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ABU DHABI/WAM The IPO market in the Middle East and North Africa (MENA) region remained resilient during the second quarter of this year, with 14 IPOs registering total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year. According to the Ernst & Young report on IPO activity in the MENA region, the second quarter of ...

GAZA / WAM As part of Operation Chivalrous Knight 3 and the UAE’s efforts to support the healthcare sector in the Gaza Strip, medical supplies and medicines have been provided to the UK field hospital and UK-Med clinics in Gaza. This initiative comes in response to the severe shortage of medical supplies in the Strip and the local healthcare system’s ...

ABU DHABI/WAM Response Plus Holding (RPM), the largest pre-hospital care and emergency medical services provider in the UAE and KSA, has released its interim H1 2024 results, with a 24 percent revenue surge year-on-year (YoY) to AED209.88 million. In a statement on Tuesday, RPM said its net profit after tax was AED27.17 million. Meanwhile, total assets of RPM rose to ...

DUBAI/WAM The Board of Directors of Salik Company PJSC (Salik), Dubai’s exclusive tollgate operator, chaired by Mattar Al Tayer, Chairman of the Board, today announced the Company’s financial results for Q2 2024 and H1 2024, generating a net profit after tax of AED544.8 million in H1 2024. Salik delivered a very healthy financial performance in the first half of 2024, ...

ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed a delegation from the Ministry of Industry and Advanced Technology today, along with several Emiratis working in the industrial sector. The meeting also included representatives from industrial companies and partners of the ‘Industrialists Programme,’ an initiative focused on creating jobs in industry and advanced technology. This programme ...

DUBAI/WAM DMCC—the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise—has announced key performance results in H1 2024, recording 1,023 new member companies, bringing its total to almost 25,000 companies. DMCC now accounts for 15% of all foreign direct investment (FDI) in Dubai, up from 11% last year, and 7% of the emirate’s GDP. DMCC’s ...

DUBAI/WAM Nasdaq Dubai has welcomed the listing of US$500 million Sustainable trust certificates issued by Warba Bank, a Kuwaiti Islamic Bank. This is the fourth listing under their $2 billion trust certificate issuance programme. In a statement on Monday, Nasdaq Dubai said, “This is a significant listing, as it marks the first-ever Sustainability Sukuk to be issued in Kuwait in ...

VIENNA/WAM The Organisation of the Petroleum Exporting Countries (OPEC) said the UAE’s economy continues to demonstrate robust growth, particularly within non-oil sectors such as real estate, tourism, and manufacturing. In its Monthly Oil Market Report (MOMR) for August 2024, housing, water, electricity, gas, and other fuels – constituting over 40 percent of the Consumer Price Index (CPI) – saw a ...

ABU DHABI / GULF TIME UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent an inspiring message for the youth for International Youth Day. His Highness Sheikh Mohamed took to social media platform X, formerly Twitter, to extend his wishes. His Highness Sheikh Mohamed said, “On International Youth Day, we celebrate the important role of youth in ...

DUBAI/WAM The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office and Samsung Gulf Electronics have announced a groundbreaking partnership to integrate Samsung’s Innovation Campus (SIC) into the UAE AI Camp 2024. This collaboration marks a significant step towards promoting AI learning among the UAE’s youth, aligning with the UAE Strategy for Artificial Intelligence 2031. The partnership will see ...