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Waha Capital PJSC, an Abu Dhabi-listed investment management company, has refinanced its revolving credit facility with the support of four local and regional banks. The new facility is valued at US$400 million with a 3-year term, and it can be increased to US$500 million with the maturity date extendable by up to two years. The refinancing was met with strong interest and improved terms, indicative of the lenders' confidence in Waha Capital. The banks involved are Abu Dhabi Commercial Bank, Emirates Islamic Bank, Commercial Bank of Dubai, and Gulf International Bank. Waha Capital's Managing Director, Mohamed Hussain Al Nowais, highlighted the company's solid financial health and strong business performance as key factors in securing the enhanced terms. In the first half of 2024, Waha Capital achieved AED 205 million in net profit attributable to shareholders, a 21% increase year-on-year, driven by strong performance across its business segments.

ADNOC Gas announced a record net income of $1.19 billion for the second quarter of 2024, marking a 21% year-on-year increase. The company's revenue for the quarter was $6.076 billion, driven by stronger domestic gas growth due to increased population and industrial activity in the UAE. EBITDA grew by 18% year-on-year to $2.09 billion, with an EBITDA margin of 34%. The company approved an interim dividend of $1.706 billion, up 5% from 2023, with a total of $3.41 billion to be distributed for the full year. ADNOC Gas fulfills over 60% of the UAE's gas demand and supports the growth of key industrial sectors, including petrochemicals.