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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.
  • UAE, Kyrgyz Presidents review bilateral relations

    ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov,...

    UAE and Kyrgyzstan affirmed their common interest in enhancing bilateral relations.

    The meeting explored various opportunities of the UAE- Kyrgyz friendship and affirmed to further cooperation in economy, trade.

  • Ukraine grain exports resume despite Russian pullout from landmark deal

    As one of the brokers of the grain deal, Turkey has stepped up diplomacy with the two warring countries in...

    Turkey's defence minister Hulusi Akar said talks were under way with the relevant parties for the agreement to remain in place.

    Ukraine, one of the world's largest grain exporters, was forced to halt almost all deliveries following Russia's invasion in late February.

  • Nedaa, Nokia ink 5G deal in Dubai

    5G network will help Nedaa provide better services.

    With the introduction of 5G, Nedaa will be able to support enhanced services for public safety and management of vital operations.

    The MoU sets a framework for upgrading the existing network capabilities and introducing agile and advanced services.

  • ADNOC sets Upstream Methane Intensity target of 0.15 percent by 2025

    Abu Dhabi, UAE--- Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane...

    ADNOC’s 0.15 percent methane intensity target means ADNOC will be ranked in the Gold Standard category by the Oil and Gas Methane Partnership 2.0 (OGMP 2.0.

    Oil and Gas Methane Partnership 2.0 (OGMP 2.0 is a a multi-stakeholder initiative launched by the United Nations Environment Program (UNEP) and the Climate and Clean Air Coalition.

  • Europe’s gas storage reserves now at over 90 percent

    With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have...

    Spanish gas regulator Enagas says the backlog at ports is expected to last at least until this week.

    Europe has made efforts to fill its storage facilities to reduce dependence on Russian gas and sought alternative suppliers.

  • Upcoming climate events to boost UAE-Egypt ties

    The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral...

    The upcoming events will witness further cooperation between the two countries, especially with Egypt hosting COP27 in Sharm El-Sheikh and the UAE hosting COP28 in 2023

    The UAE is the largest investor in Egypt, with over 1,250 Emirati firms operating in the country. Egypt, meanwhile, was among the first nations to recognize the formation of UAE

  • Staring at drought next year, Iraq digs more than 500 wells in 2022

    Al-Mishkhab, Iraq - Iraq has long drilled the desert for oil, but now climate stress, drought and reduced river flows are...

    Compounding the water stress, upstream dams, mainly in Turkey, have vastly reduced the flow of the Tigris and Euphrates.

    In a country where one in five people work in agriculture, water shortages have destroyed livelihoods and driven a rural exodus.

  • Algeria hosts first Arab summit since Israel normalization deals

    Algeria mediated a reconciliation deal in October between rival Palestinian factions Fatah and Hamas. While few believe the deal will...

    The Arab League held its last summit in 2019, prior to both the pandemic and the UAE's historic US-backed normalization deal with Israel.

    The agreement, only Israel's third such deal with an Arab state, was followed by similar accords with Bahrain, Sudan and Morocco.

  • Ukraine blames Russian blockade for making grain export ‘impossible’

    Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...

    UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.

    The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.

  • Investment to tackle climate change falls in 2022, says UNCTAD

    Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...

    Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.

    Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.