Category Archives: Business & Investments

Business & Investments

Armstrong Fluid Technology Announces New Sales Director for Türkiye, Middle East & Africa

Dubai, UAE, February 11th, 2025: Armstrong Fluid Technology, a leading manufacturer of intelligent flow equipment, including pumps, valves, heat exchangers and control solutions, has appointed Qusai Abuabed as Sales Director for Türkiye, Middle East & Africa. He succeeds Kevin Laidler, who will be returning to Toronto to take on his new role as Global Director, Specifications, effective 1st March. Armstrong extends their gratitude to Kevin for his impressive 35 years in the HVAC market, including 30 years with Armstrong. Over the last 8 years, Kevin’s leadership in the Middle East and Africa has been instrumental in strengthening the company’s presence in the region.

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Business & Investments

Qashio and Myne Partner to Transform Financial Wellness for Companies and Employees

Dubai, UAE, 11th February 2025 – Qashio, the UAE’s leading spend management platform, has joined forces with Myne, an innovative wealth management app, to redefine financial wellness for businesses and employees.

This groundbreaking partnership bridges the gap between business financial tools and personal wealth management, empowering employees with enhanced financial visibility and planning tools. With Digital Dubai’s “Dubai Cashless Strategy” aiming for 90% of all transactions to be cashless by 2026, the urgency for digital solutions has never been greater. This initiative is expected to boost economic growth by over AED 8 billion annually through fintech innovation, positioning collaborations like Qashio and Myne at the forefront of this transformative movement. Together, they are setting a new standard for financial well-being across the corporate ecosystem.

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Business & Investments

H.H Sheikh Ahmed bin Saeed Al Maktoum opened the largest edition of MRO Middle East and AIME

H.H Sheikh Ahmed bin Saeed Al Maktoum opened the largest edition of MRO Middle East and AIME

  • Day one showcased growth across regional aerospace aftermarket, with record crowds and key sessions covering capacity challenges, digital readiness, tech personalisation, AI, and more
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DUBAI, United Arab Emirates – 11 February 2025 – H.H. Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group, opened MRO Middle East and Aircraft Interiors Middle East (AIME) 2025, marking the region’s largest event of its kind.

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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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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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