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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.

  • Why do Arabs pitch for European football clubs?

    For several years, there has been a rush of investments from GCC countries into European sports. TRENDS explores the reasons...

    Saudi Arabia's Public Investment Fund recently bought Newcastle United for $418 million

    Abu Dhabi’s Sheikh Mansour had picked up Manchester City in 2008

  • Sanad picks new CEO

    Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO.

    The appointment is a part of Sanad’s new plan to expand its business beyond the aerospace sector

    The strategy and leadership announcements follow the launch of "Operation AED300bn" last year

  • Sharjah Shopping Promotions sees 40 percent more shoppers this season

    The Sharjah Chamber of Commerce and Industry (SCCI) has seen off another season of the 48-day "Sharjah Shopping Promotions" campaign....

    The volume of purchases throughout the 48-day campaign grew by 25 percent.

    Some 653 shops and stores took part in the event, offering attractive discounts of up to 75 percent on leading brands and various types of goods

  • Second instalment of Sunref energy program launched in Palestine

    Bank of Palestine (BOP) and Proparco in cooperation with the EU have jointly announced the signing of Sunref II Green...

    The purpose of SUNREF Green Finance Program is to provide solutions to promote energy efficiency and renewable projects.

    The program plays a crucial role in the Palestinian ecological system since energy services’ costs are high.

  • DP World begins construction of Banana Port in Democratic Republic of Congo

    DP World and Government of the Democratic Republic of the Congo (DRC) Tuesday laid the first stone to mark the...

    DP World and Congo government laid the first stone to mark the construction of the port capable of handling the largest vessels in operation.

    The port will have a container handling capacity of about 450 000 TEUs (20-foot equivalent units) per year, and a 30-hectare yard to store containers.

  • ExxonMobil posts Q4 profit

    ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering...

    The oil giant reported annual profits of $23 billion last year compared with a loss of $22.4 billion in 2020 when demand was dented by the Covid-19 lockdowns

    In the fourth quarter, ExxonMobil's upstream business benefited from higher prices in oil and natural gas, which surged 63 percent

  • Oman and Finland seek to boost business ties

    Oman and Finland are looking to boost cooperation between the private sectors of two countries, particularly in the fields of...

    The meeting also highlighted aspects of enhancing cooperation between the private sectors of the two countries

    The Finnish minister underscored his country’s keenness in developing relations between the two countries

  • Silal to deploy IoT sensors in 100 farms for improving productivity

    Silal, Abu Dhabi-based food and agritech company, in collaboration with Hoogendoorn, one of the world’s innovators in horticulture, on Tuesday...

    Silal will collaborate with Hoogendoorn, one of the world’s innovators in horticulture.

    This project is aimed at enabling local farmers and advisors to make better decisions on irrigation, fertilization, and crop management to maximize locally-grown fresh produce.

  • DFM 2021 net profit $28m

    Its total revenues reached AED294.6m in 2021, reduces expenses by 4 percent.

    In the fourth quarter of 2021, the net profit increased by 269 percent to AED65.7 million compared to AED17.8 million in the corresponding period of 2020.

    The company's Board of Directors recommended a 3 percent cash dividend to the shareholders, which is equivalent to AED240 million.

  • Oman and Syria agree to boost cooperation ‘in all fields’

    The foreign ministers of Syria and Oman have held discussions on how to promote cooperation between the two countries on...

    They also underscored the importance of dialogue and resolving various issues through peaceful political solutions in a manner that serves aspirations of peoples

    The talks laid emphasis on the keenness of the two countries' leaderships to enhance and develop these relations in all fields