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Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

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.
  • EU tells Israel to reverse move to cut off Palestinian banks

    Brussels, Belgium -- The EU on Wednesday urged Israel to undo a move by a far-right minister that threatens to paralyze Palestinian financial institutions. Israeli finance minister Bezalel Smotrich announced Tuesday that Israel had cancelled a waiver allowing its banks to work with Palestinian ones. "The European Union is deeply...
  • As AI rises, lawmakers try to catch up

    Artificial Intelligence promoters reckon it is revolutionizing human experience, but critics stress that the technology risks putting machines in charge of life-changing decisions. Its promoters reckon it is revolutionizing human experience, but critics stress that the technology risks putting machines in charge of life-changing decisions. Regulators in Europe and North...
  • EU stops import of products which causes deforestation

    The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where they are deemed to contribute to deforestation. The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking". Illegal production...
  • EU spent €11.8 billion on imports of non-plug-in hybrid cars in 2021

    Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports of hybrid and electric cars (55 percent).
  • EU head says bloc must act over US climate plan changes

    EU chief Ursula von der Leyen said the bloc must act to address "distortions" created by Washington's $430-billion plan to spur climate-friendly technologies in the United States. The European Union must "take action to rebalance the playing field where the IRA (Inflation Reduction Act) or other measures create distortions", von...
  • OPEC+ to maintain current output level amid uncertainty

    Major oil-producing countries led by Saudi Arabia and Russia agreed to maintain their current output levels. Representatives of 13 members of the Organization of the Petroleum Exporting Countries led by Riyadh, and their 10 allies headed by Moscow, decided to stick to a production cut of two million barrels per...
  • Kremlin rejects $60 oil cap Ukraine says will ‘destroy Russia’s economy’

    The $60 oil price cap will come into effect on Monday or soon after, alongside an EU embargo on maritime deliveries of Russian crude oil.
  • Envoy eyes more cooperation, $6.32bn bilateral trade this year as UAE-Belgium ties mark 51st anniversary

    Brussels needs to find new energy suppliers and we recognize the important role of the UAE on that front, Belgian ambassador to the UAE Antoine Delcourt tells TRENDS
  • EU gives US$131 million to WHO Universal Health Coverage Partnership

    GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate the achievement of universal health coverage. The letter of intent foresees an additional contribution from the European Union (EU) of US$131 million for the continuation of WHO's assistance to its...
  • Eurozone’s unemployment drops to record low

    The reading -- the lowest since Eurostat started compiling jobless figures in April 1998 -- was an indicator that the economies of the 19 EU nations using the euro had bounced back after the Covid pandemic. The seasonally adjusted unemployment rate was markedly less than the 7.3 percent recorded a...
  • Britain eyes digital trade accord with Ukraine, boost in bilateral relations

    Britain's Trade Secretary Kemi Badenoch and Ukrainian Economy Minister Yulia Svyrydenko will meet in London to unveil the deal, the government said in a statement. "Trading digitally is particularly important in the current conflict, where damage to Ukrainian infrastructure and warfare makes it much harder to trade physically," the statement...
  • 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.
  • European Education Area to take EU-UAE learning cooperation to the next level, says top official

    It will open opportunities for Emirati youth to study in European Union, further strengthening the existing people-to-people ties, adds Margaritis Schinas, Vice-President of the European Commission for “Promoting Our European Way of Life”, who was on an official trip to the UAE.
  • EU passes resolution to sanction Russian allies

    The European Union gave itself legal authority to take action against anyone who helps Russia avoid its sanctions, the EU presidency said. It said member states agreed that violating sanctions against Russia be considered an "EU crime". This would make it easier to add individuals and entities from outside the...
  • Gas price cap divides EU energy ministers’ meeting

    BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were divided over a gas price cap proposal slammed by many as a "joke". They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would...
  • Air pollution killed 238,000 Europeans prematurely in 2020: EEA

    Across the 27-nation bloc that year, "exposure to concentrations of fine particulate matter above the 2021 World Health Organization guideline level resulted in 238,000 premature deaths," the European Environment Agency said in a new report.
  • UN chief says stop ‘blame game’ at deadlocked climate talks

    Developing nations least responsible for global emissions are pushing rich polluters to agree at COP27 on the creation of a fund to compensate countries facing huge losses from climate impacts. After dragging their feet over loss and damage over concerns it would leave rich nations legally exposed to open-ended demands...
  • EU pledges US$1bn in climate funding for Africa

