August, 2024

• 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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• 13 August

  Chiva-Som: 30 Years of Pioneering Holistic Wellness

  

  THAILAND / GULF TIME For three decades, Chiva-Som has been a pioneer in the realm of holistic wellness. The renowned resort has redefined the concept of wellness destination, offering a transformative experience that encompasses the mind, body, and spirit. At the heart of Chiva-Som’s philosophy lies personalisation. Guests embark on a bespoke wellness journey, guided by expert practitioners who tailor ...

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• 12 August

  DMCC accounts for 15% of all FDI to Dubai

  

  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 ...

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• 12 August

  Nasdaq Dubai welcomes $500 million Sustainability Sukuk by Kuwait’s Warba Bank

  

  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 ...

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