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, Qatar discuss regional diplomacy and bilateral ties
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has held a phone discussion with Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, over the latest developments in the region.
UAE aid convoys enter Gaza with more than 930 tonnes of aid
The UAE has sent four convoys carrying humanitarian aid and special clothes for Eid Al Adha to Gaza last week as part of efforts to support the Palestinian people under "Operation Chivalrous Knight 3".
Sheikh Abdullah discusses regional security with Czech PM in Prague
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has met Czech Prime Minister Andrej Babiš during a working visit to Prague.
UAE, Serbia expand food security and agriculture partnership
The UAE and Serbia have discussed expanding cooperation in food security, agriculture and sustainable development during an official visit to Belgrade by UAE Climate Change and Environment Minister Dr Amna Al Dahak.
Uzbekistan launches 'Uzbek Reading Challenge' inspired by UAE
Uzbek President Shavkat Mirziyoyev has launched the Uzbek Reading Challenge, an extension of the Arab Reading Challenge that was introduced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai.
