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 President and Rulers offer condolences to H.H. Sheikh Mohammed
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, along with other Rulers, offered their condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the passing of Sheikh Ahmed bin Rashid Al Maktoum.
Sheikh Ahmed bin Rashid Al Maktoum laid to rest
Sheikh Ahmed bin Rashid Al Maktoum has been laid to rest at Dubai's Umm Hurair Cemetery on Tuesday, following a funeral prayer attended by royals at Grand Zabeel Mosque.
Sheikh Ahmed bin Rashid Al Maktoum passes away; 10-day mourning in Dubai
Sheikh Ahmed bin Rashid Al Maktoum has passed away on Monday, with the Court of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, declaring a 10-day mourning in the Emirate.
Sharjah approves over AED18 million in debt settlement for citizens
More than AED 18 million in debt have been settled for UAE nationals living in Sharjah.
Sheikh Abdullah chairs UAE-France-India trilateral meeting at UN
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has chaired a trilateral meeting under the framework of the UAE-France-India cooperation initiative on the sidelines of the 81st UNGA81.
Sheikh Abdullah joins Trump meeting on sidelines of UN General Assembly
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has participated in a meeting convened by US President Donald Trump on the sidelines of the 81st Session of UNGA81 in New York.
UAE, partners renew push for Gaza peace plan
Foreign ministers from the UAE and seven other countries have expressed deep concern over the continuing humanitarian suffering in Gaza.
Sharjah Ruler approves major leisure project in Kalba
Sharjah is moving ahead with a major new recreational project in Kalba.
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Pinoy Expat Corner
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