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Threads on regulatory news from companies
Al Salam Bank - Sudan, a public company, has released its unaudited financial statements for the six months ending June 30, 2024.
Sukoon Insurance PJSC has announced a Board of Directors meeting scheduled for Tuesday, July 23, 2024, at 10:00 AM. The meeting will take place at the company's head office in Deira, Dubai, and will also be accessible via Teams video conferencing. The agenda includes the approval of Q2 2024 financial statements, the appointment of an external actuary, and a general review of the company's business. This notification was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.
Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, hosted a technical study tour on district cooling in Dubai, organized by the United Nations Environment Program (UNEP) on July 15th and 17th, 2024. The tour included high-level delegates from the governments of Tunisia, Morocco, and Punjab (Pakistan), with funding support from the Government of Italy. The event, part of the UNEP-led Cool Coalition, featured workshops, training, and discussions on district cooling in Dubai and Abu Dhabi. Participants included UNEP representatives, Empower's management team led by CEO Ahmad bin Shafar, and virtual participation by Rob Thornton, President and CEO of the International District Energy Association (IDEA), among others. The tour also included a visit to Empower's district cooling plant in Dubai's Business Bay area to demonstrate the practical operations and the integration of AI and advanced technologies in district cooling. The initiative reflects UAE's and Dubai's commitment to sharing expertise for a better global future.
Emirates NBD reported a record profit of AED 13.8 billion in the first half of 2024, a 12% increase year-on-year, driven by strong lending growth and substantial impaired loan recoveries. The bank's lending grew by 6%, surpassing AED 500 billion for the first time. All business units performed exceptionally well, with significant achievements in retail lending, UAE credit card market share, and a 41% year-on-year increase in Assets Under Management. Corporate lending originated AED 48 billion in new loans, contributing to the bank's robust capital ratios and solid balance sheet. Key highlights include a total income of AED 21.4 billion, a 3.65% net interest margin, and record profits from Emirates Islamic. Earnings per share rose by 13% to 214 fils.
Emirates NBD Bank (P.J.S.C.) has released its group condensed consolidated interim financial statements for the six-month period ending June 30, 2024.