Latest news with #Dh8
Al Etihad
14 hours ago
- Business
- Al Etihad
ADNOC L&S Q2 revenue up 40% YoY to $1,258 million
12 Aug 2025 11:01 ABU DHABI (WAM) ADNOC Logistics and Services plc (ADNOC L&S) on Tuesday reported record-breaking second-quarter (Q2) and first-half (H1) results for 2025, surpassing market expectations and demonstrating resilience and operational strength in a volatile L&S's Q2 revenue increased by 40 percent year-on-year (YoY) to US$1,258 million (Dh4,618 million) with EBITDA growing 31 percent YoY to $400 million (Dh1,470 million).Net profit for the quarter grew 14 percent YoY to $236 million (Dh866 million).In H1 2025, the company's revenue was $2,439 million (Dh8,957 million), a 40 percent YoY increase. EBITDA rose by 26 percent YoY to $744 million (Dh2,732 million), driven by robust performance across all business segments, sustaining EBITDA margin at 30 profit for H1 2025 was $420 million (Dh1,544 million), up 5 percent YoY, and up 18 percent compared to H2 L&S's diverse and resilient business model enabled the company to deliver strong net profit and operating cash flow despite challenging shipping charter rate environments in Gas, Tankers, and Dry by strong performance in its core business segments and improving margins, ADNOC L&S has upgraded its full-year guidance, expecting faster growth due to continued momentum and enhanced operational efficiency across key company continues to enhance value and streamline operations across its diverse asset portfolio, while advancing integration and innovation through its shipping and logistics subsidiaries, Navig8 and Zakher Marine International (ZMI).CEO of ADNOC L&S, Captain Abdulkareem Al Masabi, said, 'We are proud to report our highest-ever quarterly results, underscoring the strength of our growth strategy and our ability to capitalise on diversified opportunities across our Integrated Logistics, Shipping, and Services segments."He added that this record-breaking performance reflects ADNOC L&S's continued outperformance of market expectations, driven by robust cash flows, strategic partnerships, and operational Masabi said the integrated logistics segment delivered a solid performance, with revenues rising 22 percent YoY to $1,293 million (Dh4,748 million), reflecting strong demand and strategic growth in key areas. As a result, EBITDA rose by 27 percent YoY to $420 million (Dh1,542 million), highlighting the segment's significant contribution to the company's overall strong, profitable growth was mainly driven by continued strong utilisation and rates on Jack-up Barges (JUBs), improved profitability on the Integrated Logistics Solution Platform, and increased chartering activity beyond the ILSP. Additionally, Engineering, Procurement and Construction (EPC) projects, including the G-Island and Hail & Ghasha, contributed to strong revenue the shipping segment, it demonstrated exceptional growth, with revenues surging 89 percent YoY to $981 million (Dh3,602 million). This performance was primarily driven by the consolidation of revenue from the Navig8 tanker fleet, marking a key milestone in the company's strategic EBITDA increased by 25 percent YoY to $290 million (Dh1,067 million), despite substantially weaker market conditions than H1 2024, reflecting strong operational execution. A robust EBITDA margin of 30 percent reinforces ADNOC L&S's ability to generate strong value even in less buoyant services segment continues to extend ADNOC L&S's diversified business model, with revenues rising 4 percent YoY to $165 million (Dh607 million). EBITDA grew 22 percent YoY to $33 million (Dh121 million), primarily driven by higher volumes at the Borouge Container Terminal and the share of profit from Navig8's bunkering business (Integr8).
Al Etihad
a day ago
- Business
- Al Etihad
Sharjah Ruler directs employment of 700 citizens by 2025 end
11 Aug 2025 17:09 SHARJAH (ALETIHAD) His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has made an important announcement to ensure that 700 Emirati citizens will be hired in the emirate's government by the end of His Highness Sheikh Dr Sultan bin Mohammed approved promotions for 1,523 employees within the government. These promotions, which include job advancements and special financial awards, will come at an annual expense of Dh22 254 employees who earned new qualifications, such as PhDs, Master's, or Bachelor's degrees, will have their statuses adjusted, costing Dh8,420,803. The benefits for these employees will start from the time they obtained their new degrees.
