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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.
  • Egypt signs several MoUs with global developers in renewable energy

    Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...

    The agreements to set up geen hydrogen projects represent a new step or the Sovereign Fund of Egypt in its partnerships with global companies

    The green projects are expected bring in investments of $12bn for the pilot phase and $29bn for the first phase, for a total of $40bn over 10 years

  • Air France-KLM posts profit

    The airline reported record revenue of US$32.49bn in 2023.

    The airline also posted revenue of $32.49bn, while adding that it had returned to positive equity for the first time since 2019

    The airline alongwith subsidiary Transavia transported a total of 93.6 million passengers last year, up 10.3 million on 2022

  • Singapore’s Petrozo Energy setting up Sharjah base to target Middle East

    Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...

    Petrozo operates a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Bangladesh, the USA and other countries

    The company is renowned for its extensive portfolio, producing a variety of products including fuel oils, petrochemicals, bitumin and naphtha

  • QDB signs MoU with Global Ventures

    The collaboration is expected to boost private sector in Qatar.

    The two agreements align with the bank's initiatives to bolster the private sector and create investment opportunities

    The collaboration will enhance the provision of training programs and field training to equip investors and fund managers

  • Reliance, Disney announce giant India media merger

    The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent....

    India's entertainment market is already one of the world's biggest, with the merger expected to further shake up the multi-billion-dollar industry

    Reliance, an oil-to-telecom conglomerate led by billionaire tycoon Mukesh Ambani, will invest $1.4 billion into the new company

  • Saudi real estate sees new era of growth, innovation

    The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...

    The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes equipped for remote work and wellness.

    Amid evolving market needs, there's a rising demand for flexible workspaces and experiential retail and hospitality spaces, coupled with demand for commercial office space.

  • Meta chief discusses AI risks with Japan PM during Asia tour

    The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...

    Meta chief Mark Zuckerberg is on a mini-tour of Asia that includes stops in Japan, India and South Korea, where he travelled on Tuesday night

    He and Kishida met and discussed a broad range of topics including the status of AI's technological advancement and the risk surrounding generative AI

  • Apple drops electric car plans

    It had dedicated nearly 2,000 workers for the program.

    According to media reports, the target of "Project Titan" began around 2014 to develop a fully autonomous car

    The company has never publicly disclosed its EV plans, despite a steady drip of media leaks over the years

  • AI the new obsession for venture capital investing

    Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...

    While layoffs and budget tightening became routine at tech firms last year, startups in the AI sector raised nearly $50 billion from investor, according to market trackers

    Scared off by the cost of entry, many venture capitalists have turned their attention to more narrowly focused AI startups that could shake up banking, healthcare and energy

  • Nissan plans self-driving taxi service in Japan

    It has been testing self-driving mobility services since 2017.

    Nissan said it will begin trials of the commercial service in the upcoming financial year from April, using minivans in south of Tokyo

    The company says it has been "testing business models for self-driving mobility services in Japan and abroad since 2017"