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Abu Dhabi Future Energy Company PJSC (Masdar), in which Abu Dhabi National Energy Company PJSC (TAQA) holds a 43% share, has announced an agreement with Spanish company Endesa S.A. for Masdar to acquire a 49.9% stake in Endesa’s operational photovoltaic (PV) assets in Spain. The portfolio includes 48 PV facilities with a total installed capacity of around 2 GW and potential battery energy storage system (BESS) hybridization up to 0.5 GW. Masdar will invest €817 million (AED 3.2 billion) in this transaction, expected to close by the end of 2024, pending regulatory and customary approvals. For more details, refer to Masdar’s full announcement on their website.

EasyLease reported a 36.1% year-over-year revenue increase for the first half of 2024, reaching AED 189.72 million. Operational profit rose by 67.3% to AED 24.3 million, and net profit increased by 11.3% to AED 18.24 million. The company's total assets grew to AED 478.98 million as of June 30, 2024. This growth is attributed to strong demand in the mobility and logistics sectors in the UAE and GCC, as well as strategic investments in technology and market expansion. Chairman Matar Suhail Ali Al Yabhouni and CEO Ahmad Al Sadah highlighted the company's robust performance and commitment to long-term growth and sustainability.

The National Bank of Fujairah PJSC (NBF) announced a 46% year-on-year increase in net profit before tax, reaching AED 484.9 million for the six-month period ending 30 June 2024, compared to AED 332.1 million in the same period of 2023. The net profit after tax was AED 441.2 million, with a corporate tax charge of AED 43.8 million. The bank reported a net profit before tax of AED 210.1 million for Q2 2024, a 16.7% increase over Q2 2023. This growth is attributed to strong business opportunities, effective margin and liquidity management, high interest rates, improved impairment provisions, cost management, and favorable market conditions. NBF's operating profit rose by 7.7% to AED 845.8 million, and operating income increased by 8.2% to AED 1.2 billion. Net interest income and income from Islamic financing and investment activities grew by 7.0% to AED 882.5 million for the six-month period.