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GFH Financial Group B.S.C. announced its investment in Invenergy, a leading developer and operator of clean energy solutions, through investment vehicles managed by Blackstone's infrastructure group. This investment is expected to positively impact the Group's financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH Financial Group.
Al Salam Bank B.S.C, an Islamic Retail Bank licensed and regulated by the Central Bank of Bahrain, announced a substantial shareholder transaction involving its shares. The transaction was reported to the Bahrain Bourse and Dubai Financial Market. On January 9, 2025, Muscat Overseas Company LLC increased its direct ownership in Al Salam Bank by purchasing 30,434,107 shares, raising its ownership from 201,276,024 shares (7.33%) to 231,710,131 shares (8.43%). The announcement was made by Ali Yusuf Al Khaja, Head of Compliance and MLRO, and was authenticated with a company seal.
Dubai Insurance Company has announced that Mr. Abdullah Mohammed Alhuraiz has resigned from his position as a board member for personal reasons, effective January 7, 2025. The notification was sent by Sahem Abdelhaq, the Head of Legal, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market, on January 10, 2025.
Shuaa Capital P.S.C., a licensed financial investment company regulated by the Securities and Commodities Authority, is inviting its shareholders to attend the company's general assembly meeting. The meeting is scheduled for 3 PM on Monday, February 3, 2025, at the company's headquarters on the 32nd floor of Al Khatem Tower, Al Maryah Island, Abu Dhabi. Shareholders can also participate electronically. The agenda includes a special resolution to approve the issuance of convertible bonds totaling AED 150,000,000. These bonds are to be issued to professional investors and counterparties as per relevant regulations.
Taaleem Holdings PJSC, a leading K-12 premium education provider in the UAE, reported strong financial results for Q1 2024/25. The company achieved operating revenues of AED 306.1 million, marking a 14.8% increase compared to the previous year. Net profit rose by 46.3% to AED 68.2 million, with a margin increase to 22.3%, partly due to a one-off deferred tax from the previous year. The company saw a 12.3% increase in student enrolment and a 3.0% rise in average gross tuition fees for premium schools. Taaleem expanded its operations by acquiring Lycée Libanais Francophone Privé Meydan and assets from Amity, with a total capital expenditure of AED 437.5 million. The company's EBITDA increased by 7.6% to AED 108.0 million. The addition of two premium schools and one new PPP school increased the total number of schools to 34, with significant growth in both premium and PPP segments. However, the rapid expansion led to a temporary decline in utilisation rates for the premium segment.
Taaleem Holdings P.J.S.C. and its subsidiaries have released their unaudited interim condensed consolidated financial statements for the three-month period ending on November 30, 2024.
On January 9, 2025, Taaleem Holdings PJSC held a board meeting from 3:00 PM to 5:00 PM with seven board members present, achieving a quorum of 77.8%. The board approved and agreed to publish the Interim Condensed Consolidated Financial Statements for the three-month period ending November 30, 2024. The meeting's authorized signatory was Khalid Al Tayer, Chairman of the Board of Directors.