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AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

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The Sukuk were offered in a five-year and a 10-year tranche.

Italy’s Prime Minister Giorgia Meloni begins Algeria visit

  • Meloni's predecessor Mario Draghi sealed a string of deals with Algeria's President Abdelmadjid Tebboune in July
  • Tebboune said the July deal was worth $4 billion, while an Algerian official said the country would also increase gas exports to Italy

Algiers, Algeria — Italian Prime Minister Giorgia Meloni and several ministers arrived in Algeria on Sunday, state media reported, ahead of meetings with top officials in the gas-exporting giant.

Prime Minister Aimene Benabderrahmane welcomed Meloni at Algiers’s main airport at the start of “a friendly working visit”, his office said.

She is the latest in a steady stream of European officials to visit since Russia invaded Ukraine in February last year.

Moscow’s move sparked Western sanctions and retaliatory Russian gas supply cuts that sent prices soaring.

Meloni’s predecessor Mario Draghi sealed a string of deals with Algeria’s President Abdelmadjid Tebboune in July.

Among them was an oil and gas production-sharing agreement between Algeria and several energy companies including Italian giant Eni, in a push to reduce Italy’s reliance on Russian supplies.

Tebboune said the deal was worth $4 billion, while an Algerian official said the country would also increase gas exports to Italy.

Meloni is set to meet Tebboune on Monday, according to Italy’s ANSA news agency.

Before the war in Ukraine, Italy imported 95 percent of the gas it consumed — about 40 percent of which came from Russia.

Rome has increasingly looked to Algeria, historically its second-biggest supplier, to help reduce that dependence.

Algeria, which has an undersea pipeline to Italy, is Africa’s biggest gas exporter.