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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.

Extreme E races for electric SUVs 2024 kick off in Jeddah

  • The fourth annual "Extreme E" all-electric sport-utility vehicle (SUV) off-road racing series will witness the participation of eight two-racer teams
  • The first edition of this global competition was held in AlUla in 2021 and the 2022 and 2023 editions were held in NEOM

Jeddah, Saudi Arabia – Organized by the Saudi Arabian Cycling Federation under the supervision of the Ministry of Sport, the fourth annual “Extreme E” all-electric sport-utility vehicle (SUV) off-road racing series will kick off Saturday in Jeddah with the participation of eight two-racer teams.

The first edition of this global competition was held in AlUla in 2021 and the 2022 and 2023 editions were held in NEOM.

On this occasion, the president of the Saudi Automobile and Motorcycle Federation, Prince Khalid bin Sultan bin Faisal, expressed happiness to host the mega event in the Kingdom for the fourth consecutive year, saying that organizing the international racing event in the Kingdom is the fruit of the ongoing support of the leadership and the follow-up of the Minister of Sport.

Saudi Arabia is hosting the mega event for the fourth consecutive year.

Pivot to e-vehicles

Saudi Arabia is promoting e vehicles in a big way. In 2022, the kingdom announced the launch of its first brand of electric vehicles, part of a broader push to diversify the economy of the world’s biggest oil exporter.

The company, known as Ceer is geared to contribute to Saudi Arabia’s efforts towards carbon emissions reduction and driving sustainability to address the impact of climate change. the official Saudi Press Agency (SPA) had reported then.

It is a partnership with Foxconn, China’s biggest private sector employer.

Ceer “will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA region, including sedans and sports utility vehicles,” the SPA had reported. adding the company was expected to create “30,000 direct and indirect jobs”.