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Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, provides cooling services to 21% of Dubai's hotels and hotel apartments, up from 19% the previous year. The company's services are contributing to the reduction of carbon emissions in alignment with Dubai's sustainability and zero emissions targets. Empower's services are in high demand from developers and operators of new hotels due to their compliance with international standards and use of innovative, AI-powered technologies. The company's efforts are consistent with Dubai's vision of a green economy and sustainable development. Empower's CEO, Ahmad bin Shafar, emphasized the company's early investments in AI-based infrastructure and strong support for the Arab Travel Market 2024's focus on sustainability and innovation in the travel industry.
The National General Insurance Company PSC (NGI) has processed a corporate action today, distributing bonus shares. These have been credited into the accounts of investors with trading members, custodian members, or the registry account with Dubai CSD, based on the owned balances in each of these accounts as of the closing date (26/04/2024).
Resolution No. 396 of 2024 announces the temporary suspension of trading on the shares of Gulf Cement Co. on the ADX (Abu Dhabi Securities Exchange). The suspension is due to coincide with a Board of Directors meeting scheduled for 14:00 on 15-May-2024. Trading will be suspended from 09:00 on the same day until the ADX receives the meeting results. All department heads at ADX are instructed to execute this resolution in their respective fields. The resolution will be circulated to the SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 08/05/2024.
Dubai Taxi Company (DTC) reported a 40% YoY increase in EBITDA to AED 169.9 million in Q1 2024. Revenue for the quarter grew by 16% to AED 558.4 million, driven by improvements across all segments. The company's taxi segment saw a 15% YoY increase in revenue, supported by the addition of new taxis to its fleet. The limousine segment also performed well, with a 7% YoY and 17% QoQ increase in revenue. The bus segment revenue rose by 28% YoY to AED 37 million, while the delivery bikes segment saw a fourfold increase in revenue YoY. Despite the introduction of corporate tax, DTC's net profit grew by 15% YoY to AED 108.0 million. Excluding the tax impact, net profit increased 26%.
The document is a review report and condensed interim financial information for the Dubai Taxi Company P.J.S.C., covering the three-month period ending on 31 March 2024.
The document presents the consolidated and separate condensed interim financial information for Oman and Emirates Investment Holding Company SAOG for the three-month period ending on 31 March 2024.
The Annual General Assembly of Emsteel Building Materials PJSC was held on Tuesday, April 23rd, 2024 at 3:30 pm at the company's offices in Abu Dhabi. The meeting was conducted through physical and remote attendance. Registration for shareholders was open from 3:30 pm on Monday, April 22nd, 2024, and closed at 3:30 pm on Tuesday, April 23rd, 2024. Shareholders representing 87.72% of the company's share capital, equivalent to 6,009,135,655 shares, registered for the meeting. The assembly discussed the topics listed on the meeting agenda and made appropriate decisions. Attendees included H.E. Hamad Abdulla Mohamed Alhammadi (Chairman), Eng. Saeed Ghumran Saeed Alremeithi (Board Member and Group CEO), Eng. Abdulaziz Abdulla Ismail Alhajri (Board Member), and Mr. Nabeel Qadir (Board Member).