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Economy

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 grows 3.2% in 2021, the highest rate in 6 years

The new freight service will connect King Abdulaziz Port with six major regional and international ports. (AFP)
By TRENDS Desk
March 16, 2022 3:27 pm
  • The economy expanded in 2021 by the highest annual rate since 2015
  • The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent

Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product, a year after its economy struggled with recession.

The economy expanded in 2021 by the highest annual rate since 2015. Real GDP for the year 2021 grew by 3.2 percent compared to negative growth in 2020 of 4.1 percent, the General Authority for Statistics data showed.

The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent. The government activities grew by 1.5 percent.

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