Latest Threads on News from companies
Threads on regulatory news from companies
Air Arabia announced a record pre-tax profit of AED 1.6 billion for the year ending December 31, 2024, a 4% increase from the previous year. The airline's revenue grew by 11% to AED 6.63 billion, and passenger numbers rose by 12% to 18.8 million. The fourth quarter saw a net profit increase of 56% to AED 351 million, with quarterly revenue exceeding AED 1.65 billion. The Board of Directors proposed a cash dividend of 25 fils per share. In 2024, Air Arabia expanded its network by adding 31 new routes, leading to a 13% increase in operational capacity and a 2% rise in seat load factor to 82%.
On February 13, 2025, the Board of Directors of Air Arabia held a meeting at 3:00 PM. During the meeting, they approved the financial results for 2024, coordinated with the relevant authority to call for an Annual General Meeting (AGM), and proposed a cash dividend distribution of 25% of the capital, equivalent to 25 Fils per share.
Dubai Investments announced that its subsidiaries, GlobalPharma and Emirates Float Glass (EFG), have signed Memorandums of Understanding (MOUs) during a meeting in Doha, Qatar, aimed at promoting industrial growth and sustainable development. The agreements, supported by the Ministry of Industry and Advanced Technology, involve collaboration with various regional partners. GlobalPharma signed an MOU with Morocco's Zenith Pharma to enhance pharmaceutical production, focusing on critical medications, with an investment of over $50 million. Emirates Float Glass signed an MOU to supply float glass to a regional company, enhancing cooperation in the glass manufacturing sector. GlobalPharma was recognized for its contributions to pharmaceutical research and development.
On February 11, 2025, the Board of Directors of Aramex PJSC met to discuss a voluntary conditional cash offer from Q Logistics Holding LLC to acquire the shares of Aramex not already held by Abu Dhabi Ports Company PJSC. HSBC, serving as Aramex's independent financial advisor, provided a fairness opinion on the offer. The Board resolved to recommend this offer to Aramex's shareholders. A shareholders' circular is enclosed, containing the Board's recommendation and the fairness opinion, in compliance with the Securities and Commodities Authority's rules on acquisitions and mergers.
Amlak Finance has scheduled a meeting on Tuesday, February 18, 2025, at 3:00 PM. The agenda includes discussing the possibility of calling a shareholders' meeting to approve the sale of certain investment properties, including plots in Ras Al Khor, and covering normal company activities and updates. The authorized signatory is Lama Takieddin, who serves as the Head of Corporate Governance and Company Secretary.