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Agility Global PLC Reports Q2 2025 EBIT of $97 Million

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KUWAIT / UAE: Aug 12: Agility Global PLC, a multi-business owner, operator and long-‎term investor, today reported Q2 2025 earnings of $24 million, or 0.24 cents per share. EBIT ‎grew 5% to $97 million, EBITDA increased 8% to $181 million, and revenue rose 8% to $1.2 ‎billion.‎

For the first six months period, earnings stood at $45 million, or 0.44 cents per share. EBIT grew ‎‎1% to $189 million, EBITDA increased 7% to $354 million, and revenue rose 12% to $2.3 billion.‎

As of June 30, 2025, Agility’s investment segment had a total asset value of approximately $5.5 ‎billion, and total assets value was $12.7 billion.‎

Agility Global Chairman, Tarek Sultan, said: “The Group delivered another quarter of healthy ‎operational performance, supported by continued organic growth across our core businesses. ‎We see robust growth in Menzies and Agility Logistics Parks. Tristar delivered steady top-line ‎growth and operational ramp-up; however, the lower-margin profile of this growth, compounded ‎by challenges in its Maritime segment, has limited its EBIT expansion. Nevertheless, our ‎operational momentum and underlying business fundamentals remain strong.”‎

Sultan added: “Our diversified portfolio, spanning critical logistics infrastructure across high ‎growth markets, enables us to navigate global economic headwinds effectively. We continue to ‎execute on our strategy, focusing on disciplined growth and value creation.”‎

Controlled Segment

For Q2 2025, the consolidated EBIT of the controlled businesses was $96 million; EBITDA was ‎‎$179 million; and revenue reached $1,200 million. For the six months, EBIT of the controlled ‎businesses was $174 million; EBITDA was $339 million; and revenue $2,343 million. ‎

Aviation Services: Menzies

Menzies Aviation revenue reached $691 million in Q2 2025, representing 9% growth over the ‎same period in 2024. The growth was mainly driven by increased volumes from new operations ‎in Portugal and Spain; ground handling yields improvements; and strong cargo volumes across ‎the regions excluding the impact of the closures of some non-profitable stations. In Q2, Menzies ‎Ground Handling and fueling operations serviced close to 1.5 million flights.‎

Over the same period, EBITDA and EBIT grew 13% and 24% with all divisions and service lines ‎showing growth. Improved EBITDA and EBIT margins indicate the business’s ability to leverage ‎its existing platform for growth. ‎

In Q2, Menzies expanded its executive lounge presence in Europe, adding a Pearl lounge in ‎Bratislava to the portfolio. ‎

Regulatory approval for the acquisition of 100% of US-based G2 Secure Staff is expected in ‎Q3.‎

Fuel Logistics: Tristar

Tristar, a fully integrated fuel logistics business, reported Q2 revenue of $346 million, EBITDA of ‎‎$64 million and EBIT $33 million. The 17.3% revenue growth over Q2 2024 was mainly driven by ‎the new retail fuel business in Sri Lanka, which began operations in the second half of 2024. ‎Although the retail fuel business is a low margin business today, Tristar is gaining a strong market ‎presence and expects profit margins to improve in 2026 as efficiencies are realized, and the ‎network expands. The maritime segment continued to face market headwinds during the ‎quarter, but management remains confident in the long-term potential of this segment.‎

Industrial Real Estate: Agility Logistics Parks (ALP)‎

Agility Logistics Parks recorded Q2 2025 revenue of $14 million, representing a 13% increase ‎from the same period last year. EBIT stood at $10 million.‎

Strong demand for warehousing in Saudi Arabia continues to drive occupancy rates above 90%, ‎particularly Riyadh. ALP’s ongoing development of 226K SQM of new warehousing space is ‎progressing and on schedule; some units have already been delivered, and the remainder are ‎scheduled for delivery during the remaining months of 2025.‎

The GCC warehousing sector is experiencing robust demand driven by e-commerce growth, ‎‎3PL expansion, and government-led industrial diversification programs. In Africa, ALP continues ‎to evaluate opportunities in high-growth logistics corridors, particularly in East Africa, where ‎demand for modern logistics infrastructure is underserved.‎

Investment Segment

As of June 30, 2025, Agility Global’s investment segment stood at $5.5 billion in asset value.‎

