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Ukraine war

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.
  • G7 vows more Russia sanctions after virtual talks on Ukraine

    In a statement after the meeting, which Ukrainian President Volodymyr Zelensky also attended, the leaders vowed to "raise the cost" of Russia's war on Ukraine. The G7 leaders didn't make any public statement about further military aid to Ukraine, but urged "the approval of additional support to close Ukraine's remaining...
  • Ukraine to call for Russia’s removal from UN Security Council

    Kuleba said the question of Russia's veto-wielding permanent seat in the UN Security Council -- also held by the United States, Britain, France and China -- was already being discussed around diplomacy circles.
  • Turkey says Ukraine war ‘will not end easily’

    Turkey, which helped broker a deal with the United Nations for the export of Ukrainian grain through the Black Sea this summer, is seeking to bring together Russian and Ukrainian leaders for negotiations to end the war. It already hosted a meeting between the Russian and Ukrainian foreign ministers in...
  • Ukraine war providing lessons for future conflicts

    How the war in Ukraine has played out -- both on the world stage and the battlefield -- serves as a cautionary tale on the potential dangers of launching such an invasion, and offers other lessons as well. General Mark Milley, the top US military officer, said the war was...
  • EU leaders meeting in Brussels to focus on trade dispute with US

    The EU summit was to also examine the situation, and consequences in Europe, of Russia's war in Ukraine, which European Council President Charles Michel said was at "the heart of our concerns".
  • Russia oil embargo, price cap disrupts tankers

    Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships are reportedly using non-Western insurers and selling oil at higher prices to countries that have not subscribed to the new sanctions.
  • Nuclear tensions ‘rising’ but Moscow won’t deploy first: Putin

    Russian forces have missed most of their key military goals since February, raising fears that the battlefield stalemate could see Russia resort to its nuclear arsenal to achieve a breakthrough.
  • World economy faces more pain in 2023 after a gloomy year

    Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency S&P Global foresees stagnation for the eurozone in 2023. The coronavirus pandemic, meanwhile, remains a wildcard for the global economy.
  • UN nuclear chief denounces strikes on Ukraine power plant

    There were more than a dozen blasts overnight Saturday to Sunday, some of which a team of experts from the agency on site had themselves seen, the IAEA said in a statement.
  • Ukraine grain deal extended ‘under current terms’: Turkey

    Ukraine is one of the world's top grain producers, and Russia's invasion of the country blocked 20 million tons of grain in its ports before the United Nations and Turkey brokered the deal in July. On Wednesday, Turkish President Recep Tayyip Erdogan said at a press conference at the G20...
  • 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.
  • Sweden seeks Turkish approval for its NATO membership

    Despite the change in stance in Stockholm, some analysts believe Turkey's presidential and parliamentary elections in June 2023 could delay the Nordic NATO bids.
  • 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...
  • Six displaced Syrians killed in regime rocket strike: monitor

    According to the Observatory, the rocket fire came the day after five Syrian forces members died in shelling by a group affiliated with HTS.
  • Biden threatens tax hit for ‘war profiteering’ oil giants

    His comments came days after oil giants ExxonMobil and Chevron reported bumper earnings, reflecting how a surge in crude prices after Russia's invasion of Ukraine has boosted the industry. Natural gas costs have also risen, due to Europe's mobilization to offset lost imports from Russia.
  • Google’s money churning ad engine sputters in rough economy

    Worsening the financial situation for Alphabet is the fact that Google tends not to aggressively promote advertising on its platform with tactics such as trying to convince businesses that online marketing is a smart move during tough economic times, said independent tech analyst Rob Enderle of Enderle Group.
  • 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.
  • 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...
  • Biden to release 15m barrels from US oil reserves: official

    The decision to make the biggest-ever dip into the emergency oil reserves -- usually kept for responding to situations such as hurricane-related shutdowns at oil refineries -- was Biden's gambit to calm energy markets and shield the world's biggest economy from Ukraine war shocks.
  • US warns of sanctions over Iran drone ties after Kyiv strikes

