Day: March 22, 2023

DUBAI, 22nd March, 2023 (WAM) — DUBUY.com has welcomed the UAE’s Al Naboodah Group onto its wholesale e-commerce platform to help accelerate its growth, by providing instant access to new markets via its online business-to-business marketplace. l Naboodah Group will partner with DP World’s innovative and trusted platform DUBUY.com to sell its diverse portfolio of brands. By providing end-to-end supply chain solutions, DUBUY.com will provide a gateway for the group of companies to enter new international markets. The product-led parts of Al Naboodah Group, such as the electrical, agriculture and auto-parts divisions, will see benefits in the partnership and thanks to the collaboration with DUBUY.com, customers registered on the platform will be able to buy wholesale products across a variety of categories from Al Naboodah Group at the click of a button. It will also provide a secure and reliable supply chain for getting the goods from A to B, through DP World’s global ports and logistics network. Commenting on the partnership, Mahmood Al Bastaki, COO of Digital Trade Solutions at DP World, said, “We are proud to welcome Al Naboodah Group to DUBUY.com, and we are looking forward to building a long term mutually beneficial partnership here. By being part of the platform, Al Naboodah Group will enjoy greater visibility and access to markets such as Africa to accelerate its growth. It will also enable them to trade using a unique combination of advanced technology and DP World physical infrastructure which includes reliable fulfilment, secure financial transactions and the safe movement of goods. “DUBUY.com has been operating as a trusted online marketplace for buyers and sellers since November 2021, and in this relatively short time, we have accrued more than 10,000 registered customers, 2,000 registered vendors, and have facilitated the trade of more than 1.4 million products every day. This latest news is a testament to the major growth in e-commerce solutions, and we are proud at DP World to be at the forefront of digital innovation.” This fully integrated e-commerce platform brings buyers and sellers together with a single window for transactions, payment and delivery; cross-border business-to-business (B2B) settlement, as well as domestic B2B and business-to-consumer (B2C) capabilities. Al Naboodah Group joins a diverse range of businesses already trading on the e-commerce platform. Swaidan Saeed Juma Al Naboodah, Chairman of Al Naboodah Commercial Group, said, “As a leading Group of companies with a strong heritage in the UAE, we are honoured to start the cooperation with the e-commerce platform DUBUY.com by DP World. We are proud to strengthen our strategic partnership with DP World, by growing the strong roots we have cemented in the UAE, by expanding into new markets. The technology and the scale that DP World provides via DUBUY.com is unprecedented, and we are looking forward to the mutual rewards both parties will benefit from when it comes to providing greater breadth of products for buyers across muti-territories at the click of a button. We will enjoy greater access to key markets such as Africa and we are proud to be able to scale our operations with a trusted platform.”

Source: Emirates News Agency

ABU DHABI, 22nd March, 2023 (WAM) — Shareholders of Waha Capital has announced approving a cash dividend of 8 fils per share for the 2022 financial year at the company’s annual general meeting (AGM), which was held on 21st March 2023. t the AGM, shareholders also authorised the company to contribute up to 1% of its net profit for the financial year ended 31st December 2022 towards CSR initiatives. Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented, “Following the results achieved in 2022, and as part of our commitment to deliver value to investors, the Board proposed a dividend of 8 fils per share, which shareholders have now approved.” “While we continue to navigate a challenging macroeconomic landscape, we will remain prudent and focused on steering Waha Capital through the next phase of its growth and development. Our Board of Directors fully supports Waha Capital’s growth strategy, which prioritises investment opportunities that can generate compelling returns for shareholders.” Waha Capital reported a net profit of AED449 million in 2022. The Public Markets business continued to generate strong revenues as its flagship equity and credit funds outperformed benchmarks amidst challenging market conditions. The Private Investments business recorded robust returns from its Global opportunities investment strategy and through the monetisation of mature assets. Waha Land achieved stable rental returns and agreed on a landmark transaction to divest assets at its ALMARKAZ light industrial development site. Esraa Esmail/ Ahlam Almazrooi

Source: Emirates News Agency

ABU DHABI, 22nd March, 2023 (WAM) — Abu Dhabi National Insurance Company (ADNIC) has approved the distribution of 40% cash dividends (AED0.40 per share, implying total cash dividends of AED228 million) for the financial year ended 31st December 2022, during its Annual General Meeting (AGM) today. Shareholders discussed and approved all items on the agenda for the AGM, including ADNIC’s financial statements for the year ended 31st December 2022. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ADNIC, said, “We are pleased to announce cash dividends totalling AED228 million for the year 2022, reflecting our unwavering commitment to delivering consistent returns on their investments. Our robust financial performance is a direct result of our evolving business strategy, the dedication of our employees and the continued trust of our shareholders.” He added, “The year 2022 marked a new milestone for our company. We achieved remarkable growth in our gross written premiums by 20.1% to reach AED5.13 billion. Moving forward, we will continue to expand our market footprint and explore new business opportunities that lead to further growth.” Charalampos Mylonas, CEO of ADNIC, said that strong operating performance despite an increasingly challenging competitive landscape yielded a net profit of AED377.9 million. This reinforces ADNIC’s long-term commitment to continue delivering superior value to customers and shareholders. He added, “We remain dedicated to supporting various communities across the UAE through multiple initiatives and are committed to supporting the national agenda in promoting a more sustainable future during the ‘Year of Sustainability’.” hlam Almazrooi/ Rola AlGhoul

Source: Emirates News Agency

ANKARA, 22nd March, 2023 (WAM) — The UAE Joint Operations Command of the Ministry of Defence in cooperation with the “Chivalrous Knight2” operation began distributing 200 tons of dates to approximately 11 earthquake-affected areas in several Turkish villages and cities. The initiative reflects the wise leadership’s keenness to provide assistance to affected families and alleviate their suffering ahead of the Holy Month of Ramadan. The dates will be distributed to eligible groups based on their humanitarian and economic conditions. The Joint Operations Command continues to implement the recovery and rehabilitation stage, following its success in achieving the rapid response phase within the “Chivalrous Knight2” operation. Rola AlGhoul

Source: Emirates News Agency

DUBAI, 21st March, 2023 (WAM) — Dubai real estate market recorded 434 sales transactions worth AED1.83 billion, in addition to 86 mortgage deals of AED426.46 million, and 139 gift deals amounting to AED123.6 million on Tuesday, data released by Dubai’s Land Department (DLD) showed. The sales included 395 villas and apartments worth AED944.57 million, and 37 land plots worth AED889.15 million. The mortgages included 20 plots of land worth AED266.4 million and 66 villas and apartments worth AED160.06 million, bringing the total realty transactions of today to over AED2.3 billion. Hatem Mohamed

Source: Emirates News Agency