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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.

Saudi budget records $10 billion deficit in Q4 2023

A picture taken on December 16, 2020 shows a partial view the King Abdullah Financial District in Riyadh. AFP
  • The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion
  • This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion

Riyadh, Saudi Arabia – Saudi Arabia’s general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023, the Ministry of Finance reported. The total revenues for the period amounted to $95.45 billion, while total expenses reached about $105.32 billion. This reflects a slight increase in the deficit compared to the previous quarter, which stood at $9.54 billion.

During the third quarter of 2023, the budget revealed total revenues of $69.06 billion and total expenses of $78.51 billion. The ministry’s report highlighted a notable 53 percent surge in non-oil revenues, reaching $29.73 billion in the third quarter of 2023, compared to $19.42 billion in the same quarter of 2022. In contrast, oil revenues experienced a 36 percent decline, amounting to $39.20 billion in the third quarter of 2023, compared to $61.11 billion in the corresponding quarter of 2022.

The overall revenues showed a 14 percent decrease, totaling $69.06 billion in the third quarter of 2023, compared to $80.42 billion in the same quarter of 2022. Concurrently, total expenses in the budget increased by two percent, reaching $78.51 billion in the third quarter of 2023, compared to $76.73 billion in the same quarter of 2022.