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DUBAI / WAM Parkin Company on Thursday announced that it has set the final offer price for its initial public offering (IPO) at AED2.10 per share. This will result in approximately AED1,574.37 million (c. $428.69 million) of gross proceeds for Dubai Investment Fund (Selling Shareholder). The Company and Selling Shareholder confirm the previously announced Offering size of 749,700,000 shares, equivalent ...

DUBAI / WAM DP World Limited has announced the financial results for the year ended on December 31, 2023. On a reported basis, the company’s revenue grew by 6.6 percent to US$18.25 billion and adjusted EBITDA rose by 1.9 percent to $5.108 billion with a healthy adjusted EBITDA margin of 28.0 percent. The revenue growth was supported by Drydocks World ...

ABU DHABI / AD MEDIA OFFICE Abu Dhabi Global Market (ADGM) has declared 2023 as a year of success for the international financial centre of the UAE’s capital, highlighting its performance as the fastest-growing financial centre in the region for two consecutive years, as well as Abu Dhabi’s rise as a globally recognised financial hub. ADGM had a strong start ...

SEOUL / WAM South Korea and the United States have decided to step up development cooperation in Indo-Pacific and Africa, Yonhap news agency reported. Soutk Korea’s Second Vice Foreign Minister Kang In-sun held talks with the head of the U.S. Agency for International Development (USAID) to discuss ways to strengthen their partnership, according to Korean foreign ministry. During the meeting ...

ABU DHABI / WAM This innovative service enables TRENDS Research and Advisory (TRENDS), in partnership with the China Media Group Regional Office, is organising a joint symposium entitled “China’s Economy in the Prosperity Phase”. The event will be held on March 19 at TRENDS Conference Hall in Abu Dhabi. The symposium will bring ambassadors, experts and researchers from the UAE ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan welcomed members of the Federal Supreme Council and Rulers of the Emirates today and exchanged greetings on the occasion of the holy month of Ramadan. They prayed to Allah Almighty for it to be a month of goodness, blessings, and mercy for all and to ensure security, stability, ...

ABU DHABI/WAM ADNEC Group has announced the launch of the region’s first Bitcoin MENA Conference 2024 set to take place on 9-10th December 2024 in the Abu Dhabi National Exhibition Centre (ADNEC Centre Abu Dhabi). Co-organised by Capital Events, the event management arm of ADNEC Group, and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference, ...

MUKALLA/ WAM The Emirates Red Crescent (ERC) has launched the “Ramadan Project” to distribute food to patients with cancer, thalassemia, and kidney failure in Mukalla, as well as to needy families in Hadramaut Governorate, Yemen. The project aims to bring joy and happiness during Ramadan by providing 1,122 food baskets to 5,610 individuals in targeted families. Hamoud Rashid Al Shamsi, ...

ABU DHABI/ WAM In the presence of Abdullah bin Touq Al Marri, Minister of Economy and Chairman of Investopia, Investopia signed a new Memorandum of Understanding (MoU) with EFG Consulting to enhance cooperation in the forthcoming round of Investopia Global Talks – Europe in Milan. The dialogues aim to examine recent trends in investment and financing in European markets in ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi—Kezad Group and Al Masaood Automobiles have signed a lease agreement for 12,000 sqm of warehousing space in Kezad Logistics Park Phase 5 as their spare parts logistics centre. Al Masaood Automobiles has been an icon in Abu Dhabi’s automotive market for the past four decades. It is a world-class network of ...