Latest news with #StrategicCooperationAgreement
Al Etihad
3 days ago
- Business
- Al Etihad
Presight reports record growth as revenue surpasses Dh1 billion in H1 of 2025
13 Aug 2025 10:11 ABU DHABI (ALETIHAD)Presight AI Holding Plc ('Presight' or 'the Company'; ADX: PRESIGHT), on Wednesday, announced its financial and operational results for the first half of 2025, highlighting strong performance fueled by continued domestic growth and international a press statement, Presight reported Dh1.09 billion in revenue for the first half of 2025, marking an 80.2% increase year-on-year. Organic revenue, excluding the contribution from AIQ, grew by 33.5%. EBITDA rose 59.6% to Dh 245.5 million, while net profit increased 18.8% to Dh 209.7 the second quarter alone, revenue reached Dh 523.9 million, a 53.5% increase compared to Q2 2024, with organic growth accounting for 19.7%. Quarterly EBITDA rose 45.5% year-on-year to Dh 104.5 million, and net profit grew 11.5% to Dh 89.7 million, reflecting the impact of the 15% corporate tax markets contributed 26.8% of Q2 revenue, up significantly from 4.9% in the same period last orders totalling Dh 304 million further strengthened performance, bringing the company's backlog to Dh 3.7 billion, more than triple the level from the previous year. Presight closed the period with Dh 2.0 billion in cash and maintained an unlevered balance sheet, providing ample flexibility to fund product innovation and targeted expansion. Upgraded Outlook and Guidance With the performance in the first half of 2025, together with a robust order backlog and a growing proportion of revenues from multi-year contracts, the company has upgraded its medium-term financial outlook. It now anticipates compound annual growth between 2023 and 2027 as follows:Group Revenue growth of 21% to 27% (previously 19% to 25%).Group EBITDA growth of 17% to 22% (previously 16% to 21%).Group Post-tax Profit growth of 7% to 12%, applying a 15% corporation tax rate (previously 6% to 11%). Strategic and Operational Progress During the second quarter, Presight continued to strengthen its position as the UAE's sovereign artificial intelligence partner of choice and accelerated its overseas expansion the domestic market, new contracts were signed with the UAE National Media Office and the UAE Media Council. The company also signed a Strategic Cooperation Agreement with the Abu Dhabi Department of Energy (DoE) to develop is a world-first, AI-powered energy and water management platform which will revolutionise the operation of the entire energy and utilities ecosystem across the Presight is continuing to drive forward its strategic agenda across key growth regions. In Malaysia, the company announced a landmark agreement set to accelerate Malaysia's digital transformation to support the government's Madani AI initiative. In Uganda, it is preparing for a rollout of a national digital government programme in collaboration with the National Information Technology Authority. The company has also deepened its footprint in Central Asia, launching a new office in Astana and expanding its energy sector partnerships in Kazakhstan through initiatives led by its majority-owned subsidiary, Pramotedham, CEO of Presight, stated: 'Our first-half performance demonstrates that Presight continues to grow both domestically and internationally. Our backlog is three times larger than it was a year ago, and our sovereign partnerships continue to deepen. Our journey as a key AI and digital transformation partner across the UAE federal government and state-owned enterprises continued at pace, with new contract wins and landmark agreements across key growth sectors.'Our international expansion across high-growth markets in the Middle East, Asia and Africa, where we support governments and large enterprises to deploy solutions which optimise public service delivery, drive economic diversification, and enhance national resilience, continues to be a material part of our growth trajectory.'With disciplined execution, new AI platforms coming to market and a deep pool of talent, we are on track to meet our commercial objectives and to compete on a global stage.'Innovation remained central to Presight's strategy during the reporting period. The inaugural cohort of the Presight AI-Startup Accelerator has been announced, enabling early engagement with emerging technologies and strategic growth the close of the reporting period, Presight announced a series of strategic initiatives designed to advance its regional and global Group unveiled its AI-Policing Suite ahead of the closing period and subsequently signed a cooperation agreement with Abu Dhabi Police to deploy these AI-powered law enforcement and smart city technologies as part of efforts to enhance public Group also agreed terms on a groundbreaking joint venture with the Central Bank of the UAE to deliver sovereign, AI-native technology solutions that support a resilient, secure, and future-ready financial market addition, Presight signed a strategic Memorandum of Understanding with Dow Jones to co-develop and commercialise next-generation, AI-driven risk and compliance solutions tailored for global financial institutions, regulators, and sovereign a strong balance sheet and a network of global strategic partners, Presight is in a strong position for continued growth through faster delivery of sovereign AI solutions, stronger client relationships, and lasting value across key markets. Presight's Applied Intelligence solutions stand to benefit from the growing technology collaboration between the UAE and the US, and the UAE's commitment to AI partnerships that accelerate progress for communities worldwide, leveraging Abu Dhabi's advanced digital and physical infrastructure.
