Abu Dhabi, 15 January 2025 Al Hilal Bank, a subsidiary of ADCB Group, has appointed Jamal Al Awadhi as its new Chief Executive Officer to spearhead the Bank’s ambitious growth trajectory and reinforce its position as the UAE’s premier Shariah compliant digital bank. Al Awadhi, a seasoned industry leader and UAE national, brings over 20 years of senior leadership experience across diverse sectors, including financial services, media, information technology, and aviation. Before joining Al Hilal Bank as Deputy CEO in May 2024, he had served as Chief Operating Officer at Wio Bank and Chief Executive Officer at Abu Dhabi Media. Ala'a Eraiqat, Chairman of Al Hilal Bank and Group CEO of ADCB, commented: “I am delighted to welcome Jamal to his new role as CEO of Al Hilal Bank at a time when the Bank is taking bold ......read more

Emrill Energy, a leading provider of energy management solutions in the UAE, has signed a landmark Memorandum of Understanding (MoU) with the Institute of Real Estate Management (IREM), a globally recognised association dedicated to advancing the real estate management profession, based in Chicago, USA. The MoU was signed by Stuart Harrison, CEO of Emrill, and Dawn Carpenter, CPM, 2025 President of IREM. The MOU was further endorsed by IREM’s 2025 President-Elect, Mindy Gronbeck, CPM.  The MoU underscores Emrill Energy and IREM's shared commitment to promoting best practices in energy efficiency and sustainability through education, collaboration, and innovative solutions. The collaboration will enable real estate professionals to access cutting-edge training programmes, workshops, and resources designed to drive ......read more

Dubai, U.A.E., 02 January 2025 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), the global aviation services company, today reported its business transactions update for the full year 2024. DAE Capital: Acquired 83 aircraft (owned: 30; managed: 53) Sold 68 aircraft (owned: 19; managed: 49) Signed 233 lease agreements, extensions and amendments (owned: 190; managed: 43) ·                     Placed on long-term lease 17 Boeing 737 MAX aircraft to Turkish Airlines, Eastar Jet, and Hainan ......read more

UAE, 2nd January 2024 : Reiterating its commitment towards making Ayurveda a reliable choice for health and well-being across nations; Dabur International, with its 138 years of rich legacy, joined forces with EAGAFEST 2024. Held at Crown Plaza, Deira the Emirates Ayurvedic Graduates Association (EAGA) celebrated and honoured the ancient science of holistic health and balanced living. As pioneers in revolutionizing Ayurvedic products across an array of essentials like personal care, oral care, hair care, and health supplements; Dabur International plays a pivotal in upholding the principles of Ayurveda. Ayurveda is perceived as one of the most ancient well-documented systems of medicine equally relevant in modern times. Its holistic approach and unique healing processes honor it with an indomitable position as the ‘Science of ......read more

The initiative helps cut customs processing times by more than 50%, streamlining operations and accelerating supply chain efficiency By enabling goods inspection directly at Aramex warehouses, the initiative reduces the need for traditional inspection points at customs centres and associated delays of off-site inspections Dubai, United Arab Emirates; 30 December 2024: Aramex, the leading global provider of comprehensive logistics and transportation solutions, has announced significant operational improvements following the implementation of the innovative Seamless Inspections initiative by Dubai’s Ports, Customs, and Free Zone Corporation (PCFC). The program, which stations customs officers directly at Aramex warehouses, has reduced shipment processing times by more than 50% and achieved time savings of approximately five ......read more

Masdar has acquired Saeta Yield and partnered with Endesa S.A. in Spain UAE's clean energy leader has acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal, for an enterprise value of €1.2 billion Masdar is also partnering with Endesa in Spain in a portfolio of over 2GW of solar assets and aims to add 0.5GW of battery storage, acquiring 49.99% for an enterprise value of €817 million for this stake Landmark deals expand Masdar's portfolio in Iberian Peninsula and Europe, as company targets global capacity of 100GW by 2030 Partnership with Endesa S.A. includes regulated renewable assets and long-term power purchase agreements under which Endesa S.A. through a subsidiary, will acquire 100 ......read more

