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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 signs cooperation pact with Ethiopia on extradition, legal assistance

    Abu Dhabi, UAE - The UAE signed agreements on extradition and mutual legal assistance in criminal matters with Ethiopia. The...

    The new agreement aims at mutual cooperation in legal and judicial fields.

    According to Ethiopia's Ministry of Trade and Regional Integration, trade between Ethiopia and the UAE exceeded $2.5 billion in the last five years.

  • South Africa seeks wind energy to resolve power situation

    South Africa inked the first three of a series of agreements with independent producers to supply wind energy amid worsening...

    The coal-dependent country picked 25 wind and solar projects to generate a total of 2,583 megawatts.

    Official data earlier this month confirmed that GDP of South Africa shrank partly owing to the energy crisis.

  • Ukraine suffered nearly $1 trillion in losses since Russian invasion

    The figure was equivalent to five times Ukraine's annual GDP before the invasion in February, Oleg Ustenko, economic advisor to...

    In terms of "direct and indirect costs" Ukraine had suffered "somewhere close to $1 trillion" in damages, said the official.

    The official previously estimated the damage caused by Russian forces in the first 14 days of war totaled around $100 billion.

  • UK government revokes gas fracking ban in England

    Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.

    Fracking is carried out by blasting a mixture of water, sand and chemicals underground to release shale oil and gas.

    But environmentalists argue that the process contaminates water supplies, hurts wildlife, causes earthquakes and contributes to global climate change.

  • Fossil fuels make up 90 percent of Middle East air pollution: Study

    In 2017, an international team of researchers set off on an epic voyage across the eastern Mediterranean, through the Suez...

    The World Health Organization this year said the MENA region had some of the poorest air quality on Earth.

    Emissions from container vessels in one of the busiest shipping lanes in the world also contributed to the smog.

  • ‘Hungary wants EU sanctions on Russia lifted by year end’

    Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a...

    Hungary is highly dependent on Russian oil and gas and Budapest has already secured an exemption from sanctions on Russian crude oil imports via pipelines.

    EU foreign ministers held an emergency meeting to discuss after Moscow mobilized reservists for its war in Ukraine.

  • UAE, Jordan ink pact to standardize specifications

    The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...

    The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.

    The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.

  • Saudi Education Minister meets founder of edX platform in US

    Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...

    The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,

    The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.

  • Truss at UN vows UK military aid ‘until Ukraine prevails’

    Truss became the latest Western leader at the UN General Assembly in New York to rail against Russian President Vladimir...

    Truss's comments came amid growing resentment in some quarters of the developing world over the West's massive spending on weapons for Ukraine

    The Conservative leader also said that the United Kingdom was committed to spending three percent of its GDP on defense by 2030

  • US announces $2.9 billion for resolving global food insecurity

    The White House said food supplies are being dangerously disrupted by "the compounding impacts of the pandemic, the deepening climate...

    The White House said food supplies are being dangerously disrupted by "the compounding impacts of the pandemic, the deepening climate crisis, rising energy and fertilizer costs.

    The US aid "builds on the $6.9 billion in US government assistance to support global food security already committed this year," a statement said.