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Economy

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

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.

Ukraine to receive $1.5bn in aid from World Bank

The World Bank said ESG, volatility and risk and inflation were the main challenges facing central banks in 2022. (AFP)
By TRENDS Desk AFP
June 8, 2022 11:44 am
  • The new financing from World Bank to Ukraine will be used to pay wages for government and social workers
  • According to Zelensky, Ukraine's government needs a total of $7 billion aid in a month to continue to function
The World Bank on Tuesday approves an additional $1.5 billion in aid for Ukraine, bringing the total planned support package to more than $4 billion.
The Russian invasion of Ukraine in late February has created a humanitarian crisis and devastated the country’s economy, destroying infrastructure and blocking key grain exports, as well as draining the government’s ability to pay its bills.
The new financing will be used to pay wages for government and social workers, the development lender said in a statement, noting that with the new funds nearly $2 billion has been disbursed so far. The World Bank “is providing continuing support for Ukraine and its people in the face of the ongoing war,” bank President David Malpass said in a statement. “We are working with donor countries to mobilize financial support and leveraging the flexibility of our various financing instruments to help provide Ukrainians with access to health services, education and social protection.”However, Ukraine President Volodymyr Zelensky has said his government needs a total of $7 billion a month in aid to continue to function.

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