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Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

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.

Syria cuts off ties with Ukraine, clings to its ally Russia

Workers man a terminal while a Syrian national flag and a poster showing Syrian President Bashar al-Assad hangs with text in Arabic reading "we are continuing with you" hang on a wall at the power plant in Aleppo. AFP
  • Ukrainian President Volodymyr Zelensky already announced he was severing ties with Syria late last month after Syria recognized the Russian-backed breakaway republics
  • The breakaway states of Donetsk and Lugansk, whose independence Moscow recognized in February, are situated in the Donbas region at the center of Russia's invasion of Ukraine

Syria announced Wednesday that it was severing ties with Ukraine in support of its close ally Russia, saying the move was a response to a similar move by Kyiv.

“The Syrian Arab Republic has decided to break diplomatic relations with Ukraine in conformity with the principle of reciprocity and in response to the decision of the Ukrainian government,” a foreign ministry official, who was not identified, told the state news agency SANA.

Ukrainian President Volodymyr Zelensky already announced he was severing ties with Syria late last month after Syria recognized the Russian-backed breakaway republics of Donetsk and Lugansk in eastern Ukraine.

“There will no longer be relations between Ukraine and Syria,” Zelensky said at the time.

The breakaway states of Donetsk and Lugansk, whose independence Moscow recognized in February, are situated in the Donbas region at the center of Russia’s invasion of Ukraine which was launched on February 24.

Syria was the first country apart from Russia to recognize their independence.

The government of President Bashar al-Assad, who has relied heavily on Russian support in his country’s decade-old civil war, had already recognized two other Russian-sponsored breakaway republics in 2018.

Abkhazia and South Ossetia are internationally recognized as part of Georgia, which gained independence from the Soviet Union in 1991, but Russia and a handful of other countries recognize their independence.