Search Site

Trends banner

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.

Qatar to invest 1 bn pounds in climate technologies with UK

Britain's King Charles III (R) and Qatar's Emir Sheikh Tamim bin Hamad al-Thani (L) react during a State Banquet at Buckingham Palace in London on December 3, 2024. AFP
  • British industrial group Rolls-Royce, which manufactures aircraft engines, will receive investments for programs dedicated to energy efficiency, the statement said
  • Qatar's investments in the British economy are estimated at over 40 billion pounds and the emirate indicated in 2022 that it intends to invest another 10 billion pounds by 2027

London, United Kingdom – The British government said Wednesday that it has agreed to a partnership with Qatar that will see the Gulf state invest 1 billion pounds ($1.3 billion) in climate technologies.

“The partnership is expected to create thousands of highly skilled jobs over its lifetime and will see the launch of world-leading climate technology hubs across the UK and Qatar to accelerate development in climate-friendly technologies,” according to a statement issued during a state visit by Emir Tamim bin Hamad Al-Thani.

British industrial group Rolls-Royce, which manufactures aircraft engines, will receive investments for programs dedicated to energy efficiency, the statement said.

Qatar’s investments in the British economy are estimated at more than 40 billion pounds and the emirate indicated in 2022 that it intends to invest another 10 billion pounds by 2027.

The press release also said the two countries will create a joint academy of genomic medicine, which uses information from genome sequencing, and a joint commission on research into artificial intelligence (AI).

Qatar’s emir was welcomed Tuesday by King Charles III at the start of a state visit where he will also hold talks with Prime Minister Keir Starmer, who wants to negotiate trade deals with Gulf monarchies.

Britain has been seeking new trade pacts since leaving the European Union and in late 2021 began talks with the Gulf Cooperation Council (CCG), which groups Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman.

But a parliamentary committee last year said the British government should “not to compromise British values”, particularly on human rights and the environment.

Britain has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), signed trade pacts with Australia and New Zealand, and is in negotiations with India.