Dubai Investments, a diversified holding company, reported a 78 per cent surge in its 2021 net profit as revenue rose on the back of an improved performance by its business units.
Total net profit attributable to the owners of the company for the full year climbed to Dh619.4 million ($168.7m), the company said in a statement to the Dubai Financial Market, where its shares are traded.
Revenue during the period rose 28 per cent to Dh3.41 billion.
The profit increase was mainly due to the strong performance of its manufacturing, contracting and services segment, as well as gains on the fair valuation of financial investments and investment properties, and the acquisition of additional interest in an equity accounted investee, the company said.
Set up in 1995, the Dubai-listed holding company holds stakes in companies involved in a range of sectors including property, industrial, financial services, health care and education.
It owns businesses such as Dubai Investments Park, venture capital company Masharie, Al Mal Capital and district cooling company Emicool. The emirate's sovereign wealth fund, the Investment Corporation of Dubai, holds a stake in the company.
Dubai Investments aims to strengthen its foothold in the property sector and last year signed an agreement with Ras Al Khaimah master developer Marjan to acquire land to develop a Dh1bn mixed-use waterfront destination on Al Marjan Island.
It is also building a Dh500m project in Fujairah with shopping malls, residential and commercial towers and a hotel. In addition, it is developing a Dh3bn mixed-use project in Mirdif with more than 1,000 residential units, an office building and a hotel.
The UAE's economy continues to recover from the coronavirus pandemic and is expected to grow 4.6 per cent this year, according to Emirates NBD.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Movie: Saheb, Biwi aur Gangster 3
Producer: JAR Films
Director: Tigmanshu Dhulia
Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi
Rating: 3 star
AIDA%20RETURNS
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Scoreline
Al Wasl 1 (Caio Canedo 90 1')
Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')
Red cards: Ismail Ahmed (Al Ain) 77'
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Wonka
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Honeymoonish
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UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Netherlands v UAE, Twenty20 International series
Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen
Tuesday, August 6 – Third T20i, Voorburg
Thursday, August 8 – Fourth T20i, Vooryburg
The specs
Engine: 2.3-litre, turbo four-cylinder
Transmission: 10-speed auto
Power: 300hp
Torque: 420Nm
Price: Dh189,900
On sale: now