SHARJAH / WAM Dana Gas announced its financial results for the first quarter that ended on March 31, declaring that net profit was up 150% in Q1 2019, reaching $35 million (AED128 million) as compared to $14 million (AED51 million) in Q1 2018. The higher net profit was principally due to an increase in Kurdistan Region of Iraq (KRI) production …

DUBAI / Emirates Business Islamic Banks in the Gulf Cooperation Council (GCC) are expected to show resilience over the next two years after weathering tough market conditions in 2018, said S&P Global Ratings in a report published on Monday. “In 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five years,” said S&P Global Ratings …

Bloomberg Oil tumbled towards $60 a barrel as President Donald Trump threw trade talks between the world’s two largest economies into disarray with a threat to raise tariffs on Chinese imports, roiling global markets. US crude pared losses after plunging as much as 3.1 percent in New York to the lowest level in five weeks. China was said to be …