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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.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Aramco disburses in full international trust certificates for $6 billion sukuk

Saudi Aramco and technology behemoth IBM enter into a strategic partnership to create a hub for innovation in Saudi capital.
    • The company issued 30,000 sukuk with a par value of $200,000 each

    • The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk

    The Saudi oil giant, Aramco, has said that it completed disbursing international trust certificates for $6 billion of sukuk. The company issued 30,000 sukuk with a par value of $200,000 each, it said in a filing to the Tadawul stock exchange.

    “The outcome demonstrates further evidence of Aramco’s unique value proposition, which is underwritten by its operational and financial resilience,” said Aramco CEO and President Amin Nasser, reported Arab News.

    The securities were issued in three tranches, with the three-year notes paying 0.946 percent, 5-year notes at 2.602 percent and 10-year bonds 2.694 percent. The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk.

    Aramco’s debut $12 billion bond deal in 2019 was followed by an $8 billion, five-part transaction in November last year, both used to fund its dividend. The sale attracted orders exceeding $60 billion and added 100 new investors across the globe, Aramco said.