Al Watan newspaper

The International Holding Company announced its financial results for the fiscal year ending December 31, 2023, which showed steady growth accompanied by record operating performance, notable achievements in the field of sustainability, and high-level financial results.

His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Chairman of the Board of Directors of the International Holding Company, said: “The year 2023 was an exceptional year in terms of growth, concluding strategic partnerships globally, and strengthening our diversified investment portfolio, which enhanced our ability to face economic fluctuations and adapt to them. We were keen to consolidate our network of relationships at the global level, in line with our mission to support and advance the progress of the United Arab Emirates, as a pioneering country in the field of finance and innovation. The trust placed in us by investors was an incentive to continue creating added value, while our commitment to sustainability was reflected during our participation in the Conference of the Parties (COP28). By employing artificial intelligence technologies to enhance the efficiency and direction of our operations, we continue to work towards a future in which we promote sustainable growth across various industries and sectors, achieving added value, thanks to the support we enjoy from our Board of Directors and shareholders.”

During the year 2023, the International Holding Company recorded a strong financial performance, as revenues reached 60.1 billion dirhams, an increase of 17.9% compared to revenues in 2022, which amounted to 50.9 million dirhams. This is due to the major acquisitions carried out by the company, and its high financial performance as a result of record sales in the marine, dredging and real estate sectors.

The International Holding Company recorded strong net profits amounting to 32.95 billion dirhams, achieving a significant increase in earnings per share, which doubled from 6.81 dirhams to 12.55 dirhams, as a result of the high performance of all the companies of the International Holding Group in the sectors of real estate, construction, utilities, health care, food and agriculture, marine works, dredging and services. The group witnessed additional expansion in the sectors of hospitality, sustainability, artificial intelligence, technology and financial services, which embodies the strategic vision of the group’s management. The International Holding Company’s management’s commitment to growth and its launch of effective strategic initiatives have positioned it to achieve further growth in the coming years.

The most prominent acquisitions achieved by the International Holding Company during the year 2023 include the acquisition of Admo Lifestyle Holding, which is the joint venture of Alpha Dhabi Holding, of “Cla Vie”, the “Namoos” group, and “Umm Sharif” restaurants, to diversify its portfolio in the upscale restaurant and hospitality sector. And the establishment of Sirius International Holding Company to benefit from development technologies and digital transformation to achieve sustainability and combat climate change. Within the framework of sustainability initiatives, the International Holding Company participated in the Conference of the Parties (COP 28), to showcase the achievements of 19 of its subsidiaries, and launched the Proceed Center to contribute to achieving the UAE’s goals in the field of sustainability.

The International Holding Company also acquired 49% of Mudon Company in a strategic step to expand in the real estate and construction sector. The investment in the initial public offering of the Bitcoin mining company “Phoenix” contributed to strengthening the global holding company’s position in the field of blockchain and cryptocurrency solutions on a global scale.

Sayed Basr Shuaib, CEO of International Holding Company, said: “Recording record profits in 2022 contributed to laying strong foundations for high performance in 2023, which strengthened our financial position and expanded our leadership in priority sectors for Abu Dhabi’s economic future. Our achievements for the year 2023 were driven by the commitment of our human resources, whose stability and prosperity have always been a pivotal part of our institutional principles and directions, and the progress we have achieved will allow us to move forward towards stimulating future growth and diversifying our investment strategy across new markets.”

The establishment of 2Point Zero represents an important step in the General Holding Company’s strategy, and strengthens its position in the field of innovation, by focusing on technology, materials, resources and climate finance. The International Holding Company continues its endeavor to maintain growth across various sectors, as the company is committed to employing the latest technologies and directing investments and financial services in a step that reflects its commitment to the development and prosperity of the global economic scene.

2024-02-26 18:27:33
#International #Holding #Company #records #revenues #exceeding #billion #dirhams

Global maritime freight prices began the year 2024 with significant jumps, reaching record levels not reached since the end of November 2022, amid a series of price increases witnessed during the last quarter of last year that ended the decline witnessed in 2023.

