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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.
  • New Kuwaiti government sworn in after political crisis

    Kuwait's crown prince swore in a new government, less than a month after the emirate held parliamentary elections in which...

    The new government team, led by Prime Minister Sheikh Ahmed Nawaf al-Ahmed Al-Sabah comes after lawmakers objected to an initial line-up in early October.

    The new government will be tasked with dealing with "priority issues" such as development, investments and the fight against corruption.

  • Will immediately respond to new EU sanctions, says Iran

    Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over...

    Iran will "decide and act immediately in accordance with the decisions and actions" taken by EU member countries.

    Iran has been rocked by demonstrations since the death of 22-year-old Amini and a crackdown on protesters.

  • UAE contributes $25 million toward Al Makassed Hospital in East Jerusalem

    Abu Dhabi, UAE---The United Arab Emirates will contribute $25 million toward Al Makassed Hospital in East Jerusalem in collaboration with...

    At Al Makassed Hospital , it is expected that more than 130,000 people will benefit from its health services.

    Sultan Mohammed Al Shamsi, Assistant Minister of Foreign Affairs, said the agreement reflected UAE's historic commitment to Palestinians.

  • Credit Suisse to pay US$495m to settle legacy case

    It has agreed to pay $495 million as part of a deal reached with US prosecutors in a long-running dispute...

    In the claim filed in 2013, Credit Suisse was criticized for not having provided sufficient information on the risks relating to $10 billion of mortgage-backed securities

    Last year, Credit Suisse paid $600 million to financial guarantee insurer MIBA to settle other long-running litigation connected to the US subprime mortgage crisis

  • Biden faces tough options with Saudis after OPEC+ oil price hike

    US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations,...

    Saudi Arabia has insisted the OPEC+ decision was purely economic and said US weapons sales serve both countries' interests

    The Biden administration has voiced openness to retaliatory measures in Congress by enraged fellow Democrats

  • President Raisi of Iran accuses Joe Biden of “inciting chaos”

    Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi...

    The street violence has led to dozens of deaths, mostly among protesters but also among the security forces, and hundreds have of demonstrators been arrested

    Biden had said Friday that "we stand with the citizens, the brave women of Iran

  • DEWA’s Jebel Ali plant enters Guinness World Records for second time

    It was named as the Largest Single-Site Water Desalination Facility in the World by the Guinness World Records.

    The plant has the production capacity of 490 million Imperial Gallons of water per Day, which is equivalent to 2,227,587 Cubic Metres per Day.

    DEWA aims to increase its SWRO production capacity to 303 MIGD by 2030, reaching 42 percent instead of its current share of 13 percent.

  • Iraq investigates $2.5 billion ‘theft’ from tax agency

    The anti-corruption commission announced Sunday it has launched an investigation and said in a statement that it will provide the...

    The finance ministry's probe uncovered a theft of 3.7 trillion Iraqi dinars (about $2.5 billion) from the account of general commission for taxes at Rafidain Bank

    Iraq ranks 157 out of 180 countries in Transparency International's corruption perceptions index and criminal charges are rare in the country

  • IMF and Tunisia reach agreement on $1.9 billion loan

    The agreement in principle, reached between IMF staff and Tunisian authorities meeting this week in Washington, still requires the approval...

    Under a four-year accord, Tunisia has committed to undertake a "comprehensive economic reform program" as the country gets access to the money.

    On Saturday, thousands of people took to the streets of Tunis and protested against the policies of President Kais Saied who seized power last year.

  • Finance Ministers of UAE, India discuss trade, economic ties

    UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman...

    The meeting sought to discuss means of boosting mutual cooperation between UAE and India in areas of common interest.

    The meeting deliberated the priorities set by India in its upcoming G20 presidency and the ways the UAE can support them.