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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.

Dubai first half dhow trade up 21 percent: PCF Corporation

Wooden dhows ferried 1 million metric tons of merchandise from countries across the MENA region and beyond. (Dubai Media Office)
  • Since its establishment in July 2020 by Dubai’s Ports, Customs and Free Zone Corporation (PCFC), the emirate has witness a robust growth in dhow trade, PCFC said.
  • he Agency supervised the movement of 6,052 wooden dhows during H1 2022, which ferried 1 million metric tons of merchandise from countries across the MENA region and beyond.

Dubai, UAE–The Marine Agency for Wooden Dhows has facilitated the entry of more than 6,000 wooden dhows during H1, reflecting a 21 percent year-on-year growth.

Since its establishment in July 2020 by Dubai’s Ports, Customs and Free Zone Corporation (PCFC), the emirate has witness a robust growth in dhow trade, PCFC said.

Sultan Ahmed bin Sulayem, Chairman of the PCFC, said the Agency supervised the movement of 6,052 wooden dhows during the first half of 2022, which ferried 1 million metric tons of merchandise from countries across the MENA region and beyond.

He said the agency is keen to keep pace with the UAE’s vision to rejuvenate the use of dhows and consolidate Dubai’s position as a regional hub on the dhow trade map.

Bin Sulayem said that Dubai’s three wharfages – Dubai Creek, Deira Harbour and Al Hamriyah Port – play a key role in making the emirate a regional hub for dhows.

He said the Marine Agency for Wooden Dhows, which is exclusively responsible for regulating the activity of wooden dhow ships in Dubai waters, has simplified and expedited procedures related to the docking, departure, and clearance of merchandise of the vessels in Dubai.

Bin Sulayem said the Agency aims to streamline the procedures further to boost commercial dhow traffic and facilitate local and foreign merchants’ direct access to the local market.