Latest Threads on News from companies

Moody's Ratings has reaffirmed Salik Company PJSC's investment-grade credit rating of "A3" with a stable outlook. This decision reflects Salik's low business risk profile, limited competition, and a long-term concession agreement with the RTA. The rating highlights Salik's strong financial performance, operational resilience, and effective capital market strategies. Salik benefits from consistent traffic growth due to favorable economic and demographic trends in Dubai. The company maintains a robust balance sheet, strong liquidity, and significant cash flow generation. As of September 2025, Salik's net debt/EBITDA ratio was 2.61x, well below its debt covenant, and it generated AED 1.47 billion in free cash flow for the nine-month period, marking a 39.5% increase year-over-year. CEO Ibrahim Sultan Al Haddad expressed satisfaction with the rating reaffirmation, emphasizing the company's strong financial position and strategic success. While there are no immediate plans for public debt issuance, the investment-grade rating ensures Salik's readiness to access capital markets if needed.

GFH Financial Group announced the purchase of 563,542 treasury shares, increasing its total treasury shares from 256,446,509 (6.691% of total issued shares) to 257,010,051 (6.706% of total issued shares) as of December 9, 2025. The decision to purchase was made during a board meeting on March 2, 2025, and approved by the authority on October 20, 2025. The average purchase price was USD 0.592. There are 126,249,332 shares remaining for purchase. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

On December 9, 2025, the Board of Directors of Gulf Navigation Holding PJSC held a meeting. During this meeting, they approved regular company matters and other business. Additionally, Mr. Alvaro Benevides was appointed as the Board Secretary. The communication is signed by Ali Abouda, the Chief Finance & Operation Officer of Gulf Navigation Holding PJSC.