    State Department spokesman Vedant Patel told reporters that Russia deepening an alliance with Iran is something the whole world, especially those in the region and across the world, frankly should be seeing as a profound threat. Ukrainian officials said that the strikes killed four people in Kyiv and knocked out...
  • Biden has ‘no plans’ to meet Saudi Crown Prince at G20 summit: US

    Stormy US-Saudi relations have seen new strain over Riyadh's recent support for oil production cuts, with Biden warning of unspecified "consequences." The move last week by OPEC+ -- composed of the Riyadh-led OPEC cartel and a group of 10 exporters headed by Russia -- would reduce global output by up...
  • Video highlights: Futuristic TOP CEO 2022 discusses economic opportunities

    The TOP CEO Conference, held in Dubai in Q2, discussed several burning global and regional issues of the time. It may help policymakers devise better strategies.
  • Biden to ‘re-evaluate’ Saudi ties after OPEC snub

    The 13-nation OPEC cartel and its 10 allies headed by Moscow angered the White House last week with its decision to cut production by two million barrels a day from November, raising fears that oil prices could soar.
  • 54 poor nations urgently need debt relief: UN

    The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers in Washington, highlighted the need for swift action. But UNDP chief Achim Steiner told reporters in Geneva that despite repeated warnings, "little has happened so far, and the risks have...
  • Turkey says Erdogan to meet Putin in Astana on Wednesday

    Erdogan still hopes to bring Putin and Ukrainian President Volodymyr Zelensky together for truce talks that neither side particularly wants but which Turkish officials insist are both essential and realistic.
  • 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.
  • War and energy crisis push US LNG industry to expand

    US suppliers have exported 1,574 billion cubic feet (44.6 billion cubic meters) of LNG to Europe so far in 2022, a sharp rise from the 917 billion cubic feet (26 billion cubic meters) in 2020, according to the Center for Liquefied Natural Gas, a Washington-based trade group that represents the...
  • Samsung expects 31.7 percent decline in Q3 profit

    The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall 31.7 percent as a global economic downturn hit demand for consumer electronic. The latest forecast is the company's first projection of a year-on-year decline in profit for nearly three years.
  • Climate change made 2022 drought ‘at least 20 times likelier’

    Producers in Europe and China have warned of significantly lower than expected harvests in crop staples due to the dry spell, after food prices spiked to multi-year highs following Russia's invasion of Ukraine in February. Friederike Otto, senior lecturer in climate science at the Imperial College London, called the crop...
  • 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...
  • Apple App Store pulls Russian social network VKontakte

    The British government on Monday sanctioned 92 Russian individuals and entities after President Vladimir Putin's regime held referendums in Moscow-controlled areas of Ukraine -- denounced by Kyiv and its allies as a "sham" -- and stepped up threats against the West. "Sham referendums held at the barrel of a gun...
  • H&M posts big quarterly drop in profit after Russia exit

    The world's number two clothing group is among a slew of Western companies that have exited Russia following Moscow's invasion of Ukraine. H&M paused all sales in the country in March and announced in July that it would wind down operations, although it would reopen stores for "a limited period...
  • Fourth leak detected at Nord Stream pipelines in Baltic Sea

    A Swedish Coast Guard official said that there are two leaks on the Swedish side and two leaks on the Danish side. The official added that the two leaks on the Swedish side are "close to each other". The Swedish coast guard could not immediately say why the latest leak...
  • 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....
  • Last three Turkish banks to drop Russia’s Mir bank cards

    The decision follows weeks of intensifying pressure from Washington for NATO member Turkey to limit its booming economic relations with Russia. The US Treasury warned last week that Turkish banks working with the Russian cards "risk supporting Russia's efforts to evade US sanctions" and could be sanctioned themselves.
  • As Ukraine war grinds on, Saudi influence grows

    Saudi Arabia's unexpected role in brokering the release of foreign fighters detained in Ukraine was just the latest example of how the kingdom is seeking to bolster its international standing, diplomats and analysts say.  It also enables Riyadh to argue that preserving ties with Moscow -– a source of tension...
  • German bakeries struggle to survive as costs spiral

