Business

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Business

Saudi Aramco reports bumper profits as it bypasses Strait of Hormuz

Saudi Aramco has reported a significant profit increase of 33% in the second quarter of this year, reaching $33.4 billion. This surge is attributed to the ongoing US-Israeli conflict with Iran, which has led to higher energy prices. The company's ability to bypass the Strait of Hormuz through its oil pipeline has also contributed to its success. Despite a ceasefire between the US and Iran, tensions remain high, affecting energy shipments from neighboring Gulf states. The rising prices of oil and refined products are impacting the broader region's economy.

Middle East EyeSaudi ArabiaAdded 13 days ago

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Business

S&P Global Ratings upgrades Pakistan's sovereign credit rating to 'B'

S&P Global Ratings has upgraded Pakistan's long-term sovereign credit rating from 'B-' to 'B', indicating an improving economic situation. This upgrade reflects better institutional stability and the successful implementation of reforms under the International Monetary Fund (IMF) program. The stable outlook suggests that Pakistan is becoming more attractive to foreign investors, as it can meet its debt obligations more easily. The upgrade is expected to help the country attract more foreign investment and improve its financial health overall.

DawnPakistanAdded 26 days ago

Business

Aramco reports higher revenue as US-Iran war boosts oil prices

Saudi Aramco has reported a significant increase in its net income for the second quarter of 2026, rising by 44% to $32.7 billion. This surge is attributed to the ongoing US-Iran conflict, which has driven global oil prices higher and disrupted supply chains in the region. The company's total net income for the first half of the year also saw a rise, reaching $65.2 billion. Aramco's leadership highlighted that the geopolitical tensions have played a crucial role in shaping their financial performance during this period.

Middle East MonitorSaudi ArabiaAdded 13 days ago

Business

Türkiye to remain major global sukuk, emerging market debt issuer: Fitch

Fitch Ratings has projected that Türkiye will continue to be a significant player in the global sukuk market and emerging market debt this year. The country's debt capital market is expected to expand, indicating a strong demand for Islamic financial instruments. This development is important for investors interested in sukuk, which are compliant with Islamic law. Türkiye's position in this market could have implications for Muslim investors and the broader Islamic finance sector.

Daily SabahTurkeyAdded 13 days ago

Business

Pakistan, Iran reaffirm resolve to expand bilateral trade to $10bn

Pakistan and Iran are working to increase their bilateral trade to $10 billion, emphasizing their historic relationship. During a recent meeting of the Pak-Iran Joint Trade Committee, both countries discussed measures to facilitate trade, such as easing customs procedures and formalizing border trade routes. The commerce ministers of both nations highlighted the importance of finalizing a Free Trade Agreement and removing barriers to trade. They expressed optimism that these efforts would enhance economic cooperation and benefit both countries amidst ongoing regional tensions.

DawnPakistanAdded 13 days ago

Business

TotalEnergies profit doubles as Mideast conflict lifts oil prices

TotalEnergies, a major French oil and gas company, reported that its net profit doubled in the second quarter of 2026. This increase is attributed to rising hydrocarbon prices, which have been influenced by ongoing conflicts in the Middle East. The situation highlights how geopolitical tensions can impact global oil markets and, consequently, economies worldwide. The article sheds light on the intersection of business and international conflicts, which can have broader implications for Muslim communities affected by these conflicts.

Daily SabahFranceAdded 25 days ago

Business

Foreign real estate investment in Türkiye up amid Mideast tensions

The ongoing tensions in the Middle East have led to a significant increase in foreign real estate investments in Türkiye. Reports indicate that these investments rose by 28.3% during the months of March, April, and May. This trend reflects how geopolitical events can influence economic activities in the region. As Türkiye continues to be a key player in the Middle East, the rise in real estate investment may have broader implications for its economy and its relations with neighboring countries.

Daily SabahTurkeyAdded 1 month ago

Business

Iran’s oil exports top 80 million barrels in less than a month

Iran has successfully exported over 80 million barrels of crude oil and petroleum products in just 26 days, following a recent agreement with the United States. This surge in exports is valued at approximately 6 billion US dollars. Additionally, there are still around 30 million barrels awaiting shipment. If restrictions on oil production are imposed, Iran has the capacity to manage supplies with 60 million barrels of floating storage available in the region. This development is significant for Iran's economy and its position in the global oil market.

Middle East MonitorIranAdded 1 month ago

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