What's On
17-07-2025
- Business
- What's On
Save up to 10% on your first home purchase in Dubai
Launched just two weeks ago, this government-backed initiative is a collaboration between the Dubai Land Department (DLD) and the Department of Economy and Tourism, aimed at making homeownership more accessible, especially for first-time buyers. Leading developers, including Emaar, Nakheel, Azizi, and Binghatti, have already signed up, pledging direct discounts on properties. Industry insiders suggest these discounts could reach as high as 10% on homes priced up to Dh5 million. So, whether you're considering a cozy one-bedroom apartment or a spacious family villa, this programme could be the perfect opportunity to step into Dubai's property market. Am I eligible? You're eligible if you: Are 18+ and currently live in the UAE Don't own a freehold property in Dubai Want to buy a home under Dhs5 million Are applying alone or jointly (if all parties qualify) Own property in a non-freehold area? You're still eligible! Want to buy a home under Dhs5 million Once registered, you'll get priority notifications for new launches, whether or not you've found the right property yet. What perks do I get as a first-time buyer? No fluff. Here's what you'll actually get: Priority access to off-plan launches from top developers Discounted prices on select new properties Flexible payment plans, including DLD fee instalments via credit card Preferential mortgage rates from participating banks Faster mortgage approvals No extra cost to join the programme (you still pay standard DLD/Developer fees unless specified) Don't need a mortgage? You can still benefit from all property-related discounts. Who's involved? The Dubai First Home initiative is backed by some of the biggest names in real estate and banking. Developers: Emaar, Nakheel, Meraas, DAMAC, Danube, Azizi, Ellington, Dubai Properties, Majid Al Futtaim, Binghatti, Beyond, Wasl, Palma Holding have already signed up, and more are expected to join. These developers are offering direct discounts of up to 10% on selected properties priced under Dhs5 million. So far, 13 developers have officially signed on. Banks: Commercial Bank of Dubai, Emirates NBD, Mashreq, Dubai Islamic Bank, and Emirates Islamic are participating, each offering tailored mortgage products for first-time buyers. While mortgage interest rates remain stable at an average of ~3.99% for the first three years (before switching to a variable rate), some banks are offering reduced processing fees and may waive valuation costs under the programme. Is it worth it? Short answer: yes. First-time buyers could save Dh8,000 to Dh10,000 in reduced bank fees over the first few years, thanks to waived or discounted charges. On top of that, developers are offering up to 10% off property prices, plus flexible payment plans and faster mortgage approvals. And while mortgage interest rates haven't dropped yet, US rate cuts are expected later this year, which could lead to lower mortgage costs in the UAE, giving buyers even more long-term value. In short, this is a smart time to take your first step into Dubai's property market. I'm sold. How do I apply? You can register online now, via the official DLD website, and if you're not eligible, they'll let you know why so you can reapply later. Images: Unsplash > Sign up for FREE to get exclusive updates that you are interested in
Al Etihad
05-07-2025
- Business
- Al Etihad
Hamdan bin Zayed reviews Abu Dhabi Heritage Authority strategy, Liwa Dates Festival 2025 plan
5 July 2025 11:28 ABU DHABI (WAM) His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, received a delegation from the Abu Dhabi Heritage Authority, led by Chairman Faris Khalaf Al Mazrouei, at Al Seef Palace in Abu meeting came within the framework of the wise leadership's continued support for national efforts to preserve heritage and strengthen its presence in the meeting, the strategic framework of the Abu Dhabi Heritage Authority was reviewed. The framework encompasses over 62 projects and 231 activities, reflecting the Authority's vision to solidify and promote national identity values rooted in heritage across strategy aims to nurture talent in heritage and poetry, empower the heritage economy through the support of traditional crafts and industries, and enhance the global presence of Emirati Hamdan bin Zayed stressed that safeguarding authentic Emirati heritage and passing it on to future generations is a national and societal responsibility. He said this responsibility reflects the vision of the UAE's leadership and deep-rooted identity, affirming that Emirati heritage will remain a vital and inspiring presence in the lives of the country's highlighted that this interest stems from the directives and continued support of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, who places great emphasis on Emirati heritage as a fundamental pillar of national identity and a source of inspiration for future Hamdan bin Zayed praised the efforts of the Authority and its personnel, commending the initiatives that align with community aspirations and preserve the nation's collective memory. He instructed the expansion of activities and the enhancement of outreach and public communication tools to boost the UAE's cultural presence