Latest Threads on News from companies

Americana Restaurants International PLC, located at Al Sarab Tower in Abu Dhabi, UAE, announced the completion of a share buyback transaction. The buyback was approved by the Abu Dhabi Securities Exchange (ADX) on May 9, 2024, and by the company's AGM on April 24, 2024. The transaction, conducted through International Securities LLC, involved the repurchase of 2,000,000 shares at an average price of AED 2.726 per share on August 15, 2024. To date, the company has bought back a total of 6,380,733 shares, with 18,619,267 shares remaining to be purchased. The announcement was signed by Saqib Muhammad Sabir Awan, the Authorized Signatory and Secretary of the Board.

The General Assembly meeting of HAYAH Insurance Company has been postponed until the necessary regulatory approval is obtained. The new date for the meeting will be announced later.

Fujairah Cement Industries (P.J.S.C) has announced the opening of nominations for membership on its Board of Directors. Shareholders who meet the necessary conditions can submit their applications from August 19, 2024, to August 28, 2024, at the company's head office in Dibba, Fujairah. Applicants must include an introductory profile and specify the type of directorship they are seeking (Executive, Non-Executive, or Independent). Only one board member will be elected. Nominees must comply with the Federal Decree-Law No. 32 of 2021 and the SCA Board of Directors Decision No. 3/CH of 2020, along with the company's Articles of Association. The list of candidates will be published on August 30, 2024, and the Securities and Commodities Authority will be informed of the candidates' names after the nomination period closes.

Agility Public Warehousing Company K.S.C.P. and its subsidiaries have released their unaudited interim condensed consolidated financial information as of June 30, 2024.

Islamic Arab Insurance Co. (Salama) PJSC and its subsidiaries have released their review report and interim condensed consolidated financial statements for the period ending 30 June 2024. These statements are unaudited.

Salama, the largest Takaful solutions provider in the UAE, reported a 67% increase in net profit for the first half of 2024, reaching AED 20.53 million compared to AED 12.26 million in the same period in 2023. Takaful revenue was AED 528.58 million, and total assets rose modestly to AED 3,701.08 million. Other operating income saw a significant increase of 277%, despite challenges such as the depreciation of the Egyptian Pound. The company's performance coincides with the appointment of new Board members, including H.E. Fahad AlQassim as Chairman and Mr. Fareed Lutfi as Vice Chairman, both bringing extensive experience in finance and insurance. CEO Walter Jopp highlighted the positive impact of the company's customer-focused approach, strategic partnerships, and digitization initiatives. Salama aims to sustain its growth momentum and continue contributing to the UAE's progress as a Shariah-compliant market leader. Recent developments include a revamped website, a new office in Abu Dhabi, and strategic management appointments.