Latest Threads on News from companies

Takaful Emarat, a Shariah-compliant insurance provider in the UAE, has appointed Mr. Adnan Sab'a El Aish as its Chief Executive Officer. Mr. Adnan has been with the company for over nine years, previously serving as Director of Finance and Acting CEO. He has over 20 years of experience in the insurance industry. Mr. Nooraldeen Atatreh, Chairman of the Board, expressed confidence in Mr. Adnan's leadership and dedication, anticipating that he will lead the company into its next phase of growth.

Tabreed has announced the approval of its first-ever interim dividend of 6.5 fils per share, totaling AED 184.9 million, for the first half of 2025. This decision follows a record performance, with revenue increasing by 3% year-on-year to AED 1.11 billion, driven by increased cooling demand and capacity expansion. The company added a record 41.6k RT of new connections in H1 2025, nearly double the capacity added in 2024, bringing the total connected capacity to 1.37 million RT, with significant contributions from the UAE and Saudi Arabia. Additionally, Tabreed's strategic acquisitions, including PAL Cooling and the Palm Jebel Ali concession, have expanded its total site capacity to approximately 2.6 million RT, supporting long-term growth and value creation.

On 15 September 2025, a General Assembly meeting of the National Central Cooling Company PJSC ("Tabreed") was held. During this meeting, a special resolution was approved to amend Article 30 of the company's Articles of Association. The amendment involves adding a new paragraph that allows the company to distribute annual dividends based on the annual general assembly's resolution following the Board of Directors' recommendation. Additionally, the company may distribute quarterly or semi-annual dividends to shareholders from operating profits or other profits, as decided by the general assembly or the Board of Directors. The Board is authorized to adopt, make, and execute these decisions.

GFH Financial Group B.S.C. has announced a Board of Directors meeting scheduled for Thursday, November 13, 2025, at 2 p.m. Bahrain time. The meeting will address the financial results for the third quarter of 2025 and other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML, and includes the company seal and a Docusign Envelope ID.

H.E. Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), met with Fares Jadue, Mayor of Recoleta, Chile, during the International District Energy Conference for Latin America and the Caribbean in Santiago. They discussed developments in the district cooling sector and emphasized its importance for sustainable development and reducing carbon emissions. Bin Shafar expressed Empower's commitment to sharing expertise and supporting the development of a district cooling system in Recoleta. The meeting aimed to strengthen cooperation and exchange knowledge in sustainable energy solutions. Bin Shafar also presented the Mayor with a book by Sheikh Mohammed bin Rashid Al Maktoum, reflecting the UAE's approach to innovation and leadership.

Emirates Integrated Telecommunications Company PJSC, known as "du," announced the successful completion of a secondary public offering of its shares, listed on the Dubai Financial Market. The offering, launched on September 8, involved 342,084,084 shares, representing 7.55% of du's share capital. These shares were offered by Mamoura Diversified Global Holding PJSC, a subsidiary of Mubadala Investment Company, and accounted for 75% of Mamoura's stake in du. The final offer price was AED 9.20 per share, generating approximately AED 3.15 billion in gross proceeds for Mamoura. The offering consisted of two tranches: a UAE retail offer, which made up 5% of the total shares, and a global offering to qualified institutional investors, representing 95% of the shares.