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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

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.

  • Qatar Central Bank issues treasury bills worth $137 million for a week

    Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...

    Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.

    Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.

  • UAE, Armenia ink 4 MoUs at joint business forum

    YEREVAN, ARMENIA  - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...

    A UAE delegation of around 100 representatives of government and private entities took part in the forum.

    In the first seven months of 2023, trade between UAE and Armenia was valued at US$870 million.

  • EDGE partners with Bulgarian firms

    It expects to fulfill growth plan through the partnerships.

    EDGE and TBS will seek collaboration through international trade expansion, knowledge transfer, research and development

    Its agreement with Samel-90 entails both to jointly identify business opportunities within multiple electronic development domains

  • Saudi Arabia seeks Chinese investment in mining, industry

    Beijing, China - Saudi Arabia is seeking Chinese investment in mining and industrial sectors. The Saudi Minister of Industry and...

    The Saudi side highlighted the goals of the National Strategy for Industry and the opportunities provided in various industrial sectors

    The meeting examined the measures, initiatives and incentives provided by the ministry to remove obstacles for investors

  • Saudi Arabia’s economy joins trillion-dollar club

    The Kingdom now ranks 17th in global economic rankings and 17th out of 64 countries for global economic competitiveness.

    The milestone was achieved ahead of the state's 2025 targets, accompanied by a remarkable growth rate of 8.7%, the highest among G20 nations

    Saudi Arabia now ranks 17th in global economic rankings and 17th out of 64 countries for global economic competitiveness

  • UAE-Saudi non-oil trade reaches US$159bn in 2018-22

    ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...

    The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.

    The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.

  • US and China seek improved ties via new working groups

    Chinese state broadcaster CCTV also announced the launch of an "Economic Working Group" and "Financial Working Group," saying both will...

    The formation of the groups was agreed during talks in July between US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng in Beijing.

    The Economic Working Group will discuss macroeconomic issues, while the Financial Working Group will focus on regulatory and financial stability issues.

  • Microsoft to acquire Activision Blizzard

    Activision Blizzard makes popular games like "Call of Duty".

    The transaction faced scrutiny from regulators in the United States as well as Britain, where the CMA blocked a similar deal in April.

    Activision Blizzard CEO Bobby Kotick said the UK regulator's announcement was "a significant milestone for the merger".

  • Dubai ranks fifth globally on key shipping development Index

    Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping...

    The city also ranked first in the Arab world for sea freight and logistics services on the 2023 International Shipping Centre Development (ISCD) Index.

    Dubai is the only Arab city on the list. Singapore, London, Shanghai and Hong Kong secured the top four ranks on the Index.

  • ADIB completes $750m sukuk redemption

    The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.

    ADIB redeemed them at the trustee call amount, equivalent to the prevailing face value of the certificates along with any outstanding payments as of September 20, 2023.

    Earlier in July 2023, ADIB had successfully raised an additional $750 million through the issuance of new additional tier-one (AT1) perpetual sukuk.