Daily Archives: February 10, 2025

Business & Investments

du reports its Q4 and FY 2024 results

Exceptional performance with net profit up 49.1% to a record AED 2.5 billion

Historical annual dividend of 54 fils per share, a 59% increase y-o-y

Dubai, UAE. 10 February 2024 – Emirates Integrated Telecommunications Company PJSC (du) announced its financial results for the fourth quarter and full year of 2024. The exceptional full year results reflect the strong financial performance throughout the year and the success of our strategic initiatives.

The 2024 performance exceeded the guidance for the year as revenues grew by 7.3% and EBITDA margin reached 44.2%, expanding by 1.7 percentage points with EBITDA increasing by 11.6%. Our net profit growth of 49.1%, reaching a record AED 2.5 billion, underscores our ability to drive both top-line expansion and bottom-line improvement. Our strong financial performance and robust balance sheet enabled the Board to recommend distributing 34 fils per share as the final dividend for 2024, taking our 2024 dividend to 54 fils per share, the highest dividend in the history of du and the maximum amount of dividends per share allowed by our dividend policy.

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Technologies

Grand Stores acquires Hot Cold Studio expanding its presence in the UAE’s digital imaging industry

Dubai – February 10, 2025: Grand Stores, the UAE’s largest distributor and retailer of professional imaging products, has announced its acquisition of Hot Cold Studio, a renowned photographic equipment and studio rental company based in Dubai, further strengthening its position in the digital imaging industry. This strategic acquisition is a significant step in Grand Stores’ long-term vision to further expand and solidify its presence within the imaging industry in the UAE and across the Middle East.

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Featured

ne’ma and Taste of Dubai Partner to Expand Food Waste Reduction Efforts at Large-Scale Festivals in the Region

  • Waste reduction efforts at Taste of Abu Dhabi diverted 310kg of food waste, prevented 775kg of CO2 emissions, and created 62kg of compost

Dubai, UAE, February 10, 2025 – ne’ma, the National Food Loss and Waste Initiative, and Taste of Dubai are collaborating to expand efforts in food waste reduction in the UAE’s event scene. Building on the success of their first partnership on Taste of Abu Dhabi 2024, ne’ma helped divert 310 kilograms of food waste from landfills, prevented 775 kilograms of CO2e greenhouse gas emissions, and created 62 kilograms of compost; this collaboration will bring impactful sustainability initiatives to one of Dubai’s most anticipated culinary festivals, and set a precedent for major events and festivals in the region.

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Shopping & Promotions

Line Investments & Property Launch New LAKA Gift Card Powered by VISA

Combining flexible redemption, personalized gift-giving, and security across 19 malls

Abu Dhabi, UAE — Line Investments & Property SP LLC, the shopping mall division of Lulu International Holdings, today unveiled the LAKA Gift Card, a groundbreaking gifting solution now accessible across its 19 premier Line Investments malls in UAE.

Developed in collaboration with regional fintech leaders Giftstarr and NymCard. The card is powered by VISA’s secure infrastructure. The LAKA Gift Card introduces the GCC’s first integration of QR-enabled personalized video messaging, enhancing retail gifting through unmatched convenience and emotional resonance.

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Business & Investments

Breakbulk Middle East 2025 Opens with Record Attendance and Strong Industry Engagement

Dubai, UAE – February 10, 2025 – Thousands of project cargo professionals gathered today at Dubai World Trade Centre for the opening of Breakbulk Middle East 2025, marking the region’s largest industry event to date. With business decision-makers representing every sector of the supply chain, the event set the stage for two days of high-level discussions, networking, and deal-making.

The event was officially inaugurated by Her Excellency Eng. Hessa Ahmed Al Malek, Minister Advisor for Maritime Affairs at the Ministry of Energy and Infrastructure, who welcomed attendees and reaffirmed the UAE’s commitment to strengthening global trade. “The UAE remains committed to strengthening its position as a global trade hub by fostering collaboration, investing in infrastructure, and embracing innovation,” she said. “Breakbulk Middle East plays a critical role in advancing these efforts, bringing together key players to drive the industry forward.”

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