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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.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.
  • Iraq president feels early elections can end crisis

    Less than a year after the last polls, Iraq President Barham Saleh has encouraged early elections to settle a political...

    Sadr and his supporters have spearheaded calls for the dissolution of parliament and new legislative elections following months of political paralysis

    Under the constitution, parliament can only be dissolved by an absolute majority vote in the house, following a request by one-third of deputies or by the prime minister

  • Moscow warns EU against restricting Russian tourists

    The Kremlin on Tuesday warned it would respond if the European Union makes it harder for Russians to travel to...

    The idea to ban Russian tourists from Europe has divided EU nations, with some in full support and some against it.

    The European Union had already suspended visa facilitation for Russian official delegations and business leaders.

  • UAE offers low-risk business climate

    Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.

    Country risk assessment is the process of determining a nation's ability to transfer payments.

    It takes into account political, economic and social factors. It is used to help organizations make strategic decisions when conducting business in a country with excessive risk. 

  • What can Europe do to fight soaring power bills?

    European leaders want to break the link between soaring gas prices and electricity bills, a wholesale reform of the EU...

    Electric power can't be stockpiled, unlike natural gas, so production and use must constantly be balanced.

    In the EU, electricity pricing is determined by the cost of the last energy source employed to respond to demand - often a gas-fired power plant

  • Saudi seized 700m Captagon pills smuggled via Lebanon since 2015: Envoy

    Saudi Arabia has seized over 700 million narcotic pills that entered its territory via Lebanon in the past eight years,...

    The kingdom suspended fruit and vegetable imports from Lebanon last year, accusing it of inaction after seizing millions of captagon amphetamine pills smuggled in fruit shipments.

    Captagon, an amphetamine that is wreaking havoc in Saudi Arabia and other Arab states, is produced mainly in Syria, as well as in Lebanon.

  • Iraq, Kuwait, US conduct joint patrol in Arabian Gulf

    Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...

    Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills

    US ships included patrol coastal ship USS Sirocco (PC 6) and fast response cutter USCGC Charles Moulthrope (WPC 1141)

  • UN chief calls for restraint as Iraq descends into chaos

    Hours after Baghdad’s Green Zone plunged into chaos, UN chief Antonio Guterres has called for "restraint" in Iraq, asking all...

    Tensions have soared in Iraq amid a political crisis that has left the country without a new government, prime minister or president for months

    The situation escalated sharply after Sadr's supporters stormed the government palace on Monday following their leader's announcement

  • Shelling targets Baghdad’s Green Zone amid chaos after Sadr quits politics

    Tensions have soared in Iraq amid a political crisis that has left the country without a new government, prime minister...

    The security source said Sadr's supporters opened fire at the Green Zone from the outside, adding that security forces inside were not responding

    Protests spread to other parts of the country, with Sadr followers storming government buildings in the cities of Nasiriyah and Hillah south of Baghdad

  • Iran says nuclear deal ‘pointless’ without end to IAEA probe

    The Iran nuclear deal with world powers still appears to be far from certain as President Raisi now says that...

    The IAEA has referred to the traces of nuclear materials as a "safeguards" issue

    The agreement between Iran and six world powers -- Britain, China, France, Germany, Russia and the United States -- gave the Islamic republic sanctions relief

  • Saudi-Thai Business Council set up to enhance trade

    The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.

    The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.

    Thailand's Deputy Prime Minister said that discussions with Saudi officials resulted in signing of three pacts