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Economy

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

UAE to invest $2bn in Egypt in order to bolster its economy

The decision came during a rare meeting between leaders of Egypt, the UAE and Israel to discuss energy and food security.
By TRENDS Desk
March 27, 2022 8:20 pm
  • The world’s largest wheat importer has been hit hard by record grain prices that were fueled by the Russia-Ukraine war
  • The decision came during a rare meeting between leaders of Egypt, the UAE and Israel to discuss energy and food security

The UAE is going to invest some $2 billion in Egypt by buying up the state-owned companies in order to shore up the country’s teetering economy as hardships from the Ukraine war spike.

The world’s largest wheat importer has been hit hard by record grain prices that were fueled by the Russia-Ukraine war.

The decision came during a rare meeting between leaders of Egypt, the UAE and Israel to discuss energy and food security.

Having been discussed before the Ukraine war, the deal has been sped up as fighting shook the global economy.

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