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Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Integrated Telecommunications Company PJSC

Disclosure: Press release

Emirates Integrated Telecommunications Company PJSC reported strong financial results for Q2 2024, with quarterly revenues growing by 7.3% to AED 3.6 billion. The first half EBITDA margin expanded to 44.0%, and net profits increased by 54.2% year-over-year. The Board of Directors approved an interim cash dividend of AED 0.20 per share, a 53.8% increase year-over-year. Key achievements include a strategic partnership with Oracle Alloy in their ICT business. Operating highlights include a 2.9% year-over-year growth in the mobile customer base to 8.2 million subscribers, with postpaid customers increasing by 11.3% to 1.7 million. The fixed customer base grew by 12.7% year-over-year to 630,000 subscribers, driven by new offerings such as Home Wireless Gaming. EBITDA increased by 3.2% to AED 1.6 billion, and net profit rose by 46.3% to AED 581 million. Capex was AED 442 million, and operating free cash flow increased by 10.9% to AED 1.1 billion.

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Dubai Financial Market News

Dubai Financial Market News

News Update From Islamic Arab Insurance Company

Disclosure: BOD meeting

Islamic Arab Insurance Company – SALAMA (PSC) will hold a board meeting on Thursday, 25th July 2024 at 3:00 pm. The agenda includes electing the Board Chairman and Vice Chairman, and appointing members to the Board committees. This announcement was authorized by Khaled Barakat, General Counsel and Board Secretary, on 22nd July 2024.

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Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Integrated Telecommunications Company PJSC

Disclosure: Earnings Call

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Integrated Telecommunications Company PJSC

Disclosure: Financial statements for the 2n QTR of 2024

The document is a review report and condensed consolidated financial statements for Emirates Integrated Telecommunications Company PJSC and its subsidiaries, covering the six-month period ending on June 30, 2024.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Integrated Telecommunications Company PJSC

Disclosure: Results of BOD meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Islamic Arab Insurance Company

Disclosure: Resolutions of General Assembly

On July 22, 2024, the Islamic Arab Insurance Company (SALAMA) held its General Assembly meeting at the company headquarters with remote participation options. The meeting started at 3:00 pm and ended at 3:12 pm. The total attendance represented 51.4635% of the company's capital, divided into 26.5154% authenticity and 24.9482% proxy. Key decisions and resolutions included: 1. Approval of the appointment of Mr. Mohamed Alsayed Alhashmi as a new Board member, replacing Mr. Ajit Joshi who resigned on March 11, 2024. Mr. Alhashmi will serve until April 2026. 2. Discharge of the resigned Board of Directors, including H.E. Saeed Mubarak AlHajeri (Chairman of the Board), H.E. Mohammed bin Abdulaziz AlShehhi (Vice Chairman of the Board), Mr. Ammar Ali Mohamed Jaber, and Mr. Fahad Abdulqader Qassim Abdulla Alqassim, from liability. The meeting was chaired by H.E. Saeed Mubarak Alhajeri, and the results were disclosed by Khaled Barakat, General Counsel and Board Secretary, on the same day.

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Dubai Financial Market News

Dubai Financial Market News

News Update From Mashreqbank PSc

Disclosure: BOD meeting

Mashreqbank PSC has announced that a Board of Directors meeting will be held on Thursday, July 25th, 2024, at 10:00 am. The agenda includes the approval of the minutes from meetings held on April 19th and 25th, 2024, approval of the Bank’s financial statements for the second quarter ending June 30th, 2024, discussion of normal business activities, and any other business matters. The notice is addressed to Mr. Hamed Ahmad Ali, CEO of Dubai Financial Market, and is signed by Shaima Al Obeidli, Head of Corporate Governance & Group Company Secretary. A copy of the notice is also sent to the Securities & Commodities Authority.

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Dubai Financial Market News

Dubai Financial Market News

News Update From Alliance Insurance

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: GFH Financial Group Increases its Stake in GFH Equities

GFH Financial Group B.S.C. announced on July 22, 2024, that it has increased its stake in GFH Equities B.S.C. Closed (formerly known as GBCorp B.S.C. Closed) by 12.50%, raising its total ownership to 76.63%. This investment is expected to positively impact the Group's financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Refreshment Company P.J.S.C.

Disclosure: BOD meeting

Date: 22 July 2024 Ref: LM_LTR_02 7_2024 Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, UAE Subject: Dubai Refreshment P.J.S.C Board of Directors Meeting A Board of Directors meeting for Dubai Refreshment P.J.S.C is scheduled for Tuesday, 30 July 2024, at 4:00 PM. The agenda includes discussing and approving the unaudited interim condensed consolidated financial statements for the second quarter ending 30 June 2024, as well as discussing internal company matters. Kind Regards, Dubai Refreshment P.J.S.C Karem Mahmoud Director of Legal

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