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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 supports SMEs with $80bn cash injection

A Saudi man counts banknotes at his jewelry shop at Tiba market in Riyadh.
By TRENDS Desk
March 27, 2022 5:22 pm
  • Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support
  • “It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said

In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses, according to the head of the authority known as Monshaat.

Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support.

“It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said.

Saudi Arabia has provided the needed regulations and advisory hubs

As a result Saudi ranked 2nd globally for the government support to SMEs.

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