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The Board of Directors of Fujairah Building Industries P.J.S.C. and its subsidiaries released their reviewed condensed consolidated interim financial statements for the period ending 31 March 2024. The company's main activities, including manufacturing and marketing of various industrial products, remained unchanged. The company's revenue increased to AED 51,015,061 from AED 45,510,098 in the previous year, and the net profit for the period was AED 6,281,313. The company's general assembly approved a cash dividend distribution of AED 40.7 million. The board expects the group to continue its operations in the foreseeable future. No significant events occurred after the period end that could affect the company's operations. KPMG Lower Gulf Limited, Dubai, UAE, was approved as the company's independent auditors for the financial year 2024.

Abu Dhabi National Insurance Company (ADNIC) reported a strong start to 2024 with a 12.1% year-over-year increase in pre-tax net profit, reaching AED 111.8 million. The company also adopted corporate income tax, resulting in a net profit after tax of AED 100.9 million. The profitability was driven by robust underwriting performance and strong investment results. ADNIC also completed a strategic acquisition of a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, strengthening its position as a leading regional insurer. Total insurance revenue for the first quarter of 2024 was AED 1.56 billion, compared to AED 1.00 billion in 2023. Net insurance service result stood at AED 103.2 million, and net income from investment increased by 17.4% to AED 54.4 million. Other operating expenses were AED 49.7 million.

The Abu Dhabi National Insurance Company (ADNIC) has reported strong financial results for Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also achieved a record Gross Written Premium of AED 3,031 million, marking a 49.9% growth compared to the same period in the previous year. Strategic asset allocation adjustments led to a 17.4% increase in net income from investments, amounting to AED 54.4 million. Despite ongoing investments and controlling general expenses, the company reported a net profit before tax of AED 111.8 million, a 12.1% increase from the previous year. After adopting the corporate income tax, the net profit after tax was AED 100.9 million. The company also successfully acquired Allianz Saudi Fransi Cooperative Insurance Company, boosting its regional presence.

The Abu Dhabi National Insurance Company (ADNIC) reported a strong underwriting performance in Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also recorded a Gross Written Premium (GWP) of AED 3,031 million, a 49.9% growth compared to the same period last year. Adjustments in strategic asset allocation resulted in a 17.4% increase in net income from investments to AED 54.4 million. Despite ongoing investments, the growth in overall expenses was lower than premium growth, reflecting in an expense ratio of 12.3%. The company also completed a strategic acquisition of a majority stake in Allianz Saudi Arabia Cooperative Insurance Company. This acquisition strengthens ADNIC's position as a leading regional insurer and supports its commitment to exceptional customer service and innovative insurance products across the GCC. The company reported a net profit before tax of AED 111.8 million, a 12.1% increase year-over-year, and a net profit after tax of AED 100.9 million. Earnings before tax per share increased from AED 0.17 to AED 0.20 and after tax from AED 0.17 to AED 0.18.

Abu Dhabi-based Aldar Investment Properties (AIP) has issued its second $500 million green sukuk, which was four times oversubscribed by regional and international investors. The issue achieved Aldar's tightest ever credit spread, reflecting strong business fundamentals and market confidence in the company's ESG commitments. The proceeds will be used in line with Aldar's Green Finance Framework, supporting investments in sustainable projects. The issuance also represents an opportunity for existing investors to reinvest, as Aldar has offered to buy back the sukuk maturing in 2025. This move is part of the company's $2 billion Trust Certificate Issuance Programme.

ADNOC Distribution reported a robust Q1 2024 growth with an 18% increase in EBITDA to $248 million and a net profit rise to $150 million. The company saw a 17% increase in fuel volumes and a 7% rise in non-fuel retail transactions. It also leveraged AI-driven digital innovation to enhance efficiency and drive value, including predictive fuel demand models and expanding its network of EV charging points. The company's CEO, Eng. Bader Saeed Al Lamki, stated that the results reflect the company's five-year strategy which prioritizes domestic growth, international platforms, and future-proofing the business. The company aims to expand its network to 1,000 stations, increase the number of fast and super-fast EV charging points to at least 500, grow non-fuel transactions by 50%, and increase the number of convenience stores by 25% by 2028.