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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.
  • Metaverse helps UAE boost growth, productivity

    Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the...

    Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the country focuses on innovation and talent development

    The Higher Committee for Future Technology and Digital Economy is set to make Dubai a leading hub for developing and using metaverse technologies worldwide

  • Qatar’s United Development Company and CBQ sign home loan deal

    Doha, Qatar - The United Development Company (UDC), a Qatari public shareholding company, signed a deal with The Commercial Bank...

    The UDC property buyers would be eligible to apply with Commercial Bank for a home loan worth 70% of the property value.

    The consumers are likely to be benefited from fast loan processing and flexible added-value options and payment plans.

  • Muscat Stock Exchange trading value up 5.5 percent in a week

    Muscat, Oman - The value of trading on the Muscat Stock Exchange increased last week to 9.6 million Omani riyals...

    The rise came at a time when investors tended to diversify their portfolios, taking advantage of the declines in stock prices.

    Trading data showed a decline in the prices of 40 securities last week, compared to 15 securities whose prices increased.

  • ISO Annual Meeting 2022 to begin Monday in UAE, trade on agenda

    The International Organization for Standardization (ISO) Annual Meeting 2022 starts Monday at the ADNOC Business Center in UAE's Abu Dhabi.

    Hosted by UAE Ministry of Industry and Advanced Technology (MoIAT), the ISO Annual Meeting 2022 runs from September 19 to 23.

    The event will witness the participation of over 2,000 delegates physically and virtually.

  • UAE health ministry inks pact with Mediclinic Middle East

    UAE Ministry of Health and Prevention (MoHAP) has signed a memorandum of cooperation (MoC) with Mediclinic Middle East to strengthen...

    UAE Ministry of Health and Mediclinic Middle East will cooperate in exchange of expertise and enhancing health research.

    Both entities will cooperate in organizing scientific conferences, training programs related to health research in the country.

  • DEWA CEO briefs Utah House of Representatives delegation

    MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified...

    Speaker of Utah House of Representatives Brad Wilson led the delegation to the UAE.

    The delegation want to learn about DEWA’s innovative development projects in the water, renewable and clean energy sectors.

  • Egypt to raise Suez Canal transit fees by 15 percent next year

    Cairo, Egypt-- Egypt plans to raise fees for ships passing through the Suez Canal by 15 percent in 2023, the...

    Canal Authority's Chairman Osama Rabie has said. transit fees for bulk and tourist ships will be raised by 10 percent from Jan 1, 2023

    The Canal’s revenue reached US$704 million in July after achieving its highest monthly transit rate of 2,103 ships, as well as monthly net tonnage of 125.1 million tons.

  • Sharjah Chamber suggests measures for strengthening PPPs

    The Sharjah Chamber of Commerce and Industry (SCCI) has recommended several measures to strengthen the emirate’s public-private partnerships (PPPs).

    The Cabinet to issue a federal law regulating partnerships between the federal authorities and the private sector in the UAE.

    In its meeting SCCI board of directors has ordered arrangements to be put in place to encourage public-private sector partnerships.

  • Walaa to merge with SABB

    The firm won the shareholders' approval for the merger.

    Walaa Insurance also received its shareholders’ approval to raise its share capital to $227 million, out of which 24 percent will go to SABB Takaful's shareholders

    The merger will be conducted through a share swap where Walaa will issue 0.6 shares against each share issued by SABB Takaful

  • Qatar deepens partnership with Iberdrola Innovation

    Qatar science and Technology Park (QSTP) has deepened its partnership with Iberdrola Innovation Middle East by signing an agreement to...

    The agreement was signed by QSTP Executive Director Yosouf Al Salehi and Managing Director of Iberdrola Innovation Middle East Santiago Banales

    Iberdrola aims to define the digital utility by developing innovative digital solutions for renewable energy integration, smart grids, and energy efficiency and conservation