The segment’s key assets include stakes in DSV and Reem Mall.‎

‎●‎tDSV, Agility Global’s largest investment holding, delivered solid Q2 2025 performance, ‎underpinned by continued organic operational strength. The DB Schenker integration ‎remains largely on track. While the share price has been volatile over the period, we are ‎managing our equity collar with prudence to protect downside risk and restructure upside ‎potential in line with DSV’s intrinsic performance. Agility Global’s DSV investment value ‎has increased by 12% YTD.‎

‎●‎tAgility Global is an investor in Reem Mall on Abu Dhabi’s Reem Island, Abu Dhabi’s latest ‎signature shopping, dining, and entertainment family destination, spanning around 183.4K ‎sqm of Gross Leasable Area (GLA). Anchored by hypermarkets and notable ‎entertainment and home furnishing concepts, the mall will be home to around 400 ‎international and local brands. One of the prominent recent openings was Sharaf DG, an ‎expansive 3,334 sqm electronics retail space with 34 brand experience zones, making it ‎the largest store of its kind in Abu Dhabi. ‎

As of June 2025, roughly 66% of GLA was open and trading, with an additional 14% ‎under fit-out, for an effective GLA leased of 80%. As of July 2025, we have signed ‎proposals for an additional 4% of GLA. The mall recorded consecutive record-breaking ‎months for footfall and tenant sales in May and June where key metrics have increased ‎by 30% and 40% respectively.‎

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Global Economy Shows Signs of Improvement in Q2 2025: AEO

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Global Economy Shows Signs of Improvement in Q2 2025: AEO

Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), formerly known as OAPEC.

KUWAIT CITY, Aug 13: The global economy showed signs of relative improvement in the second quarter of 2025, driven primarily by accelerated spending on imports in anticipation of higher US tariffs, alongside a general improvement in global financial conditions. This was revealed by Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), in a statement to Kuwait News Agency (KUNA) on Wednesday, following the release of the organization’s second quarterly report on the global oil market.

Al-Loughani noted that the global economic growth rate forecast for 2025 was revised upward to 3%, compared to the earlier forecast of 2.8%. He attributed this positive shift to factors such as improved financial conditions and preemptive import spending. However, he cautioned that the lack of comprehensive trade agreements continues to stir concerns about the long-term impact of ongoing global trade uncertainties.

Despite this uptick in global growth, Al-Loughani pointed to a concerning 12.1% decline in the average spot prices of the OPEC basket of crudes, which fell to USD 67.4 per barrel during the second quarter. The prices of crude oil futures also recorded quarterly losses, with Brent crude and US West Texas Intermediate (WTI) falling by 10.8%, reaching $66.8 and $63.7 per barrel, respectively.

The AEO Secretary-General attributed the drop in oil prices to several factors, including shifts in US trade policy, growing concerns about a potential slowdown in global economic growth, and weaker oil demand. Additionally, he mentioned that the downgrade of the US sovereign credit rating due to rising government debt and a slowdown in China’s industrial production and retail sales further dampened investor sentiment.

Global oil supplies showed a slight increase, rising by 0.4% compared to the previous quarter, reaching 104 million barrels per day. This uptick was largely due to increased output from OPEC+ nations and the United States. On the demand side, however, global oil consumption saw a modest decline of 0.03% quarter-on-quarter, influenced by weaker demand from China and other Asian countries.

OPEC member states experienced a 9.5% decrease in crude oil exports during the second quarter of 2025, dropping to approximately $100 billion. This drop in revenue was primarily attributed to falling oil prices. Al-Loughani noted that these developments had a direct impact on the economic performance of member states, with a decline in oil revenues negatively affecting public finances and external accounts.

Despite these challenges, he emphasized that OPEC member states continued to pursue economic reforms aimed at reducing inflation, stimulating investment, and boosting labor market growth. Furthermore, the non-oil sector provided some support to these economies, helping to mitigate the overall economic impact.

Looking ahead, Al-Loughani expressed optimism for the continued growth of the oil sector, particularly with the OPEC+ decision to implement additional voluntary cuts in April and November 2023. These cuts are set to gradually increase production, reaching 411,000 barrels per day in July, 548,000 barrels per day in August, and 457,000 barrels per day in September. This increase in oil production is expected to positively affect oil revenues, which remain a crucial source of national income for member states.

Despite these positive steps, Al-Loughani warned that the global oil market remains surrounded by uncertainty. While OPEC forecasts indicate a decline in oil supplies from non-OPEC+ countries in the third quarter of 2025, global oil demand is expected to rise to approximately 105.5 million barrels per day. These projections, however, remain speculative due to several ongoing uncertainties, including escalating global trade tensions, geopolitical risks in the Middle East and Eastern Europe, and concerns over global economic growth.

