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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.

Which are priority sectors in 2022 Saudi budget?

Saudi Arabia has since the announcement of Vision 2030 managed to boost quite a few of its non-oil sectors.
  • Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil
  • For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone

Saudi Arabia is eyeing a budget surplus in 2022 after quite some time, even if oil prices remain low due to various factors.

“We aim to place further attention to the security and health of citizens and residents, human development, the continuation of economic growth and diversity, and financial sustainability,” King Salman said early in December when the country announced the budget for the coming year.

Saudi Arabia has since 2016 started a wide-ranging program to diversify its economy to end its dependence on oil.

Nevertheless, petroleum still generates more than two-thirds of public revenues of the kingdom.

However, Saudi Arabia has since the announcement of Vision 2030 in 2016 managed to boost quite a few of the other sectors.

For example, it has seen investment to the tune of $1 trillion in the infrastructure and real-estate front alone.

Now, with the new budget and the worst of the repercussions of Covid-19 expected to be in the rearview mirror, here are the sectors Saudi Arabia is focusing on in 2022: