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.
14 dead, 30 injured in Fujairah traffic accident
Fourteen people have died and 30 others have been injured following a major traffic accident in Fujairah, according to an update from the UAE Ministry of Interior.
UAE President, Crown Prince of Bahrain discuss regional developments
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has discussed ongoing efforts to address regional developments with Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, during his visit to the UAE.Â
H.H. Sheikh Mohammed issues law defining Dubai Municipality's mandate
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a law defining Dubai Municipality's mandate to build a future-ready city.
Sharjah reopens beaches to the public after tanker oil spill
Beaches in Sharjah have reopened to the public, with authorities confirming that an offshore oil spill involving a tanker in October has been contained.
8 arrested for Abu Dhabi hotel brawl; 2 more held for filming it
Abu Dhabi Police have arrested eight people for fighting at the entrance of a hotel in the Emirate, and two more for filming the brawl.
UAE President meets US delegation following trilateral talks with Ukraine, Russia
UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan has met with the US delegation that mediated the talks between Ukraine and Russia in Abu Dhabi this week.
Abu Dhabi arrests man in AED 14 million gold jewellery fraud
A man has been arrested in Abu Dhabi for defrauding the owner of a gold jewellery store in the UAE capital of items worth AED 14 million.
Several dead and injured in Fujairah road collision
Several people have been reported dead and wounded after a truck collided with a number of vehicles on Fujairah's Sheikh Khalifa bin Zayed Street early Thursday.
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Pinoy Expat Corner
In the fight against cancer, how important is having a strong support system—family, friends, and the community?
Pinoy Expat Corner
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Pinoy Expat Corner
What should beginners know before getting into off-roading? What type of vehicle is ideal for off-road adventures?
