SCC committee discusses issues related to Sharjah’s economy and tourism

• The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
• The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.

HMG 2023 net profit $544m

• The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
• Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).

Roadmap out for environmental education, sustainable development at WEEC2024

Americana Restaurants posts profit.

• The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
• Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.

QEWC 2023 net profit US$426m

• The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
• QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.

Ford Middle East sales up 63%

• Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
• It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.

Air Arabia 2023 net profit $408m

• The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
• Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,

solutions by stc, Devoteam ink MoU

• The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
• The collaboration also aims to combine the experience and resources of the parties for mutual benefit.

GPSSA issues circular on pensions, gratuity in UAE

• The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
• In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.

Several nations eager to join Charter of Cooperation, says OPEC Secretary-General

• The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
• He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.