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Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

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.

Gold hits fresh record above $2,300 as Fed hints at easing monetary policy

Gold broke above $2,300 for the first time Thursday.
  • Gold has chalked up multiple records over recent weeks as the US Federal Reserve indicates it is about to begin easing monetary policy which makes it more attractive to investors
  • Its popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the Middle East crisis and the ongoing war in Ukraine

Hong Kong, China– Gold broke above $2,300 for the first time Thursday as it continued to surge on the back of expectations that US interest rates will come down this year and high geopolitical tensions.

The precious metal has chalked up multiple records over recent weeks as the US Federal Reserve indicates it is about to begin easing monetary policy — which makes it more attractive to investors.

Its popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the Middle East crisis and the ongoing war in Ukraine.

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely be appropriate to cut borrowing costs “at some point this year”.

Eyes are now on the release of US jobs figures due at the end of the week, with a weak reading likely to give the Fed room to cut rates sooner rather than later.