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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.
  • 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.

  • Lebanon’s Aoun vacates presidential palace as power vacuum looms

    Michel Aoun was vacating Lebanon's presidential palace, amid acclaim from his supporters, a day before his mandate expires without a...

    Lebanese lawmakers have tried but failed four times in a month to agree on electing a successor after Aoun's six-year term ends.

    Lebanon is being run by a caretaker government as political divisions have prevented the formation of a new cabinet.

  • Iran trial begins for five facing death penalty over protests

    Signalling its tough approach toward protestors, Iran has put on trial five people charged with offenses that can carry capital...

    The judiciary said on Wednesday that charges have been filed against more than 1,000 individuals in provinces across Iran in connection to the protests

    Mizan reported that an individual identified as Mohammad Ghobadlou was charged in Tehran with "corruption on earth", an offence punishable by death

  • Gas tanker explosion kills at least nine people in Baghdad

    At least nine people were killed and many wounded when a gas tanker blew up in Baghdad on Saturday night...

    An AFP correspondent said the windows of nearby buildings were blown out and vehicles in the area were damaged

    Safety standards in both the transport and construction sector are frequently flouted in Iraq, and accidents are a common occurrence

  • Business deals enhance GCC-China cultural ties

    Strengthening of political, economic and trade relations between China and the Gulf Cooperation Council countries during the past 15 years...

    As of the beginning of 2020, China’s contracts and investments in the GCC had reached nearly US$190 billion since 2005 and are expected to grow further

    The number of Chinese residents in the UAE increased from 2,000 in the early 1990s to nearly 300,000 by 2018, with 270,000 concentrated in Dubai alone

  • GCC condemns German minister’s remarks on Doha World Cup

    The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to...

    GCC chief Nayef al-Hajraf expressed support for Qatar in a statement published on the council's website.

    The six-member Gulf bloc backs Doha in addressing any interference in its internal affairs, the GCC chief said.

  • Russia suspends participation in Ukraine grain deal

    Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...

    The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.

    Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.

  • ‘EU froze Russian assets worth US$17bn since Ukraine war began’

    The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders...

    The figure has risen from the roughly US$13.7 billion from oligarchs and other entities that the EU had frozen and announced in July.

    So far, the assets of 90 people worth more than $16.9 billion in seven members, including $2.1 billion in Germany, have been frozen.

  • Jordan to host renewable energy investment forum

    AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...

    The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.

    The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.

  • Jordan cabinet reshuffle aims at modernization plans

    Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...

    The plans include political, economic and public sector modernization.

    The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.