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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.

Germany to partner with Egypt to build hydrogen economy

  • Scholz believes electricity and hydrogen will be the key to transforming industry in Germany
  • He sees a big opportunity for countries like Egypt to supply hydgrogen to Germany

Germany is looking to partner with Egypt to build the hydrogen economy as Europe seeks to diversify away from its current reliance on Russian gas.

German Chancellor Olaf Scholz said after meeting with the Egyptian President Abdel Fattah El-Sisi.

“For the transformation of industry in countries like Germany, electricity and hydrogen will be crucial,” Scholz said at a news conference with Abdel Fattah El-Sisi.

“Much of that hydrogen will be imported,” he added, describing Germany’s need for gas imports as a “very big opportunity” for other countries.

“One thing we have had to learn from this crisis is that it is important to diversify,” he added. “You shouldn’t rely on one single partner but must have many good partners.”