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Threads on regulatory news from companies
Threads on regulatory news from companies
The Chairman's Report for Dubai Refreshment PJSC (DRC) highlights a successful financial year ending December 31, 2025. The company experienced a 6% increase in volume and a 7% rise in revenues, leading to a record profit before tax of AED 173.6 million, the highest in DRC's history. This achievement came despite challenges such as regional geopolitical uncertainty, supply chain disruptions, and intensified market competition. The success is attributed to strategic initiatives like new product launches, increased market penetration, and targeted marketing strategies. The company also focused on operational fundamentals, including working capital management, process automation, cost optimization, and digital transformation. A significant milestone was the full implementation of SAP S/4HANA, enhancing data analytics and process efficiency, and paving the way for future digital and AI advancements.
Al Sagr National Insurance Co. (PSC) has announced the opening of nominations for its Board of Directors from February 11 to February 20, 2026. Shareholders meeting the nomination criteria can apply by submitting an application to the company's head office in Bur Dubai, Dubai. The Board will elect seven members, and nominations are open for ten days as per regulatory guidelines. Applicants must meet conditions outlined in various legal and governance documents, and the application must include specific documents. Once nominations close, they cannot be transferred. The list of candidates will be published on February 23, 2026, and is subject to approval by the Central Bank of the UAE. The company will also provide this list to the Securities and Commodities Authority and reserves 20% of board seats for women's representation.
Dubai Refreshment PJSC has issued a notification stating that Mr. Karem Hikmat Mahmoud, the Director of Legal and Risk Compliance, is no longer employed by the company as of February 11, 2026. The communication is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and is signed by Mahmoud ElMeligy, CEO of Dubai Refreshment PJSC.
Emirates Central Cooling Systems Corporation PJSC (Empower) announced that Dubai Electricity and Water Authority PJSC (DEWA) has increased its ownership stake in Empower from 56% to 80% by acquiring the full shareholding of Emirates Power Investment LLC (EPI). EPI no longer holds any shares in Empower. Despite the change in ownership, Empower will continue to operate as an independent public company on the Dubai Financial Market, focusing on providing efficient and sustainable district cooling services across Dubai. Established in 2003, Empower is the world's largest district cooling services provider, serving major projects throughout Dubai.
The preliminary results for the year ended December 31, 2025, of the Public Joint Shareholders Company, Islamic Arab Insurance Co. – SALAMA (P.S.C), have been released. The company was established on April 29, 1979, with a paid-up, subscribed, and authorized capital of AED 483,021,183. The Chairman of the Board is Essa Ali Bin Salem Bin Jassim Alzaabi, and the Chief Executive Officer is Mohamed Ali Bouabane. The external auditor is Ernst & Young, Middle East. The company's mailing address is 4th Floor, Spectrum Building, Oud Metha, P.O. Box 10214, Dubai. They can be contacted via telephone at +971 4 3577000, fax at +971 4 3577418, or email at info@salama.ae. Note that these results are unaudited and unreviewed.