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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.

Etihad Rail inks transport deal with Western Bainoona Group

    • The deal will see a total of 4.5 million tons of Western Bainoona Group’s construction materials transported annually on 643 trains

    • The materials will come from the group’s Fujairah facilities to logistics hubs in the Industrial City of Abu Dhabi and Dubai Industrial City

    Etihad Rail has signed a deal to transport construction materials for the Western Bainoona Group, said local reports on Tuesday, August 3.

    Etihad Rail is the developer and operator of the UAE’s National Rail Network.

    The reports said it will now provide rail freight services to transport construction materials from Western Bainoona Group’s Fujairah facilities to Abu Dhabi and Dubai.

    The partnership is said to be one of Etihad Rail’s largest commercial partnerships for Stage Two of the UAE’s National Rail Project.

    The deal is expected to see a total of 4.5 million tons of Western Bainoona Group’s construction materials transported annually on 643 trains from Fujairah to logistics hubs in the Industrial City of Abu Dhabi and Dubai Industrial City.

    Etihad Rail is reportedly allocating 70 wagons for each train — which will be around 1 km long — with an approximate capacity of 7,000 tons per trip.

    The local reports quoted West Bainoona Group Chairman Mohammed Khalfan Al Hameli as saying: “In sum, the network will enhance the capacity of companies operating across the UAE.”

    He added: “Companies can develop their business by redirecting assets and reducing transportation costs, efficiently utilizing their time and resources to become active players in the development of the UAE.”