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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

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Israel’s Q3 growth slows due to weaker consumer spending

Israel's economics minister on Wednesday downplayed concerns that the new right-wing coalition's judicial reform proposals would hurt the economy. AFP/File
  • The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months
  • The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday

Jerusalem, IsraelIsrael’s third-quarter economic growth slowed due to weaker consumer spending, but it still seems likely that rising inflation will lead to a significant Bank of Israel rate increase the next week, Reuters reported.

According to the Central Bureau of Statistics’ first estimate released on Wednesday, the gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.

The second quarter’s economic growth was revised up from the first quarter’s 6.9 percent growth to 7.3 percent

Jonathan Katz, chief economist at Leader Capital Markets, told Reuters that there were no signs of a “significant deceleration” in the third quarter other than in consumer durables. 

The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday.

According to central bank projections, Israel’s GDP grew more than 8 percent in 2021 and is projected to increase by 6 percent in 2022 before declining to 3 percent in 2019.