Latest Threads

du, a leading telecom and digital services provider in the UAE, announced plans to build a new hyperscale data center valued at approximately 2 billion AED. This initiative significantly increases du's data center capacity and enhances its position as a key data center provider in the region. The data center will be developed in phases, with Microsoft as the main tenant. CEO Fahad Al Hassawi highlighted the project as a major step in du's strategy to expand beyond traditional offerings and support the growing demand for AI, sovereign cloud, and increased capacity. This development underscores the importance of technological advancements in enhancing economic landscapes and community standards, reinforcing the UAE's status as a global leader in technology and sustainability. Currently, du operates five data centers in the UAE, providing secure and scalable digital infrastructure.

Orient Takaful PJSC, with a paid-up capital of 200 million dirhams, is registered under Federal Law No. (6) of 2007. The company is preparing for a board of directors' circular resolution on April 25, 2025, to review various operational activities. The communication is addressed to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, and Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. The announcement is signed by Syed Muhammad Asim, CEO of Orient Takaful. The company is a subsidiary of Orient Insurance PJSC and is located in Dubai, UAE.

The text is a formal notification regarding a meeting of the Board of Directors for Dubai Refreshment P.J.S.C. The meeting is scheduled for Tuesday, 29 April 2025, at 10:00 AM, and will be held both at the company's premises in Dubai Investment Park 2 and via online video technology. The agenda includes reviewing and approving the interim financial report for the first quarter of 2025, as well as discussing internal matters and making necessary decisions. The letter is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and is signed by Karem Mahmoud, Director of Legal at Dubai Refreshment P.J.S.C.

Union Properties PJSC announced the outcomes of its Annual General Meeting, where a special resolution was approved to reduce the company's total issued share capital by 33.4% to address accumulated losses of approximately AED 1.43 billion. This was achieved by utilizing the full statutory reserve to offset AED 437.95 million of these losses. The meeting highlighted the company's focus on sustainable growth and shareholder value, with Chairman Mohamed Fardan Ali AlFardan discussing the company's financial performance. Union Properties reported an operating profit of AED 161.8 million, a 59% increase, and a total comprehensive income of AED 395 million. Revenue from customer contracts rose to AED 528.7 million, reflecting the company's ongoing operational performance and strategic growth.

BHM Capital Financial Services, a private joint stock company regulated by the Securities and Commodities Authority (SCA) in the UAE, issued a notification regarding the resolutions from its General Assembly meeting held on April 21, 2025. The resolutions included a capital increase and a share buyback program. The capital increase is intended to enhance the company's financial capabilities and support its strategic goals, allowing for future expansion. The share buyback reflects management's confidence in the company's position and operations, aiming to add value for shareholders when the current share price does not reflect its intrinsic value. These strategic decisions aim to enhance financial flexibility, support expansion plans, strengthen investor confidence, and achieve sustainable value for shareholders. The notification was submitted through the EFSAH electronic system and addressed to Mr. Hamed Ahmad Ali, CEO of Dubai Financial Market.

The Dubai Financial Market (DFM) has announced the speaker lineup and agenda for the 3rd MENA Capital Market Summit, scheduled for May 6-7, 2025, at Madinat Jumeirah, Dubai. This event will gather over 1,500 participants, more than 100 global speakers, and 200 industry partners to discuss trends affecting global and regional capital markets. Key topics include the impact of technology on market infrastructure, IPO trends, cross-border capital flows, the rise of retail investors, and private market transformations. Notable speakers include H.E. Helal Saeed Almarri, Ken Robins, Richard Cormack, Simon Williams, and Lord Stephen A. Carter. The summit will feature keynote speeches, panel discussions, and sector-specific sessions. It aims to enhance collaboration, policy dialogue, and investment ties, contributing to Dubai's status as a global financial hub. A new feature, The Hub, will offer practical engagement opportunities, including partner presentations, fireside chats, and demonstrations of DFM’s investor platforms.