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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

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Egypt’s foreign-currency reserves shot up to $40.3bn in May

By TRENDS Desk
June 5, 2021 5:38 am

    • The rise has been due to remittances sent by Egyptians working abroad

    • According to the Ministry of Planning, the reserves cover eight months of Egypt’s imports

    Egypt’s foreign reserves shot up to $40.3 billion at the end of May, a jump of $125 million from the month of April. The reserves stand at their highest since 2020, Asharq reported.

    According to the Ministry of Planning, the reserves cover eight months of Egypt’s imports, equivalent to about $5 billion a month. Remittances from Egyptians working abroad have strongly contributed to supporting foreign reserves, increasing by 10.5 percent in 2020 to $29.6 billion.

    Egypt’s central bank reported foreign-exchange reserves of $40.3 billion at the end of May, an increase of $125 million over the month and the highest level since February 2020, Asharq reported

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