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Salik Company PJSC, Dubai's exclusive toll gate operator, has been assigned strong investment-grade credit ratings by Moody's and Fitch. Moody's assigned an 'A3' rating with a stable outlook, highlighting Salik's low-risk business profile, consistent growth, and strong balance sheet. Fitch assigned an 'A-' rating with a stable outlook, citing Salik's unique market position and long-term concession agreement. Both ratings reflect Salik's robust financial position, operational strength, and strategic approach to enhancing transparency and capital market access. As of September 2024, Salik maintained a net debt/EBITDA ratio of 2.1x, well below its debt covenant, and generated significant free cash flow. The company's chairman, His Excellency Mattar Al Tayer, emphasized that these ratings confirm Salik's solid financial standing and market position.

On December 5, 2024, Salik PJSC announced that it has received strong investment-grade credit ratings from both Moody’s and Fitch Ratings. Moody’s assigned Salik an A3 rating, while Fitch gave an A- rating. These ratings highlight Salik's strong financial position, robust liquidity, and high cash flow generation. Further details will be released in a separate press statement.

The text is a formal communication regarding a resolution to be passed by the Board of Directors of Gulf Navigation Holding PJSC. The resolution, which will address regular matters and any other business of the company, is scheduled to be issued by circulation no later than 10:00 a.m. on Monday, December 9, 2024. The letter is addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. It is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

Salik Company PJSC, the exclusive toll gate operator in Dubai, has been named the official mobility partner for the Future Sustainability Forum 2024. The event will take place on December 4 and 5 at Madinat Jumeirah and will gather global leaders and experts to promote sustainable practices. Salik's partnership aligns with its commitment to sustainable transportation and supports the UAE's Net Zero 2050 initiative. CEO Ibrahim Haddad emphasized Salik's dedication to environmental standards and innovative solutions in green mobility. The forum will provide a platform for Salik to showcase its sustainability projects and engage in discussions on future mobility solutions.

A meeting of the Board of Directors of the Commercial Bank of Dubai PSC is scheduled for Wednesday, 11th December 2024, at 9 a.m. The agenda includes approving the minutes of the previous meeting held on 23rd October 2024, discussing normal business activities, and addressing any other business matters. The notification is issued by Mr. Ahmed Ali Al Jaziri, the Board Secretary, with a copy sent to the Securities and Commodities Authority.

Emirates Central Cooling Systems Corporation PJSC (Empower) has begun operations at its new District Cooling plant in Jumeirah Beach Hills, Dubai. The plant, upon full completion, will have a total production capacity of 48,000 refrigeration tons (RT) and will serve prominent hospitality and residential projects in the Jumeirah area, including the Burj Al Arab and Jumeirah Beach Hotel. The plant adheres to international standards and sustainable building practices, integrating with the local architectural aesthetics. Empower's CEO, Ahmad Bin Shafar, highlighted the company's commitment to providing high-quality, environmentally friendly cooling services, reinforcing Jumeirah's status as a premier residential and tourist destination.