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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.

Emirates Dev. Bank, Beehive in pact to provide finance to small enterprises

    • Under the deal, Beehive will provide $8.16 million as loans to qualified businesses

    • Beehive uses crowdfunding to connect small businesses to retail investors

    Emirates Development Bank (EDB) has signed a deal with a Dubai-based peer-to-peer platform to give small to medium-sized enterprises (SMEs) more funding options. Under the deal, Dubai’s Beehive will distribute 30 million dirhams ($8.16 million) as loans to qualified businesses, with a focus on key sectors such as healthcare, manufacturing, food security and technology.

    It is part of the EDB’s push to help SMEs in the UAE significantly increase their contribution to the country’s economy. “The collaboration with Beehive is part of our mission to bridge the funding gap by offering SMEs greater and easier access to financial sources,” Ahmed Mohamed Al-Naqbi, the bank’s CEO, said in a statement.

    Beehive uses crowdfunding to connect small businesses, typically, to retail investors, but it has expanded to include institutional investors such as the EDB. “The addition of institutional investors to Beehive will give SMEs more secure financing and better liquidity on the platform, which means that funding can be received faster too,” its founder, Craig Moore, said