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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.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

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ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Turkey battles forest fires for fourth day

    • The wildfires broke out on Wednesday across southern provinces, injuring more than 300

    • Investigators are trying to establish if some of the fires were started deliberately

    Fire crews tackled blazes for a fourth day as the number of people killed in forest fires sweeping through southern Turkey rose to six on Saturday, state media reported.

    The wildfires broke out on Wednesday and have since injured more than 300 and forced the evacuation of villages and hotels.

    The toll rose after the bodies of two workers who had been trying to put out the fires were found, state news agency Anadolu reported.

    The agency said another fire began on Saturday in the tourist city of Bodrum with other reports saying people had been evacuated from their homes and hotels.

    Ten fires are still going and another 88 have been brought under control since Wednesday, Agriculture and Forestry Minister Bekir Pakdemirli tweeted.

    Investigators are trying to establish if some of the fires were started deliberately.

    President Recep Tayyip Erdogan thanked Russian counterpart Vladimir Putin during a phone call for sending planes and helicopters to help, the presidency said.

    The Turkish leader has taken flak at home after it emerged that Turkey had no firefighting planes despite one-third of its territory being forested and fires becoming an increasing problem.

    “The main reason for these issues with planes is that the Turkish Aeronautical Association has not been able to update its fleet and technology,” Erdogan said during a visit to the town of Manavgat, one of the affected areas.

    More than 2,600 fires have erupted each year on average in the last decade, but that figure jumped to almost 3,400 last year, said Husrev Ozkara, vice chair of the Turkish Foresters Association.