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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.

  • Saudi Arabia scouts markets for non-oil exports

    While initiatives like Made in Saudi Arabia are helping ramp up production, Saudi Exports is looking to rope in government...

    Saudi Arabia intends to increase the amount of non-oil exports from 16 percent to 50 percent of the total GDP

    The Made in Saudi Arabia program helps create a unified identity for exports and improve their reliability

  • UAE and Israel agree to boost tourism sector ties, plan events

    The UAE and Israel signed a Memorandum of Understanding (MoU) to strengthen their tourism and economic cooperation and reinforce their...

    The two sides will intensify their technical cooperation in tourism education, vocational training, marketing and promotional activities.

    The trade between the two countries grew to $700 million within one year of signing Abraham accords.

  • DWC Airport to host Business Aviation Event ‘MEBAA’ in December

    DWC Airport in Dubai will host the MEBAA Show, a business aviation platform, from 6-8 December 2022. The event will...

    The event will showcase the latest trends, insights, innovation and commercial opportunities shaping the future of business aviation.

    Providing a platform for the entire business aviation community, the MEBAA Show will convene again to build partnerships.

  • Saudi seaports registers 5.3 percent increase in cargo handling

    This includes a 48.28% growth in passenger volume, with the total number reaching 88,000.

    The total food shipments amounted to more than 2 million in January, representing an increase of 2.06 percent compared to last year.

    The statistical figures for January 2022 issued by MAWANI also showed an increase in other operational indicators of Saudi ports.

  • High taxes take fizz out of Turkey’s cafes

    In a waterfront Istanbul neighborhood that once buzzed with cafe and pub life, there are now only empty tables after...

    The tax is one of the biggest blows to alcohol consumption by a government often accused by its opponents of eroding the pillars of modern Turkey

    The blow was felt particularly hard in the Besiktas neighborhood on the European side of the Bosphorus

  • TAQA posts a net income of AED6bn for 2021

    Abu Dhabi National Energy Company (TAQA) has posted a net income (TAQA-share) of AED6.0 billion, a jump of AED3.2 billion,...

    The company has attributed the increase in income to a greater contribution from the Oil & Gas segment

    The Group revenues of AED45.7 billion, 11 percent higher than the prior-year period, primarily due to higher commodity prices within the Oil & Gas segment

  • Alpha Dhabi revenues rise 400 percent

    The gross profit in 2021 was AED5.1 billion in 2021, compared to AED 218 m in 2020.

    The company said the performance was driven by the strong and consistent business activities of its subsidiaries.

    Alpha Dhabi Holding made strategic investments in 2021 by acquiring a 17.5 percent stake in Aldar which was increased to 30 percent at the year-end.

  • ADQ to launch digital bank, after CBUAE grants approval

    A new digital bank backed by ADQ, an Abu Dhabi-based investment and holding company, will soon begin operations, after the...

    With its headquarters in Abu Dhabi, the digital bank named Wio will enhance the capital's growing reputation as a global financial services centre

    The digital banking platform's primary shareholders ADQ and Alpha Dhabi, one of the fast-growing investment holding companies in the Middle East, own 65 percent

  • Algeria’s Sonatrach signs deal to restart Libya operations

    The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar.

    The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar

    The Sonatrach statement said the oil and gas giant planned to “redouble efforts for a swift return” to its activities in Libya

  • Spotlight on Saudi model cargo villages as the sector grows in 2021

    Saudi Arabia recorded a growth in air cargo traffic during 2021 compared to 2020, with the total air cargo until...

    The total air cargo until the end of December of 2021 amounting to more than 653,000 tons.

    The model cargo village at King Khalid International Airport in Riyadh is an advanced logistics platform with an estimated capacity of 500,000 tons.