locally and was also briefed on the details of the festival and event plans for the Al Dhafra Region, which annually attract more than 450,000 visitors. Among the key events is the 21st edition of the Liwa Dates Festival, which draws over 116,000 visitors and is supported by a budget exceeding Dh14 festival supports farmers and productive farms while stimulating economic and tourism activity in the region. It also reinforces the status of the palm tree as a symbol of the UAE's rich event features 23 competitions, including contests for dates and summer fruits, among others, with total prize money exceeding Dh8 million. The festival includes dedicated areas for participating entities, traditional markets, productive families and heritage crafts, thereby enhancing community participation and encouraging future generations to uphold traditional customs and values.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Powering a cashless economy through fintech revolution
In a world rapidly shifting toward digitisation, the UAE has emerged as a regional — and global — trailblazer in the race to build a cashless economy. With an ambitious vision anchored in innovation, the country is redefining the future of finance, commerce, and customer experience. Leading this transformation is Dubai's strategic push to eliminate cash dependency, paving the way for a smarter, faster, and more secure financial ecosystem. At the heart of this evolution is the Dubai Cashless Strategy, a bold initiative launched by Digital Dubai with the goal of ensuring that 90% of all transactions are digital by 2026. This move aligns with Dubai's wider ambition to become one of the top digital cities in the world. By accelerating digital payments and financial innovation, the strategy is expected to inject more than Dh8 billion ($2.17 billion) into the economy annually. AI and machine learning technologies are being integrated into payment systems to enable real-time fraud detection, personalized financial services, and smarter decision-making across financial touchpoints. A Progressive Yet Balanced Ecosystem 'The UAE's digital payment ecosystem in 2025 is both highly progressive and uniquely balanced,' says Hennie Du Plessis, Senior Vice President – Financial Institutions, Middle East & Africa at IDEMIA. Citing findings from IDEMIA Secure Transactions' 2024 global survey on consumer payment trends, he notes that over 50% of UAE residents now regularly opt for cashless transactions. Interestingly, 67% still carry two or more physical cards — an insight that underscores the duality of consumer behaviour in the region. 'This tells us that while the digital infrastructure is accelerating rapidly, consumer trust in physical cards remains deeply rooted,' Du Plessis explains. 'The dual preference reflects a mature ecosystem that seamlessly integrates both digital innovation and physical reliability.' This coexistence of digital and traditional payment methods signals a nuanced and sophisticated market, where consumers are empowered with choice and confidence, and businesses are equipped to meet evolving expectations. At the heart of this transformation lies robust government policy. The UAE's leadership has played an instrumental role in driving the nation towards a cashless economy through strategic frameworks and future-focused initiatives. 'Government policy has been a driving force,' affirms Du Plessis. 'Programmes like the UAE Central Bank's Financial Infrastructure Transformation (FIT) strategy and broader smart government initiatives are setting a foundation for secure, real-time digital transactions.' The FIT programme, in particular, is designed to enhance interoperability, boost financial inclusion, and create an environment conducive to fintech innovation. These efforts ensure that regulatory frameworks evolve in tandem with technological advancements, allowing both consumers and financial institutions to adopt digital solutions with confidence. Key Milestones According to Du Plessis, the nation has already achieved several significant milestones that reflect its digital maturity. 'Key milestones include the rise in contactless payments, mainstream adoption of digital wallets, and the launch of innovative smart cards with state-of-the-art designs — like metal and illuminated cards — and functionalities such as biometric payment options,' he says. Biometric technology, in particular, is emerging as a key enabler of secure, frictionless payments. ' Biometric payments readiness is especially high, with 98% of UAE consumers open to using at least one biometric method to pay, and 69% expressing specific interest in fingerprint-based transactions,' Du Plessis adds. Looking ahead, the next wave of innovation will focus on enhancing payment accessibility and experience. Du Plessis outlines the future roadmap: 'The next steps lie in expanding wearable payment technologies and blockchain-based platforms, while ensuring inclusive access across all age and income segments.' As the market matures, specific innovations within the digital payment space are gaining strong traction. QR code payments and Buy Now, Pay Later (BNPL) services are witnessing rapid adoption, especially in dynamic sectors like e-commerce, food & beverage, and urban mobility. 