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TECOM Group reported a 23% year-on-year increase in net profit for the first nine months of 2024, reaching AED 943 million, driven by record revenues of AED 1.7 billion, a 10% increase from the previous year. The company's EBITDA rose by 13% to AED 1.4 billion due to increased revenues and operational efficiencies. Funds from operations increased by 20% to over AED 1.2 billion, while total investments in commercial and industrial assets surpassed AED 2.7 billion. In the third quarter, TECOM achieved a 12% rise in revenue to AED 611 million and a 20% increase in net profit to AED 340 million.
BHM Capital Financial Services has been appointed as the liquidity provider for ADNH Catering shares on the Abu Dhabi Securities Exchange (ADX). This partnership aims to improve liquidity, enhance price stability, and facilitate efficient transactions for investors. BHM Capital will enter two-way daily quotes into the market's trading systems, complying with ADX and UAE Securities and Commodities Authority regulations. CEO Abdel Hadi Al Sa’di expressed pride in this role, emphasizing the company's commitment to market efficiency and investor confidence. BHM Capital is a leading financial institution in the UAE, offering services to individual and corporate investors.
Salik Company (PJSC) has announced that two new toll gates, the "Business Bay Gate" and the "Al Safa South Gate," will begin operations on Sunday, November 24, 2024. This follows a disclosure by Salik's Board of Directors on August 28, 2024. For further details, individuals are encouraged to visit the Salik website.
The Abu Dhabi Securities Exchange has issued a notice regarding Sudatel Telecom Group's 31st Annual General Meeting (AGM), scheduled for 11:00 AM Sudan time on Saturday, November 16, 2024. Further details can be found on Sudatel's website. The announcement is addressed to the Market Operations Surveillance Department and signed by Manal Ibrahim Abuzaid, the Investors Relations Manager.
Date: 01/11/2024 Reference: RAPCO-BS/2024-045 The Board of Directors of RAPCO Investment PJSC held its fourth meeting of the year 2024 on Friday, November 1st, at 10:00 am at the company's offices. During this meeting, the board approved the minutes of the previous meeting and ratified its decisions. Additionally, other business and operational matters related to the company's activities were discussed. Sincerely, Yazan S. Maragha Board Secretary
The Chimera S&P US Shariah Growth ETF - Accumulating (CHUSSHG) is an exchange-traded fund designed to track the performance of the S&P 500 U.S. Shariah Top 30 35/20 Capped Index, aiming to provide investment returns before fees and costs. It offers access to the US equity markets with dividends reinvested. The fund, domiciled in the UAE, was launched on June 30, 2022, and is managed by Lunate Capital LLC. It is traded in AED on the Abu Dhabi Securities Exchange under the ticker CHUSSHG. The fund has a total expense ratio of 1.00% and is structured physically with a quarterly rebalance frequency. As of the latest data, the fund's NAV is AED 6.277, with an AUM of AED 15.69 million and 2,500,000 shares outstanding. Its top holdings include major companies like Apple, NVIDIA, and Microsoft. The fund has shown a performance of 70.89% since inception, though past performance does not guarantee future results. The sector allocation is heavily weighted towards Information Technology, followed by Communication Services and Consumer Discretionary.