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Economy, Geostrategy

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 to trade in 25 new international markets as economy recovers

By TRENDS Desk
June 28, 2021 12:45 pm

    • UAE’s budget balance improved as its economy recovers

    • It will enter 25 new international markets for foreign trade

    Boosted by an improved budget balance in the first half of the year, as the economy began recovering from the bruising effects of the Covid-19 pandemic, ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum has said the UAE will enter 25 new international markets for foreign trade, with the goal of boosting exports by 90 percent in the next few years.

    The state news agency WAM reported, citing a ministerial meeting attended by the central bank governor.

    The UAE, a commerce and trade hub, was hit hard by the COVID-19 pandemic which had a crippling impact on sectors vital to its economy like tourism and hospitality.

    Preliminary data in May showed the economy shrank 6.1 percent in 2020, while the central bank has said it expects GDP to grow 2.5 percent this year.

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