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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.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

Iraq signs project to reduce carbon emissions

  • Iraq will reduce emissions by the solar energy project in 2025
  • Iraq looks to produce 12,000 megawatts of solar energy by next three years

Iraq will look to produce 12,000 megawatts of solar energy in next three years, the country’s Energy and Radioactive Sources Control Authority confirmed on Friday, January 7.

These will be accomplished through upcoming contracts in solar energy field, said the authority.

“The green economy has become one of the main pillars of the world, especially after the marked rise in carbon emissions from fossil fuels to produce electricity and various other uses,” head of the authority Kamal Hussein told the official Islamic Republic News Agency.

“The Paris Agreement in 2017 obliged countries to move towards reducing emissions,” Hussein added.

“Iraq is seeking to reduce those emissions, especially since it is a fragile and highly vulnerable region on global warming,” he continued.

“Iraq aims to reduce emissions through the solar energy project in 2025, as contracts have been signed with Masdar and Total of France in this regard, as well as a series of other future contracts to be signed with solar sponsors,” he stated.

“The main role of the General Secretariat of the cabinet is to follow up and implement the decisions issued by the ministries and the implementation of the resolutions,” he concluded.