Phase One of the solar project has been successfully completed and has a production capacity of 569 kWp. Grandweld aims to achieve its ambitious goal of becoming a 100 % green shipyard by the end of next year by meeting 100 % of its energy needs through renewable sources (Solar Energy). Phase Two to generate a total power capacity of 1.3 Mega Watts by next year UAE, December 17, 2024: Grandweld Shipyards, a leading fully integrated shipyard within the maritime and offshore industries, has become the first shipbuilding company in the Middle East to harness solar energy on a large scale to meet its energy requirements. The company currently generates 50 % of its energy needs through renewable sources following the successful completion of Phase One of its ambitious solar panel project, underscoring its commitment to the Dubai ......read more

These Top Industry Trends Provide the Differentiation Needed for Enterprises to Gain the Optimal Benefits from Their I&O Operations in 2025 DUBAI, UAE, December 17, 2024 — Gartner, Inc. highlighted the six trends that will have a significant impact on infrastructure and operations (I&O) for 2025 (see Figure 1). "These trends give the opportunity for I&O leaders to identify future skills requirements and seek insights to help meet implementation requirements," said Jeffrey Hewitt, Vice President Analyst at Gartner. "They will provide the differentiation needed for enterprises to gain the optimal benefits from their I&O operations in 2025." Trend No. 1: Revirtualization/devirtualization The recent license changes for certain vendor-based solutions have forced many I&O teams to ......read more

The Banker Magazine, owned by the Financial Times and based in London, named Arab Bank as Bank of the Year in the Middle East for 2024, for the second consecutive year. The announcement came during The Banker's "Bank of The Year Awards 2024" ceremony held recently in London and attended by several senior representatives from leading banks from all over the world.    The Banker's judging panel's decision to honor Arab Bank with this highly coveted regional award was based on criteria assessing a number of different indicators, including the Bank's financials, strategy and performance, in addition to other specific indicators, a process that takes over 5 months to conduct.   The Banker Magazine, for more than 90 years, has been the world's longest-running international banking ......read more

VinFast is setting a new standard for sustainable innovation in the electric vehicle (EV) industry. By prioritizing long-term environmental impact over short-term gains, VinFast is actively addressing the challenges of battery disposal and reuse, positioning itself as a leader in the circular economy. As the world transitions to EVs, opportunities to enhance sustainability continue to emerge. While EVs are widely recognized as a solution to global warming, the industry is actively addressing areas for improvement, particularly in the lifecycle management of EV batteries. In this evolving landscape, the Nasdaq-listed VinFast is carving out a distinctive role—not just as a carmaker but as a forward-thinking leader dedicated to advancing sustainability. This dedication to sustainability is evident in VinFast’s partnership ......read more

Dubai, UAE - 27 November 2024 - Globally recognised fintech brand EXANTE has opened a new office in the Dubai International Financial Centre (DIFC). By establishing its presence in Dubai, EXANTE is now offering its brokerage solutions to clients in the United Arab Emirates (UAE), providing them with access to over 50 global financial markets and more than a million instruments in a fully customisable trading platform.This move into the Middle East underscores EXANTE's dedication to expanding its global footprint. With this latest expansion, EXANTE now boasts regulation in five jurisdictions, including the FCA in the United Kingdom, the SFC in Hong Kong, the DFSA in the UAE, CySEC in Cyprus, and the MFSA in Malta. This diverse range of regulatory approvals reflects the company’s dedication to providing a secure and ......read more

Last 100 million applications have come in the past 5 years – despite pandemic- driven travel slow-down of 2020-2022 Trusted partner of 69 governments; working with 25 of them for over 15 years VFS Global, the world’s leading outsourcing and technology service specialist for governments and diplomatic missions worldwide, has crossed the 300 million applications milestone. It is notable that the last 100 million applications have been achieved in the past 5 years despite the pandemic-driven travel slow-down of 2020-2022. In 2023 alone, the company processed 24.1 million applications, 35% more than 2022. (Source: ISR 2023), and between January to May 2024, it has processed approximately 100,000 applications a day. Zubin Karkaria, Founder and Chief Executive Officer, VFS Global Group, said, “We are very ......read more

Al Azra, Sharjah, UAE — 25 November 2024 — Steam Engine Publishing today announced the launch of From Grit to Grace: A Unique Personal Leadership Journey. The new memoir from Dr. Sami Handley, a seasoned leadership expert with over two decades of experience across industries, offers a fresh perspective on leadership, personal growth, and organizational transformation. It invites readers to reflect on their own leadership journey and embrace change.   Drawing from a rich career that spans aviation, finance, environmental management, and beyond, Dr. Sami combines personal anecdotes with actionable strategies, creating a leadership book that is as practical as it is profound. From Grit to Grace is not just another business manual—it’s a call to honor the legacy of the leaders who came before us and to ......read more

