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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 Q1 GDP grows by 9.6%

The IMF recommends careful calibration of investment programs to ensure their catalytic effects.
  • The growth was fueled by oil activities that increased by 20.4 percent and non-oil activities which saw a rise of 3.7 percent
  • The figures showed that the seasonally adjusted real GDP grew by 2.2 percent in the first quarter of 2022 compared to the previous year

Saudi Arabia’s Gross Domestic Product increased by 9.6 percent in the first quarter of 2022 compared to the same period in 2021. 

The growth was fueled by oil activities that increased by 20.4 percent. Non-oil activities saw a rise of 3.7 percent, with government services activities growing by 2.4 percent year-on-year (YoY).

The figures showed that the seasonally adjusted real GDP in the Kingdom grew by 2.2 percent in the first quarter of 2022 compared to the previous year. 

This was revealed by Saudi General Authority for Statistics (GASTAT) on its website flash estimates of the Saudi Gross Domestic Product (GDP) growth rate for the first quarter of 2022.

A flash estimate of quarterly GDP is defined as a process of estimating the quarterly national accounts conducted during a short period after the end of the reference quarter and is published 30 days after the end of the reference quarter when the data relating to the quarter is still incomplete.

Flash estimates are used by decision-makers, academics, and researchers who seek to obtain a long-term future view of the GDP data for economic activities. In addition, international organizations use seasonally adjusted data to make economic comparisons between different countries.