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.
Sheikh Mohammed honours Egyptian professor with 'Great Arab Minds' award
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has congratulated Egyptian professor Abbas El Gamal for winning the Great Arab Minds award.
UAE announces $550 million for UN’s 2026 Global Humanitarian Overview
Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE has announced a pledge of $550 million to support the UN’s Global Humanitarian Overview (GHO).
UAE bans travel to Mali, urges nationals to return
The UAE has imposed a travel ban on Emiratis travelling to Mali following "concerning developments", urging those currently in the country to return at the earliest opportunity.
Rain, dusty conditions forecast across UAE from December 12
The UAE’s weather bureau has forecast chances of scattered rainfall, dusty conditions and rough seas from December 12 to December 19.
UAE continues to send aid to assist flood-hit Sri Lanka
The UAE's eight humanitarian aid aircraft has arrived at Sri Lanka's capital, Colombo, on Tuesday in efforts to support the country following deadly floods and landslides.
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