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AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

UAE to set up waste-to-energy plants to get rid of trash

    • Dubai is building a $1.1 billion waste-to-energy facility, while a smaller plant is being built in Sharjah

    • Two more plants are being built in Abu Dhabi to get rid of trash around the country

    The United Arab Emirates is looking to construct a set of waste incinerators around the country in order to burn up two thirds of the trash, to take care of its growing refuse problem.

    Dubai is constructing a $1.1 billion waste-to-energy facility, one of the largest in the world, while a smaller plant in being built in Sharjah and will begin operation this year, Bloomberg reported. Two further projects are being built in Abu Dhabi.

    Burning trash creates carbon emissions, potentially making it harder for the UAE to reach its target of becoming carbon neutral by 2050.

    However, Bee’ah, Sharjah’s waste company, will try to mitigate this by creating green spaces, install a 120-MW solar array on top of the plant and produce hydrogen from the garbage to fuel its rubbish trucks. Sharjah will also be able to close its landfill site.

    Bee’ah CEO Khaled Al Huraimel said he wants to export the model across the region, including Saudi Arabia.

    While environmentalist favor recycling over burning of trash, turning plastics and other waste into usable products is extremely challenging.

    China’s recent ban on the importation of waste “has really changed the economic drivers,” said Mr.John Ord, a UK business director at engineering firm Stantec. “All of a sudden, we have a lot of waste that needs to be dealt with.”