Search Site

Trends banner

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.

SFD launches $135m infra projects

The projects were launched by SFD CEO Sultan bin Abdulrahman Al Marshad along with Djibouti President Ismail Omar Guelleh in the presence of other senior officials. Twitter
  • The projects include two new development initiatives in the water and housing sector
  • The fund has also laid the foundation stone for a project in the transportation sector

The Saudi Fund for Development (SFD) has inaugurated infrastructure projects that are being set up at a total investment of $137 million, local reports have said.

These includes two new development projects in the water and housing sector, said the reports.

The fund has also laid the foundation stone for a project in the transportation sector.

The projects were launched by SFD CEO Sultan bin Abdulrahman Al Marshad along with the President of Djibouti Ismail Omar Guelleh in the presence of other senior officials, said the local reports.

Al Marshad also inaugurated the construction of the 120-unit residential project in the presence of Amina Abdi Aden, Minister of Cities, Urban Planning and Housing.

The project is being funded with a grant of $7 million from the Saudi government, provided through the SFD.

Funded with a grant of $10 million provided by Saudi Arabia through the SFD, it will involve the construction of 105 km of water pipes and eight water tanks to pump clean water from the Bissidiro region.

Al Marshad and Guelleh also laid a foundation stone to upgrade 60km of the Djibouti-Galafi arterial road, which was originally funded by Saudi Arabia through the SFD, with $120 million grant.

The road will provide a vital economic and trading link with its neighboring countries.