    The initiative, launched at UN climate talks along with France, Germany, the Netherlands and Denmark, will combine "existing and new" programmes to prepare for future impacts of a warming world, European Commission Vice President Frans Timmermans said, without detailing the total amount of new finance.
  • Russia now routes oil through Turkey to reach EU

    The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.
  • COP27 climate talks inch toward ‘loss and damage’ showdown

    The G77+China block of more than 130 developing nations called in a position paper for a special fund "for assisting developing countries in meeting their costs of addressing non-economic and economic loss and damage" caused by extreme weather disasters and rising sea levels.
  • Crises augment EU-GCC energy & security cooperation

    Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an important part of energy supplies to the EU has been coming from the Gulf countries, including the UAE. “This has changed the energy landscape of Europe,” he says.
  • Germany bans chipmaker’s sale to Chinese firm

    Fears have been growing in Europe's economic powerhouse about an over-reliance on Beijing, and letting critical infrastructure fall into the hands of Chinese state-linked companies. In particular, the microchip industry has come under scrutiny, as it produces key components used across industry.
  • Renault to reorganize towards electric future

    The electric vehicle market is expected to grow rapidly in response to consumers' worries about climate change, putting pressure on manufacturers to develop less polluting products. The European Union last month agreed to phase out new CO2-emitting vehicles by 2035, a move set to turbo-charge the production of electric prototypes...
  • EU warns of retaliation against US electric car subsidies

    Paris, France - The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies that favor domestic manufacturers. The 27-nation bloc is upset about Washington's "Inflation Reduction Act", which will see vast spending on green energy initiatives and includes tax breaks for US-made electric...
  • UAE, EU can jointly tackle challenges like climate change: Borrell

    Abu Dhabi, UAE - UAE and European Union discussed ways to enhance cooperation relations in multiple issues of mutual concern including energy. Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, and Josep Borrell, Vice-President of the European Commission,  reviewed the latest developments on the regional and international...
  • ‘EU froze Russian assets worth US$17bn since Ukraine war began’

    The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders said in an interview. The figure has risen from the roughly $13.7 billion from oligarchs and other entities that Reynders in July announced the EU had frozen, mainly in five...
  • Iran retaliates to European Union sanctions over protest crackdown

    Iran's foreign ministry announced in a statement sanctions against eight institutions and 12 individuals based in the EU for "supporting terrorist groups", "inciting violence" and "provoking riots, violence and terrorist acts" in the Islamic republic.
  • Israel shares intel with US on Iran drones in Ukraine

    Calling for tough action against Iran, president of Israel has shared intelligence with the United State to prove that Tehran supplied drones to Russia that have reaped destruction in Ukraine. In this connection, President Isaac Herzog held talks with Secretary of State Antony Blinken on a visit to Washington.
  • Sanctioned Iran general tells EU to ‘buy coal’ with assets

    The EU's 27 member states have been squabbling for months over measures to lower energy bills as winter nears.
  • Iran says US wants nuclear concessions by backing protests

    TEHRAN, IRAN - Iran on Saturday accused the United States of seeking to gain concessions in nuclear talks aimed at restoring the 2015 agreement, by supporting protests over Mahsa Amini's death. The Islamic republic has been rocked by demonstrations that flared over the death of the 22-year-old Amini on September...
  • Thousands join Hungary teacher rebellion over ‘humiliating’ pay

    With supermarket cashiers paid more than most teachers, thousands have joined the protests since the beginning of September, with human chains formed around schools across the country. Another mass protest is planned for Sunday.
  • EU agrees ‘roadmap’ to contain energy prices

    The summit agreement set out a "solid roadmap to keep on working on the topic of energy prices", European Commission chief Ursula von der Leyen told a media conference. The published text calls on the European Commission and EU countries in the coming weeks to find ways to shield consumers from...
  • Crypto scams give law enforcement agencies tough time

    US federal agencies have often concentrated on headline-grabbing suspects like Heather Morgan, an amateur rapper nicknamed "Razzlekhan" who was charged with money laundering in February, and more recently reality TV star Kim Kardashian, who was fined this month for illegally promoting a cryptocurrency.
  • EU seeks new sanctions on Iran for drones supply to Russia

    The hardening EU stance towards Tehran appeared to bury deeper hopes of reviving a 2015 Iran nuclear deal, which has been eroded since then-president Donald Trump withdrew US support in 2018. EU foreign policy chief Josep Borrell has been trying to bring the US and Iran back into full compliance...
  • Empty shelves as German supermarkets resist price hikes