'The UAE consumers are increasingly opting for frictionless checkouts and contactless retail experiences,' Du Plessis observes. 'This is being enabled through wallet integration, tokenisation, and one-click transactions offered by solutions like Tap To Pay.' An Ecosystem Built on Collaboration Unlike fragmented global markets where banks and fintechs often operate in silos, the UAE has created an environment of strategic cooperation. According to Du Plessis, this synergy is driving the nation's fintech revolution. 'In contrast to more fragmented markets, the UAE's ecosystem is uniquely collaborative,' says Du Plessis. 'Fintechs here benefit from regulatory sandboxes, investor access, and a supportive public sector.' This collaborative environment is compelling traditional banks to modernise and innovate at pace. 'Traditional banks are responding by launching digital-first services, while neobanks and tech players are pushing the boundaries of seamless UX,' he adds. The result is a dynamic, healthy competition where innovation is accelerated — but not at the expense of consumer trust. Security as the Cornerstone of Innovation As digital payments become the norm, security has emerged as the foundation upon which user trust is built. In the UAE, where 84% of residents identify online fraud as a primary concern, financial institutions are doubling down on safeguarding every transaction. 'Security is front and center in every payment conversation,' Du Plessis notes. 'Technologies such as chip-level encryption, tokenization, and biometric authentication are now widely adopted to safeguard transactions end to end.' These advanced security layers not only protect against present-day cyber threats but also ensure that user-facing innovation — like seamless mobile payments or biometric card transactions — is meaningful and reliable. The industry's next major frontier in security lies in anticipating and mitigating the threat of quantum computing. As the potential for cryptographic vulnerabilities grows, financial institutions must adopt next-generation security standards to stay ahead. 'With quantum computing advancing, the threat of cryptographic vulnerabilities is no longer theoretical,' Du Plessis warns. 'This is driving a global shift toward post-quantum cryptographic standards and the deployment of next-generation secure chipsets embedded in cards, devices, and payment terminals.' These emerging technologies are designed to resist future quantum attacks and preserve the integrity of financial transactions well into the future. The UAE, with its progressive policies and appetite for innovation, is in a strong position to lead this transformation. 'We expect post-quantum-ready encryption to become a defining benchmark for compliance, trust, and operational resilience — not only for financial institutions, but across the broader payments and digital identity ecosystem. The future of secure payments will depend on the industry's ability to stay ahead of emerging threats by investing in resilient technologies that ensure transactions remain safe, trusted, and future-ready,' Du Plessis adds. While the UAE is clearly embracing digital payments at an unprecedented scale, the future may not completely eliminate cash. Instead, it will shift to a smart-payment-first economy where cash is relegated to niche or legacy use cases. 'The UAE is clearly on a trajectory toward a predominantly cashless economy, but not necessarily a cash-free one,' says Du Plessis. 'Cash might be reserved for specific use cases, while most transactions will be driven by digital channels — powered by smart cards, wearables, mobile wallets, and embedded payment technologies.' Interestingly, despite the rise of digital wallets and contactless solutions, physical payment cards are expected to maintain — and even increase their relevance. 'Physical payment cards will still play a central role, particularly among premium segments where tangibility and brand experience continue to matter,' Du Plessis adds. Shaping the Future of Financial Intelligence The role of AI and machine learning in banking and payments will evolve from operational support to strategic enablers of hyper-personalisation and proactive security. According to Du Plessis, these technologies will 'drive hyper-personalized banking, fraud detection, and predictive risk analysis.' Consumers can expect AI to not only offer tailored financial products based on real-time behaviors and preferences but also act as a frontline defense against increasingly sophisticated fraud threats. 'Blockchain will streamline everything from real-time cross-border payments to digital identity verification,' Du Plessis explains. Tokenised assets are gaining traction as consumers and businesses look for faster, more transparent ways to manage and transfer value. IDEMIA, for instance, is leading the charge with secure hardware wallets like which empower users to manage crypto assets with enhanced security and user control. As the UAE looks ahead, the convergence of AI, blockchain, and advanced payment infrastructure is setting the stage for a resilient financial ecosystem built on intelligence, speed, and trust. 'These technologies will define a new era of secure, intelligent financial infrastructure in the UAE,' Du Plessis affirms.
