Search Site

Trends banner

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.

German chancellor to visit Saudi seeking energy support

German Chancellor Olaf Scholz will also visit the UAE and Qatar during the two-day trip. (AFP)
  • On Sunday, Scholz will meet with UAE President Sheikh Mohamed bin Zayed Al-Nahyan, and in the afternoon will hold talks with Qatari Emir Sheikh Tamim bin Hamad Al Thani.
  • German Economy Minister Robert Habeck already visited Qatar and the UAE in March in an effort to find alternatives to Russian gas,

Berlin, Germany – Chancellor Olaf Scholz will visit Saudi Arabia and meet Saudi Crown Prince Mohammed bin Salman as part of a Gulf trip, his spokesman said Monday, as Germany rushes to secure energy supplies.

Scholz, whose two-day trip next weekend will also take him to Qatar and the United Arab Emirates, becomes the latest Western leader to meet with the crown prince.

Accompanied by a business delegation, Scholz will visit Saudi Arabia on Saturday, where he will meet with the crown prince and — if his health permits it — King Salman, government spokesman Steffen Hebestreit said.

He did not go into detail about the reasons for Scholz’s Gulf visit but said he would be “very surprised” if the topic of energy was not discussed.

In July, French President Emmanuel Macron held talks with the crown prince in Paris, and US President Joe Biden visited the kingdom.

On Sunday, Scholz will head to the UAE and meet with President Sheikh Mohamed bin Zayed Al-Nahyan, and in the afternoon will hold talks with Qatari Emir Sheikh Tamim bin Hamad Al-Thani.

German Economy Minister Robert Habeck already visited Qatar and the UAE in March in an effort to find alternatives to Russian gas, which Germany has traditionally depended on heavily.

Russia’s decision to cut off supplies has triggered an energy crisis in Europe, with consumers and businesses facing soaring bills as winter approaches.

As a result, Europe and its allies urgently seek fresh sources of fossil fuels.