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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

BP sees its profit triple to $9.3bn on back of high energy prices

BP's profits fell 79 percent in H1 2024. (AFP)
By TRENDS Desk AFP
August 2, 2022 4:02 pm
  • BP is the latest energy firm to post bumper earnings as oil and gas prices have soared following Russia's invasion of Ukraine
  • BP said in its earnings statement that it expects oil prices "to remain elevated in the third quarter due to ongoing disruption to Russian supply
British oil giant BP returned to profit in the second quarter on the back of soaring energy prices, following a big loss due to its exit from Russia over the war in Ukraine, company results showed Tuesday. 

 

The company reported a net profit of $9.3 billion a threefold increase from the same three-month period last year following a $20.4-billion loss in the first quarter.

BP is the latest energy firm to post bumper earnings as oil and gas prices have soared following Russia’s invasion of Ukraine.

British rival Shell reported last week a fivefold surge in second-quarter profit to $18 billion while France’s TotalEnergies raked in $6 billion over the same period.

BP said in its earnings statement that it expects oil prices “to remain elevated in the third quarter due to ongoing disruption to Russian supply, reduced levels of spare capacity and with inventory levels significantly below the five year average”.

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