Latest Threads on News from companies

Union Properties PJSC reported a strong financial performance for the first quarter of 2025, with an 18.2% increase in revenue, reaching AED 163 million compared to AED 138 million in the same period of 2024. The company also saw a 25.3% rise in gross profit, amounting to AED 42.8 million, driven by improved operational efficiency and sustained demand. Union Properties continues its financial restructuring efforts, reducing its bank debt by AED 179 million in Q1 2025 and planning to pay down an additional AED 159 million in Q2 2025. This follows the settlement of AED 723 million in 2024, demonstrating the company's commitment to disciplined financial management and long-term sustainability. CEO Eng. Amer Khansaheb highlighted the strong start to 2025 as evidence of the effectiveness of their strategic initiatives and business model.

The document outlines the margin parameters for DFM Futures, effective from May 9, 2025. It lists various underlying symbols, their base margin percentages, currencies, and margin amounts per contract. The base margin percentages range from 5% to 12%, with margin amounts specified in AED or USD. The methodology for margin calculation and eligible margin types can be found in the Derivatives Clearing Guidelines and Procedures on the Dubai Clear website. The announcement is available on the Dubai Financial Market website. A disclaimer notes that the information is subject to change and emphasizes that the Dubai Financial Market Regulated Derivative Contract Trading Regulation takes precedence in case of any inconsistencies.

Salik Company PJSC, Dubai's exclusive toll gate operator, has signed a Memorandum of Understanding with ENOC Group to develop smart payment solutions at ENOC service stations. This partnership aims to enhance customer experience by integrating seamless payment options for fuel and services, using Automatic Number Plate Recognition technology. The payments will be deducted from the customer's Salik e-wallet. This collaboration is part of both companies' digital transformation efforts, aiming to improve operational efficiency and reduce reliance on traditional payment methods. The initiative also supports Salik's ancillary revenue growth.

Emaar Properties reported a strong performance in Q1 2025, with property sales increasing by 42% to AED 19.3 billion (US$ 5.3 billion) and a backlog growth of 62% to AED 127 billion (US$ 34.6 billion). Revenue rose by 50% to AED 10.1 billion (US$ 2.8 billion), and EBITDA grew to AED 5.4 billion (US$ 1.5 billion) with a margin exceeding 53%. The net profit before tax also increased by 27% to AED 5.4 billion (US$ 1.5 billion). Emaar declared a record dividend of AED 8.9 billion (US$ 2.4 billion) and continues to focus on customer satisfaction, talent development, cost efficiency, and sustainability initiatives. The company received its third ESG rating upgrade in four years from MSCI.

Emirates Central Cooling Systems Corporation (Empower), the largest district cooling services provider globally, has reinforced its commitment to enhancing the traveler experience at Dubai International Airport by offering advanced, eco-friendly district cooling solutions. These systems help reduce carbon emissions and improve operational efficiency, aligning with Dubai’s sustainability goals. During the 24th Airport Show 2025 at the Dubai World Trade Centre, Empower highlighted its role as the primary district cooling services provider for the airport, following its acquisition of the airport’s district cooling assets in 2023 for AED 1.1 billion. Empower provides cooling services with a capacity of up to 110,000 refrigeration tons. CEO Ahmad bin Shafar emphasized the company's commitment to supporting Dubai’s infrastructure, particularly in the aviation sector, by offering environmentally friendly cooling solutions that enhance energy efficiency and reduce the airport’s carbon footprint. Empower also uses advanced remote monitoring and operation technologies and plans to expand to meet growing cooling demands.