Al-Loughani praised the continued efforts by OPEC+ countries, including six members of the Arab Energy Organization, to maintain balance and stability in the global oil market. These ongoing precautionary measures are aimed at ensuring the oil market remains resilient amid global economic and geopolitical challenges.

While the global economy has shown signs of recovery in the second quarter of 2025, the outlook for the oil market remains volatile, with both supply and demand factors contributing to continued uncertainty.

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Gulf Bank Concludes Successful Participation in University Admission Fairs at ‎Kuwait University and Abdullah Al-Salem University

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KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti ‎youth, Gulf Bank has successfully concluded its distinguished participation in the ‎university admission fairs at Kuwait University and Abdullah Al-Salem University. The ‎Bank actively engaged with new students, introducing them to its tailored banking ‎solutions designed specifically for young people.‎

Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah ‎Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth ‎attracted a high turnout from students and parents, who showed great interest in the ‎banking services designed for university students.‎

Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem ‎University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence ‎featured direct interaction with visitors, providing comprehensive information on ‎student accounts and other tailored services.‎

These participations are part of Gulf Bank’s continuous efforts to strengthen ‎engagement with youth and support them in the early stages of their academic journey. ‎Alongside sharing information on academic majors and admission processes, the ‎Bank also offered financial tips to help students manage their resources effectively ‎from the start of their university life.‎

At both events, Gulf Bank showcased its red account, one of its leading banking ‎solutions designed for customers aged 15 to 25. The account offers a wide range of ‎benefits, including prepaid cards, exclusive discounts, rewards on purchases, and ‎access to unique events and experiences that enrich both personal and professional ‎growth. ‎

Beyond its features, the red account serves as a platform to promote financial literacy ‎among youth, equipping them with the knowledge and skills to make informed ‎financial decisions early in life – positively shaping their future and fostering a ‎generation that is financially aware and capable of managing resources effectively.‎

Gulf Bank’s team expressed pride in supporting students throughout their high school ‎and university years, offering innovative banking services designed to keep pace with ‎their fast-paced lifestyles.‎

Gulf Bank concluded its participation by thanking the administrations of both ‎universities for organizing the fairs, which serve as valuable platforms to connect with ‎youth. The Bank reaffirmed its commitment to continuing its support for educational ‎and youth initiatives that contribute to Kuwait’s development and enhance the quality ‎of life for its students and community.‎

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Menzies Aviation set to expand MASIL operations at Mosul International Airport

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KUWAIT / LODNON, Aug 12:  Menzies Aviation, the leading service partner to the world’s airports ‎and airlines, has announced it will deliver ground, air cargo and fuelling services at Mosul ‎International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and ‎Al-Burhan Group.‎

One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new ‎‎10-year license, further strengthening its footprint in the region. This builds on MASIL’s ‎operations at Baghdad International Airport (BGW).‎

MASIL provided ground services for the presidential flight that signified the official reopening of ‎OSM. The flight, attended by Iraq’s Prime Minister Mohammed Shia’ Al Sudani, represented a ‎landmark moment in the airport’s history, which has been non-operational since 2014.‎

The milestone underscores the joint venture’s capabilities and readiness to support future air ‎traffic at the revitalised airport.‎

Mosul International Airport has undergone extensive reconstruction and is now equipped with a ‎main terminal, VIP lounge, and advanced radar surveillance system. The airport is expected to ‎be fully operational within the coming months, supporting both domestic and international flights ‎and handling an estimated 630,000 passengers annually.‎

The expansion marks a significant milestone in the continued growth of the MASIL joint venture ‎across Iraq and demonstrates Menzies’ commitment to supporting the country’s aviation ‎infrastructure and long-term development.‎

Charles Wyley, Executive Vice President Middle East, Africa and Asia, Menzies Aviation, ‎said: “We’re proud to expand our presence in Iraq with new operations at Mosul International ‎Airport through our MASIL joint venture. This is a major step in our journey to support the ‎redevelopment of Iraq’s aviation sector and bring world-class standards to the country’s airports. ‎Handling the presidential flight was a privilege and a clear signal of MASIL’s professionalism and ‎reliability as a trusted service provider.”‎

Menzies Aviation and Iraqi Airways formed MASIL in 2021 to provide ground handling, cargo, ‎and fuelling services. The joint venture includes operations at key airports including Baghdad and ‎will soon include Mosul, as it continues to support the modernisation of Iraq’s aviation sector.‎

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