New customer connections in four countries: UAE, India, Egypt and Oman Company committed to maintaining 'Investment Grade' credit rating Abu Dhabi, United Arab Emirates—15 November 2024: Tabreed, the UAE's leading international district cooling company, has released its consolidated financial results for the first nine months of 2024. Tabreed has experienced a 6% year-on-year rise in consumption volumes during 9M 2024, helping normalised net profit before tax to also increase by 4% to AED 462 million. During the first nine months period, the company delivered consistent growth, maintained resilient profitability margins and further strengthened its financial position. Group revenue increased to AED 1.85 billion in 9M 2024, driven by growth in consumption and 29,000 Refrigeration Tons (RT) of new connections ......read more

e& completes acquisition of controlling stake in PPF Telecom and 100% acquisition of GlassHouse, expanding its footprint to 38 countries Abu Dhabi, 30th October 2024: e& today announced its Q3 2024 consolidated financial results, reporting consolidated revenue of AED 14.4 billion, growing 10 per cent year-over-year in constant currency, while consolidated revenues for the first nine months of year 2024 recorded AED 42.7 billion, growing 9 per cent YoY, reflecting continued growth across most verticals. e& completed an important milestone by closing the transaction of PPF Telecom that will enhance the group portfolio diversification while it continues to grow its digital services across enterprise solutions, fintech, and media and entertainment sectors. This diversification will allow it to pursue its strategic ambition ......read more

The "Go Green with Taiwan" project announces 16 semifinalists from 11 countries. The selected nations include Kenya, Canada, the UK, Luxembourg, Hungary, Ukraine, India, Vietnam, the Philippines, Singapore, and Malaysia. The initiative, which ran from June 19 to August 31, 2024, received 396 proposals from 45 countries. Vietnam, India, the Philippines, Poland, Thailand, Malaysia, the UK, and Indonesia emerged as the top contributors. Organized by the Taiwan International Trade Administration (TITA) and Taiwan External Trade Development Council (TAITRA), this global project encourages individuals, social institutions, and non-governmental organizations to submit ideas for a better world using Taiwanese green products and solutions. This initiative highlights Taiwan's commitment to global sustainability and showcases ......read more

29 October 2024: NBF is pleased to announce its results today for the nine-month period ended 30 September 2024. Highlights: NBF recorded year-on-year growth of 39.3% to close the nine-month period at a net profit before tax of AED 715 million compared to AED 513.2 million in the corresponding period of 2023. Further, NBF posted a net profit after tax of AED 650.4 million for the nine-month period with a corporate tax charge of AED 64.6 million. On the back of a strong Q3 2024 performance, NBF posted a net profit before tax of AED 230.1 million in the third quarter of 2024, a rise of 27.1% over the corresponding quarter of 2023. These results demonstrate the bank’s continued momentum on selective quality business growth and the ability to initially maintain margins in a falling interest rate ......read more

Increased operational activities drives revenue growth: Net Interest Income (NII) increased by 13% year-on-year, propelled by sizable balance sheet expansion and sustained healthy client margins. This growth underscores our effective asset-liability management and strategic focus on core lending activities. In addition, non-interest income surged by 21% compared to the previous year, now comprising 30% of the total operating income. This significant contribution reflects our success in diversifying revenue streams through enhanced fee-based services and other non- interest-generating activities. ·         Continued Strength in Balance Sheet Expansion: Our solid organic expansion carried through the third quarter, highlighted by a 12% year-to-date growth in lending and a 7% ......read more

The Group has registered robust financial performance with operational profit surging to AED 151.78 million, a significant 69% YoY growth. Gross profit more than doubled from the same period last year, soaring by 221%; while total assets rose by 13% compared to December 2023. Growth momentum continues to be shaped by portfolio expansion and successful execution of strategic objectives.   Abu Dhabi, UAE - 28 October 2024: Emirates Stallions Group (ADX: ESG), the leading conglomerate operating across the Workforce Solutions, Construction and Real Estate sectors, and a subsidiary of International Holding Company (ADX: IHC), today announced a leap in operational profit to AED 151.78 million in the first nine months of 2024, achieving a growth of 69% compared to the same period in 2023. ESG’s robust financial ......read more

