US crude stocks fall by over 7 million barrels; Russian supply set to be sharply curbed by EU sanctions; Russia sees energy export revenue rising nearly 40 per cent
Dubai Investments, a leading UAE investment company listed on the Dubai Financial Market (DFM), approved all resolutions on its agenda during its annual general meeting, held on Sunday.
The AGM approved the group’s financial statements for the financial year 2020 as well as the attribution of eight per cent cash dividend to its shareholders.
The company reported a growth in the total assets by Dh804 million in 2020, bringing the company’s total assets to Dh21.76 billion as of December 31, 2020. The group also reported a profit attributable to Dubai Investments’ shareholders of Dh347.6 million for the year 2020.
While the group recognised that the pandemic had presented challenges to a business as diversified as Dubai Investments, it also noted that the last year had demonstrated the resilience of the group’s business model.
The group has been delivering long term, sustainable growth throughout the years to its shareholders through its prudent and diversified approach to investments.
— business@khaleejtimes.com
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US crude stocks fall by over 7 million barrels; Russian supply set to be sharply curbed by EU sanctions; Russia sees energy export revenue rising nearly 40 per cent
Haitham Al Ghais, who took office on August 1, said oil demand was robust in the physical market, concern of Chinese economic slowdown was exaggerated and demand was likely to find support from jet fuel use as people travel more
Hassan, whose appointment drew positive initial reactions, was head of state-owned media giant United Media Services Company
The central bank cited the “weakening effects of geopolitical risks” as it lowered its one-week repo auction rate to 13 per cent from 14 per cent
The island nation defaulted on its $51 billion foreign debt in April and is seeking an International Monetary Fund bailout after months of food, fuel and medicine shortages
Dubai’s main share index added 0.2 per cent, helped by a 0.8 per cent increase in blue-chip developer Emaar Properties
In the minutes of the July policy meeting, which produced a second massive rate increase of 75 basis points, Fed officials said it will take some time to bring “unacceptably high” inflation back down near the two per cent goal