The company achieved remarkable growth in 2017 and witnessed many outstanding achievements in line with the steady growth of UAE economy Dubai – United Arab Emirates – 13/08/2017: The Dubai based “Gulf Navigation Holding PJSC”, listed in Dubai Financial Market (DFM) under “GULFNAV”, has announced 33% growth in net profits by the end of the first half of 2017, compared with the same period of 2016. This announcement comes concurrently with the new phase the company is launching to strengthen its position and competitiveness globally. Gulf Navigation is aiming to be one of the innovative service providers in the maritime and shipping industry. The latest financial reports released by the company shows a continuous steady improvement in its financial performance. The net profit in the first half of 2017 was AED 19 million (US $ 5.2 million) compared to AED 14 million (US $ 3.9 million) achieved during the first half of 2016, at a growth rate of 33%. Furthermore, the company’s current assets in 2017 now exceeds current liabilities (excluding borrowing) by AED 115.44 million ($31.54 million) on the 30th of June,2017. Whereas it was negative AED 90 million ($24.59 million) on 31st of December,2016. This improvement is considered a significant achievement that will enhance the financial position of the company. Commenting on the results of the first half of 2017, H.E Khamis Juma Buamim, Board Member, Managing Director and Group CEO of the Gulf Navigation Holding Group said: “Since we started a new phase to improve our performance and expand our business scope, our strategy focused on three main pillars: expansion, growth and permanence, which aligns with our vision “A Broad Vision to a New Horizon”. We have also succeeded in achieving many goals, starting by addressing the outstanding legal, financial and administrative issues, to launching our new brand that reflects the strategy of the company to enhance our position in the market. This will contribute in increasing our profits by 300% in 2021 as well as increasing our fleet size to include additional 20 ships of multiple tasks by the second half of 2020.” “We are determined to increase our profit and we are looking forward to more success that will ensure great returns to our partners and shareholders. Currently, we are going through a comprehensive development to create a “one-stop shop” to provide integrated maritime services with absolute commitment to the highest standards of quality, global security, safety and environmental protection standards. Therefore, it will contribute in diversifying the company’s business and increase the assets and added value for shareholders.” He added As a step to secure funds to cover Gulf Navigation expansion strategy, the company plans to issue Islamic Sukuk, with a total value of $250 million, as previously announced. —END— About Gulf Navigation Holding: Gulf Navigation Holding PJSC (GNH) is a fully integrated and synergized organization and a one-stop shop with a multi-functional business providing high quality services through its subsidiaries. It is the only shipping company listed in the Dubai Financial Market (DFM) since February 2007 under the symbol “GULFNAV”. The company is headquartered in Dubai, with an overseas office in Abu Dhabi, the Kingdom of Saudi Arabia, Khorfakan and Fujairah. GNH owns and operates a fleet of Chemical Tankers, VLCCs and Offshore Vessels. The company operates its fleet in adherence to the requirements of all the applicable international laws and regulations. The company also provides innovative and comprehensive marine solutions and services. Moreover, as an ISO 9001:2008 certified company accredited by Bureau Veritas, GHN is committed to adhering to the requirements of the international management code for the safe operations of vessels, pollution prevention and environmental control including compliance with all the applicable international laws, regulations and requirements.

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Paul Rendek, Director of External Relations at RIPE NCC.
Paul Rendek, Director of External Relations at RIPE NCC.

The Telecommunications Regulatory Authority (TRA) of the United Arab Emirates has begun preparations to host the 75th RIPE Meeting, an event that gathers Internet Service Providers (ISPs), network operators, and other parties to discuss important issues that face the internet community. RIPE 75 will take place from October 22 to 26, 2017 in Dubai, and supports TRA’s efforts to develop its Information Technology (IT) infrastructure to rank first in the 2021 Smart and E-Services Index.

Through hosting RIPE 75, TRA is reinforcing its efforts to exchange best practices and experiences to develop the UAE’s telecommunications and information systems industry. This also supports the objectives set by the National Agenda Index to develop integrated infrastructure, placing the UAE at the forefront of global smart services.

RIPE Meetings have become important international platforms for leaders, experts, international players, providers and operators in the information and communications technology (ICT) sector who gather to discuss policies put in place by RIPE NCC regarding the allocation of internet resources.

Abdul Rahman Al Marzouqi, manager for internet advancement policies and programmes department at TRA, said: “The continuous development of the Internet is one of our top priorities, as it is the key element in ensuring the successful transformation of smart cities. The Internet is also fundamental in driving economic development and building a knowledge-based economy. We consider the partnerships with the international organizations and companies working in this field fundamental, and encourage the exchange of experiences while highlighting the latest developments and the best ways to benefit from them.”

Paul Rendek, Director of External Relations at RIPE NCC, commended the TRA’s efforts to enhance cooperation between national and international ICT and network operators — discussing frameworks and policies to develop plans regarding integrated infrastructure that drives the development of a competitive knowledge-based economy. Rendek also noted the importance of hosting RIPE 75 in Dubai, as it has become a role-model for smart and sustainable cities, based on its adoption of the latest and most advanced infrastructure.

Rendek said: “We are looking forward to launching RIPE 75, which stands as an important platform for enriching knowledge and sharing insights on Internet resource allocation policies that are at the core of our strategic priorities. With the upcoming participation of the world’s leading Internet operators, we are confident that we will hold fruitful discussions on how to develop current policies to ensure that emerging challenges are fully addressed, in line with our ongoing commitment to implement our expertise and knowledge to improve the ICT sector, which is a key pillar towards achieving the international sustainable development objectives.”

RIPE 75 will be held over a period of five days at the Conrad Hotel in Dubai, and will feature panel discussions by the RIPE Business Group, regarding technical and regulatory challenges that face the internet industry, information systems, and network operations. The event will be participated in by key government agencies and companies, in addition to national, regional and international organizations. It will serve as an ideal platform for highlighting the latest emerging regional and global trends and developments, bridging key industry players, and shedding light on the best practices to shape the network operating industry according to the requirements of the 21st century.

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