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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.

  • Turkey lifts ban on importing scrap metals from Lebanon after ministerial meet

    Turkey has lifted the ban on importing scrap metals from Lebanon, which could secure about $100 million annually for Lebanon,...

    The embargo was imposed in 2018. Lebanon exported to Turkey more than 40 percent of the total exported scrap metal.

    The ban was lifted after Lebanon Minister of Economy and Trade Amin Salam's meeting with Turkish ministers in Ankara.

  • DEWA and Tajik diplomats discuss tie-up in energy sector

    Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), met with Ilhom Abdurahmon, Consul-General of...

    The meeting at DEWA Head Office discussed ways to develop cooperation in energy and water sectors and topics of mutual interes

    Abdurahmon expressed his appreciation for DEWA’s efforts to enhance partnership and friendly relations

  • Nakilat net profit $370m

    This is the company's highest profit since its inception.

    Earnings per share (EPS) amounted to QR 0.24 as of 31 Dec 2021 versus Earnings per share (EPS) of QR 0.21 for the same period in 2020.

    For this period, the company's Board recommends a cash dividend at QAR 0.12 per share.

  • Toshiba to split into 2 firms

    This is a revision of an earlier proposal to divide into three companies.

    Toshiba aimed to complete the split in the second half of the 2022-23 financial year

    Toshiba has revealed its deal worth some $867 million to sell air-conditioning subsidiary Toshiba Carrier to the US-based Carrier Corporation

  • DP World Q4 volume up 2.6%

    The gross container volumes rose by 9.4% year-on-year.

    DP World has said its gross volume growth in 2021 overall was reportedly broad based

    India, Asia Pacific, Middle East & Africa, Europe, Australia, and the Americas were key growth drivers

  • Participants from 42 countries to attend Abu Dhabi Date Palm Conference

    The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th...

    Minister of Tolerance and Co-existence Sheikh Nahyan said that this year's conference is significant by all standards.

    475 international researchers and experts will participate in the conference being held from 14-16 March.

  • UAE and France aim to team up to meet energy challenges

    The UAE and France held discussions on energy challenges and opportunities for collaboration in order to maximize energy system efficiency...

    The discussion took place between Awaidha Al Marar, Chairman of the Abu Dhabi Department of Energy, and Xavier Chattel, Ambassador of France

    Al Marar and Chattel underlined the importance of leveraging partnerships, Research & Development, and policymaking capabilities

  • Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings

    Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...

    In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.

    Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.

  • Protests erupt in Lebanon against harsh economic policies

    A group of engineers in Lebanon held a sit-in protest outside the Central Bank branch in Sidon, in conjunction with...

    The headline of the protest was, “Until rights are restored” & “For the right to hospitalization and a decent retirement

    They deemed that “the banks are seizing the funds and savings of engineers and depositors in general, and imposing controls

  • Fitness Time posts $54.9m net profit

    The operator of the largest Saudi gym chain also sees growth in revenues.

    This was buoyed by a growth in revenues of SR223 million, a SR9.75 million decrease in the cost of revenue, and a fall in other costs by SR32.3 million

    The income from personal training was up SR20.5 million and rental income surged due to new rental contracts during the year.