UAE: DEWAs profit after tax hits AED2.9 billion
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
an hour ago
- News18
Brazil awards UAE Ambassador countrys highest order
Brasilia [Brazil], August 13 (ANI/WAM): The Ministry of Foreign Affairs of the Federative Republic of Brazil awarded Saleh Ahmed Al Suwaidi, UAE Ambassador, the Grand Cross of the National Order of the Southern Cross, in recognition of his contributions to strengthening the strategic partnership between the UAE and Brazil, and on the occasion of the end of his decoration, presented to Al Suwaidi during a ceremony hosted by the Ministry of Foreign Affairs, is the highest honour granted by the Brazilian government to foreign is traditionally conferred upon heads of government, ambassadors, and other dignitaries, reflecting Brazil's diplomatic appreciation for recipients' his remarks, Carlos Duarte, Deputy Minister of Foreign Affairs for the Middle East and Africa, commended the progress achieved in the strategic partnership between the UAE and Brazil, as well as the agreements and memoranda of understanding signed between the two also highlighted the growth of UAE investments in Brazil across several vital sectors and wished Al Suwaidi success in his future his part, Al Suwaidi expressed his gratitude to the Brazilian leadership for this honour, which reflects the strong ties between the two countries and their peoples. He reaffirmed the UAE's commitment to strengthening relations with Brazil, as an important and influential partner, and to exploring promising opportunities for Suwaidi also expressed his pride in serving as the UAE's ambassador to Brazil, noting that the achievements realised are the result of collective efforts involving all Brazilian expressed optimism regarding the future of the strategic partnership between the UAE and Brazil, particularly in new fields such as innovation, artificial intelligence, data centres, advanced industries, and energy. (ANI/WAM)
News18
an hour ago
- News18
UAE: AD Ports Group posts AED 4.83 billion in revenue for Q2 2025
Abu Dhabi [UAE], August 13 (ANI/WAM): AD Ports Group today announced its financial results for the second quarter of 2025. The group's revenue surged 15 per cent year-on-year (YoY) to AED4.83 billion in Q2 2025, driven by the Ports, Economic Cities & Free Zones, and Maritime & Shipping EBITDA increased 9 per cent YoY to AED1.17 billion, with group EBITDA margin standing at 24.2 per cent in Q2 group's profit before tax reached AED519 million, up 5 per cent YoY, primarily due to the effect of higher depreciation and amortisation charges and finance net profit was relatively flat at AED445 million because of higher Income tax, while earnings per share (EPS) for the quarter stood at AED0.07, flat expenditure in the quarter totalled AED928 million, with most investment directed to Maritime & Shipping, Economic Cities & Free Zones, and Ports assets. Capex intensity fell to 19 per cent of group revenue from 28 per cent a year the strong operating profit performance and a cash conversion of 97 per cent for the quarter, operating cash flow reached AED1.14 billion in Q2 2025, almost doubling from the same period a year earlier. As a result, Free Cash Flow to the Firm (FCFF) was positive for the quarter and group's underlying operational performance was strong across the Ports, Economic Cities & Free Zones (EC&FZ), and Maritime & Shipping clusters, which together constituted over 90 per cent of total Q2 2025 EBITDA. In Ports, quarterly container throughput soared 17 per cent You, while general cargo volumes increased 13 per cent CMA Terminal at Khalifa Port, which began commercial operations at the start of 2025, achieved 80 per cent utilisation in the quarter and 62 per cent year to EC&FZ, another 600,000 m² of land were leased in Q2 2025, bringing the total land leases year-to-date to 1.6 km². Utilisation in the staff accommodation business, Sdeira Group, increased to 80 per cent, up from 63 per cent in Q2 2024 and 75 per cent in Q1 the Maritime & Shipping cluster, container feeder shipping volumes rose 34 per cent YoY, while the bulk, multipurpose, and Ro-Ro shipping vessel fleet reached 34 as of Q2 2025, up from 28 at the same period a year Mohamed Juma Al Shamisi, Managing Director and Group CEO, said that the company's five-cluster business model continued to deliver sustainable growth despite a challenging macroeconomic and geopolitical backdrop. He said the group's strategic flexibility helped offset external headwinds and seize opportunities in dynamic markets such as the Red Sea and emerging trade corridors in Central added, 'The long-term profitable nature of our value-enhancing internationalisation, which, in line with the vision of our wise leadership in the UAE, and despite all temporary obstacles, is positioning AD Ports Group as a leader in sustainable trade, transport, logistics, and economic development." (ANI/WAM)
News18
an hour ago
- News18
Dozens of New Xinjiang-Europe cargo routes raise forced labour concerns
London [UK], August 13 (ANI): Over the past year, China's Xinjiang province has seen the launch of more than 40 new freight routes to Europe, moving thousands of tons of goods, according to expansion comes despite ongoing accusations that Beijing is committing human rights abuses and using forced labour against the Uyghur population in the compiled by the Washington-based Uyghur Human Rights Project (UHRP) shows that more than nine cargo operators now fly from Xinjiang to destinations including the UK, Germany, Hungary, Greece, Switzerland, Belgium, Ireland, Spain, and other European countries. The findings are based on an analysis of air freight movements between June 2024 and May UHRP report warns that the 'rapid expansion" of air cargo links from Xinjiang to Europe poses 'a growing threat to the integrity of EU and UK supply chains," noting that shipments often include e-commerce items, textiles, footwear, electronics, auto parts, and agricultural products, industries with high exposure to forced labour carriers insist there is no evidence their freight contains such goods, while others claim they are not responsible for monitoring Alton, chair of the UK Parliament's Joint Committee on Human Rights, said he was 'deeply concerned" by the findings, pointing out that the growth in flights seems to undermine the EU's newly adopted forced labour screening July, his committee warned that Britain risks becoming 'a dumping ground" for products linked to modern slavery and called for targeted import bans to address weaknesses in the UK's 2015 Modern Slavery Act. This law obliges companies to issue annual statements outlining how they are working to prevent forced labour, but critics say enforcement is Volkswagen's decision to withdraw from the region due to the inability to audit its supply chain, Alton stressed that the Chinese government has repeatedly denied access to United Nations Special investigations by governments, the UN, human rights groups, researchers, and survivor testimonies have documented evidence of widespread, state-backed coercion of Uyghur labour in 2021, British MPs voted to recognise China's actions as 'genocide," citing the 'widespread use of forced labour," while the U.S. banned imports linked to Uyghur forced labour that same year, later expanding the ban in early 2025, according to Lea of Anti-Slavery International stated that 'all products" from the Uyghur Region should be presumed to involve forced labour, describing the practice as 'widespread and systematic."She also noted that Xinjiang's Urumqi airport has been promoted by Chinese authorities as a key hub in the 'Air Silk Road" initiative, linking the region to global trade as part of President Xi Jinping's Belt and Road the EU's Forced Labour Regulation, introduced in late 2024, aims to block goods produced through exploitation, and the UK's Modern Slavery Act seeks similar goals, both face serious enforcement challenges due to limited border checks and the difficulty of tracing complex global supply chains, Politico reported. (ANI)
