses by 50pc in Q1

Gulf Air, the national carrier of Bahrain, reduced its overall losses by approximately 50 per cent in the first quarter of 2013 compared to the same period last year, realised principally through a 21 per cent fall in year-on-year expenditure.

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$6.9bn profit for StanChart; warns on costs

  Standard Chartered notched up a tenth successive rise in annual profit with a 1 percent gain that was capped by the bank's big fine for breaking US sanctions on Iran and rising regulatory costs.  

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Green energies becoming ‘least cost option’

Dramatic recent and projected falls in the costs of renewable energy are making it competitive with fossil fuels in countries across the world, and the least cost option in a growing number of markets, a report said. The falling c

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Gulf Air announces new growth strategy

Bahrain's flag carrier Gulf Air on Tuesday announced an accelerated strategy and a restructuring programme for transforming it into a more dynamic and efficient national carrier through key steps including boosting of Mena operations and poi

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