Daily Archives: August 9, 2024

Business & Investments

ADNIC achieves net profit of AED 205.2 million for the first half of 2024

Abu Dhabi, UAE 09August 2024:Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, continues to deliver outstanding performance in 2024, highlighted by solid financial results and successful execution of key strategic growth initiatives.

During this quarter ADNIC has successfully completed the acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company (ASF) in Saudi Arabia.  This move solidifies our position as a leading insurer in the region and reinforces our commitment to delivering exceptional customer service and innovative insurance products across the GCC. We are confident that this acquisition will enable us to offer industry-leading solutions across all major insurance lines.

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Business & Investments

Dubai Investments Q2 2024 Profit increases to AED 289.24 Million

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Dubai, UAE, Aug 9th 2024:Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market (DFM), announced net profit after tax attributable to shareholders of AED 289.24 million for the three-month period ended 30 June 2024, compared to AED 266.03 million during the corresponding period in previous year.

Further, the Group reported a net profit after tax attributable to shareholders of AED 409.20 million for the six-month period ended 30 June 2024, compared to AED 580.48 million during the corresponding period in previous year.

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Business & Investments

Union Coop Reports Financial Performance for H1 2024

Dubai, UAE:

Union Coop has announced its financial results for the first half of 2024, demonstrating a 5% increase in semi-annual revenues compared to the previous year. The cooperative achieved a 32.3% growth in net profits and expanded profit margins across its various sectors.

The cooperative’s Board of Directors has released the semi-annual results following strong performance in both business operations and sales. For the first half of 2024, Union Coop reported profits of AED 200 million, reflecting a 32.3% increase compared to the same period last year. This growth is attributed to strategic initiatives that enhanced profitability and revenue.

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Technologies

UAE-Headquartered Quest Nutra Pharma Digitises Critical Quality Management and Operational Processes with Kissflow

Streamlining more than 30 mission-critical workflows – including those for new product development, market compliance, and corrective action and preventive action – has enhanced the efficiency and accuracy of the company’s operations

Dubai, United Arab Emirates – August, 2024 – Quest Nutra Pharma (Quest), a leading manufacturer of nutraceuticals/pharmaceuticals food supplements, has partnered with Kissflow to streamline and enhance its mission-critical workflows using the vendor’s Low-Code platform. By digitalising over 30 processes, Quest has not only been able to move towards paperless operations, but also managed to automate large portions of its operations, yielding efficiencies and accuracies, translating to enhanced quality assurance, market compliance, deviation and change control, and more.

Prasanna Rajendran, Vice President – EMEA, Kissflow

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