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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 startups collect 58% of $375m in funding in MENA

A Saudi man counts banknotes at his jewelry shop at Tiba market in Riyadh.
  • Startups in the logistics sector raised the most funding in February with $120 million in the region, and the Kingdom’s startup Trukker secured $96 million in its series B round
  • Saudi Arabia was also the most active in terms of investor participation with 27 deals, while UAE investors participated in 22 agreements

Saudi startups have secured 58 percent of the total $375 million in funding, in the MENA region, in February.

Startups in the logistics sector raised the most funding in February with $120 million in the region, and the Kingdom’s startup Trukker secured $96 million in its series B round.

Saudi Arabia was also the most active in terms of investor participation with 27 deals, while UAE investors participated in 22 agreements.

The United Arab of Emirates startups raised $77.6 million while Egypt pulled in $70 million.

Together with Saudi Arabia, those three markets amounted to 98 percent of overall funding in the region.