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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.

  • Dragon Oil, Turkmennebit ink MoU

    Aim is to expand Dragon Oil’s investments in Turkmenistan.

    Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan on the basis of a production sharing agreement since 2000.

    The company’s primary focus is on the extraction of hydrocarbon resources in the Caspian Sea, in the Cheleken Contract Area.

  • Aramex partners with Bollywood film Dunki starring Shah Rukh Khan

    DUBAI, UAE - Aramex, a global provider of comprehensive logistics and transportation solutions, announced a collaboration with the movie, Dunki...

    The partnership marks Aramex as the official brand partner for the movie and is a showcase of the brand’s commitment to expanding its presence in India.

    In a scene from the film, Shah Rukh Khan’s character receives a package from Aramex at a hotel, putting a spotlight on the brand’s global delivery services.

  • Global maritime trade sails into geopolitical storm

    Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which...

    Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea for the "foreseeable future" after Yemeni rebels attacked its merchant ships

    Vessels are circumnavigating Africa via the Cape of Good Hope, which extends the journey between Asia and Europe by 10 to 20 days on average, said general manager of Ovrsea

  • Dubai Center for Family Businesses issues guidelines

    DUBAI, UAE –  The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...

    The ‘Sample Article of Association for Family Businesses’ outlines a set of options for companies to update their contracts.

    The Article of Association takes into account the requirements of family businesses who are registered as limited liability companies (LLCs).

  • Google Chrome begins restricting cookies in first step towards elimination

    Paris, France - Google has begun limiting third-party cookies for some users of its Chrome web browser, a first step towards...

    Cookies, small files which are used to target advertising by tracking web navigation, have recently been subject to greater regulation.

    Google announced in January 2020 that it would begin eliminating third-party cookies within two years, but the start has been delayed several times.

  • Tesla to recall 1.6m EVs in China

    China is a vital component in US-based Tesla's global layout.

    Problems related to assisted driving functions and door-locking systems are said to be the reason for the recall of cars

    The recall also includes 7,538 imported Tesla models made between October 26, 2022 and November 16, 2023

  • Dubai records $1.57 billion in weeklong real estate transactions

    Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were...

    The DLD weekly report said that114 plots were sold for AED 1.36 billion, 1,183 apartments and villas were sold for AED 3.13 billion.

    A total of 98 properties were granted between first-degree relatives worth AED 617 million.

  • PIF completes investment in MEPCO

    The sovereign wealth fund acquired 23% stake in the firm.

    MEPCO is a manufacturer specializing in the production and recycling of paper-based products in the Middle East and North Africa region.

    PIF aims to expand MEPCO production, enhance its operational efficiency, and support environmental sustainability, through recyclable products, including paper goods.

  • AD Ports to build passenger terminals at Egyptian Red Sea ports

    Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...

    According to the Egyptian ministry of transport, the contract entails AD Ports Group to develop yacht and cruise-ship tourism in Egypt

    The cruise lines will be operated between Zayed Port and Safaga, Hurghada and Sharm El-Sheikh and, later, Arabian Gulf ports, and Europe

  • Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars

    Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...

    The port's strategic location along the Red Sea coast, coupled with its infrastructure, has attracted global shipping lines

    It boasts high operational capabilities with wide approach channels accommodating larger vessels with berth depths up to 18 meters