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On Thursday, May 15, 2025, BHM Capital Financial Services P.S.C. released the results of a board of directors meeting held on Wednesday, May 14, 2025. The meeting took place from 3:30 PM to 4:30 PM, with all seven board members present, achieving a 100% quorum. During the meeting, the board approved the Q1 financial statements for 2025 and discussed other routine operational matters. The information was communicated by Abdel Hadi Al Sadi, the Chief Executive Officer of BHM Capital Financial Services P.S.C.
The Board of Directors of Gulf Navigation Holding PJSC held a meeting on 14 May 2025. During this meeting, they approved the interim financial statements for the three-month period ending 31 March 2025. Additionally, they agreed to call for a general assembly meeting, pending approval from the Securities and Commodities Authority. The general assembly will consider two main issues: a proposal to amend the company’s Articles of Association to increase foreign ownership of the company's shares, and amendments to the structure of an acquisition transaction to allow the transfer of bonds and shares from Borouge Energy Limited to third parties, including its ultimate beneficial owners.
Salama, a leading regional Takaful provider, reported AED 256 million in revenue for Q1 2025, showcasing strong performance in a challenging environment. The company's total assets reached AED 3.164 billion, with an increase in equity due to the appreciation of the Algerian Dinar and Egyptian Pound. Although net profit for Q1 2025 was AED 0.39 million, compared to AED 17.6 million in Q1 2024, the previous year's profit included a one-off gain. Excluding this, core performance remained resilient. Total comprehensive income improved to AED 4.07 million from a loss of AED 23.1 million in the same period last year, driven by favorable foreign currency adjustments. Salama's outlook was affirmed by S&P Global Ratings with a 'BBB-' rating and a Developing outlook, indicating potential for sustainable growth. The company is focused on sustainable growth, strategic renewal, and transformation under the leadership of Group CEO Mohamed Ali Boubane, emphasizing disciplined underwriting, operational excellence, and digital innovation.