Latest Threads on News from companies

GFH Financial Group has announced the sale of 30,000,000 treasury shares, which represent 0.783% of its total issued shares. As a result of this transaction, the total number of treasury shares held by the Group will be 182,402,418, accounting for 4.76% of the total issued shares. The announcement was made by Mariam Jowhary, the Head of Compliance and Anti-Money Laundering.

The Board of Directors of Gulf Navigation Holding PJSC is inviting shareholders to a general assembly meeting on July 10, 2025, at the Novotel Hotel in Dubai and online. The meeting will address the acquisition of Brooge Petroleum & Gas Investments FZE, Brooge Petroleum & Gas Investments Phase III FZE, and BPGIC Phase 3 Limited. A special resolution will be considered to approve the transfer and registration of shares and mandatory convertible bonds to Brooge Energy Limited or its ultimate beneficial owners, ensuring no owner exceeds 30% of the company's share capital, with a one-year lock-up period for the bonds' conversion into shares, in compliance with regulatory and economic standards.

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, has launched its twelfth annual summer campaign, "Set and Save at 24°C." The initiative encourages over 144,000 customers to set their air conditioners to 24°C to reduce electricity consumption, support energy efficiency, and contribute to sustainability efforts. The campaign aims to lower pressure on the power grid, cut carbon emissions, and promote environmental protection. Empower highlights that its district cooling systems use up to 50% less energy than conventional systems, enhancing efficiency and reducing emissions. CEO Ahmad bin Shafar emphasized the importance of responsible energy use and the role of individual actions in building a sustainable future.

Al Ramz Capital LLC, based in Dubai, has been appointed as a liquidity provider for Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution), a leading retailer and distributor of fuels in the UAE. Starting from June 17, 2025, Al Ramz will begin independent trading of ADNOC Distribution shares following regulatory approval. With over 25 years of experience, Al Ramz is a licensed market maker on several regional exchanges and is recognized for its expertise in enhancing market liquidity. Founded in 1998, Al Ramz is a public joint stock company listed on the Dubai Financial Market and offers services such as asset management, corporate finance, brokerage, and financial research.

The UAE Ministry of Defence, in collaboration with Tabreed and Emerge, has completed a project to integrate solar energy into two district cooling plants in Abu Dhabi. This initiative, part of a partnership agreement signed in March 2024, involves the installation of approximately 4,000 solar panels, providing 2.4 megawatts of clean electricity to the cooling plants. The project aims to reduce reliance on the electricity grid during peak times and cut CO2 emissions by over 2,600 tons annually. This move aligns with the UAE Armed Forces Climate Change Strategy to reduce carbon emissions. Tabreed's CEO emphasized the company's commitment to sustainability and diversifying its energy mix, while Emerge highlighted the growing trend of distributed solar solutions in the UAE.