Latest news with #AED2.4
Sharjah 24
6 days ago
- Business
- Sharjah 24
Dubai launches 2024 Judicial Authority report
Consolidated data reflects system-wide progress This is the third consecutive year that Dubai's judicial entities—Dubai Courts, the Public Prosecution, and the Judicial Inspection Authority—have presented consolidated data. The report affirms the efficiency and strength of the judicial system and reinforces Dubai's ambitions for a transparent and effective legal framework. Notable achievements and strategic developments Key developments include the implementation of judicial career paths, the launch of online services for judicial personnel, and the approval of a 2024–2026 strategic plan. The Judicial Council issued 84 regulatory resolutions and 50 legislative enactments, supported by 39 studies guiding judicial development. Smart justice on the rise In 2024, Dubai Courts issued 19,329 rulings, held over 21,000 remote hearings, and completed nearly 1.5 million smart requests—an increase of more than 650,000 from 2023. Public Prosecution processed over 40,000 smart criminal judgments and thousands of bail applications via digital platforms. Strengthening the judiciary and case handling The judiciary's workforce grew by 17% to 429 members, with a strong focus on training—978 hours delivered to 385 individuals. The courts achieved a case resolution rate of 97.58%, with AED36.2 billion in civil case settlements. Court auction revenues rose to AED2.4 billion. Improved accuracy and reduced timelines The accuracy of judgments in courts of first instance reached 85%. Time to judgment was reduced by 19% in appellate courts and 9% in the Court of Cassation. Execution requests exceeded 1.28 million, with AED9.3 billion collected in enforcement, and AED60.3 million disbursed through Al Khair Courts. Prosecution and oversight efforts Public Prosecution engaged in over 1,000 non-criminal cases and handled more than 40,000 criminal matters, achieving a 95.7% judgment execution rate and 94.1% investigation accuracy. Meanwhile, the Judicial Inspection Authority increased inspections by 18% and processed 250 complaints. Upholding justice and future goals The Dubai Judicial Council remains dedicated to justice, equality, and the rule of law, advancing the emirate's reputation as a center of legal excellence. Through modernisation, training, and institutional integrity, it continues to build a judiciary that reflects Dubai's global aspirations.
Zawya
12-03-2025
- Business
- Zawya
Borouge dividend yield hits 6.7%, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Borouge dividend yield hits 6.7pc, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation.
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Tecom shareholders approve $109m cash dividend for H2 2024
Tecom Group said its shareholders have approved the financial statements for FY 2024 as well as the recommendation by the board of directors to distribute a cash dividend of AED400 million ($109 million) - accounting for 8fils per share - for the second half of 2024. The announcement came during the Annual General Assembly Meeting, where shareholders re-elected the Board of Directors and approved the financial statements for the year that ended December 31, 2024. With this approval, the total cash dividends from Tecom have risen to AED800 million (16 fils per share), in line with the approved dividend policy in place until the end of the first half of 2025. Lauding the move, Chairman Malek Al Malek said: "Tecom Group's strong performance through 2024 has allowed us to implement our strategic investments. This includes AED2.7 billion of investments to deliver sustainable growth as we continue to expand and contribute to Dubai's economic success whilst providing increased returns for our shareholders." Tecom Group has announced a 11% year-on-year (YoY) increase in revenues which soared to AED2.4 billion, with occupancy and retention rates of 94% and 92%, respectively.
Zawya
11-03-2025
- Business
- Zawya
TECOM Group shareholders approve $109mln cash dividend for H2 2024
DUBAI - TECOM Group shareholders have approved the financial statements for the year that ended 31st December 2024 as well as the recommendation by the Board of Directors to distribute a cash dividend of AED400 million (8 fils per share) for the second half of 2024, bringing total cash dividends to AED800 million (16 fils per share), in line with the approved dividend policy in place until the end of the first half of 2025. The announcement came during the Annual General Assembly Meeting, where shareholders re-elected the Board of Directors and approved the financial statements for the year that ended 31st December 2024. Malek Al Malek, Chairman of TECOM Group, said, "TECOM Group's strong performance through 2024 has allowed us to implement our strategic investments. This includes AED2.7 billion of investments to deliver sustainable growth as we continue to expand and contribute to Dubai's economic success whilst providing increased returns for our shareholders." TECOM Group announced an 11 percent year-on-year (YoY) increase in revenues to AED2.4 billion, with occupancy and retention rates of 94 percent and 92 percent, respectively. Full year net profits grew by 14 percent YoY to AED1.2 billion with funds from operations (FFO) of AED1.6 billion, led by improved collections and income-generating assets' performance.
