Latest Threads on News from companies

The Dubai Financial Market (DFM) announced an adjustment to its Equity Futures Contracts for Dubai Islamic Bank (DIB) following the shareholders' approval of a cash dividend of AED 0.45 per share. The adjustment will take effect on March 21, 2025, which is the ex-dividend date. The futures contracts affected are DIB FUT for April, May, and June 2025. The price adjustment involves multiplying the previous day's settlement price by an adjustment ratio of 0.940318. The adjusted prices for trading on March 21, 2025, will serve as the reference prices. The announcement is available on the DFM website, and the information is subject to change. The DFM Regulated Derivative Contract Trading Regulation will prevail in case of any inconsistency.

On March 20, 2025, Aramex PJSC held a meeting chaired by Mr. Mohamed Juma Alshamsi, with a quorum of 60.88% of capital. The meeting, conducted electronically and in-person in Dubai, approved several resolutions for the year ending December 31, 2024. These included the approval of the Board of Directors' report, the Auditor’s report, the company's balance sheet, and profit and loss account. The recommendation not to distribute cash dividends was also approved, along with the Board of Directors’ remuneration of AED 4,400,000. The members of the Board and the external auditors were absolved from any liability. Ernst & Young was appointed as the auditors for the financial year ending December 31, 2025, with fees set at AED 6,941,214. The meeting also approved the Board Members’ Remuneration Policy, with no special resolutions taken. The meeting details were authorized by Amanda Dahdah, Governance Officer and Board Secretary.

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has reiterated its commitment to environmental protection by using treated water in its district cooling operations to conserve fresh water resources. This announcement coincides with World Water Day on March 22. Empower's CEO, Ahmad bin Shafar, stressed the importance of water for sustainable development and climate change adaptation. Empower has increased its Reverse Osmosis treatment capacity to improve water recycling efficiency, with 8.3% of water used in 2024 coming from recycled sources, primarily treated sewage effluent. This initiative aligns with Dubai's mandate to use alternative water sources in district cooling to protect water reserves. Empower calls for public efforts to conserve natural resources for future generations.