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The UAE leads the GCC in female representation on public company boards, with women holding 14.8% of seats, a significant rise from 10.8% in 2024. This increase reflects a broader regional trend, as the GCC average reached 6.8% in January 2025, up from 5.2% the previous year. The progress highlights ongoing commitments to enhance gender diversity in corporate governance.
Lloyds Banking Group's shares fell 2.5% after first-quarter results slightly missed expectations due to higher costs and increased loan provisions. Pre-tax profit was 4% below consensus, impacted by £80 million in severance charges and £309 million in impairments, which included a buffer for tariff-related risks. Despite the dip in core capital ratio to 13.5%, the bank reaffirmed its 2025 guidance, maintaining confidence in its long-term outlook.
Ericsson and Nokia have cut approximately 20,000 jobs over two years as Huawei has expanded its presence in the 5G market, despite U.S. sanctions. Ericsson reduced its workforce by 12% to 93,000, while Nokia's staff decreased from 84,795 to 75,600, focusing on cost-saving measures. In contrast, Huawei has added 33,000 R&D roles, increasing its total workforce to 208,000, and maintaining product quality amid sanctions.
Shezlong, the first online therapy platform in MENA, has launched the region's first AI-powered therapy assistant, enhancing mental healthcare delivery. This innovative tool supports therapists and patients with analytics, personalized insights, and 24/7 assistance, aiming to improve access and outcomes in mental health services. The platform is set for a commercial rollout, backed by a new funding round to expand its reach into underserved markets.
Lloyds Banking Group reported total mortgage advances of £4.8bn in Q1 2025, driven by significant demand ahead of stamp duty changes. UK mortgages now account for £317.1bn of the balance sheet, reflecting a 4% year-on-year increase, while mortgage arrears remained stable at 0.25%. The group achieved an underlying profit of £1.53bn, down 13% from last year but up 54% from Q4, attributed to higher net income offset by increased operating costs and impairment charges.
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Lloyds Banking Group reported a statutory profit after tax of £1.1 billion for Q1 2025, down from £1.2 billion a year earlier, despite a 4% increase in net income. The bank maintained strong asset quality and growth in lending and deposits, with a CET1 ratio of 13.5%. Guidance for 2025 remains optimistic, expecting underlying net interest income of around £13.5 billion and a return on tangible equity of approximately 13.5%.
McDonald's has experienced an unexpected decline in store traffic as customers express concerns about the economy. The number of partners involved in their operations stands at 728, highlighting the extensive network supporting their services.
Credit Agricole SA reported a record revenue of EUR 7.3 billion for Q1 2025, marking a 6.6% increase, alongside a high return on tangible equity near 16% and improved solvency ratios. However, net income fell due to increased French taxes, and the retail banking division saw a slight revenue decline. The company is focusing on organic growth in consumer finance while navigating challenges in the competitive home loan market.
Raiffeisenkassen Wipptal celebrated a successful 2024, achieving a customer business volume of 971.2 million euros and demonstrating financial stability with an equity strength ratio of 19.6%. The cooperative allocated nearly 574,000 euros to community initiatives, emphasizing social responsibility and sustainability. Looking ahead, the bank aims for continued growth and investment in the Wipptal valley, with a focus on a strong, socially responsible future.
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