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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.

To give fillip to key sectors, UAE Central Bank doles out $12 billion in credit in 2020

     

    • The credit is intended to give a boost to sectors critical to the overall economy of the United Arab Emirates

    • The transport, storage, communication and real estate among the sectors receiving credit

     

    In order to give a boost to sectors critical to the overall economy of the United Arab Emirates, the transport, storage, communication and real  estate sectors received AED44.1 billion in credit facilities in 2020, according to statistics revealed by the Central Bank of the UAE.

    Proving to be a catalyst for economic growth despite the global slowdown, the transport, storage and communications sectors played a key role in ensuring sustainable food supply chain movements in times of crisis, and received AED27.7 bn in loans last year, 48.6 percent up from 2019, which brought to AED85 bn the cumulative loan volume these sectors received by the end of last year, reported WAM.

    Real estate and construction platforms received AED16.4 bn in 2020, 5.3 percent up from 2019, bringing to AED328 bn the cumulative loan volume received by this sector by the end of last year.