Business & Money | Friday 16 February, 2024 2:28 am

SALAMA records full-year revenue of AED 1.11 billion; achieves 20% revenue growth in 2023

Islamic Arab Insurance Company, listed as “SALAMA” on DFM, announced its preliminary results for the 2023 fiscal year. The company recorded insurance revenue of AED 1.11 billion in 2023, an increase by 20% from fiscal year 2022.  Total assets registered an increase at AED 3.70 billion ...

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Business & Money | Friday 16 February, 2024 1:39 am

MAG GROUP HOLDING RECORDS OVER AED 12.6 BILLION SALES IN 2023

MAG Group Holding, the multinational conglomerate incorporating different companies across diverse sectors, announced the recording of AED 12.6 billion in sales for 2023 across its different real estate subsidiaries.Sales at the innovative Keturah brand, founded last year, reached AED 2.5...

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Business & Money | Friday 16 February, 2024 1:30 am

TENARIS RENEWS COMMITMENT TO UAE, UNVEILING ITS INDUSTRIAL COMPLEX IN ABU DHABI

Tenaris, a leading global steel pipe manufacturer and supplier, inaugurated its new Abu Dhabi industrial complex, Etihad Tubulars, with a 60 million USD investment. This industrial complex underscores the robustness of the company’s longstanding partnership with ADNOC and reaffirms its...

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Business & Money | Friday 16 February, 2024 12:31 am

Shaker, LG and the Ministry of Investment of Saudi Arabia (MISA) Sign an MOU

Al Hassan Ghazi Ibrahim Shaker Co. (“Shaker Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, has announced the signing of an MoU with LG Electronics (LG) and the Ministry of Investment of Saudi Arabia (MISA) to manufacture AC...

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Business & Money | Thursday 15 February, 2024 3:59 pm

Stars of Service: UAE Red Crescent Volunteers Appreciation Event at Arjaan Dubai Media City

Arjaan Dubai Media City in collaboration with the UAE Red Crescent, hosted an exquisite event at Skylight venue. The event, a joint effort with teams from 3 Rotana Hotels: Centro Barsha Dubai, DAMAC Hills 2 Hotel - Edge by Rotana, and Arjaan Dubai Media City served as a heartfelt gesture to express ...

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Business & Money | Thursday 15 February, 2024 10:16 am

AD Ports Group reports AED1.36 billion in net profit for 2023, up 6% YoY

AD Ports Group (ADX: ADPORTS) has reported AED1.36 billion in net profit for 2023, up 6% YoY. This came as the leading global facilitator of logistics, industry and trade, today announced its preliminary financial results for the 12 months ending 31st December 2023, reporting strong...

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Business & Money | Thursday 15 February, 2024 10:10 am

ADNOC L&S reports AED2,27 billion in 2023 net profits

ADNOC Logistics and Services plc (ADNOC L&S) (ADX symbol ADNOCLS / ISIN AEE01268A239), a global energy maritime logistics leader, today announced its Q4 and full year 2023 financial results. On a full-year basis, ADNOC L&S delivered a net profit of $620 million (AED2,277 million), or...

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Business & Money | Thursday 15 February, 2024 9:07 am

Trakhees processes more than 50,000 transactions during 2023

The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation (PCFC), completed more than 50,000 transactions carried out by the Trakhees’ Licensing Department during 2023, with a growth rate of (3%) compared to last year at the level of ...

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Business & Money | Thursday 15 February, 2024 9:05 am

CENOMI CENTERS SECURES UP TO SAR 5.25 BILLION SHARIAH COMPLIANT SUSTAINABILITY-LINKED FACILITIES

Cenomi Centers, the largest owner, operator and developer of shopping malls and complexes in the Kingdom of Saudi Arabia, has secured a Shariah compliant, sustainability-linked financing agreement with a syndicate of top tier banks. HSBC Saudi Arabia led the arrangement of the syndication,...

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Business & Money | Thursday 15 February, 2024 8:57 am

Moro Hub to Collaborate with NVIDIA in developing World-Class Green AI Data Centre in UAE

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), signed an agreement with collaboration to utilise NVIDIA's accelerated computing platform and reference architecture to build a world-class green AI data centre in the UAE.  A signing...

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