INSEAD Day 4 - 728x90

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

UN working to renew Ukraine grain export deal

Moscow is demanding guarantees on another agreement concerning its own exports, in particular of fertilizer components. (AFP)
  • Grain deal helped alleviate food shortages triggered by the Russian invasion of Ukraine, a major grain exporter, and its blockade of Ukrainian ports
  • The resumption of Russia's ammonia exports through the pipeline is one of Moscow's conditions to continue with the grain export deal

United Nations, United States– UN Secretary-General Antonio Guterres said Monday he is working to extend an agreement that allows grain from war-torn Ukraine to reach the global market and prevent shortages.

That crucial accord granting safe passage for Ukrainian grain to be exported via Black Sea ports despite Moscow’s invasion was signed in July 2022 by Russia, Ukraine, Turkey and the United Nations. It was renewed again in May but for only two months, until July 17.

Moscow is demanding guarantees on another agreement concerning its own exports, in particular of fertilizer components.

“I am concerned, and we are working hard in order to make sure that it will be possible to maintain the Black Sea Initiative and at the same time that we are able to go on in our work to facilitate Russian exports,” Guterres told a press conference.

The accord helped alleviate foot shortages triggered by the Russian invasion of Ukraine, a major grain exporter, and its blockade of Ukrainian ports.

Russia said last week that a Ukrainian sabotage group had blown up a section of a pipeline that Russia used to export ammonia — a key component for making fertilizer.

That stretch of the conduit is in Ukraine. The two countries have blamed each other for the attack.

The resumption of Russia’s ammonia exports through the pipeline is one of Moscow’s conditions to continue with the grain export deal.

The Kremlin on Thursday said the blast on the pipeline would have a “negative” effect on talks to renew the grain export deal.