    With German inflation running at a record 10 percent, supermarket giants are pushing back against what they see as unreasonable price increases by some of the world's best-known brands. Food multinationals argue that their manufacturing costs have risen on the back of soaring energy and transport costs.
  • Iran refutes allegations of providing weapons to Russia

    Iran has rejected allegations that it has supplied Russia with weapons "to be used in the war in Ukraine", its foreign ministry said. Kyiv and many of its Western allies have accused Moscow of using Iranian-made drones in attacks on Ukraine. The topic is expected to be discussed by European...
  • Tunisian coastguard intercept about 200 migrants

    Nearly 200 migrants attempting to reach Europe across the Mediterranean Sea were intercepted by Tunisian coastguards over the weekend. In what is being called "rescues" the authorities launched nine separate operations off the southern and north-eastern coast to bring them to the shore.
  • EU energy head hails “partnership” with Algeria

    Seeking new exporters of gas to the continent, European Union's energy commissioner has hailed a "long-term strategic partnership" with Algeria as it turns to Africa's biggest gas supplier to fill a gap left by Russian supplies. Europe's search for gas has become ever more urgent as winter approaches.
  • Ukraine nuclear plant, Europe’s biggest, reconnected to grid

    The International Atomic Energy Agency (IAEA) said on Saturday that the plant -- Europe's largest nuclear power station -- had lost its last source of external power after renewed shelling and was relying on emergency generators.
  • EU okays new sanctions on Russia post Ukraine annexation

    The latest package -- the eighth since Russia's invasion in February -- is now going through a final approval procedure which, if no objections emerge, will be published and come into effect on Thursday, the Czech Republic's EU ambassador said.
  • EU ‘ready to discuss’ plans to counter rising energy price

    The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs, European Commission chief Ursula von der Leyen said Wednesday. Her comment, to the European Parliament, signaled a shift in tone after powerhouse EU country Germany had expressed worries that a...
  • Energy crisis feared by Europe long a reality in Iraq

    Soaring energy prices fuelled by Russia's war in Ukraine have forced a new reality upon European nations, where people are asked to limit the electricity they use for heating, lighting, and cooking. Some cities keep street lights on for shorter lengths of time, and in Paris, the lights illuminating the...
  • Germany to continue with $198bn energy fund despite EU criticism

    Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it alone in helping citizens face a historic price shock.
  • Morocco court toughens migrants’ sentences over border tragedy

    The Spanish enclaves of Melilla and Ceuta have long been a magnet for people fleeing violence and poverty across Africa and seeking refuge via the continent's only land borders with the EU. Since the June 24 incident, dozens of mostly Sudanese migrants have been sentenced to prison terms ranging from...
  • EU proposes new Russia sanctions including oil price cap

    European Union also plans to expand its travel blacklist and asset freezes to include high-ranking Russian defense officials and organizers of widely derided annexation votes in occupied Ukrainian territories. "Last week, Russia has escalated the invasion of Ukraine to a new level," European Commission President Ursula von der Leyen said....
  • EU sees Nord Stream pipeline leaks as ‘deliberate act’

    Any deliberate disruption of European energy infrastructure is utterly unacceptable and will be met with a robust and united response, the bloc's foreign policy chief Josep Borrell warned in a statement. Borrell called for an investigation into the leaks from the Nord Stream 1 and 2 pipelines, saying: "All available...
  • Ukraine suffered nearly $1 trillion in losses since Russian invasion

    The figure was equivalent to five times Ukraine's annual GDP before the invasion in February, Oleg Ustenko, economic advisor to President Volodymyr Zelensky, said at an event hosted by the German Council on Foreign Relations in Berlin.
  • UN summit returns in divided world

    After two years of pandemic restrictions and video addresses, the UN General Assembly is again asking leaders to come in person if they wish to speak with a sole exception made for Ukrainian President Volodymyr Zelensky. But the death of Queen Elizabeth II disrupted the summit anew. President Joe Biden...
  • Huge fine against Google upheld

    The General Court, however, reduced the fine to $4.1bn.
  • EU court to rule on record antitrust fine against Google

    The decision by the Luxembourg-based General Court could undo or demand modifications to the landmark decision, taken by the European Commission in 2018, which remains the EU's biggest-ever antitrust fine.
  • Six migrants including two babies die at sea after Greek pushback: Turkey

    Another 73 migrants were also rescued off Mugla province in the southwest, the coastguard said. The migrants were pushed back to Turkish waters by Greek forces in four boats, according to the coastguard, who cited a detailed interview with the migrants.