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Al Salam Bank, Bahrain's largest Islamic bank, has announced the launch of ASB Capital, a new asset management firm licensed by the Dubai Financial Services Authority. Based in the Dubai International Financial Centre, ASB Capital is set to launch with assets under management totaling USD 4.5 billion. The firm aims to offer a diversified wealth and asset management platform, providing access to investment opportunities typically reserved for institutional investors. ASB Capital will focus on four key areas: public markets, private markets, investment banking, and placement, targeting high net worth individuals, family offices, corporations, and institutional clients in the Middle East and Africa. The firm has partnered with a major global asset manager to introduce a specialized global equity fund and plans to enter the ETF market through a collaboration with a leading global provider. ASB Capital also intends to offer private market products, including private equity and venture capital, in partnership with established entities. The firm aims to address the growing demand for specialized asset management services in the region and is aligned with Al Salam Bank's growth objectives. ASB Capital aspires to become one of the top 10 asset managers in the region, focusing on excellence in asset and wealth management.

Resolution No. 497 of 2024 mandates the temporary suspension of trading for the shares of Emirates Telecom Group Company (Etisalat Group) PJSC. This suspension will occur on November 26, 2024, starting from 13:00, to coincide with the company's Annual General Meeting (AGM). Trading will resume once the Abu Dhabi Securities Exchange (ADX) receives the results of the AGM. The resolution requires all relevant departments at ADX to implement it and mandates its distribution to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was issued on November 4, 2024, and has been approved by the authorized person.

The Dubai Financial Market has been informed of an upcoming earnings call for Aramex PJSC, scheduled for Monday, November 11, 2024, at 3:00 PM UAE time. The meeting will discuss the company's financial results for the third quarter, which ended on September 30, 2024. The notice was sent by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

Aramex PJSC has scheduled a meeting for Thursday, November 7, 2024, at 3:00 PM UAE Time. The agenda includes the approval of the company's unaudited interim condensed consolidated financial statements for the third quarter and the first nine months ending September 30, 2024. Additionally, the meeting will cover business updates and routine matters. The notice is signed by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

Resolution No. 496 of 2024 involves the temporary suspension of trading for Gulf Medical Projects Company shares on the Abu Dhabi Securities Exchange (ADX). This suspension will begin at 12:00 on November 7, 2024, to coincide with the company's Board of Directors meeting, and will continue until ADX receives the meeting's results. The resolution mandates that all department heads at ADX implement this decision within their respective areas. It also requires the resolution to be circulated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and all ADX-accredited brokers. The resolution has been approved by the authorized person and was issued on November 4, 2024.

Takaful Emarat Insurance has announced an adjustment in its share price on the Dubai Financial Market (DFM) following an increase in the company's issued share capital by up to AED 185,000,000 through a rights issue at AED 1.00 per new share. This adjustment aims to maintain balance, transparency, and equality among shareholders who bought shares before and after the record date for the rights issue. The adjustment also recalibrates the market value of the shares due to the increased number of shares, ensuring the company's market capitalization is appropriately distributed.

BHM Capital, a leading financial institution in the UAE capital markets, reported a 6% increase in net profits for the first nine months of 2024, totaling AED 24.81 million compared to AED 23.47 million in the same period of 2023. The company's total assets grew by 17.4% to AED 1.4 billion, and total income increased by 22.57% to AED 117.9 million. The number of new client accounts rose by 334.52%, reaching 22,295. CEO Abdel Hadi Al Sa’di attributed these results to the UAE's supportive investment environment and the company's strategy of revenue diversification and investment in innovative solutions. Despite global challenges, BHM Capital's strategy has been successful. The company was also recognized as the "Best Equity Broker in Dubai" at the 2024 Annual Conference of the Arab Federation of Capital Markets.