DUBAI: Investment Corporation of Dubai’s (ICD) first-half net profit rose 0.3 percent to 10.3 billion dirhams ($2.8 billion), the Dubai government’s main investment arm said on Wednesday.
ICD benefited from higher commodity prices and continued strength in banking and financial services, it said in a statement.
ICD, whose portfolio includes stakes in companies such as Emirates Airline and the Emirates NBD bank, registered a 13.1 percent rise in revenue to 93.2 billion dirhams.
The largest increases in revenue were in oil and gas and transportation services, it said.
ICD said its assets stood at 786.8 billion dirhams as of June 30, up 2.2 percent from the end of 2016, helped by an increase in loans and receivables in banking and financial services and by its acquisition of UAE-based ALEC Engineering & Contracting.
Dubai’s ICD first-half revenues rise
Dubai’s ICD first-half revenues rise
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
