Business from Tuesday, February 11th, 2025

Emirates, the world’s largest international airline, has signed an interline agreement with West Africa’s largest carrier, Air Peace, enhancing connectivity for passengers travelling to and from Nigeria.

Haitham Al Ghais, Secretary-General of OPEC, said investment needs in the oil sector will remain substantial to meet the expected growth in oil demand, with cumulative investment requirements estimated at $17.4 trillion between 2024 and 2050, or approximately $640 billion annually.

ADNOC Distribution has announced its financial results for 2024, achieving its highest-ever Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 per cent year-on-year.

UAE telecommunications company du has posted record-breaking financial results for 2024 with revenue up to AED14.64 billion, a 7.3 per cent increase from the previous year.

A consortium led by Elon Musk offered $97.4 billion (AED 357 trillion) to buy the nonprofit that controls OpenAI, another salvo in the billionaire's fight to block the artificial intelligence startup from transitioning to a for-profit firm.

Dubai Electricity and Water Authority (DEWA) recorded consolidated full year revenue, for 2024, of AED30.98 billion, EBITDA of AED15.70 billion and net profit after tax of AED7.24 billion.