Spain urges WTO meet in UAE to address de-globalization
ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...Business Economy Geostrategy Global
Global stock markets swing ahead of Fed’s latest rate decision
"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...Business Economy
‘Credit by national banks rose to US$3.5bn till April 2022’
Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion)...The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent.
Value of credit facilities extended by national banks to the sector accounted for 89.1% of gross accumulative credit balance.
Turkey’s June 2022 exports up 19% to US$23.4bn
The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statementThe January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement
As imports rose at a faster pace than exports, the country's foreign trade deficit widened 142.7 percent to hit $51.4 billion
Yemen’s ancient honey production a victim of war, climate change
Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic...Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic properties
The United Nations says honey plays a "vital role" in Yemen's economy, with 100,000 households dependent on it for their livelihoods
Egypt protests Ethiopia plans to fill reservoir for third year
Egypt said it had protested to the UN Security Council Friday against Ethiopian plans to fill the reservoir of a...The process of filling the GERD's vast reservoir began in 2020, with Ethiopia announcing in July that year it had hit its target of 4.9 billion cubic metres
Addis Ababa deems the GERD essential for the electrification and development of Africa's second most populous country
Misses and uncertainty: US tech giants stumble after pandemic boom
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning,...A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty.
Recession fears, strong dollar, shrinking advertising budgets and inflation, headwinds coming from every direction at the moment.
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the...Eni said in a statement that bottom-line Q2 net profit increased 15-fold to $3.9 billion
For the whole of 2022, Eni confirmed it was aiming for operating profit of 'at least' $1.22 billion
Dubai’s real estate market sales transactions reach US$6.2bn
Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions...Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion
The transactions were the highest volume of sales transactions for June in the past nine years
ADNOC announces second discovery of natural gas resources
Abu Dhabi National Oil Company (ADNOC) today announced a second discovery of natural gas resources in the first exploration well...The reservoir was struck in in the first exploration well in Abu Dhabi's Offshore Block 2 Exploration Concession, operated by Eni.
The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place.
ExxonMobil Q2 profits rises to US$17.9bn
ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil...ExxonMobil's Q2 profits nearly quadrupled to $17.9 billion that underscored the oil and natural gas prices
The US oil giant's revenues in the second quarter rose 68.7 percent to $111.3 billion
Alpha Dhabi reports net profit of US$2.2bn in H1 2022
Alpha Dhabi Holding has announced its financial results for the half-year ended June 30. The company reported net profit of...Alpha Dhabi reports net profit of US$2.2 billion in H1 2022 ending June 30, up from US$ 453 million in the corresponding period last year
The firm is also starting to see the benefits of its expansion outside the UAE with overseas revenue accounting for US$ 572 million
