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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.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.
  • Dubai Chambers briefs EU Missions about UAE Corporate Tax Law

    DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law.The workshop, organized  in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial interests...
  • Iran-EU trade posts 9.2% drop to US$847mn in first two months of 2023

    Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering a 9.2% fall compared with the same period of the year before.Data released by Eurostat show Germany was the top trading partner of Iran in the EU region during the...
  • Jordan’s exports to EU nations in January,  February 2023 rose to US$87m

    AMMAN, JORDAN - Value of Jordanian exports to European Union countries increased during January-February period of 2023, by 108.5 percent to reach about US$87 million (JD62 million), compared to about US$42 million (JD30 million) for the same period last year.According to foreign trade data issued by the Department of Statistics...
  • Iran imposes sanctions on UK, EU individuals, entities

    Tehran, Iran— Iran has announced new sanctions against the UK and European Union “individuals and entities” for supporting what it terms as terrorist groups in the Islamic Republic.According to MEHR News Agency, sanctions have been imposed on 17 individuals and four entities for inciting and encouraging terrorist acts and violence...
  • Air pollution causes more than 1,200 deaths a year: EU agency

    The EU environmental agency said that air pollution is responsible for causing more than 1,200 premature deaths a year in under 18's across Europe and raises the risk of chronic disease later in life. It said that in spite of recent improvements, "the level of key air pollutants remain stubbornly...
  • EU foreign policy chief asks European navies to patrol Taiwan Strait

    Paris, France--EU foreign policy chief Josep Borrell called on European navies to patrol the disputed Taiwan Strait, in a opinion piece in a French weekly published Sunday.Borrell's comments in the Journal Du Dimanche, echo comments he made last week when he stressed how crucial Taiwan is to Europe.Taiwan "concerns us economically,...
  • Canada to allot US$9.8bn in subsidies for Volkswagen battery plant

    Ottawa, Canada--Canadian Prime Minister Justin Trudeau announced Friday up to 13.2 billion Canadian dollars ($9.8 billion) in subsidies over 10 years for Volkswagen's first overseas battery plant, to be built in St. Thomas, Ontario.The production support matches incentives by US President Joe Biden's administration, as Washington's trading partners work to keep up...
  • Tunisia shuts offices of opposition party Ennahdha

    The move came a day after the arrest of the party's leader, Rached Ghannouchi, 81, at his home in the capital Tunis, the latest in a string of opposition figures held. Ennahdha was the largest party in Tunisia's parliament before President Kais Saied dissolved the chamber in July 2021.
  • Boeing delivers 130 aircraft in Q1

    It edged out its rival Airbus by just three aircraft.
  • This March sets a temperature record for second-warmest month ever

    Paris, France--Earth had its second-warmest March on record with Antarctic sea ice shrinking to its second-lowest extent, the EU's climate monitoring agency said on Thursday."The month was jointly the second warmest March globally," said a report from the Copernicus Climate Change Service.The report is based on computer-generated analyses using billions...
  • French, EU leaders to push China for active role in Ukraine peace process

    Beijing, China--French and EU leaders will on Thursday seek to make Europe's case for bringing an end to the conflict in Ukraine in a Beijing meeting with Xi Jinping, a close ally of Vladimir Putin.French President Emmanuel Macron and European Commission chief Ursula von der Leyen will be greeted late afternoon...
  • US, EU vow to keep energy markets stable, maintain Russia sanctions

    A joint statement issued after the tenth US-EU Energy Council in Brussels said competitive, liquid and transparent global energy markets remain critical to ensuring a reliable, sustainable, affordable, and secure energy supply for Europe to serve the transition to climate neutrality. The Council asked Russia to withdraw its forces from...
  • EU bloc records highest ever trade deficit in 2022

    BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching its lowest level since the start of the time series in 2002.The deficit was due, in particular, to a steep rise in the value of energy imports, which started towards...
  • Greek PM calls on EU to pay for fence extension along Turkey border

    Athens, Greece--Greek Prime Minister Kyriakos Mitsotakis on Friday called on the European Union to "seriously consider" providing financial aid to help extend an anti-migrant steel fence along the border with Turkey."I think it's about time for the EU to seriously consider providing European funds for these types of projects," the head...
  • Tunisia appeals to Europe for ‘more understanding’

    Calling for "constructive discourse" from the European Union after many leaders warned the country is facing a crisis that could impact the 27-member bloc, Tunisian Foreign Minister Nabil Ammar said that he had invited the European side to "show more understanding of this particular phase through which our country is...
  • Russia to deploy tactical nuclear weapons in Belarus: Putin