Ras Al Khaimah, United Arab Emirates, October 21, 2024 – The National Bank of Ras Al Khaimah (RAKBANK) today reported its financial results for the Sep’24 YTD. Key Financial Highlights – Sep’24 YTD RAKBANK delivers record net profit after tax of AED 1.7B, growth of 25% YoY, driven by growth in loan portfolio across all business segments, improved asset quality and tailwinds from higher net interest income. Operating income for YTD Sep’24 is up 8.1% YoY, supported by a net interest margin of 4.6%, on the back of well diversified asset growth, stable and loyal CASA customer base, augmented by higher non-interest income. Operating Expenses remained flat to last year at AED 1.2B for Sep’24 YTD. Cost to income ratio (CIR) at 33.6% compared to 36.2% for Sep’23 YTD as the result of ......read more

Dubai, UAE, 3 October 2024: An investigation by the Dubai Financial Services Authority (DFSA) has revealed that OCS International Finance Limited (OCS) had breached multiple DFSA Rules, including mismanaging USD 46 million (AED 168,820,000) of client funds, and misleading a bank and the DFSA. As a result, the DFSA has imposed a fine, after a 30% settlement discount, of USD 720,905 (AED 2,645,721) on OCS, and USD 186,003 (AED 682,631) on its CEO, Mr Christian Franz Thurner. Alongside the financial penalties, Mr Thurner has been prohibited from holding any executive or employee position in an Authorised Person, Designated Non-Financial Business or Profession, Reporting Entity, or Domestic Fund. He is also restricted from performing any financial service-related functions in or from the Dubai International Financial Centre (DIFC). A ......read more

October 1st, 2024: Bridgestone, a global leader in tyres and sustainable mobility solutions, partnered with Al Jawaden Group, a prominent player in Iraq’s automotive sector, to transform mobility solutions in the Middle East. The partnership was formalized at a signing event at SO/Uptown Dubai, marking a significant step forward in Bridgestone's expansion plans in the Middle East. Through this partnership, Al Jawaden Group's substantial market share in Iraq will be combined with Bridgestone's state-of-the-art tyre technology and mobility services to maximise benefits. Both entities reiterated their commitment to transforming the automotive landscape through innovative and sustainable offerings that improve efficiency and reliability. More importantly, the partnership is perfectly aligned with Bridgestone's E8 ......read more

24 September 2024 – Abu Dhabi, United Arab Emirates: Global Aerospace Summit, a premier forum spearheaded by CEO’s bringing together the world's aerospace supply chain, is set to drive greater sustainability, youth engagement, and innovation across the industry. The Summit, taking place from 25 to 26 September in the UAE capital, has grown in stature and significance to become the premier platform for high-level dialogue and strategic insights for the industry. This long-standing event, currently in its seventh edition, continues to bring together the brightest minds and cutting-edge solutions in the aerospace, space and defence sectors consistently attracting government officials, industry CEOs, and leading academics dedicated to advancing the sectors around the world. Sponsors and participants at ......read more

Dubai, UAE – Avyanco, a leading business set-up and tax consultancy firm in the UAE, continues to solidify its presence as a trusted partner for entrepreneurs and businesses navigating the region’s competitive market. Under the leadership of Mr. Jashvantkumar Prajapati, who brings over 20 years of industry expertise, Avyanco has successfully assisted over 10,000 clients with tailored business and financial solutions. Known for its client-centric approach, Avyanco stands out in the UAE’s dynamic landscape by delivering customized strategic guidance that helps businesses overcome the complexities of regulations, taxation, and compliance. Mr. Jashvantkumar Prajapati emphasizes the importance of education in fostering success in today’s fast-paced business environment. “Our primary focus is on educating ......read more

Based in the UAE, the Toastmasters District 127 runs 155 clubs across Dubai, the Northern Emirates, and Lebanon. Dubai-based entrepreneur, academician and veteran Toastmaster Sujit Sukumaran has been elected to global board of the Toastmasters International. DUBAI – September 18, 2024: Toastmasters International, the world’s largest non-for-profit organization for public speaking and leadership development, has recently announced that its UAE-based District 127, which represents Dubai, the Northern Emirates, and Lebanon, as the No. 1 district globally. The announcement has been made during Toastmasters International’s 100th-anniversary convention, recently held in California.  Adding to the district's accolades, Dubai-based entrepreneur and academician Toastmaster DTM Sujit Sukumaran has been ......read more

