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Al Salam Bank has introduced a Multi-Currency Debit Card aimed at clients who frequently travel or engage in international transactions. This card allows users to link their accounts in six currencies: Bahraini Dinar, US Dollar, British Pound, Euro, Turkish Lira, and UAE Dirham, and conduct transactions without currency conversion fees. Clients can apply for the card via the bank's mobile app or at branches, and manage their currencies through an easy-to-use interface. The card complements the bank's existing foreign currency prepaid cards, providing a convenient solution for travelers and online shoppers. This launch is part of Al Salam Bank's strategy to enhance its digital offerings and strengthen its market position. For more information, clients can visit the bank's website or contact them through various channels.
Gulf Navigation Holding PJSC (GULFNAV), a maritime and shipping company listed on the Dubai Financial Market, has successfully completed its AED 500 million Mandatory Convertible Bond (MCB) offering. The total subscriptions exceeded AED 520 million, with bonds priced at AED 1.10 each, set to convert into shares by October 29, 2025. This offering is part of GULFNAV's AED 3.2 billion acquisition of Brooge Energy Limited's assets, aimed at expanding into the regional energy infrastructure sector. The funds will cover the cash component of the acquisition, while the remainder will be settled through issuing new shares and additional MCBs to Brooge. The company will not open a second tranche for major shareholders as the required amount was raised in the first tranche. Chairman Sheikh Theyab bin Tahnoon bin Mohammad Al Nahyan expressed gratitude to shareholders and stakeholders, emphasizing the company's commitment to completing the acquisition and enhancing its role in regional logistics solutions.
Gulf Navigation Holding PJSC announced the successful completion of its Mandatory Convertible Bonds (MCBs) subscription, raising over AED 520 million, surpassing the target of AED 500 million. This indicates strong investor confidence in the company's strategic direction and future prospects. The subscription process is officially closed, and there will be no second tranche for major shareholders as the required capital was fully raised in the first tranche. The MCBs will be converted into shares by October 29, 2025, as per the approved terms. The company expressed gratitude to participating shareholders and reaffirmed its commitment to transparency, regulatory compliance, and long-term value creation.
The weekly summary for DFM Regulated Short Sell Transactions from July 7th to July 11th, 2025, reports that Parkin Company P J S C had a short sell trade volume of 500 and a trade value of AED 3,165. For more information on regulated short selling, refer to the DFM Market Rules and Operational Model available on the DFM website. The announcement is also accessible on the DFM website. The document includes a disclaimer stating that the information is subject to change and that DFM is not liable for any losses resulting from the use of the data provided.
Al Firdous PJSC's Board of Directors invites shareholders to the Annual General Assembly Meeting on Friday, November 7, 2025, at 11:00 AM, either in person at Boulevard Plaza Tower 2, Dubai, or remotely. The agenda includes reviewing and approving the Board's and Auditor's reports, the Company's budget, profit and loss statement, and Integrated Report for the financial year ending March 31, 2025. The meeting will also address discharging the Board and Auditors from liability, considering recommendations against dividend distribution and board remuneration, appointing auditors for the next financial year, and appointing Eng. Mohamed Bahaa Khairy Al Qaseer to a vacant Board seat. Shareholders can delegate representatives, subject to conditions, and proxies must be submitted in advance.