Latest Threads
Check out what has been happening in the community
Check out what has been happening in the community
The Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, is participating in the International District Energy Association (IDEA) Campus Energy 2024 conference in San Francisco, USA. The delegation, led by Empower CEO Ahmad Bin Shafar, will also attend an IDEA board meeting, signifying Bin Shafar's role as a board member and the first Arab representative. The delegation will tour Stanford University's District Energy Facility to explore technologies that reduce carbon emissions. Empower's participation and sponsorship of the conference aligns with its commitment to environmental conservation and its leadership in the global district cooling industry. The event also allows Empower to showcase the UAE's efforts in addressing energy and climate change challenges.
On February 15, 2024, GFH Financial Group B.S.C. announced the appointment of SNB Capital as its financial advisor. This comes following shareholder approval on April 3, 2022, for the cross-listing of the company's shares on the Saudi Stocks Exchange (Tadawul). The cross-listing is subject to Tadawul's approval and meeting all requirements set in the listing rules. Shareholders will be informed of any further developments. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH Financial Group.
The Market Operations Surveillance Department of the Abu Dhabi Securities Exchange has received a material information disclosure from Fujairah Cement Industries (PJSC). The disclosure, dated 19th February 2024, announces an extension of the temporary suspension of cement and clinker sales for 60 days from 1st March 2024, due to unforeseen technical delays in major refurbishment activities. The company expects revenue loss during this period, which will impact the financial position and results of the company's business and operations. The financial impact will be evident in Q1 and Q2 of 2024.
On 19/02/2024, Eshraq Investments PJSC issued a statement to the Abu Dhabi Securities Exchange addressing the recent increase in trading volumes of its shares. The company clarified that this activity was not due to any undisclosed material news or events. Eshraq emphasized its commitment to transparency and regulatory compliance. It highlighted a 48% year-on-year reduction in bank borrowings in its preliminary financial disclosures for 2023. The company plans to release its audited consolidated financial statements in March 2024, which will include a comprehensive analysis and a declaration of its revised corporate strategy aimed at increasing shareholder value. The Board of Directors and Executive Management team look forward to sharing this updated strategic direction with shareholders.