Dubai, UAE (September 17, 2024): Grandiose Supermarkets, a leading retailer of premium food and groceries, has long been a one-stop shop for all pet essentials. In celebration of International Dog Day, they launched a major on-ground campaign to showcase their extensive pet product range. From gourmet food and delectable treats to innovative toys and accessories, Grandiose offers everything to pamper your furry companions. As part of this exciting campaign, Grandiose proudly presents "ONLY A DOGGIE NOSE." A series of out-of-home posters with an unusual creative twist. The posters were coated with the aroma of most-loved doggie delights. It made the posters unmissable for doggies, leading dog owners to discover an embedded QR code on the posters that lead them to our Grandiose App for special discounts on doggie ......read more

Abu Dhabi, U.A.E. - September 16, 2024: Hitachi Energy presents its solutions for a sustainable, flexible and secure energy system at the World Utilities Congress (WUC) 2024 to be held at the Abu Dhabi National Exhibition Centre (ADNEC) from September 16-18. The event gathers energy leaders, policymakers, innovators, and professionals from the power and water utilities value chain to discuss and address the trends and challenges shaping the industry. At the event, Hitachi Energy showcases its industry-leading technologies and innovations on enhancing power system flexibility, advancing digitalization, and accelerating the global energy transition. Power system flexibility is critical for integrating renewable energy sources like solar and wind, ensuring grid stability, and reducing carbon emissions. As the energy landscape evolves, ......read more

Monday, September 16, 2024 – Dubai, UAE: Al Fujairah National Insurance Co. (AFNIC) announces the launch of “FloodGuard,” the region’s first insurance product exclusively covering accidental loss or damage from Flood, Inundation, Storm, and Tempest for third-party insured motorists. FloodGuard offers crucial coverage for personal or company-owned vehicles used exclusively for personal or leisure purposes, especially those over 7 years old that often do not qualify for comprehensive insurance. “In response to the recent heavy rains in the UAE, AFNIC’s innovative solution provides much-needed relief to private car owners. We are proud to spearhead this groundbreaking insurance product in the UAE,” says AFNIC CEO Antoine Maalouli. “Our commitment is to address our clients’ ......read more

H.E. Bin Touq: Under the guidance of its wise leadership, the UAE consistently takes proactive measures to strengthen corporate social responsibility practices The initiative highlights the key role of the National CSR Fund in channelling private sector contributions toward national development initiatives The meeting highlighted the accomplishments and future initiatives, which are aimed at fostering strategic partnerships and promoting sustainable practices in the UAE Dubai, 12 September 2024: National CSR Fund – Majra held its fourth meeting of the Board of Trustees for 2024-2026 term. The Board of Trustees play a key role in establishing the regulatory framework for corporate social responsibility and sustainable impact in the UAE. The meeting was chaired by H.E. Abdulla Bin Touq Al Marri, Minister of Economy and ......read more

Ongoing support from Kia has enabled the removal of over one million pounds of plastic from the Great Pacific Garbage Patch (GPGP) Partnership with The Ocean Cleanup aligns with Kia’s strategic transformation into a sustainable mobility solutions provider Dubai, United Arab Emirates, September 11, 2024 — Kia Corporation and global partner The Ocean Cleanup are today celebrating a significant milestone in their joint strategy to tackle plastic pollution in the world’s oceans. Symbolically returning to the port of San Francisco from which the first-generation System 001 vessel embarked on its maiden voyage six years ago, The Ocean Cleanup's current System 03 has completed a significant haul. Since the establishment of the partnership in 2022, Kia’s support has helped The Ocean Cleanup remove over ......read more

10 September 2024: Following a visit by Al-Futtaim Group to Hangzhou No. 2 Middle School in April this year, Al Futtaim Education Foundation (AFEF) welcomed a delegation from Zhejiang Provincial Government in China and signed a Memorandum of Understanding (MoU) to promote international academic cooperation. The meeting was aimed at fostering robust ties between AFEF and the Zhejiang Provincial Department of Education, while exploring possible avenues of collaboration in the educational sector. Dignitaries welcoming the delegation included Mr Omar Abdullah Al Futtaim, Vice Chairman and CEO of Al Futtaim Group, and Chairman of Al Futtaim Education Foundation; Mrs Mira Omar Al Futtaim, Chief Future of Education Officer and Board Member of Al Futtaim Education Foundation;; Fadi Hammadeh, AFEF Board Member, Chairman DIS and UAS Board; Dr. ......read more

