Latest Threads on News from companies

Air Arabia, the largest low-cost carrier in the Middle East and North Africa, reported a record net profit of AED 564 million for the third quarter of 2024, an 8% increase from the same period in 2023. The company's revenue for the first nine months of 2024 rose by 12%, surpassing AED 4.98 billion, with a 13% increase in passenger numbers and the launch of 22 new routes. In the third quarter, Air Arabia's revenue reached AED 1.78 billion, a 10% increase from the previous year, and over 5.1 million passengers were carried, marking an 8% rise. The seat load factor improved by 2% to 81%, indicating strong demand for the airline's services. Despite geopolitical and economic challenges, Air Arabia's performance highlights the resilience of its business model.

Air Arabia has announced that a board of directors meeting will be held on Monday, November 11, 2024, at 12:00 pm. The meeting will focus on discussing the financial results for the third quarter of 2024.

Dubai Insurance Co. held a Board of Directors meeting on November 11, 2024, at 11:00 am at the company's head office. The agenda included approving the third-quarter financials of 2024, reviewing circular No. 1/2024 concerning insurance brokers regulation, and reviewing circular No. 4/2024 concerning fitness and proper regulation. The information was communicated by Sahem Abdel Haq, Head of Legal, to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market.

Resolution No. (520) of 2024 announces a temporary suspension of trading for Gulf Investment House Company shares on the Abu Dhabi Securities Exchange (ADX). This suspension will begin at 14:00 on November 14, 2024, to coincide with a Board of Directors meeting scheduled for that time. Trading will resume once ADX receives the results of the meeting. The resolution mandates all relevant ADX departments to implement the suspension and requires that the decision be communicated to the Securities and Commodities Authority, the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 11, 2024.