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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 economy grew 6.8% in Q4, 3.3% in 2021

This positive growth was due to the high increase in oil activities. Creative Commons
  • This positive growth in the GDP was attributed to the high increase in oil activities: as much as 10.8 percent
  • Non-oil activities were up 5 percent, and government services activities rose 2.4 percent year-on-year

The real Gross Domestic Product (GDP) of Saudi Arabia grew by 6.8 percent in Q4 of 2021 compared to Q4 of 2020, according to the flash estimates of the real GDP growth rate report for the fourth quarter (Q4) of 2021, official sources have said.

The data is said to have been released on Thursday, February 10, by the country’s General Authority for Statistics (GASTAT).

This positive growth was due to the high increase in oil activities (10.8 percent), even as non-oil activities increased by 5 percent, and government services activities increased by 2.4 percent year-on-year.

The seasonally adjusted real GDP grew by 1.6 percent in Q4 of 2021 compared to the previous quarter (Q3 of 2021).

This increase was the result of the growth in oil activities by 1.8 percent, non- oil activities increased by 1.5 percent, and government services activities grew by 1.2 percent.

The report revealed that the real GDP for the year 2021 achieved a growth rate of 3.3 percent compared to the decrease in 2020.

This increase in GDP resulted of the economy recovering from the Covid-19 crisis through the growth of non-oil activities by 6.6 percent, as government services activities increased by 1.5 percent, and oil activities grew by 0.2 percent.