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ABU DHABI/WAM Abu Dhabi National Insurance Company (ADNIC) has announced that for the six-month period ended 30th June 2024, profit before tax has grown by 10% year-on-year to AED224.3 million, while net profit reached AED205.2 million. In a press release on Friday, the company said, “At a consolidated Group level, Total Assets have increased by 41% to AED10.9 billion compared ...

ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Tharman Shanmugaratnam of Singapore, on the occasion of his country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime ...

ABU DHABI/WAM Etihad Airways announced it will start flying its A380 double-decker to Singapore (SIN) from 1st February, 2025. It will also boost its flights to Thailand to 41 per week from 27th October, 2024, up from the current 35 flights. The new schedule will include 21 flights to Bangkok and 20 to Phuket, compared to the current 18 and ...

DUBAI/WAM Emaar Properties has released its financial results for the first half of 2024, reporting total revenue of AED14.4 billion ($3.9 billion) and a net profit before tax of AED7.8 billion ($2.1 billion), achieving growth of 17% and 33%, respectively over the same period last year. In a statement on Thursday, the company said that the improved performance was driven ...

ABU DHABI/WAM ADNOC Distribution today announced its financial results for the second quarter of 2024. The Company reported a 15.0% YoY increase to $267 million in Q2 2024 EBITDA, and a 12.9% YoY rise in net profit to $170 million. Excluding the impact of the UAE corporate tax, net profit would have increased by 24.5% YoY to $187 million. Strong ...

ABU DHABI/WAM Etihad Airways today announced its H1 2024 results, recording a 48 percent increase in profit after tax achieving AED851 million (US$232 million), a significant increase from AED575 million (US$157 million) in H1 2023. Total revenue increased 21 percent to AED11.7 billion ($3.2 billion), from AED9.6 billion ($2.6 billion) in H1 2023, mainly due to passenger revenue, which saw ...

DUBAI/WAM Dubai Electricity and Water Authority (DEWA) today reported its first half 2024 consolidated financial results, recording revenue of AED13.7 billion, EBITDA of AED6.6 billion, operating profit of AED3.3 billion and profit after tax of AED2.6 billion. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “Our first-half financials reflect robust revenue growth of 7.3% and impressive EBITDA growth ...

JEDDAH/WAM Khalifa Shaheen Al Marar, Minister of State, led the UAE delegation to the open-ended extraordinary meeting of the Executive Committee of the Organisation of Islamic Cooperation, which was held at the foreign minister level. The meeting took place at the headquarters of the OIC’s secretariat in Jeddah at the request of Palestine and Iran, and discussed current developments and ...

ABU DHABI/WAM Burjeel Holdings PLC, listed on the Abu Dhabi Securities Exchange (ADX), reported a 10.4 percent growth in revenue to AED 2.4 billion for the first half of the current year ending 30th June 2024. Outpatient and inpatient revenue increased by AED 137 million and AED 82 million, respectively, the group said in a statement today. Group earnings before ...

ABU DHABI/WAM  Youssef Salem, Chief Financial Officer of ADNOC Drilling, projected the company to achieve net profits between US$1.15 billion and US$1.3 billion by the end of 2024. In a statement to the Emirates News Agency (WAM), he said that the company achieved net profits of about US$570 million during the first half of 2024, while it is expected to ...