Business
Dubal Holding posts record Dh2.7b profits
Published
3 years agoon
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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.
Announcements
UAE sends 90 metric tons of urgent relief supplies to Sudan
Published
5 days agoon
September 3, 2024By
SudhashreeOn the directions of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai, the Dubai Humanitarian (DXB-H) has facilitated urgent relief supplies to Chad’s capital, Ndjamena, to support over 70,000 Sudanese people, alleviating their suffering and safeguarding lives in the region.
In a swift response to the escalating humanitarian crisis, a Boeing 747 cargo flight departed from Al Maktoum International Airport on Saturday, August 31, at 9:00 am carrying 90 metric tonnes of essential medical supplies, shelter materials, and relief items provided by the World Health Organisation (WHO) and the United Nations High Commissioner for Refugees (UNHCR). These critical resources are expected to support over 70,000 Sudanese people, alleviating their suffering and safeguarding lives in the region.
Announcements
Global Village announces opening date for Season 29
Published
5 days agoon
September 3, 2024By
SudhashreeSeason 29 of Global Village will kick off on October 16, 2024, the outdoor destination announced. The season will run until May 11, 2025. The popular destination remains closed during the summer months. This year, Global Village is expanding its offerings, featuring more cultural representations, never-before-seen entertainment, and exciting infrastructure upgrades.
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Visitors to the family-friendly destination can experience a diverse range of performances, shopping, and dining experiences from cultures around the world.
Opening more than 25 years ago, the destination set a new record of over 10 million visitors in its 28th season, the longest season to date, hosting 27 pavilions representing over 90 cultures from around the globe, as well as 3,500 shopping outlets and 250 dining options.
The destination is expecting millions of visitors from around the globe to gather for the park’s attractions during the upcoming season.
Announcements
Gaming meets speed: Ferrari launches first-ever esports arena in Abu Dhabi
Published
1 week agoon
September 1, 2024By
SudhashreeFerrari World Yas Island, Abu Dhabi’s acclaimed Ferrari-themed park, has once again redefined entertainment by launching the world’s first Ferrari-themed Esports Arena. This state-of-the-art venue is set to become the go-to destination for racing enthusiasts, Formula 1 aficionados, and thrill-seekers alike.
The newly unveiled Ferrari World Esports Arena features an impressive lineup of 20 Gran Turismo simulators, thoughtfully designed to cater to a broad audience. Fourteen simulators are dedicated to adult racers, while six are specifically designed for younger guests, creating a family-friendly atmosphere that welcomes visitors of all ages.
The arena also includes three specialised F1 simulators, offering participants the exhilarating experience of sitting in the driver’s seat of a Ferrari race car and racing on legendary F1 Grand Prix circuits, including the Yas Marina Circuit. Open daily from 10am to 6pm, the Ferrari World Esports Arena offers access to the Gran Turismo simulators as part of the theme park ticket until the end of the year. The exclusive F1 simulators are available for an additional fee, starting from Dh60 per race.