Alvarez & Marsal, a global professional services firm, has reported that Saudi Arabia’s top banks have maintained profitability and steady earnings growth despite global headwinds and rising interest rates. The report revealed that the Kingdom’s leading 10 banks collectively recorded 2.7% quarter-on-quarter growth in net profits during the first three months of the year, reaching SR17.3bn ($4.61bn). The boost in profitability was driven by significant growth in non-core income and a rise in cost efficiencies. The report further revealed that Saudi banks recorded a 4.7% growth in deposits and a 3.2% rise in loans and advances.
Saturday, October 28, 2023
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Erdogan Urges Israel to Cease Gaza Strikes, Calls for End to ‘Madness’ | TOME
ANKARA: Turkiye’s President Recep Tayyip Erdogan on Saturday called on Israel to “immediately stop this madness” and end its “attacks” on targets in Gaza after Israeli forces intensified strikes on the Palestinian territory.
“The Israeli bombardments on Gaza intensified last night and once again targeted women, children and innocent civilians and worsened the ongoing humanitarian crisis,” Erdogan said on X. “Israel must immediately stop this madness and end its attacks.”
Egypt road crash leaves 32 dead, dozens injured | TOME
The multi-car pileup in the Beheira region was reportedly caused by an oil leak.
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Egypt road crash leaves 32 dead, dozens injured | TOME
The multi-car pileup in the Beheira region was reportedly caused by an oil leak.
Hamas denies Israeli claim of hospital abuse | TOME
TEL AVIV: The Israeli army accused Hamas on Friday of abusing hospitals in the Gaza Strip for military purposes, as war rages in and around the Palestinian territory.
The allegation was swiftly denied by Hamas, and the main UN agency working in Gaza said earlier it had mechanisms in place to prevent aid being diverted.
“Hamas wages war from hospitals” in Gaza, military spokesman Daniel Hagari told journalists, adding that the group was also using fuel stored in hospitals to help carry out its operations.
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China Probes Foxconn’s Taxes and Land Use, Shares Slide | TOME
Apple supplier's shares dropped as much as 3 percent after report by China's state-owned Global Times.
Big Businesses Stay Silent on Israel-Hamas Conflict Amid Ukraine Outcry
Major brands that spoke out against Russia's invasion have been reluctant to weigh in on the Israel-Palestine conflict.
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