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 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.
16 ballistic missiles, 42 drones intercepted on Sunday
UAE air defences intercepted 16 ballistic missiles and 42 drones launched from Iran on Sunday, the Ministry of Defence (MOD) said, adding they've engaged 414 ballistic missiles, 15 cruise missiles and 1,914 UAVs since the start of the attacks.
Dubai Police issues 720 certificates for weather-affected vehicles
Dubai Police has issued 720 “To Whom It May Concern” certificates for vehicles affected by adverse weather conditions across the UAE, following requests submitted by affected vehicle owners since Monday.
Gargash: Political solution needs guarantees against repeat Iranian attacks
The diplomatic adviser to the UAE president, Anwar Gargash, said on Sunday any political solution to Iranian attacks on Gulf countries must include firm guarantees to prevent further aggression.
H.H. Sheikh Mohammed congratulates Dubai World Cup winner
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has congratulated the United States on the victory of the horse 'Magnitude' at the Dubai World Cup on Saturday.
Sheikh Abdullah discusses impact of Iranian attacks with global partners
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has discussed the repercussions of Iran's unprovoked attacks on regional security and stability during phone calls with foreign counterparts.
Dubai opens 13 new cycling tracks under 162km RTA expansion plan
Dubai’s Roads and Transport Authority (RTA) has completed 13 cycling tracks across the Emirate as part of a wider 15-track plan that spans a total length of 162 km.
Gusto Kita
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Elmo Magalona & Janella Salvador
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Pinoy Expat Corner
What does someone working on a yacht usually do? Are they often out at sea, and how long do they usually stay there?
