The UAE's market regulator has formed a forensic audit committee to review Drake and Scull.
It's after the company’s current management blamed its previous management and Board of Directors for losses of AED 5 billion incurred in 2018.
The company had filed an official complaint with the UAE Securities and Commodities Authority to pursue action against members of the previous executive management.
They said it was done to protect shareholders’ rights.
UAE 'will emerge stronger' says H.H. Sheikh Mohammed, Cabinet approves new strategies
A cabinet meeting, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday approved a series of national strategies and international agreements, to strengthen the country's resilience and global position.
UAE President and US Senator discuss regional developments
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a virtual meeting with US Senator Joni Ernst to discuss UAE–US strategic cooperation and their shared commitment to strengthening ties.
Safety remains priority as UAE universities begin gradual return to campus
Higher education institutions in the UAE will begin a phased return to on-campus learning from Monday, under issued guidance, with the authority offering the option while keeping the safety of the students, faculty, and staff as its top priority.
Sheikh Abdullah condemns attacks on civilian infrastructure in region
Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs, has strongly condemned attacks on civilian infrastructure in the region.
UAE responds to further missile, drone threats on Sunday
The UAE announced it is continuing to respond to incoming missile and drone threats from Iran, with a further alert issued by the National Emergency and Crisis Management Authority (NCEMA) on its official channel on Sunday at 3:23 p.m.
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