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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.

UAE, Israel sign tax treaty to boost economic ties

    • The signing of the treaty came after the normalization of ties between them
    • The treaty is based primarily on the OECD model, Israeli Finance Minister Israel Katz said in a statement

    Looking to target companies involved in money laundering activities in the United Arab Emirates (UAE), the Anti-Money Laundering Department at the UAE Ministry of Economy has told the UAE companies that they must disclose the identity of their real owners by next month or be prepared to pay fines.

    The ultimatum was delivered by Safia Al-Safi, the director of the Anti-Money Laundering Department at the UAE Ministry of Economy, in an interview. She said fines would be levied on companies that do not comply by the start of July.

    She said details about the real owners were required for all companies except for government-owned corporations or publicly traded entities. The UAE has introduced legislation to combat anti-money laundering activities amid scrutiny from regulatory bodies worldwide.