Category Archives: Business & Investments

Automibiles & Motoring, Business & Investments

Elite Group Holding and SOUEAST Motor Propel Forward into UAE’s Booming Market Segment with Strategic Partnership

This introduction underscores the UAE as pivotal in SOUEAST Motor’s strategic expansion plan

Dubai, UAE – 12 August 2024 – Elite Group Holding Ltd. and SOUEAST Motor marked an important milestone in their collaborative journey by signing a strategic partnership agreement. This significant partnership formalised on August 7 at the prestigious Bvlgari Yacht Club, celebrated a remarkable milestone for the group and the automotive brand.

SOUEAST Motor’s entry into the UAE with Elite Group Holding is set to introduce a new standard of premium mobility solutions with its “EASE YOUR LIFE” proposition, which prioritises stylish design, comfortable driving, and advanced technology. Featuring the latest powertrains and new energy technology, the vehicles boast high power, an intelligent chassis, and a versatile interior cockpit for superior comfort and adaptability.

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Business & Investments

IGCF 2024 explores forward-thinking perspectives in emerging and evolving economic sectors

The 2-day international event on September 4 -5 will host government officials, economic experts, and decision-makers in a series of discussions to explore economic trends and opportunities

Sharjah, August 11, 2024

Emerging and evolving economic sectors, including metals, adventure, space, and the ‘silver’ economy, will take centre stage at the International Government Communication Forum (IGCF 2024), slated for September 4-5 at Expo Centre Sharjah. The forum will bring together government officials, economic experts, and decision-makers from the public and private sectors to present forward-thinking economic perspectives that will forecast shifts and trends in the global developmental landscape, particularly in the economic sphere.

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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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