Latest Threads on News from companies

On May 24, 2024, Mr. Mohamed Alsayed Alhashmi was appointed as a member of the Board of Directors of the Islamic Arab Insurance Company - Salama P.S.C. This appointment was made following his nomination by the Board of Directors and approval by the Central Bank of the United Arab Emirates.

Dubai Electricity and Water Authority (DEWA) has signed a memorandum of understanding (MoU) with Parkin, Dubai's largest supplier of paid public parking facilities, to increase the number of EV 'Green Charger' stations. The initiative aims to enhance sustainability and promote the use of electric vehicles (EVs). As part of the UAE's commitment to sustainability and green mobility, the move supports the National Electric Vehicles Policy and the Dubai Green Mobility Strategy 2030. As of April 2024, there were over 30,000 EVs in Dubai, with the figure expected to rise in the future. The number of customers registered with the EV Green Charger initiative also increased to over 15,000 by March 2024.

The Board of Directors of Takaful Emarat Insurance PJSC has invited its shareholders to the annual general assembly meeting, which will be held both physically and electronically on Friday, 14 June 2024. The agenda includes reviewing and approving the Company’s Board of Directors report, the Auditor’s Report, the Internal Shariah Supervisory Board’s Report, and the Company’s balance sheet for the year ended 31 December 2023. The meeting will also appoint members of the Internal Shariah Supervisory Committee, discharge the members of the Board of Directors and the auditors from liability for the year ended 31 December 2023, appoint the auditors for the year 2024, and approve the reinstatement of the Company Articles of Association. A special resolution will be considered regarding the continuation or dissolution of the company's activity prior to its prescribed term, in accordance with federal law.

Resolution No. 420 of 2024 addresses the temporary suspension of trading on the shares of the United Fidelity Insurance Company (P.S.C). The suspension is due to the company's failure to submit the results of their Board of Directors meeting. The suspension will start from 24th May 2024 until the company discloses the meeting results. All department heads in ADX are required to implement this resolution in their respective fields. The resolution is to be circulated to the Securities and Commodities Authority (SCA), the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorised person and issued on 24/05/2024.

On 24th May 2024, Presight, a leading big data analytics company, and Dell Technologies announced a strategic partnership to accelerate digital transformation and innovation across various sectors. They aim to integrate advanced technologies and develop Smart City solutions that incorporate green technologies and liquid cooling systems to reduce environmental impact and enhance efficiency. The partnership also focuses on driving AI research and development, aiming to create more livable, efficient, and sustainable urban environments through technology and big data analytics.

The Board of Directors of Invictus Investment Company PLC conducted a virtual meeting on May 23, 2024. The board unanimously approved a binding offer to buy a majority stake in an agro-food manufacturing company based in North Africa. This acquisition aligns with Invictus' growth strategy and will have a direct synergy with its current agro-commodity trading business. The board also approved the transaction authorities to execute all binding documentation to complete the transaction.

The Arabian Scandinavian Insurance Company (P.L.C) Takaful – ASCANA Insurance, also known as Sukoon Takaful, with a paid-up capital of 154,000,000, has announced a Board of Directors meeting. The meeting is scheduled for Wednesday, 29th May 2024, at 12:00 pm, at the head office of Sukoon Insurance in Dubai and will also be accessible via 'Teams' video conferencing. The agenda includes a general review of the company's business. The notification was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of Licensing, Supervision, Enforcement Affairs at the Securities and Commodities Authority in Abu Dhabi.