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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.

MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big

Israeli civil defense and emergency responders conduct nighttime search and rescue operations among damaged buildings following a missile strike by Iran in Qiryat Gat, Israel on June 15, 2025. AFP
  • In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
  • The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors

Dubai, UAE – Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal for a 60-day ceasefire as Israel continues its unprecedented military exchange with Iran. Meanwhile, Iran has told mediators Qatar and Oman it will not negotiate while under Israeli attack, halting nuclear talks planned in Muscat.

US President Donald Trump is due to arrive in Canada’s Kananaskis for a G7 summit where leaders are weighing a united call to de-escalate the Israel-Iran crisis.

In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium. Santos’s board supports the deal if terms are finalised and no better offer emerges, highlighting the UAE’s push for strategic global energy assets.

A new S&P report warns that foreign direct investment inflows into the GCC may slow in 2025 due to weaker oil prices and shifting US trade policy, despite continued interest in renewables and tourism.

Separately, UAE President Sheikh Mohamed bin Zayed and UK Prime Minister Keir Starmer spoke by phone, stressing the need to ease tensions and boost regional stability.

The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors, which now make up over 75% of the economy. The country stays on track to reach its AED3 trillion GDP target by 2031.