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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Investor sells his 2.4 stake in Abu Dhabi Commercial Bank for $300 million

    • The offering consisted of 164 million shares in the bank

    • The Abu Dhabi Investment Council is the largest shareholder in ADCB with a 60.2 percent stake

    An unnamed investor holding 2.4 percent stake in Abu Dhabi Commercial Bank (ADCB) has sold his entire stake in the lender for about 1.1 billion dirhams ($300 million).

    According to Bloomberg, the offering consists of 164 million shares in Abu Dhabi’s second-biggest bank, and the interest exceeds the size of the deal, according to terms. The seller wasn’t identified in the term sheet.

    The deal represents 2.4 percent of the bank’s market value, according to Asharq. The Abu Dhabi Investment Council is the largest shareholder in ADCB with a 60.2 percent stake.