Waha Capital posts 442% rise in Q4 profit

Abu Dhabi-based investment firm Waha Capital has reported a 442% surge in its fourth quarter net profit to Dhs217m, the highest since its establishment in 1997, Gulf News has reported. This compares with Dhs40m, the company earned during the corresponding quarter of 2008. The firm had capitalized on opportunities arising from the global financial crisis for new initiatives in a number of economic sectors particularly in the emirate of Abu Dhabi and the UAE, Waha's CEO, Salem Rashid Al Noaimi said.