    Moscow, Russia--Russian President Vladimir Putin said Saturday he would deploy tactical nuclear weapons in neighbour and ally Belarus, bringing the arms to a country at the gates of the European Union.Putin has previously issued thinly veiled warnings that he could use nuclear weapons in Ukraine if Russia were threatened, reviving Cold...
  • EU, Germany reach deal on fossil fuel car phaseout

    BRUSSELS, BELGIUM - The European Union and Germany on Saturday said they had struck a deal after a dispute over the planned phaseout by 2035 of the sale of cars using fossil fuels.A landmark deal to prohibit new sales of fossil fuel cars from 2035 is key to the bloc's ambitious...
  • EU and Algeria look to consolidate energy, security ties

    The 27-country bloc would like to develop the partnership with Algeria "looking at the future, by prioritizing European investments in the renewable energy sector", Josep Borrell added in a statement. European governments, scrambling to find alternatives to Russian gas since last year's invasion of Ukraine that has sent prices soaring,...
  • Six EU countries urge Israel to stop settlement expansion in West Bank

    LONDON, UK-  Six European countries on Saturday called on Israel to stop expanding its settlements in  Palestine's West Bank.Britain, France, Germany, Italy, Spain and Poland have also jointly condemned the recent attack on Israeli citizens by Palestinian groups.In a joint statement, they said, "We urge the Israeli government to reverse...
  • EU and Britain agree on Northern Ireland trade deal

    Prime Minister Rishi Sunak and European Commission president Ursula von der Leyen adopted the deal at a meeting in Windsor, west of London. The deal follows more than a year of tense talks over the "Northern Ireland Protocol", which has unsettled the province 25 years on from a historic peace...
  • Germany’s Scholz arrives in India to expand business ties

    New Delhi, India--German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world's number four and five economies and push for progress on an EU trade deal despite differences over Ukraine."We want to further strengthen our bilateral relationship with India and our cooperation on global...
  • Iran hits back at EU and Britain, imposes retaliatory sanctions

    Taking retaliatory action for imposition of sanctions against the Islamic Republic, Iran has slapped 36 individuals and entities from the European Union and Britain with sanctions. According to the Iranian foreign ministry, Tehran has placed the names on its "sanctions list for supporting terrorism and terrorist groups" as well as...
  • EU says Israel deporting MEP ‘deeply disappointing’

    The EU called it "deeply disappointing" and "surprising" that Israel stopped and deported a Spanish MEP who had arrived for an official trip to the Palestinian territories. European Parliament lawmaker Ana Miranda tweeted that the action by Israeli authorities against her was a "diplomatic affront" and showed "disrespect" to the...
  • Kuwait FM meets EU’s Josep Borrell in Munich to discuss ties

    Munich, Germany--Kuwait Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah met High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell on the sidelines of the 59th Munich Security Conference.During the meeting, Sheikh Salem explained the stance of Kuwait on the issue of Schengen visa waiver for...
  • Ukraine and IMF reach deal paving way for ‘full-fledged’ loan

    Washington, United States--The IMF said Friday it has reached a staff-level agreement with Ukrainian authorities that opens doors to a full-fledged loan, which would also support the country's bid to join the European Union.Ukraine was seen to have "strong" performance under a four-month program with the International Monetary Fund, meeting its...
  • Morocco criticizes ‘unjust’ EU campaign over Pegasus spyware

    Rabat, Morocco--The Moroccan parliament decried Wednesday an "unjust campaign" against it at the European Parliament ahead of a hearing in Brussels over the North African country's alleged use of Pegasus spyware.The European Parliament is set to hear from experts, human rights defenders and journalists on Thursday on claims that Morocco had...
  • Morocco hands migrants more jail time over Melilla tragedy

    Rabat, Morocco--A Moroccan appeals court has increased the prison sentences of eight migrants over a deadly attempted crossing into the Spanish enclave of Melilla, their lawyer said Tuesday.Around 2,000 people, many of them Sudanese, stormed the frontier on June 24 in a bid to reach Spanish territory across one of...
  • European Union provides US$70m in financing to Jordan

    Amman, Jordan-- The European Union (EU) has signed two agreements with Jordan to provide it with a $70 million in financing.The first agreement will finance a $43 million program: "EU support to the Rule of Law in Jordan", in support of the Ministry of Justice, Judicial Council, Judicial Institute, and...
  • Qatar and EU discuss ways to enhance economic and trade ties

    Doha, Qatar-- Qatar and European Union have discussed means to enhance economic and commercial relations in a meeting between Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari and Thomas Jurgensen, Minister Counselor and the new head of Trade and Economic Affairs Section at the European Union During their meeting...
  • EU to expand sanctions on Iran over protest crackdown

