World2h ago
GCC corporate profits surge to record $74.8bn as oil boosts earnings
RIYADH: Companies listed across the Gulf Cooperation Council posted a record $74.8 billion in net profits in the second quarter of 2026, up 31.3 percent year on year, driven by gains in the energy and banking sectors, according to an analysis. In its latest report, Kamco Invest said the rise in net profit also reflected higher average crude oil prices amid the regional geopolitical situation, which more than offset a decline in crude oil exports from the region. Compared with the previous thr
This story was originally reported by Arab News. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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