AGP Executive Report
Last update: 12 hours agoBanking: Al Salam Bank’s nine-month net profit rose 20.4% to $185.8 million, while Bank ABC’s fell 19% to $165 million as higher provisions weighed on earnings. NBB reported a 10% nine-month profit decline, partly reflecting last year’s one-off gain. Industry & Technology: stc Bahrain and ASRY have deployed the Kingdom’s first commercial private 5G network, enabling shipyard automation and AI-based industrial applications. Bapco Energies has also made its first fund investment through BeVentures, backing Kimmeridge Fund VII to explore natural gas and LNG opportunities. Corporate Results: Alba’s nine-month profit climbed 44.3% to $422.1 million, despite a 72.5% drop in third-quarter profit. Gulf Hotels’ nine-month profit fell 40% amid weaker travel demand. Regional Trade: A GCC railway agreement signed in Manama is set to improve passenger and freight links and support trade across the six states. Economic Outlook: Allianz Trade estimates the Gulf war’s economic losses could reach $790 billion by 2030, with Bahrain among the countries whose energy facilities were hit.
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