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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 launches work permits for Golden Residency holders

    • Golden Residency visa was created last year for professionals, specialized degree holders

    • HR ministry lays down criteria for work permits

    The UAE government has said it will start issuing work permits for Golden Residency holders.

    Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum had in November 2020 announced that the UAE had approved a “Golden” visa grant allowing 10-year residency for professionals, specialized degree holders and others.

    Eligible for the Golden Residency were “all holders of doctorate degrees, all doctors, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, outperforming accredited universities in the country at a rate of 3.8 and more.

    The Ministry of Human Resources and Emiratisation said work permits are needed in three cases.

    First, those who were unemployed when they received their Golden Residency, and wish to start working for a certain employer. Second, those Golden Residency holders who plan to start working for a new employer, and the third is when a current employer wishes to renew the work permit and contract of a Golden Residency holder.

    The same rules apply to those persons who are registered as dependents of Golden Residency holders, are Golden Residency holders themselves as a result, and intend to apply for work.

    Work permits and contracts concluded between employers and workers who receive the Golden Residency will remain valid, and subject to all applicable UAE legislations.

    According to the ministry, fees prescribed and applicable fees for work permits for those outside the country, as well as fees for renewing and amending work permits and contracts, will also be applicable to Golden Residency holders.