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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.

Etisalat to up stake in Mobily

  • Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent
  • The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5)

In order to expand its market size in Saudi Arabia, the UAE-based telecom firm Etisalat is looking to increase its stake in the Saudi subsidiary Etihad Etisalat Co., also known as Mobily.

Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent.

The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5), a bourse filing revealed.

This comes as Etisalat aims to expand its footprint in the Kingdom, and “deepen the strong existing ties with Mobily.”

The move paves the way for further future collaboration between the two telecom giants, the statement said.