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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.

  • Qatar looks to profit from Europe gas fears over Ukraine

    Qatar ruler Sheikh Tamim bin Hamad Al-Thani has the Ukraine crisis, efforts to engage the hardline Taliban administration in Afghanistan,...

    Gas supply is a key area Europe fears could be affected if Russia takes military action in Ukraine

    Australia, Qatar, and the United States are the world's biggest exporters of natural gas used as fuel

  • TASI starts low; Emirati markets gain

    The Emirati indices managed to show gains throughout the week, while the Saudi index was unchanged.

    After a tumultuous session, Saudi Arabia’s main index closed unchanged on Thursday

    The Dubai index advanced 0.5 percent on Thursday, supported by a 1.5 percent jump in NBD Bank

  • Record real estate deals in 2021 will drive the sector in next 50 years: DLD

    The record real estate transactions will contribute to driving the sector in the next 50 years during which the UAE...

    Real estate transactions worth almost AED 300 billion ($81.67 bn) were recorded last year, which is the highest ever in the recorded real estate history of Dubai.

    December 2021, in terms of overall index numbers, was the highest since February 2019 and the highest for index value since August 2018.

  • Abu Dhabi non-oil trade in 11 months of 2021 totals $51.78 billion

    The non-oil trade through Abu Dhabi ports during 11 months in 2021 amounted to AED190.20 billion ($51.78 bn), an increase...

    Imports accounted for AED83.63 billion of the non-oil trade and non-oil exports for AED71.17 billion, an increase of 5.4 percent compared to the same period last year.

    The re-exports were valued at nearly AED35.39 billion, an increase of 10 percent compared to 2020.

  • Etisalat Group buys out elGrocer DMCC

    Emirates Telecommunications Group Company PJSC (Etisalat Group)  has completed the acquisition of elGrocer DMCC, the company said it a statement.

    Founded in 2015, elGrocer is a leading online marketplace for groceries operating in all seven Emirates of the UAE

    The acquisition of elGrocer will complement Etisalat UAE’s existing marketplace services under the ‘Smiles’ brand

  • Season 8 of ABB FIA Championship set to kick off in Riyadh

    Season 8 of the ABB FIA Formula E World Championship is set to launch in Saudi Arabia, and some of...

    Run under lights at the UNESCO World Heritage Site outside Riyadh, the races will be held in the Kingdom for the fourth time

    The eight season of the ABB FIA Formula E World Championship begins with a double-header in Diriyah, with a new qualifying format, along with the ever-popular Fan Boost

  • Tunisia allows digital sector firms to bid in convertible foreign currencies

    The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in...

    Bidding allowed for tenders for imported hardware and software in 2022.

    The authorization from the Central Bank of Tunisia came after a 'positive opinion' from the Ministry of Finance.

  • US judge cancels major oil and gas exploration sale

    A US judge on Thursday canceled the sale of oil and gas exploration leases of some 80 million acres in...

    US Federal District Court Judge Rudolph Contreras declared existing contracts invalid

    He said the Department of the Interior did not adequately consider the leases' impact on climate change

  • Dubai embraces enigma of costliest black diamond

    The design of the bloack diamond Enigma is based on the Middle Eastern emblem of the palm — also known...

    The diamond will see a "without price limit" auction, meaning whoever offers the highest proposed price will win it

    Enigma can be dated between 2.6 billion and 3.8 billion years, and its components include nitrogen and hydrogen

  • Emirates signs new distribution agreement with Amadeus

    From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge.

    From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge

    The new agreement will also see Emirates’ new distribution capability content integrated into the Amadeus Travel Platform