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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.
  • Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech

    BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...

    The company also said it would integrate AI startup Deepseek's software into its cars, following domestic peers such as Geely, Great Wall Motors, and Leapmotor

    BYD is Tesla's biggest rival in China and increasingly abroad, and Monday evening's announcement led analysts to suggest a new price war might be on the horizon

  • Government chiefs and tech leaders gather in Paris for AI summit

    Political and tech industry leaders were set to descend on Paris Monday for a two-day summit on artificial intelligence, hoping...

    Macron announces US$113 billion investments in AI in coming years in France

    China is opening an investigation into monopolistic practices by Google

  • Maaden raises $1.25bn in sukuk offering

    The Sukuk were offered in a five-year and a 10-year tranche.

    The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.

    Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.

  • UAE announces top-up tax for multinational enterprises

    Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...

    The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more

    To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities

  • Big Tech’s AI spending rattles markets

    Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....

    Meta's stock surged 18 percent in January as investors endorsed its AI strategy

    Amazon forecasts 5-9 percent growth in Q1 2025, with sales between US$151 and US$155.5 billion

  • Exclusive: Green investments lead to tangible returns, says WEF’s Philips 

    Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...

    Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips tells TRENDS

    Technology plays a crucial role in sustainability, enabling energy-efficient operations, smart city connectivity, and digital waste tracking

  • UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn

    Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...

    He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.

    Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.

  • DAE net profit up 36.2%

    Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

    Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.

    DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).

  • Dubai airport clocks record 92.3 million passengers

    A record 92.3 million passengers travelled through Dubai's international airport last year, its operator said on Thursday, extending a post-pandemic...

    The UAE has now been ranked as the world's busiest international air hub for a decade

    The airport was targeting 400 international destinations, up from 272 currently

  • Borouge 2024 net profit $1.24bn

    The company said it will maintain a $1.3bn dividend for 2025.

    EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.

    Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.