Latest news with #Dhs335
Gulf Today
30-07-2025
- Health
- Gulf Today
'I listen to people's problems and guide bodies to solve them,' says Sheikh Sultan
His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member Ruler of Sharjah, said, "People have needs, and I listen to the issues raised in the programme. I then communicate with government departments to resolve them, and based on this, guidance is provided." Sheikh Sultan made the statement on Direct Line. Recently, Sheikh Sultan directed the Sharjah Health Authority to continue the treatment of the father of 'Umm Mohammed,' a follower of the 'Direct Line' programme broadcast by the Sharjah Broadcasting Authority, at Burjeel Hospital in Abu Dhabi, with Sheikh Sultan's office covering the treatment costs, regardless of insurance coverage. Dr Abdul Aziz Al Muhairi, Chairman of the Sharjah Health Authority, stated during the programme hosted by Mohammed Al Raeesi that Sheikh Sultan listened to the message sent by 'Umm Mohammed,' in which she appealed for her father's continued treatment at the hospital, where he has been for a year and five months. She noted that the insurance company had stopped covering the treatment expenses. D. Al Muhairi added Sheikh Sultan directed the authority to take the necessary steps to ensure the father's continued treatment at Burjeel Hospital or transfer him to the University Hospital in Sharjah if the family prefers. Accordingly, Burjeel Hospital was notified that the office of His Highness the Ruler of Sharjah will cover the treatment costs for the case. Sheikh Sultan has approved the allocation of plots of land to citizens in the Al Haray area of Khorfakkan. This includes 180 residential plots, 450 industrial plots and 60 commercial plots. Work is underway to level the plots so they can be handed over to eligible beneficiaries within two months. A park will also be established in the area. This was announced by Ayman Rashid Al Naqbi, Director of the Department of Planning and Survey-Khorfakkan Branch, during a conversation with the Direct Line programme. Last week, Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, announced a miracle road above the peaks of mountains in Khorfakkan. 'We will build a road above the peaks and foothills of mountains, reaching Khorfakkan. The road will be a wonder like no other, and driving on it will be a true pleasure. Surrounded by trees, plants, waterways and beautiful homes, the road will ascend from the Ghazir Tunnel to reach the highest mountain peak in Khorfakkan, at an altitude of 1,100 metres above sea level,' Sheikh Sultan said in exclusive statements to the Direct Line programme. The Ruler of Sharjah also approved a new batch of housing support beneficiaries in the emirate of Sharjah, allocated for urgent cases, with a budget of Dhs335 million. A total of 431 families will benefit, including 133 families currently living in rented accommodation, 201 families residing in overcrowded homes with relatives, 61 families living in inherited houses, and 36 families in old and structurally unfit homes. All these applications fall under the grant category, and beneficiaries will receive ready-built government housing. The approval was announced by Khalid bin Butti Al Muhairi, Chairman of the Sharjah Department of Housing, during a phone-in segment on the 'Direct Line' programme, broadcast on Sharjah Broadcasting Authority.
Gulf Today
27-01-2025
- Business
- Gulf Today
ADCB aims to double net profit to Dhs20 billion within five years
On the year of its 40th anniversary, Abu Dhabi Commercial Bank ('ADCB') has embarked on a visionary growth strategy, aligning with the UAE's progressive economic trajectory and contributing to the country's position as a leading global financial powerhouse. The strategy charts a clear blueprint to align with the country's ambitions through a substantial increase in scale and reach. Setting out the Bank's headline targets under the new strategy, Ala'a Eraiqat, ADCB Group Chief Executive Officer, said: 'ADCB has come a long way since 2020 under the stewardship of its Board. As the bank continues on this journey, and in order to match the scale of the UAE's ambition, it is expanding rapidly and setting clear and accountable objectives to create significant value for the shareholders. Through sustained high velocity of growth, ADCB aims to achieve the following targets, rewarding investors through both growth and income: • Doubling net profit to Dhs20 billion within the next five years, while aiming to achieve an annual growth rate of circa 20% • Increasing year-on-year paid-out dividends over the same period, whereby ADCB aims to increase its total targeted dividend payout to approximately Dhs25 billion over the next five-years, up 50% compared to the total dividend payout in the preceding five-year period* • Delivering annual Return on Equity exceeding 15% each year, while maintaining healthy regulatory ratios and an adequate capital position to fuel future growth A detailed strategy blueprint has been approved by the Board, laying out a clear way forward on how to achieve this ambition. As a progressive financial institution, ADCB will accelerate deployment of digital and AI technology to elevate customer experience, enhance risk management and boost productivity while empowering UAE nationals to lead the transformation of the banking industry. ADCB has delivered a total cumulative shareholder return of 75% since 2020. For the 2024 finanical year, the Board has recommended a cash dividend of Dhs0.59 per share, translating to a dividend yield of 5.7%, based on ADCB's closing share price as of Dec.31, 2024. Khaldoon Khalifa Al Mubarak, Chairman of ADCB's Board of Directors, commented: 'The Board of Directors has endorsed ADCB's ambitious strategy expressing their confidence in its successful implementation. ADCB's management team, with the Board's active and constructive oversight, has a proven track record as demonstrated by the fulfillment of the previous strategy well ahead of its projected timeframe. The Bank's ambition continues to be forward looking, and attuned to the pace and promise of the Nation's next phase of economic transformation. Our focus on rewarding the shareholders remains integral to our new strategy, ensuring that ADCB creates enduring value for all who place their trust in us.' ADCB is a trusted and pivotal financial partner in the UAE's reimagined future as the country targets Dhs335 billion in additional growth from AI transformation and Dhs1.3 trillion in foreign direct investment by 2031, while tripling its investment in clean and renewable energy by 2030. *This statement represents a forward-looking projection and is subject to necessary approvals, including but not limited to Board, regulatory, and shareholder approvals
