Connect with us

Business

Dubal Holding posts record Dh2.7b profits

Published

on

Spread the love

Dubal Holding (DH) is on an upswing and it has posted record high financial results for FY2021.

The company’s net profit went up to $735 million (Dh2.7 billion) compared to $59 million (Dh217 million) for the prior year.

The 1,145 per cent year-on-year growth in net profit is a huge achievement. It happened due to a combination of good operational performance, as well as record profits made by DUBAL Holding’s 50 per cent subsidiary, Emirates Global Aluminium (EGA), due to soaring global prices of aluminium in 2021, the firm pointed out.

Dubal Holding is the investment arm of Dubai Government in the commodities and mining, power, energy, and industrial sectors.

The company’s results were revealed during its annual general meeting held at the Dubai Electricity and Water Authority (Dewa). The meeting was presided over by Saeed Mohammed Al Tayer, the chairman of Dubal Holding.
He said: “We strive to achieve the directives of our wise leadership to strengthen the UAE and Dubai’s position in the global economy. Our wise leadership, with its vision that shapes the future, made an early investment in the aluminium industry.

“Today, this sector witnesses a strong demand and is powering new emerging industries, and assuming a bigger role in sustainable development. This strategic direction contributes to enhancing the competitiveness of the UAE in the global aluminum markets of the future.”

Vice chairman of Dubal Holding Abdulla Jassem Kalban said: “DUBAL Holding continues to play its vital twofold role by investing in high-yield, long-term projects that serve the national economy, on the one hand, and contribute to the UAE’s sustainability goals.”

Dubal Holding has been entrusted with overseeing a number of projects. One among them is the implementation of the Dubai Waste Management Centre at Warsan – one of the world’s largest waste-to-energy (WtE) plants – which will treat approximately 1.9 million tonnes of solid municipal waste per year and bring electricity to over 100,000 households.

Business

Dubai gold market news: Exclusive UAE commemorative coins now available

Published

on

Spread the love

A new limited-edition collection of gold and silver commemorative coins has been launched in the UAE, celebrating national unity while supporting community development efforts across Dubai.

The initiative, led by Emirates Minting Factory in collaboration with Dubai Gold District, is inspired by the ‘Proud of UAE’ campaign and is available exclusively within the district. The collection offers collectors and investors a chance to collect a symbolic piece tied to a defining moment in the nation’s recent history.

Beyond its collectable value, the project carries a philanthropic dimension. Proceeds from the sale of the coins will go to Ferjan Dubai, a social enterprise focused on strengthening community life and enhancing social well-being across neighbourhoods.

Officials say the initiative reflects a broader message of unity and resilience. Essa Al Falasi, Chairman of Emirates Minting Factory, described the coins as symbols of “gratitude and solidarity,” noting that the project aims to combine tangible value with meaningful impact. As a UAE-founded company, he added, the factory sought to contribute in a way that resonates with both national pride and social responsibility.

Each coin is crafted with investment-grade 1 oz gold and silver, reflecting the UAE’s heritage through detailed design and high-quality minting. The collection is positioned not only as a commemorative keepsake but also as a long-term asset for collectors.

The launch comes amid a growing trend of purpose-driven luxury products in the region, blending investment appeal with social impact.

Continue Reading

Business

AI Is taking over half of UAE government services: What you need to know

Published

on

Spread the love

half of

The UAE will transition 50 per cent of its government services, operations and sectors to autonomous artificial intelligence systems within the next two years, under directives issued by President Sheikh Mohamed bin Zayed Al Nahyan.

The major shift was announced on Thursday by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who said the country would move half of its government services to AI-driven systems as part of a new governance model.

Describing the initiative as a next-generation government system, Sheikh Mohammed said the UAE aims to become the first country in the world to adopt ‘agentic AI’ models capable of independently executing tasks, managing processes and supporting decision-making without direct human intervention.

He noted that advanced AI technologies are now able to monitor changes, analyse data, provide recommendations and carry out sequences of actions autonomously, adding that such systems would function as an executive partner to government entities. The move is expected to enhance efficiency, improve service delivery and enable real-time evaluation and optimisation across public sector operations.

Sheikh Mohammed also said that ministers, directors-general and federal entities would be assessed over the next two years based on how effectively they keep pace with the transformation, including the speed at which they adopt AI tools and implement new operational standards.

As part of the initiative, all federal government employees will undergo specialised training in artificial intelligence to build the capabilities required to support what has been described as one of the largest government transformation projects globally.

How AI shift could affect daily life

  • Applications, approvals, and renewals could be processed much quicker.
  • Expect fewer in-person visits and more services handled online.
  • AI systems don’t sleep, some services may become available 24/7.
  • Real-time tracking and instant status updates on requests.
  • Policies and services may improve based on data-driven insights.
  • Basic processes (like renewals or payments) could be fully automated.
  • Problems or delays in services may be identified and fixed sooner.
  • Increased reliance on digital systems may bring stronger data controls, but also higher awareness around privacy.

Continue Reading

Business

UAE’s new banking rule explained: Why WhatsApp is banned

Published

on

Spread the love

The UAE Central Bank has banned banks from using messaging apps like WhatsApp for customer services, but what does that actually mean for you?

Here’s a simple breakdown 

No more banking over WhatsApp

If you’ve ever:

  • Messaged your bank on WhatsApp
  • Received account details or updates
  • Got verification codes or documents

That’s now completely banned.

Banks are no longer allowed to use messaging apps for any financial communication.

Your data will be safer

The main reason for the ban is security.

Messaging apps can:

  • Be used for scams or impersonation
  • Allow easy sharing of sensitive info (screenshots/forwards)
  • Store or process data outside the UAE

The new rule ensures your banking data stays protected and within the country.

What you can’t do anymore

Through apps like WhatsApp, you will not be able to:

  • Transfer money
  • Pay bills
  • Open or close accounts
  • Receive PINs or OTPs
  • Share documents like Emirates ID or bank statements

Where you should bank instead

Going forward, banks will direct you to official channels only, such as:

  • Mobile banking apps
  • Secure websites
  • Call centres
  • Physical branches

 If someone asks you to share banking details over WhatsApp, that’s a red flag.

Watch out for scams

This change also helps you identify fraud more easily:

Banks will not contact you on WhatsApp for sensitive matters anymore

So if you get such a message, it’s likely a scam.

When this takes effect

Banks have until the end of April to fully stop using messaging apps. After that, violations could lead to penalties.

This isn’t about convenience, it’s about protecting your money and personal data. Expect fewer casual interactions with banks, but much stronger security.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/