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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.

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Tawzea, NWC ink pacts

Tawzea will operate and maintain wastewater treatment plants in the cities of Dammam and Khobar as per the second contract.
  • Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
  • Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.

RIYADH, SAUDI ARABIA – Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co (SISCO) said that their 50:50 joint venture, International Water Distribution Co. (Tawzea) signed two contracts with National Water Co. (NWC).

In two separate statements on Tadawul, Amiantit and SISCO said the first contract was signed on November 23 at a total value of US$54 billion (SAR 199.5 million), VAT exclusive. Under this contract, Tawzea will operate and maintain the water network in Makkah and its governorates.

The term of the contract term is for five years, the companies said.

The second contract was signed by Tawzea on October 12 to operate and maintain wastewater treatment plants in the cities of Dammam and Khobar.

The contract is valued at US$9.3 million (SAR 34.5 million) and is valid for 18 months. The project’s financial impact is predicted to appear in the fourth quarter of 2023.