Latest Threads on News from companies

On June 11, 2025, GFH Financial Group B.S.C. issued a clarification regarding rumors circulating on social media about a potential merger with Shuaa Capital. GFH stated that these rumors are false, confirming that there are no discussions or agreements regarding such a merger, and no negotiations or arrangements have been made with Shuaa Capital. There is no impact from this clarification, and there are no previous relevant disclosures. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

Dubai Investments PJSC has renewed its agreement with xCube LLC to continue as the Liquidity Provider for its shares. This move aligns with Dubai Investments' strategy to enhance shareholder value and market performance by improving the tradability of its shares. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, emphasized the commitment to market liquidity and long-term shareholder value, noting an increase in trading activity and investor confidence. Saad Chalabi, CEO of xCube, highlighted the effectiveness of their data-driven approach to liquidity provision. Dubai Investments, established in 1995, is a diversified investment group in the UAE, managing a broad portfolio of businesses across various sectors.

S&P Global Ratings and Moody's have upgraded Emaar Properties' credit ratings due to its strong financial performance and robust revenue visibility. S&P raised Emaar's long-term issuer credit rating to BBB+ with a stable outlook, while Moody's upgraded it to Baa1 with a stable outlook. These upgrades apply to Emaar's senior unsecured debt as well. As of March 2025, Emaar reported a revenue backlog of approximately AED 127 billion, indicating strong revenue and cash flow visibility through 2028. S&P's decision was influenced by Emaar's record-high backlog and healthy presales in the UAE, along with a net cash position and low leverage. Moody's noted a significant reduction in Emaar's adjusted debt and a decrease in the debt-to-equity ratio from 2020 to March 2025. Mohamed Alabbar, Emaar's Founder, expressed pride in the recognition from the rating agencies, attributing it to the company's strategic strength, asset quality, and disciplined financial management.

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, won three global awards at the International District Energy Association (IDEA) Conference and Exhibition in Minneapolis, USA. Empower received two gold awards for 'Total Number of Buildings Committed' and 'Total Building Area Committed' for district cooling services outside North America, and an 'Innovation Award Honorable Mention' for optimizing a district cooling plant using machine learning. This marks the eleventh time Empower has won these awards, having previously won in various years since 2005. CEO Ahmad Bin Shafar expressed pride in the recognition, attributing it to continuous innovation and investment in modern technologies like artificial intelligence and machine learning, which enhance energy efficiency and service quality. He praised the team spirit at Empower and extended gratitude to the company's employees for their efforts in achieving these accolades.

Nasdaq Dubai has announced the listing of a USD 500 million Additional Tier 1 Sukuk by Sharjah Islamic Bank (SIB), bringing SIB's total Sukuk listings on the exchange to USD 2.5 billion. This issuance, compliant with Basel III regulations, attracted significant interest from regional and international investors, supporting the bank's long-term growth plans. The listing also highlights Dubai's role in advancing the Islamic capital markets ecosystem. With this addition, the total value of Sukuk listed on Nasdaq Dubai has reached USD 95.7 billion, reinforcing its status as a major venue for Islamic fixed-income securities. Nasdaq Dubai's broader debt capital market now exceeds USD 136 billion across 160 listings, showcasing the growing international confidence in Dubai as a financial hub.