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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.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

UAE and Qatar top 2021 GCC economies

  • The GCC comprises six countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
  • The World Bank has said the economies of the Gulf Cooperation Council (GCC) are projected to expand by 5.9 percent overall in 2022.

The World Bank has said the economies of the Gulf Cooperation Council (GCC) are projected to expand by 5.9 percent overall in 2022, with this recovery likely to continue in the medium-term, driven by the hydrocarbon and non-hydrocarbon sectors.
The GCC comprises six countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
As major hydrocarbon exporters, GCC countries may also benefit from changes in the energy markets brought about by the war in Ukraine, the World Bank said.
These countries may see strong fiscal and external surpluses, which could help spur consumer confidence and investments.
Gradual recovery of markets from pandemic effects and high oil prices saw the GCC countries, especially the United Arab Emirates and Qatar, make significant economic gains.
UAE and Qatar score above seven (on the scale of 1-10) on the seven criteria used to measure the economic status of a country.
The TRENDS takes a look at how each of the GCC economy performed on these criteria in 2021-22.