Etihad Airways reports net profit of Dh851m and total revenue of Dh11.7bn in H1 2024
Etihad Airways today announced its H1 2024 results, recording a 48 percent increase in profit after tax achieving Dh851 million (US$232 million), a significant increase from Dh575 million (US$157 million) in H1 2023, highlighting the airline’s continued focus on growth coupled with optimising operational efficiencies. Etihad’s total revenue increased 21 per cent to Dh11.7 billion […]
Emirates to introduce retrofitted Boeing 777s to Zurich, Riyadh
Emirates today announced plans to introduce its newly retrofitted Boeing 777s to two more cities – Zurich and Riyadh from 1st October 2024. In a statement on Tuesday, the airline said it will also layer on refurbished B777s to Geneva and Brussels operations, making them the first two cities in the airline’s network to sport […]
AD Ports Group reports 42% growth in total net profit in Q2-24
AD Ports Group on Tuesday announced that its total net profit reached Dh439 million in Q2 2024, an increase of 42% Year-on-Year (YoY), while the net profit after minorities reached Dh333 million in Q2 2024, an increase of 16% YoY. In a press release, the company said that revenues have more than doubled YoY to […]
ADNOC Drilling to be added to MSCI’s flagship indexes on August 30
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 […]
UAE Government issues federal decree-law amending domestic workers law
The UAE Government has issued a federal decree-law amending specific provisions of the Federal Decree-Law Concerning Domestic Workers and its Amendments. These amendments aim to strengthen the rights of all parties involved in employment relationships, as well as facilitate and accelerate resolving disputes. The new decree amends the jurisdiction for disputes related to domestic workers, […]
UAE leaders congratulate President of Chad on Independence Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Mahamat Idriss Deby Itno, President of the Republic of Chad, 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 […]
UAE a global hub for cultivating disruptive technology: AI experts
Executives from leading artificial intelligence (AI) companies have highlighted the leadership of the UAE and Dubai in attracting global innovators, startups, and capital, as well as leaders from various sectors of the digital economy to the Middle East. In statements to the Emirates News Agency (WAM) during a panel discussion held at the Dubai International […]
NMDC Energy recognised as Industry 4.0 Digital Leader by MoIAT
NMDC Energy, a subsidiary of NMDC Group, has been officially recognised and certified as an Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology (MoIAT). This distinction recognises NMDC Energy as a leader in the Fourth Industrial Revolution, leveraging state-of-the-art technologies to enhance operational efficiency, promote sustainable growth, and increase competitiveness within […]
Abu Dhabi’s ADQ signs agreement to acquire strategic minority investment in Sotheby’s
ADQ, an Abu Dhabi-based investment and holding company, has signed a definitive agreement with Sotheby’s, the global leader in fine art and secondary market luxury, for ADQ to acquire a minority interest. Under the terms of the agreement, ADQ will acquire newly issued shares of Sotheby’s to further strengthen its balance sheet and augment the […]
Abu Dhabi realty makes steady gains in Q2 2024: ValuStrat report
Abu Dhabi’s real estate sector continues to remain robust, according to the latest quarterly report by ValuStrat. The second quarter of 2024 witnessed sustained growth across all segments. Residential property values soared, with villa prices surging by an impressive 7.3% year on year (YoY) and 2.2% quarter on quarter (QoQ). Apartment prices also recorded commendable […]