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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.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

Iran appoints envoy to Saudi Arabia after seven years

Both the countries inked a reconciliation agreement in China on March 10 this year. (AFP)
  • Saudi Arabia and Iran, after years of discord, signed a surprise reconciliation agreement in China on March 10.
  • Saudi Arabia had severed relations with Iran in 2016, after its embassy in Tehran and consulate in the second city of Mashhad were attacked.

Tehran, Iran – Iran has named an ambassador to Saudi Arabia, state media reported Wednesday, sealing a thaw in relations more than seven years after the regional rivals severed ties.

The new envoy, Alireza Enayati, previously served as Iran’s ambassador to Kuwait, assistant to the foreign minister and director general of Gulf affairs at the foreign ministry, the English-language Iran Daily said.

There was no immediate confirmation of his appointment from the foreign ministry of the Islamic republic.

The Middle East heavyweights, after years of discord, signed a surprise reconciliation agreement in China on March 10.

Saudi Arabia had severed relations with Iran in 2016, after its embassy in Tehran and consulate in the second city of Mashhad were attacked.

The two governments held several rounds of dialogue in Iraq and Oman before signing the reconciliation agreement.

They had backed opposing sides in conflict zones across the Middle East for years before mending fences.

In Yemen, Saudi Arabia has led a military coalition in support of the internationally recognized government, while Iran backed the Huthi rebels who control the capital Sanaa and large areas of the north.