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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

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Telecom Egypt and Orange Jordan’s CAB System to connect Iraq to Europe

CAB System will be ready for service in the third quarter of 2022.
  • The Cairo Amman Baghdad System will be ready for service in the third quarter of 2022.
  • Once launched, it will be the most advanced, scalable gateway and express route connecting Iraq to Europe using the companies’ networks, the companies said in a statement.

Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Orange Jordan, will create a terrestrial system connecting Iraq to Europe through Jordanian and Egyptian territories.

The two companies signed an agreement under which the new system will commercially be named “Cairo Amman Baghdad System” or “CAB System”.

CAB System will be ready for service in the third quarter of 2022. Once launched, it will be the most advanced, scalable gateway and express route connecting Iraq to Europe using the companies’ networks, the companies said in a statement.

The statement said the system will capitalize on Telecom Egypt’s position, international assets, and facilities as well as Orange Jordan’s fully diversified infrastructure in Jordan.

“Integrating the companies’ distinguished and robust networks will offer reliable, low latency internet connectivity services through highly resilient, diverse routes to meet Iraq’s growing market demand,” the statement reads.