By Reuters Staff
2 Min Read
JERUSALEM (Reuters) - Israel’s Oil Refineries (ORL) said on Sunday it swung to a profit in the first quarter citing the country’s gradual recovery from the coronavirus pandemic, which had hit refining margins.
ORL, Israel’s largest refining and petrochemicals group, reported a $55 million net profit in the January-March period compared with a $146 million loss a year earlier. Revenue dipped 10% to $1.28 billion.
Its adjusted refining margin was $4.3 a barrel in the first quarter, compared with $1.7 a year earlier and above Reuters’ quoted Mediterranean Ural Cracking Margin of negative $0.2.
CEO Moshe Kaplinsky also commented on the uncertainty regarding plans for developing Haifa, the port city in northern Israel where ORL is based. A government panel has recommended phasing out the petrochemical industry in Haifa’s bay within a decade in favor of other sectors and to improve air quality.
Updated 09 May 2021
May 09, 2021 06:27
DUBAI: Dubai’s long-haul carrier Emirates will begin shipping aid for free into India to help fight a crushing outbreak of the coronavirus, the airline said Sunday.
The offer by Emirates, which has some 95 flights weekly to nine cities, comes as air freight costs have skyrocketed. That’s as air cargo demand has risen to its highest recorded level ever amid the pandemic, which has seen carriers including Emirates fly cargo in otherwise-empty passenger seats.
Emirates made the announcement at Dubai’s International Humanitarian City, already home to a World Health Organization warehouse that’s been crucial to the distribution of medical gear worldwide.
ANKARA: Turkey’s media watchdog has warned online audio streaming giant Spotify to “regulate its content” in line with Turkish legislation or risk critical items being removed or cut. In a surprise move late on Friday, the Radio and Television Supreme Council (RTUK) said that it will consider removing or cutting all content found “inappropriate” a term that is open to
RIYADH: MindMaze Healthcare, a Swiss technology company which specializes in treating brain disorders, is expanding into Saudi Arabia. MindMaze develops digital neurotherapeutics to help repair damage caused by strokes, multiple sclerosis, Parkinson’s, and other neurological conditions.
It has also developed video games, which promote the development of high intensity therapeutic movements which help lead to the restoration of damaged brain functions. The Lausanne-based company has partnered with Saudi company Alkholi Medical. Founded in 1976 by Dr. Hamza Alkholi, it specializes in a variety of healthcare field, from importing medical devices to establishing and operating medical centers.
“MindMaze products have proved to be the best in the market, as validated by the leading US institutions in the field. Thanks to distributors and partners, we can reach more patients faster, so that people with neurological diseases all around the world can benefit firsthand from these proven
DUBAI: Dana Gas, the UAE energy company, reported a 41 percent increase in first quarter profit to $24 million as it boosted production in the Kurdistan region of Iraq (KRI). Overall revenues rose 9 percent to $106 million compared to a year earlier, the company said in a stock exchange filing on Sunday. A reduction in finance costs also helped to boost the Abu Dhabi-listed