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DP World posts 26% revenue growth

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DP World Limited announced strong financial results for the year 2021, achieving a revenue growth of 26.3 per cent to US$10,778 million and adjusted EBITDA growth of 15.3 per cent to US$3,828 million, with adjusted EBITDA margin of 35.5 per cent.

The revenue increase from US$2,245 million to US$10,778 million is supported by acquisitions and new concessions including Angola, Unico and Transworld.

Like-for-like revenue rose by 11.7 per cent with like-for-like containerised revenue up 14.2 per cent driven by volume growth, while containerised revenue growth is higher than volume growth mainly due to higher storage and reefer monitoring revenue.

Like-for-like non containerised revenue grew 9.5 per cent with a strong performance from the Feedering business.

Cash from operating activities increased by 27.3 per cent to a record US$3,692 million in 2021 (US$2,901 million in 2020), while leverage (net debt to adjusted EBITDA) stood at 3.7 times (Pre-IFRS16) despite higher net debt of US$12.2bn (US$11.0bn 2020). On a post-IFRS16 basis, net leverage stood at 4.2 times compared to 4.3 times at FY2020.

The company recorded capital expenditure of US$1,393 million (US$1,076 million in 2020) invested across the existing portfolio.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said, “We are delighted to report these strong set of results with adjusted EBITDA growing by US$0.5 billion to a new record of US$3.8 billion. Importantly, growth was broad based across our terminals and logistics assets as we begin to drive synergies across our portfolio. This significant growth once again demonstrates that our strategy to deliver integrated supply chain solutions will drive sustainable long-term returns.”

Business

UAE firms face fines from July for missing mid-year Emiratisation target

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Private sector companies in the UAE with 50 or more employees have until June 30, 2025 to meet their Emiratisation target for the first half of the year, or face financial penalties starting in July, the Ministry of Human Resources and Emiratisation (MoHRE) has warned.

What’s required?

Companies must increase the number of Emiratis in skilled jobs by at least 1% relative to their current skilled workforce, while maintaining any previous Emiratisation levels already achieved.

What happens if they don’t?

Failure to meet the target will result in mandatory financial contributions (effectively fines) that will be collected starting July 2025. The exact penalty depends on the gap in compliance.

MoHRE urges action and reporting

MoHRE is also encouraging Emirati citizens to report non-compliant companies or unethical hiring practices. Reports can be made through:

  • Call centre: 600590000
  • MoHRE app or website

Benefits for compliant firms

Companies meeting or exceeding targets may qualify for:

  • Up to 80% discounts on MoHRE service fees
  • Priority in government procurement contracts
  • Membership in the Tawteen Partners Club
    These benefits are part of the Nafis programme, which also connects employers with a large pool of qualified Emirati candidates.

Progress so far

As of May 2025, more than 141,000 Emiratis were working in the private sector across 28,000 companies, a record high, according to MoHRE.

The Ministry said it remains confident in the private sector’s commitment to Emiratisation and praised companies already contributing to the national strategy aimed at boosting economic growth and workforce diversity.

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Glam Crown Dubai debuts to celebrate all forms of beauty

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In a city renowned for redefining opulence alongside originality, a Dubai-based socialite and former pageant winner is preparing to break new ground with The Glam Crown – an upcoming fashion show and beauty pageant that promises more than just sparkle. Scheduled for November 15 later this year in Dubai, the event – a first-of-ots-kind platform – aims to blend glamour with grit by spotlighting diversity, confidence, and self-expression across all ages and abilities.

“This isn’t just about crowns and catwalks,” says Piyali Chatterjee, crowned Mrs. Elegant UAE 2021 and founder of Artisan Beautique that’s behind the event. A respected beautician, entrepreneur, and former educator of children with special needs, Chatterjee is using her platform to challenge traditional beauty norms. “It’s about showing that beauty doesn’t come in one shape, shade, or size. Every woman, every child, every participant has something uniquely powerful – and beautiful – to offer.”

A platform for all walks of life

What sets The Glam Crown apart is its commitment to representation. The event will feature a special segment for children of determination aged as young as three to 12, giving them the chance to shine on a professional runway – complete with styling, gentle makeovers, and a magical stage experience.

Adults will participate in categories such as Mr, Miss, and Mrs Glam Icon UAE, with curated designer wear, grooming sessions, ramp walk training, and wellness consultations. A parallel fashion showcase for teens and adults includes styling support and exposure to leading local photographers and influencers.

The event will also welcome plus-size contestants, new mothers, and individuals who often find themselves excluded from mainstream beauty narratives. “Dubai is a city that embraces difference,” Chatterjee notes. “We’re just reflecting that spirit on our runway.”

Beyond the mirror: health, wellness, and empowerment

This isn’t a typical pageant. Alongside the fashion and festivities, The Glam Crown includes interactive sessions with a certified aesthetic doctor, gynaecologist, fitness coach, and professional beautician. “These sessions aim to promote a holistic understanding of beauty – rooted in confidence, hygiene, and well-being,” says Chatterjee explaining how the fashion show for teens and adults will include personalised ramp walk training sessions, designer stage wear, styling and grooming tips from seasoned beauty experts.  

Meanwhile, the show for young children of determination – open to anyone between three and 12 – will be offered free of charge. “It is a heart-warming celebration of joy and self-expression. Participants enjoy fun walk training, a gentle, skin-safe mini makeover, a designer outfit for the ramp, and a magical stage experience, complete with professional photos and delightful surprises,” adds the Indian expat who’s lived in Dubai for over a decade now.

With over 300 guests anticipated and growing buzz across the region, the event is set to unite emerging designers, aspiring models, and influential digital creators for an unforgettable celebration of fashion, empowerment, and community.

For Chatterjee, who manages two thriving salons in the UAE and continues to mentor women in beauty and confidence, The Glam Crown is a culmination of years of experience—and a bold step forward. “This is not just a show – it’s a movement,” she says. “If even one child of determination walks off that ramp feeling proud, or one woman finds her voice through this platform, we’ve done something meaningful.”


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Real estate

Dubai sets global benchmark with instant sell-out of tokenised real estate

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In a landmark moment for Dubai’s property sector, the Dubai Land Department has announced that its second tokenised real estate project on the ‘PRYPCO Mint’ platform was fully funded in just one minute and 58 seconds.

The record-breaking success saw 149 investors from 35 nationalities participate, reflecting the rising global interest in Dubai’s innovative approach to digital real estate ownership.

The overwhelming demand has pushed the investor waiting list to over 10,700, underscoring strong confidence in property tokenisation as a new gateway to accessible and fractional real estate investment in the emirate.

Accredited under the Dubai Land Department’s official Property Tokenisation Initiative, PRYPCO Mint allows users to buy shares in ready properties through a streamlined, cost-efficient platform. Its success is helping to redefine traditional investment models and increase participation from both local and international investors.

With plans to expand its portfolio of tokenised properties, the platform is expected to play a central role in shaping Dubai’s property market by 2033.

Amid this momentum, the Dubai Land Department has invited interested individuals to pre-register and set up their accounts early to avoid missing out on future offerings in one of the world’s most dynamic real estate markets.

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