Latest Threads
Check out what has been happening in the community
Check out what has been happening in the community
Sukoon Insurance, a leading insurance provider in the UAE, has introduced a new videoconferencing feature for its life insurance customers. This innovation allows applicants to complete their life insurance applications without extensive in-person medical examinations, aligning with the company's customer-centric strategy to enhance accessibility, convenience, and inclusivity. Emmanuel Deschamps, Executive Vice President, highlighted that this makes Sukoon the first in the UAE to offer such a feature for life insurance underwriting. The service is available for a specific age group with predefined premium limits. Dr. Faiza Zulfiqar, Head of Individual Life Underwriting, emphasized that this initiative improves client experience and ensures an efficient underwriting process. This development reflects Sukoon's commitment to exceptional service and continuous evolution to meet client expectations.
On 30 August 2024, Borouge PLC held a virtual General Assembly Meeting chaired by Board Member Mr. Khaled Al Zaabi. The meeting, which started at 3:00pm and ended at 3:30pm, had a quorum of 91.27% of the total attendance. During the meeting, an ordinary resolution was approved to distribute a cash interim dividend of USD 650,000,000 (approximately AED 2,387,125,000 or 7.9 fils per share) for the first half of the 2024 financial year.
Al Salam Bank has partnered with talabat to offer Visa Credit and Multi-Currency Prepaid cardholders a free 12-month t-pro subscription. This offer is available from September 1 to October 13, 2024, and includes benefits such as free delivery and special rewards. The t-pro service, recently launched in talabat Bahrain, provides unlimited free delivery from selected restaurants, grocery stores, pharmacies, and shops. The partnership aims to enhance client experience and satisfaction. For more details, visit Al Salam Bank's website or contact them via WhatsApp or their virtual branch.
Date: 2 September 2024 The Disclosures and Compliance Section of the Market Operations and Surveillance at Abu Dhabi Securities Exchange has received a notification regarding the completion of an acquisition. ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC have announced that their joint venture, Enersol RSC LTD, has completed the acquisition of an additional 42.206% equity stake in Gordon Technologies LLC. This acquisition increases Enersol's total equity stake in Gordon Technologies to 67.2%. Sincerely, Abdulrahman Abdulla Alseiari Chief Executive Officer Copy to: Securities and Commodities Authority
Date: 2 September 2024 To: Disclosures and Compliance Section, Market Operations and Surveillance, Abu Dhabi Securities Exchange, Abu Dhabi, UAE Subject: Notification for the completion of acquiring an additional equity stake of around 42.2% in Gordon Technologies LLC ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC announce that their joint venture, Enersol RSC LTD, has completed the acquisition of an additional 42.206% equity stake in Gordon Technologies LLC. This brings Enersol's total equity stake in Gordon to 67.2%. Sincerely, Abdulrahman Abdulla Alseiari Chief Executive Officer Copy to: Securities and Commodities Authority
The Chimera S&P Pakistan UCITS ETF - Income (CHPKIN) is an exchange-traded fund aiming to closely match the performance of the S&P Pakistan BMI Liquid 35/20 Capped Index. It offers access to Pakistan's equity markets and distributes dividends semiannually. Key details include: - Asset Class: Equity - Fund Base Currency: PKR - Share Class Currency: AED - Inception Date: 17th Aug 2023 - Total Expense Ratio: 1.00% - Dividend Treatment: Distributing - Domicile: Ireland - Methodology: Replicating - Product Structure: Physical - Rebalance Frequency: Quarterly - Management Company: Fundrock Management Co - Investment Manager: Lunate Capital Limited - NAV: AED 5.780 - AUM: AED 5.78 million - Shares Outstanding: 1,000,000 - Number of Holdings: 15 - Distribution Yield: 6.58% - Benchmark Ticker: SPPKRCAP - Type: UCITS - Total Market Cap: PKR 3,784.4 billion - P/E Ratio: 5.17x - P/B Ratio: 1.60x - ROE: 31.87% Performance since inception (17th Aug 2023) shows the ETF has returned 48.06%, while the benchmark returned 45.61%. The ETF trades on the Abu Dhabi Securities Exchange under the ticker CHPKIN, with trading hours from 10 am to 3 pm GST and a settlement period of T+2. Sector allocation includes Materials (29.5%), Financials (29.0%), and Energy (22.1%), among others. The top 10 holdings feature companies such as Hub Power Company Ltd and Fauji Fertilizer Company Ltd. Important notice: Past performance is not indicative of future results, and investments can vary in value.
Emirates Telecommunications Group Company (Etisalat Group) PJSC, also known as e&, announced an updated shareholding in Vodafone Group plc. As of September 2, 2024, e& holds approximately 15.010% of Vodafone shares. This change is due to Vodafone's share buyback program, which reduced its total share capital. e&'s total number of shares remains unchanged at 3,944.7 million shares.
The Chimera S&P China HK Shariah ETF - Income (CHHKSHIN) is an exchange-traded fund aimed at mirroring the performance of the S&P China Hong Kong-Listed Shariah Liquid 35/20 Capped Index. The fund provides access to Hong Kong equity markets and distributes dividends semiannually. It is categorized under the equity asset class, with the base currency in HKD and the share class currency in AED. The fund was launched on June 2, 2023, and has a total expense ratio of 1.00%. It follows a replicating methodology and is physically structured, with quarterly rebalancing. Managed by Lunate Capital LLC, the fund has a Net Asset Value (NAV) of AED 3.319 and assets under management (AUM) of AED 18.25 million. The fund holds 30 securities, with major sector allocations in Consumer Discretionary (74.9%) and top holdings including Alibaba Group Holding Ltd (32.90%) and Meituan (13.83%). The fund's performance since inception shows a return of -10.13%, compared to the benchmark's -10.35%. The ETF trades on the Abu Dhabi Securities Exchange under the ticker CHHKSHIN, with trading hours from 10 am to 3 pm GST.