Samsung second quarter profit slumps 53%

Seoul: The world’s biggest smartphone and memory chip maker Samsung Electronics saw net profits slump by more than half in the second quarter, it said Wednesday, in the face of a weakening chip market. Net profits in the three months to June were 5.18 trillion won (Dh16 billion), it said in a statement — down 53 per […]

Adnoc enters deal with Singapore’s sovereign wealth fund

Abu Dhabi: The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has entered into a further follow-on pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. According to a statement, GIC will invest $600 million (Dh2.2 billion) in select Adnoc crude pipeline infrastructure, following BlackRock, KKR and the Abu Dhabi Retirement […]