August, 2024

• 16 August

  AD Ports Group completes Tbilisi Dry Port acquisition to become majority owner

  

  ABU DHABI/WAM AD Ports Group on Thursday announced the completion of the acquisition process of the Tbilisi Dry Port, which sees the Group become the majority owner with a 60% stake. The state-of-the-art, rail-linked, and custom bonded intermodal logistics hub, in Georgia – scheduled to be operational in October 2024 – further strengthens the Group’s role in connecting Asia and ...

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• 15 August

  Under the patronage of Nahyan bin Zayed, 30th Abu Dhabi International Chess Festival to take place

  

  ABU DHABI/AD MEDIA OFFICE Under the patronage of His Highness Sheikh Nahyan bin Zayed Al Nahyan, Chairman of the Abu Dhabi Sports Council, the 30th edition of the Abu Dhabi International Chess Festival is taking place until 25 August 2024. The opening activities of the international event will be held at The St. Regis Hotel Abu Dhabi, organised by the ...

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• 14 August

  AD Ports Group reports 42% growth in total net profit in Q2-24

  

  ABU DHABI/WAM  AD Ports Group on Tuesday announced that its total net profit reached AED439 million in Q2 2024, an increase of 42% Year-on-Year (YoY), while the net profit after minorities reached AED333 million in Q2 2024, an increase of 16% YoY. In a press release, the company said that revenues have more than doubled YoY to AED4.18 billion in ...

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• 14 August

  ADNOC Drilling to be added to MSCI’s flagship indexes on August 30

  

  ABU DHABI/WAM ADNOC Drilling Company has announced that its stock has been selected for inclusion in the prestigious MSCI indexes effective post market close on 30th August 2024. ADNOC Drilling will be included in the MSCI Indexes including MSCI EM, and MSCI UAE after meeting the necessary criteria. The Company will become the 12th member of the MSCI UAE index. ...

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• 14 August

  Yalla Group’s H1 revenue grows 4.7% to AED 587.3 million

  

  DUBAI/GULF TIME Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the second quarter of the fiscal year 2024, ending on June 30. The financial results revealed that Yalla’s H1 revenues have surpassed AED 587.3 million (US$159.9 million), recording ...

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• 14 August

  Middle East sees surge with 14 IPOs raising $2.64 billion, led by UAE, Saudi Arabia

  

  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 ...

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• 14 August

  UAE’s Operation Chivalrous Knight 3 provides medical supplies, medications to UK field hospital, UK-Med clinics

  

  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 ...

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• 14 August

  Response Plus Holding revenue surges 24% in H1 2024

  

  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 ...

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• 14 August

  Salik’s H1 2024 net profit reaches AED544.8 million

  

  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, ...

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• 14 August

  UAE President meets with Emirati industrial professionals and leaders, reviews ‘Industrialists Programme’ progress

  

  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 ...

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