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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.

  • Bahrain and Hungary aim to boost trade, investment ties

    Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries.In this regard, Khalid...

    Chairman of Bahrain Chamber of Commerce and Industry said the Bahraini-Hungarian Business Forum aimed to boost trade, investment ties between the two countries

    According to Gabor Jenei, the CEO of Hungarian Export Promotion Agency (HEPA), Hungary's exports to Bahrain reached $15m and Bahrain's exports to Hungary at $8m

  • Ghitha 2023 revenue at $1.2bn

    Ghitha reported an operating profit of $69 million in 2023.

    Ghitha's revenue milestone indicates a significant growth rate of over 100 percent compared to 2022.

    This is due to the successful execution of strategic acquisitions and expansion across diverse categories.

  • Toyota to suspend shipments of 10 models due to testing irregularities

    Tokyo, Japan - Toyota said Monday it was suspending shipments of 10 models that use engines linked with testing irregularities at...

    The affiliate, Toyota Industries, did not conduct proper horsepower output testing for the certification of three diesel engine models, the parent group said

    Toyota Industries said in a separate statement that its workers adjusted the fuel injection amounts to make the data "better-looking"

  • Dubai Investments buys GFP stake

    GFP secures nearly $60 million in equity financing to expand its network.

    GFP aims to create the leading fertility network in the region, and one of top 10 globally, according to a statement.

    Saudi Arabia will be the focus of the investment. GFP’s facility in Riyadh is currently under construction and is due to commence operations later this year.

  • Hamad Al Marar is EDGE CEO

    EDGE has a local and global orderbook of over $5billion.

    Al Marar succeeds Mansour AlMulla, who is returning to ADQ Group following a successful two-year managerial secondment to EDGE.

    He will utilize his leadership skills and experience within the UAE’s defense industry to guide the group into the next phase of its evolution.

  • Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023

    Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...

    The trade balance showed a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.

    The YoY decrease was mainly due to lower exports of Petroleum Gases and Other Gaseous Hydrocarbons.

  • Ryanair quarterly profit dives 93%

    The carrier flies mostly throughout Europe.

    The carrier, which flies mostly throughout Europe, said net profit slumped to 14.8 million euros ($16 million) in the final three months of 2023

    Chief executive Michael O'Leary said Ryanair was narrowing its forecast for annual net profit to a range of 1.85 billion and 1.95 billion euros

  • DAE, Turkish Airlines ink pact

    Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.

    The aircraft are scheduled to be delivered in 2025.

    DAE owns and manages 96 737 MAX family aircraft.

  • AD Ports launches Noatum Logistics Middle East

    The firm said the new brand will replace MiCCO Logistics.

    The company said customers will be able to leverage Noatum’s global network of 16 terminals and 143 international offices, presence across 67 ports

    The rebranded firm will embark on a rebranding campaign in the next few weeks, which will see its brand reflected across key assets and locations in the region.

  • QatarEnergy, Excelerate sign agreement

    Under the 15-year deal, they will supply LNG to Bangladesh.

    Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027, and one MTPA from 2028 to 2040.

    Qatar is the largest LNG supplier to Bangladesh and aspires to continue being the LNG supplier of choice for partners in the South Asia LNG markets.