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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.

East Pipes of KSA gets $133m financing

Ahead of listing, the pipes manufacturer had raised SR504 million of proceeds from an initial public offering.
  • The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing
  • East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes

East Pipes of Saudi Arabia has secured a Shariah-compliant working capital financing of $133 million from Bank Albilad.

The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing.

East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes, with a production capacity of up to 500,000 tons of pipes annually that are used to transport water, oil and gas.,

Ahead of listing, the pipes manufacturer had raised SR504 million of proceeds from an initial public offering.