On a weekly basis, sea freight prices, according to the Baltic Sea Freight Index, as of January 4, 2024, jumped by more than 85% compared to their levels in the week ending December 29, 2023, as the average cost of shipping a 40-foot container reached $2,490 compared to $1,341 the week. the previous.

According to the Drury Composite Index, the rise rates reached 61% on January 4 compared to their level on December 21, 2023, as the average cost of a 40-foot container rose to $2,670, compared to $1,661.

Before this weekly jump, and despite the increases witnessed in prices during the last quarter of the past year due to geopolitical events, price levels at the end of 2023 were their lowest levels at the end of 2022.

According to the Baltic Index, global sea freight prices declined by about 37.7% over the past year, as the cost of shipping a 40-foot standard container reached $1,341 in the week ending December 29, 2023, compared to $2,152 in the week ending December 30 of the previous year, 2022. This is according to the Baltic Index, which monitors global shipping rates between several main lines that pass through the Pacific and Atlantic Oceans and through the Suez Canal.

Shipping prices in the week ending January 13 during the year 2023 were at their highest levels at a cost of $2,238, while they reached their lowest level during the year 2023 in October, specifically in the week ending October 20, as the cost of shipping a container reached $1,048, and then rose again. gradually to reach its present levels.

The cost of shipping a 40-foot standard container amounted to $1,790.2 at the end of the first quarter of last year, then fell to $1,277.2 at the end of the second quarter, and to $1,176.4 at the end of the third quarter of the year.

According to the Drury Composite Index, it increased by 61% to reach $2,670 per 40-foot container in the current week compared to the previous week, and it also increased by 25% compared to the same week last year.

The index showed that the current price level of $2,670 for a 40-foot standard container is now 88% more than the average price of 2019 (pre-Corona pandemic) of $1,420.

According to the Drury Composite Index, shipping prices during the current week from Shanghai to Rotterdam increased by 115%, or the equivalent of $1,910, to $3,577 per container, followed by prices from Shanghai to Genoa, which rose by 114%, or $2,222, to $4,178 per container. Likewise Prices from Shanghai to Los Angeles rose 30%, or $626, to $2,726 per 40-foot container, and prices from Shanghai to New York rose 26%, or $784, to $3,858 per container.

Prices from Rotterdam to Shanghai jumped by 17%, or $80, to $546 per container. In the same way, prices from Rotterdam to New York rose by 2%, or $23, to $1,503 per box, while prices from Los Angeles to Shanghai and from New York to Rotterdam remained the same. Stable. Wm

2024-01-05 20:19:27
#Global #shipping #rates #exceptional #jumps

The Dubai Financial Market witnessed the implementation of 3 large direct deals on the shares of “Takaful Emarat”, “Shuaa Capital” and Islamic Arab Insurance “Salama” on a number of 175.3 million shares with a total value of 87.2 million dirhams.

According to Dubai Financial Market data, the first deal was executed on “Takaful Emarat” shares for 44.2 million shares, worth 18.5 million dirhams, at an execution price of 0.419 dirhams.

The second deal was executed on “Shuaa Capital” shares for 6.3 million shares, worth 1.26 million dirhams, at a price of 0.2 dirhams.

While the third deal was implemented on the shares of the Islamic Arab Insurance Company “Salama” for 124.8 million shares, worth 67.4 million dirhams, at a price of 0.54 dirhams.

Large deals (mechanism) are provided by the local markets to investors and brokerage companies, allowing the completion of deals of this type on shares of a listed company without being restricted by the range of price limits applicable in the market.

The executed large direct trades do not affect the closing price of the company’s stock in question nor the general index, nor do they affect the highest and lowest prices executed during the session or during the last 52 weeks.

2023-12-27 10:52:02
#major #deals #Takaful #Shuaa #Salama #shares #worth #million #dirhams

2023-12-03 22:52:46
#Central #Bank #Central #Bank #Cuba #sign #agreement #enhance #joint #cooperation