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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.

KSA, Egypt ink draft pact for PIF investment in Egypt

Saudi Arabia and Egypt had signed a draft agreement for Public Investment Funds in Egypt.
By TRENDS Desk
March 17, 2022 2:48 pm
  • The two sides stressed that this agreement based on the close historical ties that unite Saudi Arabia and the Arab Republic of Egypt
  • With this agreement, the two countries will have easy access to procedures for investing in Egypt through fund public investments

Saudi Arabia and Egypt on Wednesday signed an agreement for the investment by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of at least $500 billion.

The agreement was signed by Saudi Minister of State and Cabinet’s Member for Shura Council Affairs Dr Essam bin Saad bin Saeed and the Egyptian Minister of Planning and Economic Development. in the presence of the Egyptian Prime Minister Dr. Mostafa Madbouly.

The two sides stressed that this agreement based on the close historical ties that unite Saudi Arabia and the Arab Republic of Egypt as well as on directives of the leadership of the two countries to strengthen cooperation.  The agreement would provide the two countries with easy access to procedures related to investment in Egypt through a fund public investments.

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