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

In recent years, ITBFX forex broker has gained a lot of popularity among traders and introducing brokers (IBs). Now, as the 7th edition of the Forex Expo Dubai approaches, more traders are looking to familiarize themselves with the broker, hoping to benefit from their services in this grand event. In a nutshell, they want to know: What is ITBFX broker? Is ITBFX a reliable forex broker? What services does ITBFX provide? What account types does ITBFX offer? How can I make money on ITBFX broker? If you, too, would like to know the answer to these questions, then this comprehensive review is for you. Keep on reading to learn everything you need to know about ITBFX broker in 2024.  So, What Is ITBFX Broker’s Deal? The International Trading Brachium (ITBFX) broker offers ......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

In an industry traditionally dominated by men, Dr. Bina Modi, Chairperson and Managing Director of Godfrey Phillips India Limited, has not only carved out her own space but has also reshaped the contours of leadership in the tobacco sector, underscoring how women can rise to the top through determination, acumen, and relentless hard work. Dr. Bina Modi: A Visionary Leader Bina Modi’s journey is a remarkable one, defying the odds in a world that wasn’t always ready to accept a woman’s authority in business, especially in tobacco. Though she inherited a legacy as the wife of the late KK Modi, the founder of the Modi Group, her path to success was anything but straightforward. Initially, even her biggest supporter, KK Modi, was unsure about her potential to thrive as an entrepreneur. Despite being the daughter-in-law ......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

US$2.5 billion Middle East Industrial Valves Market on upswing to touch nearly US$5 billion  Dubai, September 11, 2024:   The Middle East industrial valve market is set to touch nearly US$5 billion in the next five to seven years from the current US$2.5 billion, on the back of the rapid infrastructure development across the region, growing at a CAGR of more than 6 per cent. Showcasing the upcoming global expo, Valve World Expo 2024, a Messe Duesseldorf spokesperson said the Middle East was one of the largest markets for industrial valves in the world.  Messe Duesseldorf is the organiser of the show, the largest globally for industrial valves. “Despite the geopolitical instabilities of the larger region, with the huge infrastructure developments across the Middle East, particularly in the GCC, the demand ......read more

Crosses $130 million in first close within four months of launch Founded by seasoned business leader and investor, Vikas Choudhury, who has backed multiple companies to become unicorns - from India’s first ever (inMobi in 2011) to its latest one (Rapido in 2024). An operator-driven fund with the senior leadership team having unparalleled experience in building and scaling some of the largest businesses (Jio, McKinsey, Asian Paints and others). Playbook will partner with tech enabled businesses targeting large market opportunities that have demonstrated positive unit economics, digital scalability, and sustainable growth. September 11, 2024, Abu Dhabi: India based growth capital firm Playbook Partners announced first close having raised over $130 million through established global investors from Middle East, Europe, ......read more

In the last decade, Dubai has quickly and efficiently established itself as a serious contender to other forex trading centres of the world. Originally a city famous for its oil and wealthy apartments, it’s now a global financial centre, attracting traders and investors.  Forex trading in Dubai is known first for the successful symbiosis of high-tech, stringent legislative backing, and the growing pool of genuinely talented participants.  Thus, the prospects of this market will be determined by other trends that appear as it develops, reflecting its future challenges and opportunities. Emerging Trends Shaping Forex Trading in Dubai Several trends are currently influencing forex trading in Dubai and worldwide, the most important of which is applying new technology. Automation, artificial intelligence, AI, ......read more

Binary options trading has become increasingly popular in the UAE, offering an accessible way for investors to engage in the financial markets. However, with the growing interest comes a need to understand the intricacies and regulatory landscape surrounding this form of trading in 2024. This guide provides an overview of what you need to know about binary options in the UAE, including key regulations, market trends, and trading strategies. What Is Binary Options? Binary options are a type of financial derivative that allows traders to speculate on the price movement of various assets, such as stocks, commodities, currencies, and indices. The name "binary" comes from the two possible outcomes: the trade either results in a fixed profit or a loss, depending on whether the prediction is correct. Traders typically choose ......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

Choosing the right financial broker is crucial to your success as an investor. Whether you're new to the world of investing or an experienced trader, the broker you select can significantly impact your financial outcomes. With countless brokers offering various services, fees, and platforms, making the right choice can feel overwhelming. This guide will help you navigate the selection process by focusing on the most important factors to consider when choosing a financial broker. 1. Regulation and Trustworthiness The first and most important criterion is to ensure that the broker is properly regulated. A regulated broker adheres to the financial laws and regulations set by authorities, which protects your investments. Check if the broker is registered with recognized regulatory bodies such as: The U.S. Securities and ......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

The 2024/25 AFC Champions League season will mark a new era for Asian club football, with the tournament set to introduce a new format. The top level of the revised three-tier set-up is the AFC Champions League Elite, featuring 24 clubs divided across the East and West regions. Read on as we explore what these changes entail and the implications for football in the region from a business perspective. UAE Clubs Eager to Impress This Season Reigning champions Al-Ain defeated Japanese heavyweights Yokohama F Marinos in the final last season to take the trophy back to the United Arab Emirates. They are one of the favourites to win it again and carry the hopes of the UAE this term. They will be joined by Al-Wasl, who won the UAE Pro League title for the eighth time last season. Al-Wasl lost only one league game on their ......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

Easy to Use Trading Platform Interface The user interface plays a critical role in choosing a trading platform. Understanding how a platform works can significantly improve trading efficiency and reduce potential risks. Design becomes a key aspect that differentiates successful platforms from less successful ones. Variety of Traded Assets The variety of traded assets is one of the key parameters that investors consider when choosing a trading platform. Modern financial markets offer a wide range of investment opportunities, and the best trading platforms provide access to all this diversity. One of the best platforms for trading in financial markets is mt5, which offers access to several markets, including Forex, stocks, futures and CFDs. This platform supports convenient one-click trading, advanced order execution modes, ......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

Emaar Development's sales backlog has increased to AED 74.2 billion (US$ 20.2 billion), to be recognised as revenue in the coming years. Emaar Development announced the launch of two major developments: The Heights Country Club & Wellness and Grand Polo Club & Resort, spanning over a total 141 million square feet of land, with a combined development value of AED 96 billion (US$ 26 billion). In Q2 2024, Emaar Development launched the second phase of "The Valley" masterplan. Dubai, United Arab Emirates – August 8, 2024: Emaar Development PJSC (DFM: EMAARDEV), the UAE build- to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), achieved 56% increase in property sales reaching to AED 29.7 billion (US$ 8.1 billion) for the first half of 2024 (January to ......read more