Latest Threads

Noatum, an AD Ports Group company, has acquired a majority stake in Safina B.V., a leading maritime agency and cargo services provider in Egypt and the Middle East. This acquisition, expected to close in Q3 2024, is a strategic move to expand Noatum Maritime's presence in the region. Safina, with its extensive network and expertise, will now have access to Noatum's international network, allowing it to serve a broader range of industries and strengthen its local presence. The acquisition aligns with AD Ports Group's broader strategy in Egypt, which includes recent agreements for managing various ports. Terry Gidlow, CEO of Noatum Maritime, highlighted that this move enhances their service offerings and supports sustainable growth by leveraging Safina's experience and local expertise.

Dubai Islamic Insurance & Reinsurance Company (AMAN) (P.J.S.C) has released its unaudited condensed interim consolidated financial information for the six-month period ending on June 30, 2024.

The Dubai Financial Market (DFM) has issued the expiry settlement prices for its equity futures contracts expiring in August 2024. The prices are listed for various contract series, including AIRARB, ANSRI, ARMX, DEWA, DEYAAR, DFMGI, DFM, DIB, DIC, DU, EMAAR, EMPWR, EMRDEV, ENBD, GFH, SALIK, and SHUAA, with settlement prices ranging from 0.214 to 19.750 AED. This announcement is available on the DFM website. The information is subject to change and is not a substitute for the official DFM Regulated Derivative Contract Trading Regulation.

Dubai Financial Market (DFM) and Shenzhen Stock Exchange (SZSE) have signed a Memorandum of Understanding (MoU) to enhance cross-border financial collaboration, aiming to improve capital market connectivity and investment opportunities between China and the UAE. The MoU was signed by representatives from both exchanges and witnessed by high-ranking officials. The partnership will involve joint roadshows, seminars, research initiatives, and training programs to promote capital market development and cross-border financing. Additionally, the collaboration will explore dual-listing, ETFs, mutual display of indices, and fixed-income products, subject to regulatory approvals. The strategic partnership aims to exchange experience and insights in market and product development, regulatory and ESG practices, and IT capacity building, thereby fostering deeper future collaboration. Representatives from both exchanges highlighted the MoU as a significant step towards enriching cross-border investment and financing products and strengthening the capital markets' capacity to serve the real economies of both countries.

Watania International Holding PJSC (formerly Dar Al Takaful PJSC) is an investment holding company publicly traded on the Dubai Financial Market under the ticker DFM: WATANIA. As of June 30, 2024, the company has an authorized capital of 260 million AED and 260 million issued shares. The portfolio is broken down into various types of Takaful (insurance) contracts and asset types, with significant portions in Wakala deposits, equities, real estate, and Sukuk. Key shareholders include Mohammed Qusai Mohammed Alghussein, Ali Saeed Sultan Bin Harmal AlDhaheri, MB UAE Investments LLC, Magna Investment LLC, and Mohamed Sultan Mohamed Hashel Alkhyeli. The performance summary for H1 2024 shows liabilities and equity distribution, with 71% in total equity and 16% in other liabilities. Assets are divided among investment assets, cash and bank balances, receivables, Takaful assets, and PPE & intangible assets. Takaful revenue decreased from AED 457 million in H1 2023 to AED 389 million in H1 2024. Investment income also saw a decline from AED 22 million to AED 12 million in the same period. The profit/loss figures are not specified. The share volume and pricing fluctuated throughout the first half of 2024.