09 September 2024: World Travel Market London has today announced that this year's event will be the largest to date, with an expected 7% growth and expansion into new halls at ExCeL London, reflecting the thriving international tourism sector. Taking place from 5 – 7 November, World Travel Market expects to showcase around 4,000 exhibitors including tourism boards, hoteliers, transport brands, technology services and world-class experiences. So far, it's reported that there will be over 80 new exhibitors lined up at the global gathering. There has been significant growth amongst the destination market, with a 9% increase in destination participation. Over 135 National Tourism Organisations will be in attendance, with a huge volume of regions and cities joining them. Africa is the fastest growing region of the event, ......read more

Dubai, UAE – 05 September 2024: Ducab Metals Business (DMB), a subsidiary of Ducab Group, announced today the doubling of its annual production capacity for aluminium from 55,000tpa to 110,000tpa and increased its bare copper product capacity in response to surging global demand for these UAE-manufactured products. This expansion strengthens DMB’s position in the international metals market and advances the UAE's Operation 300bn industrial strategy, promoting economic diversification and solidifying the country’s leadership in high-quality, innovative industrial manufacturing. The announcement was made at the 'Ducab Metals Business Expansion Forum: Advancing Capacity, Driving Innovation,' held in partnership with Middle East Economic Digest (MEED). The event gathered leading figures from industry, ......read more

Dubai, UAE, [4.9.2024.] — Zuari Infraworld SJM Properties, LLC today led the topping off ceremony for The St. Regis Residences, Financial Center Road, Dubai, marking a significant milestone in the development of this prestigious luxury project. The event, held at the construction site, celebrated the completion of the building's structural framework, bringing the project one step closer to its highly anticipated completion in 2025. This milestone follows a remarkable sales achievement, with 70 percent of the ultra-luxury units at The St. Regis Residences being sold out within the first hour of their launch, resulting in sales valued at over AED 1 billion. This overwhelming demand underscores the project’s appeal to modern, affluent customers seeking unmatched luxury and exclusivity in the heart of Downtown ......read more

Acquisition expands TAQA’s portfolio, further strengthening its capabilities to deliver high-quality water treatment solutions Integration of SWS Holding adds significant asset value and further enhances TAQA’s predictable cashflow profile and earnings 04 September 2024, Abu Dhabi, UAE: Abu Dhabi National Energy Company PJSC (“TAQA”), one of the largest listed integrated utilities in Europe, Middle East and Africa, today announced the completion of its agreement to acquire Sustainable Water Solutions Holding Company (“SWS Holding”). TAQA has finalised the acquisition of all outstanding shares of SWS Holding for AED 1.7 billion. SWS Holding owns Abu Dhabi Sustainable Water Solutions Company (“ADSWS”), which was established in 2005, and is the sole entity responsible for wastewater ......read more

Abdullah Al Zarooni: We are committed to providing full support to developers by offering the necessary guidance to ensure adherence to best practices in the sector. Dubai, United Arab Emirates, 03 September 2024: As part of its ongoing efforts to enhance transparency and fairness in the real estate market, the Legal Support Section at Dubai Land Department has organised a focused workshop for real estate developers. The workshop aimed to strengthen collaboration and partnerships, exchange knowledge on best practices in the real estate sector, and provide a safe and transparent investment environment for both developers and buyers. The session highlighted the provision of comprehensive information regarding the rights and obligations of the parties involved in real estate sales contracts, with a clear explanation of the legal ......read more

  Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium: "EGA continues to deliver competitive financial performance throughout the economic cycle, through our focus on operational excellence, controlling our costs, and our long-term commercial relationships with our global customers. "The first half of 2024 saw our acquisition of Leichtmetall and progress in the development of our recycling plant in the UAE, important first steps in our strategy to grow EGA to meet expanding global demand for low carbon primary and recycled aluminium over the decades ahead. I look forward to further steps before the end of the year." Financial highlights of H1 2024 Adjusted EBITDA of AED 4.20 billion ($1.14 billion), compared to AED 4.15 billion ($1.13 billion) in H1 2023. Net profit of AED ......read more

Nimai, a leading corporate finance and transaction advisory firm, has successfully facilitated a complex transaction between the International Finance Corporation (IFC) and Kadat Food and Beverages (SL) Limited. This deal secures a loan for the Sierra Leonean soft drinks and fruit juices producer, enabling the company to boost productive capacity, create employment opportunities, and strengthen local agriculture value chains by sourcing more from local farmers. The loan is financed by IFC along with the Private Sector Window of GAFSP, the Global Agriculture Food and Security Program. Kadat Food and Beverages, which operates Sierra Leone's largest automated beverage plant, will use the financing to increase fruit sourcing from local farmers. The expansion is expected to create numerous jobs throughout the agriculture value chain, ......read more

