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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.

  • Samsung profits plunge

    The company expects Q3 profits to fall nearly 80% to US$1.8bn.

    The company said in a statement that its operating profits for the July-September period will fall 77.9 percent to $1.8 billion

    Led by Samsung, South Korean chipmakers have enjoyed record profits in recent years as prices for their products soared

  • First wind turbines reach Saudi green hydrogen plant, says CEO

    RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...

    Around 30 turbines are expected to be delivered by the end of the year along with the project's first solar panels.

    The $8.4 billion NEOM green hydrogen plant is expected to reach full production by the end of 2026.

  • PIF sets up Tasaru Mobility Investments

    The firm will drive strategic investments and partnerships

    The company will focus on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.

    PIF has invested in the future of mobility, including establishing Saudi Arabia’s first national electric vehicle brand, Ceer, in partnership with Foxconn.

  • Belt and Road Initiative generated $2 trillion in contracts: China

    Beijing said Tuesday the value of signed construction contracts with partners now totaled two trillion dollars -- roughly the size...

    China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects globally

    Beijing's Silk Road Fund, established to help fund BRI projects, has "signed agreements on 75 projects with committed investment of about $22 billion"

  • Major equity markets up, oil dips after surge on Israel-Hamas conflict

    "Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary,"...

    Europe's main stock markets jumped more than 1.5 percent approaching the half-way stage, and after a largely upbeat session in Asia and overnight on Wall Street

    Oil prices dropped, having soared Monday after Hamas launched a deadly attack on Israel, stoking fear of spreading unrest in the crude-rich Middle East

  • ADNOC Drilling to pay $358m dividend

    The company's H1 revenue increased by 13% to $1.4 billion.

    Since listing on Abu Dhabi Securities Exchange, and including this latest interim dividend payment, the Company will have distributed $1.36 billion to shareholders.

    The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023.

  • Borouge signs supply pact with NPCC

    Borouge will also supply critical materials for UAE energy projects.

    Borouge and NPCC have previously partnered to provide steel pipe coating solutions for over 15,000 kilometers of pipelines in various local infrastructure projects.

    Borouge will supply materials for ADNOC Gas’ sales gas pipeline network enhancement (ESTIDAMA) program and Maximizing Ethane Recovery and Monetization (MERAM) project.

  • Delta suspends Israel flights through October 31

    The suspension of flights by the airline follows similar decisions by American Airlines, Air France, Lufthansa, Emirates and Ryanair and...

    The airline said that it has made a "difficult decision" to cancel our Tel Aviv flights

    Israeli flag carrier El Al said Sunday that it was maintaining its Tel Aviv flights for now

  • Masdar to invest $8bn to develop Malaysia’s clean energy transition

    Abu Dhabi, UAE - Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse will invest US$8 billion in...

    The project will include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems

    Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW

  • Evergrande shares begin trading

    The shares dropped nearly 9 percent at the close of trading.

    Evergrande Vehicle was the last to resume trade, one week later than Evergrande Group and Evergrande Property Services.

    Trading of all three Evergrande companies listed in Hong Kong was halted on September 28, after its founder Xu Jiayin was suspected of illegal crimes.