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Presight, a leading big data analytics company in the UAE and majority shareholder of AIQ, has welcomed the announcement of the ENERGYai solution for the energy sector at ADIPEC 2024. Developed by ADNOC and AIQ in collaboration with G42 and Microsoft, ENERGYai aims to transform the global energy value chain. Presight plans to scale this solution across ADNOC’s full value chain, highlighting the collaboration between these companies. The announcement comes just before Presight's Q3 2024 results.
Taaleem Holdings PJSC held its Annual General Assembly on November 5, 2024, at Dubai British School and virtually. The assembly approved several key items: the Board of Directors' report on company activities and financial position for the fiscal year ending August 31, 2024; the auditor's report for the same period; the company's balance sheet, profit and loss, and financial statements; a cash dividend distribution of AED 120 million (AED 0.12 per share, representing 12% of the paid-up share capital); and the Board of Directors' remuneration proposal for the period from September 1, 2023, to August 31, 2024, totaling AED 5.25 million.
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, reported its financial results for the first nine months of 2024, showing significant growth. The bank's balance sheet expanded by nearly 5% year-to-date (YTD) to AED 329 billion. Total income increased by 17% year-over-year (YoY) to AED 17 billion, while pre-tax profit grew by 23% YoY to AED 6 billion. The bank's viability and ESG ratings were upgraded. Net financing and sukuk investments rose to AED 286 billion, a 7% increase YTD. Customer deposits reached AED 237 billion, up 6.7% YTD, with a notable rise in CASA deposits. Impairment charges decreased significantly by 62% YoY, and the non-performing financing ratio improved to 4.27%. The cost-to-income ratio increased slightly to 28.1% as the bank strengthened key areas. The liquidity coverage ratio remained strong at 140.1%, and the bank's capital adequacy ratios indicated a well-capitalized position, with CET1 at 13.9% and CAR at 18.3%.
The document is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C., covering the nine-month period ending on September 30, 2024.
On November 5, 2024, the National Cement Company held a board meeting from 10:00 AM to 11:30 AM with all seven board members present, achieving a 100% quorum. During the meeting, the board approved the minutes of the previous meeting and the financial statement for the period ending September 30, 2024. They also discussed the company's business. The information was disclosed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and copied to the Securities and Commodities Authority.