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RAK Properties, a leading property developer in Ras Al Khaimah, has partnered with Commercial Bank of Dubai to secure a AED 2 billion syndicated financing facility. This strategic agreement aims to accelerate development projects in Mina Al Arab, including luxury hotels and residential communities, while also supporting the construction of green buildings with international environmental certifications. The facility is intended to provide RAK Properties with the necessary financial resources for sustainable growth and long-term liquidity. Both companies view this collaboration as a pivotal step in transforming Ras Al Khaimah into a premier destination for luxury living and investment. Senior executives from both organizations attended a signing ceremony to mark the partnership.

The letter, dated October 11, 2024, from Khaled Chaaban, Board Secretary of Union Properties PJSC, addresses an inquiry regarding the discrepancy between the estimated project value of AED 2 billion mentioned in a press release and the project cost of AED 1.15 billion stated in a disclosure. The letter clarifies that the disclosed project cost includes only construction-related expenses, excluding additional costs such as marketing, sales, management, overheads, and financing. The total project value reflects the entire project, and the company's current strategy is to retain ownership of some units to increase annual recurring income, rather than selling the entire project. Therefore, the project's value should not be calculated simply by adding construction costs and estimated profits.

The weekly trading summary for DFM Regulated Short Sell transactions from October 7 to October 11, 2024, reports that there were no RSS trades during this period. For more details on Regulated Short Selling, refer to the DFM Market Rules and Operational Model documentation available on their website. The announcement is also accessible on the Dubai Financial Market's website. Please note that the information is subject to change, and DFM is not liable for any losses incurred from the use of this data.

On 11 October 2024, Emirates NBD Bank announced that an Earnings Call Meeting is scheduled for 17 October 2024 at 2:00 PM. The meeting will discuss the financial results for the third quarter ending 30 September 2024. Further details can be found on the Emirates NBD website. The announcement was addressed to Hamed Ahmed Ali, CEO of the Dubai Financial Market, and was also copied to the Securities & Commodities Authority. The letter was sent by Dr. Ahmed Saeed Alkhalfawi, Group Company Secretary of Emirates NBD Bank.

The Board of Directors of Emirates NBD Bank (P.J.S.C) is scheduled to meet on Wednesday, 16 October 2024, at 3:30 PM. The agenda includes approving the minutes of the previous board meeting, reviewing the financial results for the three-month period ending 30 September 2024, and discussing any other business. The letter is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and is sent with a copy to the Securities & Commodities Authority. The letter is signed by Dr. Ahmed Saeed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank.

The Board of Directors of Emirates Islamic Bank (P.J.S.C) is scheduled to meet on Wednesday, 16 October 2024, at 3:00 pm. The agenda includes approving the minutes of the previous board meeting, reviewing the financial results for the three-month period ending 30 September 2024, and discussing normal business activities. The communication is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and is sent by Dr. Ahmed Saeed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank (P.J.S.C). A copy of the communication is also sent to the Securities & Commodities Authority.

GFH Financial Group B.S.C. announced that the Capital Markets Authority in Kuwait has issued a license for GFH Capital Kuwait to operate as a Subscription Agent, effective from October 10, 2024. This new development is expected to expand GFH's geographic presence and client base, and positively impact its placement activities and returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.