DUBAI: In the second quarter of this year, Abu Dhabi’s AD Ports Group reported a profit of 300.6 million dirhams ($81.68 million), an increase of 59 percent over the same period last year, but a decrease of about 2 percent over the first quarter, according to MEED.
For the second quarter, revenues grew by 25 percent to 1.2 billion dirhams, primarily driven by the Maritime and Economic Cities & Free Zones clusters, and to a lesser extent by the Digital Cluster, MEED added.
As compared with the first quarter, revenue increased by close to 19 percent. For the second quarter of this year, adjusted earnings before interest, taxes, depreciation and amortization increased by 41 percent.
Company officials reported an improvement of 200 basis points in adjusted Ebitda margin for the period, reaching 42.8 percent.
“AD Ports Group maintains a robust capital structure with adequate liquidity and investment-grade credit ratings to cater to its future growth,” the firm said.
UAE tops 11 indexes as best destination for expats
On 11 indexes of the best expat destinations, the UAE has outperformed the international average in terms of language, bureaucracy, professional prospects, leisure opportunities, travel, transport, job satisfaction, safety, health care, digital life, housing, wages, and job safety, according to InterNations, Emirates News Agency WAM reported.
Out of five pillars and 17 indexes, the UAE scored highly in four key pillars and 11 key indices, according to a German research firm, WAM added.
A number of factors were considered in the report, including the quality of life, ease of settling in, working abroad, personal finances, and the availability of basic necessities.
It was revealed that 94 percent of UAE residents felt safe, compared to 81 percent worldwide, and 86 percent of those surveyed were satisfied with government services, exceeding the worldwide average by 25 points.
Additionally, 90 percent of respondents said they could make cashless payments, while only 84 percent of respondents worldwide said they could.
Healthcare access in the UAE is easy for 78 percent of residents, compared to 64 percent worldwide in the health care sector, WAM said.
79 percent of respondents said living in the UAE improved their career prospects, compared to 65 percent of respondents worldwide.
While the global percentage of people who do not speak the local language is 51 percent, 85 percent of UAE residents said it wasn’t a barrier, and 83 percent of UAE residents said administrative procedures are easy and simple, outperforming the global rate of 56 percent by 27 points.
There is a 75 percent positive response to finding housing, compared to a 54 percent negative response worldwide.
The UAE is the world’s leading country in this regard, according to 83 percent of those who were surveyed, WAM concluded.
Emaar board to discuss Namshi sale on August 18
The board of directors of Emaar Properties will discuss the sale of Namshi, its e-commerce unit, on August 18, MEED reported.