Key Highlights for H1 2024 Total property income posted year-on-year growth of 12% to USD 40m in H1 2024, driven by: - Higher occupancy (90.5%) - Higher lease rates (+10%) Property operating expenses declined 3% year-on-year Operating profit increased by 19% year-on-year to reach USD 25m, up from USD 21m in H1 2023 Rising Sukuk costs continued to negatively impact the REIT’s performance Funds From Operations (“FFO”) improved whilst remaining negative at USD 1.5m for H1 2024 (H1 2023: negative USD 3.6m) NAV per share grew by 34% year-on-year to USD 1.76, which is an all-time high Finance To Value decreased year-on-year 6 p.p. to 40%, its lowest level since 2016 Value of Investment Properties increased by 18% year-on-year, with total assets reaching USD 1.1bn Thierry Delvaux - ......read more

Key Highlights: Achieved net profit of AED 1.6 billion while assets grew by 2% year-on-year. Reported 6% decline in revenue to AED 16.7 billion and 2% decline in EBITDA to AED 2.1 billion in H1 2024, affected by ongoing regional geopolitical conflicts and FX devaluations. At constant currency rates, Group revenue declined by 3%, EBITDA increased by 1% and net profit increased by 1%. Majid Al Futtaim – Properties recorded 9% year-on-year increase in revenue to AED 3.7 billion and 11% growth in EBITDA. Launched its second residential project in Dubai, Ghaf Woods, which sold out its first phase within one week. Majid Al Futtaim – Retail registered an 11% drop in year-on-year revenue to AED 11.6 billion while its Retail Digital business delivered strong growth with revenue increasing by 16% and EBITDA growing 109% ......read more

KSA’s rapidly transforming logistics landscape is projected to achieve a valuation of USD 15.31 billion and have 59 new logistics zones by 2030. Savoye as a One-Stop-Shop producer and integrator for automation and software, will address key market bottlenecks to enhance the efficiency and productivity of warehousing operations 27 August 2024: Savoye, a leading global warehouse automation integrator and software publisher, will showcase its comprehensive suite of advanced solutions at the first edition of the Saudi Warehousing & Logistics Expo, Riyadh from September 2 to 4, 2024. The event is poised to drive the adoption of advanced technologies within the Kingdom of Saudi Arabia’s (KSA) supply chain and logistics sector. Prominent industry leaders and innovators will convene at the event, spearheading crucial ......read more

Partnership signifies powerful collaboration driving digital transformation and empowering societies, delivering industry-leading telecom solutions to enhance lives and advance societies in the UAE. Dubai, UAE 21 August 2024: du, from Emirates Integrated Telecommunications Company (EITC), and etisalat by e&, today announced a strategic collaboration with Nakheel, a member of Dubai Holding, to provide fixed telecom services and enhance the ICT infrastructure in new developments. As part of the Taawun infrastructure deployment initiative, the agreement will cover the provision of essential telecommunications infrastructure in Nakheel’s major projects. Fahad Al Hassawi, CEO of du said: “We look forward to delivering state-of-the-art telecom services for Nakheel's projects. This agreement solidifies our commitment ......read more

Dubai, UAE, 20 August 2024: The Dubai Financial Services Authority (DFSA) has imposed a fine of USD 980,020 (AED 3,599,613), after settlement discount, on Mr Peter Georgiou, for misleading and deceptive conduct and for being knowingly involved in breaches of DFSA rules by his former employer Mirabaud (Middle East) Limited (MMEL). Mr Georgiou was employed by MMEL as a private banker. In addition to the financial penalty, the DFSA has prohibited Mr Georgiou from holding office or being an employee of a DFSA Authorised Firm. He is also restricted from performing any function in connection with the provision of financial services in or from the Dubai International Financial Centre (DIFC). The DFSA determined that Mr Georgiou lacked integrity and is not fit and proper to be involved in the provision of financial services in or from the ......read more

Record quarterly GAAP and Non-GAAP operating margins Raises 2024 revenue and Non-GAAP operating margin guidance Continuing to invest in the fast-growing Unified SASE and Security Operations markets Second Quarter 2024 Highlights Total revenue of $1.43 billion, up 11% year over year Service revenue of $982 million, up 20% year over year Record GAAP operating margin of 30.5% Record Non-GAAP operating margin of 35.1%1 Cash flow from operations of $342 million Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, has announced financial results for the second quarter ended June 30, 2024. "In the second quarter, we successfully balanced growth and profitability as our non-GAAP operating margin increased 820 basis points year-over-year to a company ......read more