    Germany's center-left government has announced relief measures worth almost 100 billion euros to tackle inflation, but small businesses have so far been largely excluded from the help.
  • Truss at UN vows UK military aid ‘until Ukraine prevails’

    Truss became the latest Western leader at the UN General Assembly in New York to rail against Russian President Vladimir Putin, who hours earlier mobilized reservists in a clear sign he is in no rush to end the conflict. Putin's move only highlights the "catastrophic failure" of Russia's invasion of...
  • 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...
  • IAEA says Ukraine nuclear plant reconnected to national grid

    Days after it was cut off from external power, raising the risk of an accident, Ukraine's nuclear plant is receiving power from the national grid once again. The Russian-occupied plant had been cut from the grid since September due to shelling. The IAEA said the plant now has the electricity...
  • Tunisia government reaches pay deal with key union

    The deal involves a five percent annual hike to public sector wages every year until 2025. The head of the UGTT, Noureddine Taboubi, told reporters after the deal was signed that the first hike would take effect next month. "The agreement was reached after much hard work," Taboubi said.
  • EU ministers seek ways to face energy shock

    Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with all eyes on whether Russian President Vladimir Putin will cut off the energy flow entirely. Before the war, 40 percent of the EU's gas imports came from Russia, with most...
  • Russia will stop oil, gas export to countries seeking price cap: Putin

    Pointing to rising energy prices in Europe ahead of winter, Putin insisted Russia would supply nothing outside of existing contracts, quoting a Russian fairy tale: "Freeze, freeze, the wolf tail". Capping prices, as some Western countries are considering, "would be an absolutely stupid decision," Putin said.
  • Erdogan blames Europe’s energy crisis on Russia sanctions

    Erdogan told reporters before departing for a three-nation swing through the Balkans that European nations were "harvesting what they sowed" by imposing economic restrictions on Russia.
  • Algeria a ‘reliable’ gas supplier: EU chief Michel

    European officials have been looking to Algeria, Africa's biggest gas exporter, to fill a shortfall in supplies after Russia's invasion of Ukraine in February sent prices soaring. The situation has taken on added urgency in recent days after Russia halted gas deliveries to Germany via the key Nord Stream pipeline...
  • In risky recyling venture, Gazans burn plastic for fuel

    It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious environmental and health risks, experts say. Standing before rusty metal machinery and fuel containers, Mahmoud al-Kafarneh described how he and his brothers came up with their plastic recycling project.
  • UN says Chad floods displace 340,000 people in two months

    Some 5.5 million Chadians around a third of the landlocked central African country's population needed "urgent humanitarian assistance" last year, according to the United Nations.
  • Macron warns ‘sacrifices’ ahead after ‘end of abundance’

    After a summer marked by drought, massive wildfires and continuing loss of life in Ukraine, the 44-year-old leader delivered a stark speech at the start of the first cabinet meeting after the country's traditional August holiday break. Macron said that he believed that they are in the process of living...
  • OPEC+ has ‘means’ to deal with oil volatility: Saudi Arabia

    Prince Abdulaziz bin Salman said in an interview with Bloomberg that OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms to deal with such challenges, including cutting production at any time. He said that the volatility and thin liquidity send erroneous signals to markets at times...
  • After six months of war, what’s next for Ukraine?

    Russian President Vladimir Putin announces on February 24, 2022 a "special military operation" to protect the Russian-speaking self-declared separatist republics of Lugansk and Donetsk in the east, whose independence he has just recognized. He says he wants to "de-Nazify" Ukraine, a former Soviet state, and demands a guarantee it will...
  • Erdogan warns of ‘another Chernobyl’ after talks in Ukraine

    A flare-up in fighting around Europe's largest nuclear facility in Russian-controlled southern Ukraine has sparked urgent warnings from world leaders, and UN chief Antonio Guterres cautioned during talks with Erdogan that any damage to the plant would be akin to "suicide". "We are worried. We don't want another Chernobyl," Erdogan...