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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.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.
  • US pledges to stop Iran from making nuclear weapons

    The US will use "all elements of its national power" to stop Iran from acquiring nuclear weapons, President Joe Biden...

    The United States "is prepared to use all elements of its national power to ensure that outcome", said US President Joe Biden.

    Israel Prime Minister Lapid has said that countering Iran would be the "foremost" issue during bilateral talks.

  • ADFD, ADEX to give US$92m loan for Bahrain water supply project

    Abu Dhabi Fund for Development and the Abu Dhabi Exports Office signed two loan agreements with the Electricity and Water...

    AED will provide US$ 41mn to the Electricity and Water Authority in Bahrain to finance a water supply network project

    ADEX will provide US$ 51 million for the project which aims to enhance the capacity of the water transmission networks

  • Libya’s state oil company chief resists move to replace him

    Libya's Tripoli-based government has named a new head of the state oil company to replace veteran technocrat Mustafa Sanalla, who...

    Farhat Bengdara and four others will from now on make up the "board of directors of the National Oil Corporation".

    Mustafa Sanallla has led the National Oil Corporation since 2014,. The Corporation has largely managed to remain neutral in the face of political wrangling.

  • Jordan, Greece discuss cooperation in construction, energy, agriculture

    The two sides signed several agreements to implement double taxation and the Cultural and Technical Cooperation Program 2022-2025.

    The two sides signed several agreements to implement double taxation and the Cultural and Technical Cooperation Program 2022-2025

    They decided to work for increased cooperation in the economy and commerce, as well as higher education, transportation, energy and agriculture

  • Saudi-Israel normalization still long way off

    Israeli journalist Yoav Limor's freindly experience in Saudi hints at changes in Saudi public opinion that officials hope could one...

    There is little chance of Riyadh shifting its focus to ties with Israel "while ignoring the Palestinian issue", Harvard University fellow said

    Israeli praised Mohammed al-Issa, a Saudi cleric who travelled to Poland in 2020 for events marking 75 years since liberation of the Nazi death camp Auschwitz

  • Russia and Ukraine near grain deal in first talks since March

    Russia and Ukraine on Wednesday made substantive progress in their first direct talks since March on a deal to relieve...

    Ukraine is a vital exporter of wheat and grains such as barley and maize, and has supplied nearly half of all the sunflower oil traded on global markets

    UN Secretary-General Antonio Guterres said the talks had provided a "ray of hope to ease human suffering and alleviate hunger around the world"

  • Melilla migrants likely died of ‘suffocation’: Moroccan probe

    At least 23 migrants who died last month in a mass attempt to enter the Spanish enclave of Melilla from...

    The United Nations, the African Union and independent rights groups have denounced the use of excessive force by Moroccan and Spanish security personnel

    The CNDH defended Moroccan forces' actions, saying such cases were "isolated" and citing the danger posed by "the large number of migrants" carrying sticks and stones

  • Biden vows to advance Israel’s integration into Middle East

    Air Force One will make a first direct flight from Israel to Saudi Arabia amid efforts to build ties between...

    Biden, 79, will also meet Palestinian leaders angered by what they describe as Washington's failure to curb Israeli aggression.

    The persistent frustrations of Israeli-Palestinian diplomacy are nothing new for Biden, who first visited the region in 1973 after being elected to the Senate.

  • Diversifying economy focus of UAE’s plans: President

    The UAE will continue to strengthen cooperation and enable positive, respectful dialogue between countries to achieve stability and prosperity for...

    Sheikh Mohamed said more than 200 nationalities are actively participating in the growth and development of the country’s economy.

    UAE’s priorities include strengthening people’s capabilities in science and technology, and develop it further to benefit all economic areas and the society, he said.

  • Supply risks still haunt market despite high oil prices: IEA

    The Paris-based agency cautioned that the global economic recovery could be derailed unless governments take measures to reduce consumption and...

    The IEA now expects oil demand to rise this year to 99.2 million barrels per day (mbd) and to 101.3 mbd next year.

    Meanwhile, supply climbs to 100.1 mbd this year. But even if it hits an expected record of 101.1 mbd next year, it will fall below demand.