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DIB logs 15% net profit growth reaching AED3.1bn in H1’23

DUBAI / WAM Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its financial results for the period ending 30th June, 2023. The bank’s group net profit came in at AED 3.111 billion, up 15 percent YoY compared to AED 2.7 billion, driven by rising core revenues, controlled impairments and effective cost management. DIB’s net ...

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Sharjah Sustainable City reports strong sales performance in H1 2023

SHARJAH / WAM Sharjah Sustainable City — the first sustainable master-planned residential community developed by Sharjah Investment and Development Authority (Shurooq) in partnership with Diamond Developers — has announced strong sales performance in the first half of 2023, further demonstrating its position as a leading sustainable developer in the region. Launched at Acres 2023, the 4th and final phase of ...

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NMDC doubles first half net profit to AED881m

ABU DHABI / WAM National Marine Dredging Group has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million. This remarkable achievement reflects the success of the group’s geographic expansion strategy and the successful execution of major projects. The first half year results demonstrate record-breaking numbers and substantial growth in both revenue ...

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UAE’s Masdar joins Iberdrola to co-invest in Baltic Eagle wind farm

MADRID / WAM Masdar has signed a strategic agreement with Iberdrola, a global clean energy leader, to co-invest in the 476-megawatt (MW) Baltic Eagle offshore wind farm in the German Baltic Sea. Iberdrola will retain a majority 51% stake in the asset, which will help to accelerate green energy security in Europe. According to the deal terms, Baltic Eagle wind ...

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UAE leaders wish President of Maldives on Independence Day

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Ibrahim Mohamed Solih, President of the Maldives, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh ...

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Over 9 million visitors to UAE’s Government Unified Digital Platform ‘U.AE’ in H1 2023

ABU DHABI / WAM The Telecommunications and Digital Government Regulatory Authority (TDRA) announced that 9.1 million people visited the UAE’s Government Unified Digital Platform “U.AE” from the beginning of 2023 until the end of June, reaching 14 million visits. The semi-annual increase in the average number of pages viewed was 3.52 percent, compared to the same period last year, reflecting ...

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Hamdan bin Mohammed issues Resolution on Board of Knowledge Fund Establishment

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued Executive Council Resolution No (55) of 2023 on the Board of Directors of the Knowledge Fund Establishment. Ahmad Abdul Kareem Julfar will chair the Board while Mohammed Abdullah Al Shaibani will serve as the Vice ...

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Dubai chamber promotes local businesses with Global Expansion Series

DUBAI / WAM Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has launched the Global Expansion Series to help local businesses grow internationally. Designed to support the objectives of the Dubai Global initiative, the events will create a dedicated support channel for business matching, provide timely intelligence on market opportunities and accessibility, and assist companies in ...

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ADCP announces strategic pact with AP Moller Capital

ABU DHABI / WAM Abu Dhabi Catalyst Partners (ADCP), a joint venture between Mubadala Capital and Alpha Wave Global, to support the development of Abu Dhabi Global Market (ADGM), on Wednesday announced its partnership with AP Moller Capital P/S, a value-add infrastructure fund manager focused on high growth markets, and part of the AP Moller Group. This new investment in ...

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