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 condemns hostile Iranian attack on Saudi tanker
The UAE has strongly condemned the hostile Iranian attack targeting Saudi Arabia's 'Wedyan' tanker while it was transiting the Strait of Hormuz.
H.H. Sheikh Hamdan meets gold medallists of International Greenwich Olympiad
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince, has congratulated the team from Dubai Schools – Al Khawaneej for winning the gold medal at the International Greenwich Olympiad.
Dubai Police unveils next generation of 'Ghiath' smart patrols
Dubai Police has launched the second generation of its ‘Ghiath’ smart patrol vehicles, strengthening its AI-powered policing transport ecosystem.
Iran remains incapable of turning page on war: Gargash
Dr Anwar Gargash, diplomatic advisor to the UAE president, said Iran "remains incapable" of committing to the agreed requirements of de-escalation following its recent attacks on several Gulf countries.
UFC adds two more bouts to Abu Dhabi Fight Night
The world's premier mixed martial arts organisation UFC has announced two additional bouts for Abu Dhabi's Fight Night event on July 25.
UAE condemns hostile Iranian attack targeting Qatari vessel
The UAE has strongly condemned the hostile Iranian attack on Qatar’s Al Rakeyyat vessel as it was transiting near the Strait of Hormuz.
UAE certifies world's first commercial air taxi vertiport
Dubai has taken another step closer towards launching commercial air taxi operations.
Ajman unveils AED 1.8 billion urban development roadmap
Ajman has unveiled a AED 1.8 billion development agenda aimed at enhancing community wellbeing and improving quality of life.
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