The growing Free Zone for the future of business is home to 2,735 tenants, up from 2,259 in H1 2023 DWTCA's half year 2024 figures reach 2,818 registered companies, up from 2,366 in H1 2023 Direct jobs in the Free Zone stand at 8,223, up 5% on the same period last year. Dubai, UAE, 19 August 2024: Dubai World Trade Centre Authority (DWTCA) Free Zone, Dubai's pioneering business ecosystem, today published results from the first half of the year, revealing a sharp uptick in the number of companies choosing DWTCA as the destination for their Dubai business, and marking an increase in the number of direct jobs created within the Free Zone. The number of tenants in DWTCA Free Zone recorded significant year-on-year growth, up 21% to 2,735 tenants at the end of the first half of 2024, from 2,259 in H1 2023. The number of ......read more

Customers of TCS in the middle east will have access to a combination of TÜV SÜD’s expertise and TCS’ digital solutions for achieving decarbonization goals DUBAI, 16 August, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, announced a strategic collaboration with TÜV SÜD Middle East, a leading provider of testing, inspection, certification and training services. Through this collaboration TCS will accelerate the carbon management and sustainability journeys of its customers in the Middle East with tailored solutions for ESG (Environmental, Social, and Governance). These tailored solutions will be available to enterprises on the TCS Zero Carbon Platform, a proprietary digital solution that helps organizations manage and ......read more

Net income of AED 4.4 billion for H1 2024, a 12.3% increase on prior year, excluding one-off items Revenue up 2% on same period last year to AED 27.2 billion. Adjusted EBITDA 4% up on same period last year to AED 10.9 billion Abu Dhabi, UAE – 14 August 2024: Abu Dhabi National Energy Company PJSC (“TAQA” or “the Group”), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, reported its earnings for the period ending 30 June 2024. TAQA delivered solid financial results, supported by stable returns from its Transmission & Distribution business and further strengthened by the contribution from Sustainable Water Solutions Holding Company PJSC (SWS Holding). Financial highlights Group revenues were AED 27.2 billion, 2.0% ......read more

Group reports net profit of AED 27.17 million; Assets surge 17% to AED 351 million Abu Dhabi, United Arab Emirates, August 13, 2024: Response Plus Holding PJSC (ADX: RPM), the largest pre-hospital care and emergency medical services provider in the UAE and KSA, has released its interim half-year results for the period ending on June 30th, 2024. The group’s revenue surged to AED 209.88 million in the first half of 2024, compared to AED 168.77 million in H1 2023, registering a 24% year-on-year growth. Over the first six months of 2024, RPM’s net profit was AED 27.17 million after tax. The Earning Per Share (EPS) in the first half of 2024 increased to 0.14, compared to 0.13 in the first six months of 2023. Total assets of RPM rose to AED 351 million from AED 298.18 million as on December 31st, 2023. Total equity as ......read more

 Rising year-on-year consumption volumes driving increased profits and improved EBITDA Company strengthens financial position through prudent capital allocation, including repurchasing of Sukuk and increasing cash dividends  Appointment of Dr. Bakheet Al Katheeri as Chairman, along with new Board member Mansoor Mohamed Al Hamed Abu Dhabi, United Arab Emirates – 9 August 2024: Tabreed, the UAE’s leading international district cooling company, has released its consolidated financial results for the first six months of 2024 and announced changes to its Board of Directors. The results demonstrate exceptional financial health driven by business growth, sustained profitability margins and a commitment to sound financial discipline. Tabreed experienced an 8% year-on-year surge ......read more

Dubai, UAE: Union Coop has announced its financial results for the first half of 2024, demonstrating a 5% increase in semi-annual revenues compared to the previous year. The cooperative achieved a 32.3% growth in net profits and expanded profit margins across its various sectors. The cooperative’s Board of Directors has released the semi-annual results following strong performance in both business operations and sales. For the first half of 2024, Union Coop reported profits of AED 200 million, reflecting a 32.3% increase compared to the same period last year. This growth is attributed to strategic initiatives that enhanced profitability and revenue. Operationally, Union Coop saw a significant increase in its customer base, with 612,000 downloads of its mobile app by mid-year. The loyalty program now has 990,079 ......read more