Global trade enabler DP World today announces strong financial results for the year ended 31 December 2018. On a reported basis, revenue grew 19.8% and adjusted EBITDA increased 13.7% with adjusted EBITDA margin of 49.7%, delivering profit attributable to owners of the Company, before separately disclosed items, of $1,270 million, up 5.1%, and EPS of 153.0 US cents. On a like-for-like basis, revenue grew 4.2%, adjusted EBITDA increased by 6.6% with adjusted EBITDA margin of 54.1%, and earnings attributable to owners of the Company increased 7.6%.
Author: Kasun Illankoon
Dubai Holding has commenced major renovation works at Souk Madinat Jumeirah, its popular Arabian-inspired shopping and leisure destination in the heart of the Madinat Jumeirah Resort. Set to be completed over the next three months, the enhancements work, which are part of a wider plan for the destination, will create a more convenient and seamless visitor experience. Conducted in collaboration with the Roads and Transport Authority, and to be executed without impacting the access to the surrounding hotels or to the events taking place at Madinat Jumeirah, the renovations cover the interior areas and the main entrance, including the entrance…
KONE, a global leader in the elevator and escalator industry, will equip Reem Mall, a world-class retail, leisure, dining and entertainment destination currently being built on Reem Island on the northeast coast of Abu Dhabi in the United Arab Emirates. Reem Island is a planned residential and commercial community commonly referred to as “the new Abu Dhabi”. The island, adjacent to Abu Dhabi’s dense Central Business District and linked to the mainland by 6 bridges, is expected to be home to 200,000 people once the development is complete.
Emirates SkyCargo is now the second largest air cargo operator in the world, operating a fleet of freighters to over 40 destinations across six continents, next to its 260 passenger aircraft moving passengers and cargo between 158 airports. In total the company carried 2.6 million tonnes of cargo in 2017/18.
With the participation of many international Airlines, aviation companies & governmental firms, Saudi Airlines Cargo Company participated under the umbrella of Saudi Arabian Airlines (Saudia) alongside the other subsidiaries in the first Saudi International Airshow, taking place in Al-Thumamah Airport in Riyadh, during the period March 12-14, 2019.
Dubai Industrial Park, one of the largest industrial hubs in the region and a member of TECOM Group, hosted a reception to mark the opening of the new corporate headquarters of the UAE-based Al Madina Group. The new 400,000 square feet complex, which also houses Al Madina Distribution Centre that services the whole of the UAE, and its industrial manufacturer of bakery and ready-to-eat products Oasis Cuisines, commenced operations following the ceremony.
Arada is introducing a new investment opportunity to the Gulf by announcing the launch of Nest, the UAE’s premier integrated student accommodation complex, which will be based at the heart of the developer’s record-breaking lifestyle megaproject, Aljada. The move will enable individual real estate investors to purchase directly in the student housing segment in the Gulf for the first time, an area that has seen major interest in traditional markets such as the United States and Europe.
As part of its efforts to increase engagement with startups and small and medium enterprises (SMEs) amid rising trends on the ‘gig economy’ worldwide, Dubai South, Dubai’s integrated city and flagship urban project, continues to build new initiatives that support businesses in Dubai to maintain its global attraction as a magnet for foreign investors. The emirate is strategically positioned in key sectors surrounding innovation and digital technology such as e-commerce, AI, blockchain and fintech, following 26 per cent increase of foreign direct investments (FDI) during the first half of 2018, reaching AED 17.7 billion. Dubai South’s ongoing initiatives are further…
We caught up with, Asif Khan, General Manager GENAVCO, and Saif Khan, Senior Sales Manager GENAVCO, who give us an insight on how the company’s road construction equipment has performed GENAVCO was founded in 1967 by His Excellency Juma Al Majid, following the establishment of the Juma Al Majid Group in 1950. It is one of the leading companies in the UAE for supplying commercial vehicles, road construction equipment, quarry, and mining equipment, material handling equipment, lubricants, and other industrial/construction equipment, representing the world’s leading brands from the USA, Japan, Germany, UK, and France. The group overall has a turnover of…
His Excellency (H.E.) Dr Nabel Bin Mohammed Al Amudi, Minister of Transport of the Kingdom of Saudi Arabia (KSA), inaugurated the second Saudi Maritime Congress with a Keynote Ministerial Opening Address to highlight the importance of the show, the growing KSA economy and the goals of Vision 2030 to drive sustainable growth and development in the nation.
The opening ceremony was attended by high level government officials and key players in the maritime and logistics industry, with H.R.H. Princess Sarah Al Saud, Director of Maritime Business Development, International Forum for Maritime Transport, Arab Academy for Science, Technology and Maritime Transport and Eng. Abdullah Aldubaikhi, Chief Executive Officer of Bahri, also addressing the delegates and attendees about the industry in the second session of the day.