Hi Dubai
25-06-2025
- Business
- Hi Dubai
UAE Signs Agreement with Europol to Boost Security Cooperation
The United Arab Emirates has signed a Memorandum of Understanding with Europol to establish a secure communication channel aimed at enhancing cooperation in fighting transnational organised crime. Signed by the UAE's Ministry of Interior and the European Union Agency for Law Enforcement Cooperation, the agreement marks a new phase in the strategic partnership between both sides. It focuses on creating a secure technical infrastructure for exchanging security and police information. The Ministry of Interior described the MoU as a strategic step aligned with the UAE's commitment to building an integrated, tech-driven security framework through international collaboration. It builds on the broader Strategic Cooperation Agreement signed between the UAE and Europol in September 2016. Europol welcomed the development, highlighting the importance of close coordination with global partners to strengthen regional and international security efforts. News Source: Emirates News Agency
Daily Express
19-06-2025
- Business
- Daily Express
Energy Asia 2025 ends with call for urgent regional transition action
Published on: Thursday, June 19, 2025 Published on: Thu, Jun 19, 2025 By: Larry Ralon Text Size: Taufik (right) with Dr Daniel Yergin (middle) and Dr Atul Arya during the closing session of Energy Asia 2025. KUALA LUMPUR: Energy Asia by Petronas and its Knowledge Partner, CERAWeek by S&P Global, concluded on Wednesday with a strong call for urgent, inclusive, and actionable delivery of the energy transition. Over the course of three days, the conference gathered more than 4,000 attendees from 60 countries and 38 industries, including policymakers, financiers, technologists, and energy professionals. Advertisement Government and business leaders acknowledged that, while the region has made significant progress in setting targets and forming partnerships, the focus must now shift decisively towards implementation at speed and scale. Amid intensifying global challenges, leaders reaffirmed Asia's critical role in the energy transition, noting that the region's rising energy demand, economic growth, and development needs require strategies that are locally grounded and prioritise energy access, affordability, and socioeconomic advancement. Transitions in developing nations and emerging economies, however, must remain rooted in access and affordability and cannot come at the expense of energy security and sustainability. Officiated by Prime Minister Datuk Seri Anwar Ibrahim, the conference was themed 'Delivering Asia's Energy Transition' and featured more than 50 strategic dialogues that encouraged pragmatic, multi-stakeholder collaboration with a shared sense of urgency. Advertisement Speaking at the closing ceremony, Petronas President and Group CEO Tan Sri Tengku Muhammad Taufik, who also chairs Energy Asia, said the objective of Energy Asia 2025 is to address the region-specific realities of the energy transition. He noted that discussions over the past three days had surfaced both existing and emerging challenges while underscoring the need to build a resilient energy system. A key highlight of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum—a closed-door gathering of over 30 global CEOs and C-suite leaders from the energy, finance, technology, and professional services sectors. This high-level dialogue resulted in alignment on four priority areas: sharing best practices to build resilient energy systems; enhancing project bankability to unlock capital flows; reducing emissions while delivering social impact; and accelerating innovation and the adoption of decarbonisation technologies. Demonstrating real momentum, Energy Asia 2025 also saw the signing of 14 Memoranda of Understanding (MoUs) and progress on several high-impact initiatives spanning technologies, geographies, and business models. Key announcements included a Strategic Cooperation Agreement and Farm-Out Agreements between Petronas and TotalEnergies to deepen upstream collaboration in Malaysia; a Joint Venture Framework Agreement between Petronas and Eni for regional upstream exploration; and the award of the Temaris Cluster Small Field Asset PSC by Petronas, through Malaysia Petroleum Management (MPM), to Seascape Energy Asia (One) Sdn Bhd. Additional milestones included an LNG Sale and Purchase Agreement between Petronas LNG Ltd. and Commonwealth LNG to strengthen supply diversification via the United States; and an MoU between Petronas and Jera to enhance collaboration across the gas value chain, supporting Japan's energy security and sustainability goals. Energy transition-focused initiatives announced during the event included: The launch of the Blue Carbon Collective by Petronas in collaboration with the Mercedes-AMG Petronas Formula One Team, the University of São Paulo, and Universiti Putra Malaysia to advance mangrove-based carbon capture and storage research. The establishment of the Petronas Energy Transition Academy (P-ETA) to equip the energy workforce with skills for a low-carbon future. The formation of Jules Nautica Sdn Bhd, a joint venture between Petronas CCS Ventures, MISC Berhad, and Mitsui O.S.K. Lines, to own and operate liquefied carbon dioxide (LCO₂) carriers for carbon capture and storage (CCS). Running concurrently with the Executive Conference, the Energy Park welcomed nearly 14,000 visitors who explored exhibitions on innovation, emerging technologies, and solutions presented by Energy Asia's partners and collaborators. Energy Asia aims to propel the region's Net Zero ambitions by convening policymakers, industry leaders, and energy professionals around practical solutions for a just and responsible energy transition. Spanning three days from 16 to 18 June at the Kuala Lumpur Convention Centre, the event featured high-level dialogues and showcases of cutting-edge technologies. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Barnama
17-06-2025
- Business
- Barnama
PETRONAS And TotalEnergies Expand Longstanding Upstream Collaboration
KUALA LUMPUR, June 17 (Bernama) -- PETRONAS and TotalEnergies have signed a Strategic Cooperation Agreement (SCA) and two Farm Out Agreements (FOAs) to broaden their upstream collaboration in Malaysia, while making progress on their international partnership under the Bobara Production Sharing Contract (PSC) in Indonesia. The agreements build on the longstanding partnership between the two companies, with the SCA outlining potential opportunities both internationally and domestically in strategic areas that cover exploration and production, gas and liquefied natural gas (LNG), carbon footprint reduction and cooperation.