    The EU will impose new sanctions on 37 Iranian officials and organizations over the crackdown on protests, but is still debating listing the Revolutionary Guard as a "terrorist" group, diplomats said. Foreign ministers from the bloc are to agree to adopt the fourth package of sanctions on Tehran over its...
  • Iranian diaspora demand EU blacklisting of Revolutionary Guards

    Pressure is growing among opposition exiles and activists for the European Union and United Kingdom to follow the United States and blacklist the Guards over the crackdown on the four months of protests since the death of Mahsa Amini in September.
  • EU warns TikTok chief to respect data privacy laws

    TiKTok chief executive Shou Zi Chew held official talks for the first time with EU vice presidents Margrethe Vestager and Vera Jourova, the bloc's home affairs commissioner Ylva Johansson and justice commissioner Didier Reynders.
  • 2022 fifth warmest year on record, EU climate report says

    The last eight years were the warmest. Average temperatures across 2022 -- which saw a cascade of unprecedented natural disasters made more likely and deadly by climate change -- make it the fifth warmest year since records began in the 19th century, according to the Copernicus Climate Change Service.
  • Iran executes two more men in connection with protests

    PARIS, FRANCE -  Iran on Saturday executed two men for killing a paramilitary force member during unprecedented protests sparked by the death in custody of a young woman.The latest hangings double the number of executions to four over the nationwide protests, which escalated since mid-September into calls for an end to...
  • Gas prices fall to lowest level in Europe since Ukraine war

    EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a limited impact on reducing what businesses and households pay.
  • Singapore economy grows more than expected in 2022

    Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance estimates by the trade ministry.
  • Croatia embraces euro, joins borderless Europe club

    Experts say the adoption of the euro will help shield Croatia's economy at a time when inflation is soaring worldwide after Russia's invasion of Ukraine sent food and fuel prices through the roof.
  • Two years after EU exit, UK business feels Brexit blues

    Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some of those returning home have been replaced by staff from non-EU countries. Witnessing the fallout, some high-profile bosses who voted for Brexit are calling on the government to relax the...
  • Gas giant Algeria slams EU gas price cap

    Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers agreed a temporary ceiling to mitigate a severe energy crunch following Russia's invasion of Ukraine. "Energy markets must stay free so upstream" investments can continue, he told a press conference,...
  • Iran, EU diplomatic heads meet at Jordan summit

    SWEIMEH, JORDAN - Iran's Foreign Minister Hossein Amir-Abdollahian met Tuesday with EU foreign policy chief Josep Borrell on the sidelines of a summit in Jordan, an Iranian diplomatic source said.The meeting, which was confirmed by Iran's official news agency IRNA, comes at a time when negotiations in Vienna aimed at reviving...
  • Iran says Jordan summit is a good opportunity for nuclear talks

    TEHRAN, IRAN - Iran's foreign minister said Monday that a summit to take place this week in Jordan will be a "good opportunity" for negotiations aimed at restoring the 2015 nuclear accord.On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), started in April last...
  • Elon Musk to restore suspended Twitter accounts of journalists

    Elon Musk said late Friday he would reinstate the Twitter accounts of several journalists that were suspended after he accused them of endangering his family.Musk carried out a Twitter poll asking whether he should restore the suspended accounts now or in a week's time. Nearly 59 percent of the 3.69...
  • EU energy ministers push gas price talks into next week

    Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses could face blackouts or unpayable bills, if not this winter then next.
  • Tweet sparks Musk fever in EU’s poorest corner

    The Tesla, SpaceX and now Twitter boss -- who is not immune to bouts of online whimsy -- recently commented on an image of the towering Belogradchik Rocks in northwestern Bulgaria under menacing clouds.
  • OPEC likely to hold oil output levels steady

    Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including...
  • Ukraine welcomes Russian oil price cap agreed by EU, G7

    Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy" Russia's economy. The price cap, previously negotiated on a political level between the G7 group and the European Union, will come into effect with an EU embargo on Russian crude...
  • G7, EU agree oil price cap to reduce Russia war funding

    The price cap is designed to make it harder to bypass the sanctions by selling beyond the EU. Poland's ambassador Andrzej Sados also said Brussels would take into account Polish and Baltic state suggestions for a "painful and expensive" ninth round of sanctions against Moscow. The White House described the...
  • OPEC set to stick or cut more amid plan to cap Russian oil price

    LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments. At their last ministerial session...
  • EU uncovers US$2.3-billion cross-border tax fraud

    The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France, Germany, Greece and Spain. Over 600 people participated in the scheme, "believed to be the biggest VAT carousel fraud ever investigated in the EU," according to the European Public Prosecutor's...
  • EU spent €15.2bn on imports of green energy products last year

    The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.