Qatar Insurance Group earns MSCI's highest ESG rating
This exceptional milestone places QIC among the world's top-performing insurers for ESG excellence and governance resilience. It also solidifies QIC's position as the first company in Qatar and the only insurer in the MENA region to receive a provisional ESG 'AAA' rating from MSCI*, joining an elite group of property and casualty insurers worldwide to earn this distinction.
Effective as of May 22 2025, the rating highlights QIC's outstanding performance across key ESG pillars: Privacy & Data Security, Human Capital Development, and Corporate Behavior.
Salem Al Mannai, QIC Group CEO, commented: 'The State of Qatar is a proud signatory to the Paris Agreement, and at QIC Group, we have aligned our sustainability strategy with the United Nations Sustainable Development Goals, the Qatar Stock Exchange's ESG reporting guidelines, and the Qatar Central Bank's directives to strengthen sustainable practices in the financial sector.
We take great pride in being a model of excellence in sustainability and governance, both in Qatar and across the region. This national achievement is a testament to Qatar's advanced investment environment and a reflection of the professionalism and efficiency of the country's regulatory authorities—foremost among them the Qatar Central Bank, which has played a pivotal role in shaping the legislative and regulatory frameworks that empower institutions under its supervision to grow and thrive sustainably."
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
Talabat lifts 2025 outlook after strong growth in Q2
Talabat Holding has reported strong financial results for the second quarter of 2025, prompting the Mena region's leading online ordering and delivery platform to raise its full-year guidance. The company posted a 32 per cent year-on-year increase in gross merchandise value (GMV) to $2.4 billion, with revenue up 35 per cent to $982 million. On a constant currency basis, GMV growth reached 33 per cent and revenue climbed 36 per cent. Adjusted Ebitda rose 31 per cent to $166 million, maintaining a 6.8 per cent margin, while net income jumped 33 per cent to $119 million, or 4.9 per cent of GMV. Adjusted net income, excluding non-recurring items, grew 25 per cent to $116 million, representing a margin of 4.8 per cent despite higher corporate income tax rates in the GCC. Strong cash generation saw adjusted free cash flow rise by 47 per cent to $190 million, equivalent to 7.8 per cent of GMV. Performance was driven by top-line growth across GCC markets — including the UAE, Kuwait, Qatar, Bahrain and Oman — as well as non-GCC markets such as Egypt, Jordan and Iraq. Both the Food and Grocery & Retail verticals delivered strong results, supported by accelerated customer acquisition, increased order frequency, and a surge in adoption of the Talabat pro premium subscription programme. The UAE, Talabat's largest market, maintained growth in line with the overall group, while Kuwait, its most established market, delivered over 20 per cent growth for both the quarter and the first half. The company also reported a favourable shift in its GMV geographical mix, with non-GCC markets rising to 17 per cent of total GMV from 14 per cent a year earlier. The GMV-to-revenue conversion ratio improved to 40 per cent from 39 per cent, driven by a higher share of tMart and subscription revenues. Although gross profit margins were impacted by a product mix shift, these were offset by improved cost efficiencies. In light of the strong momentum, Talabat has revised its 2025 guidance upward. It now expects GMV growth of 27–29 per cent on a constant currency basis, compared with the earlier forecast of 17–18 per cent, and revenue growth of 29–32 per cent versus the previous 18–20 per cent. Adjusted Ebitda margin is projected at 6.5 per cent, net income margin at 5.0 per cent, and adjusted free cash flow at 6.0 per cent. Chief Executive Officer Tomaso Rodriguez said the results reflect Talabat's success in expanding its groceries and retail verticals, strengthening customer loyalty, and sustaining strong growth in both core GCC and newer non-GCC markets. He added that the company's outlook for the remainder of 2025 remains strong across all operating metrics.
Khaleej Times
an hour ago
- Khaleej Times
Empower's district cooling consumption on strong demand, expansion
Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, reported a 7.1 per cent increase in consumption during the first half of 2025 compared to the same period in 2024. The growth, measured in refrigeration tons per hour (RTh), was attributed to high occupancy rates in existing projects and the addition of new developments to the company's portfolio. Empower said in a statement that the expansion has further diversified its customer base, which includes residential, commercial, hospitality, healthcare, retail, entertainment, and other sectors. These industries are increasingly adopting energy-efficient cooling solutions to reduce carbon emissions and align with sustainability goals. The company signed 86 new contracts in the first six months of the year to supply more than 99,000 refrigeration tons (RT) to projects across Dubai. With these additions, Empower's total contracted capacity reached 1.86 million RT, while connected capacity grew to more than 1.6 million RT following an increase of approximately 38,000 RT. The number of buildings served rose to 1,684. Ahmad bin Shafar, CEO of Empower, said the company's performance underlines its role in supporting Dubai's growth and sustainability agenda. 'We are committed to delivering district cooling services of the highest quality and reliability, leveraging advanced technologies and innovations,' he said. 'Our operations support Dubai's population growth, urbanisation, and economic development, while contributing to the emirate's green future and net zero goals,' Ahmad bin Shafar said. He added that the steady rise in consumption reflects customers' trust in Empower's ability to help reduce their carbon footprint and implement sustainable practices. 'The increase in demand and expansion of our customer base is a testament to the efficiency of our services. This motivates us to maintain quality while further growing our business and partnerships for the benefit of all stakeholders,' Shafar said. Shafar noted that Empower's readiness to meet rising demand in H1 2025 was due to its state-of-the-art district cooling systems, high operational efficiency, and advanced technologies. These factors, combined with significant capacity, enabled the company to serve a diverse range of sectors effectively. Ahead of the peak summer season, Empower carried out an extensive maintenance and preparation campaign across its 88 district cooling plants and distribution networks. This ensured operational readiness to meet the seasonal surge in demand, particularly during periods of high temperatures. The measures helped maintain a comfortable indoor environment for residents and businesses across also highlighted that district cooling consumption in Dubai has increased by approximately 69 per cent between 2020 and 2024. This long-term growth trend remains a key driver for the company's ongoing network expansion, as well as its revenue growth and profitability.
Gulf Business
4 hours ago
- Gulf Business
OSN, The Trade Desk launch MENA streaming ad partnership
Image: OSN website/ For illustrative purposes only MENA entertainment provider OSN has partnered with US-based advertising technology firm The Trade Desk to open the broadcaster's programmatic video inventory to advertisers, the companies said. The deal makes The Trade Desk the first demand-side platform (DSP) to give brands direct access to OSNtv's connected television and addressable video-on-demand inventory, covering Arabic and international content including HBO, Warner Bros. Discovery titles and OSN original productions. 'At OSN, we're committed to innovation that enhances the advertising experience while maintaining the highest standards for our viewers,' Hamid Davari, OSN's director of advertising, said in a statement. 'Partnering with The Trade Desk on our Advanced TV products allows us to open our premium inventory to brands in a way that is transparent, data-rich, and performance-focused,' he added. OSN, The Trade Desk aim to empower advertisers to make smarter, more data-driven decisions Terry Kane, The Dubai-based broadcaster, which operates in 22 countries, was the first in the region to introduce an on-demand video service and holds exclusive rights to HBO programming in MENA. It said the partnership combines its content library and direct-to-home viewer base with The Trade Desk's buying tools to expand access to the region's premium streaming audience.
