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On July 8, 2024, a letter was addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, informing him that the Board of Directors of Amlak Finance PJSC held a meeting on the same date. During the meeting, routine business matters were discussed. The letter was signed by Lama Takieddin, Head of Corporate Governance and Company Secretary, and a copy was sent to the Securities & Commodities Authority.
Emirates Central Cooling Systems Corporation PJSC (Empower) has launched a Summer Campaign to encourage customers in Dubai to reduce their cooling energy consumption and bills. The campaign aims to educate consumers on the importance of energy conservation, the high costs associated with producing and delivering energy, and the benefits of efficient cooling practices. Empower's CEO, Ahmad bin Shafar, highlighted that the campaign includes eight practical tips for consumers, such as setting the AC thermostat to 24°C, keeping filters clean, and sealing window cracks. The initiative aligns with Dubai's goals to reduce electricity and water consumption and become a global hub for the green economy by 2050. Empower emphasizes the role of responsible consumer behavior in preserving natural resources and protecting the environment.
The Dubai Financial Market (DFM) has released the margin parameters for various futures contracts effective from July 9, 2024. The parameters include base margin percentages and currency requirements for contracts involving companies like Air Arabia, Al Ansari, DEWA, and others, with margin percentages ranging from 5% to 13%. Details on the methodology for margin calculation and eligible margin types can be found in the Derivatives Clearing Guidelines and Procedures available on the Dubai Clear website. The announcement and further information are accessible on the DFM website. The document notes that the information is subject to change and emphasizes that it does not replace the official Dubai Financial Market Regulated Derivative Contract Trading Regulation.
GFH Financial Group B.S.C. (GFH) announced that its global asset management arm, GFH Partners Limited (GFH P), based in the Dubai International Financial Centre, has successfully launched and closed its seventh investment fund focused on logistics and industrial assets in the United States. This investment is expected to positively impact the Group's financial statements and increase its returns. For more details, refer to the attached release. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
On 8 July 2024, the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange was informed about the Fourth Board Meeting of the year for Abu Dhabi National Company for Building Materials (BILDCO). The meeting is scheduled for Thursday, 11 July 2024, at 14:00 PM. The agenda includes approving the minutes of the third Board of Directors meeting of 2024, reviewing and discussing the formation of the Board of Directors and its committees along with their granted powers, and addressing any other matters.
Agthia Group PJSC, a leading food and beverage company in the MENA region, has opened a new state-of-the-art protein manufacturing facility in Jeddah Industrial City 1, Saudi Arabia, with an investment of AED 90 million. The facility spans over 9000 square meters and has an annual production capacity of over 9000 tons. It features two production lines capable of manufacturing more than 50 distinct SKUs and is supported by a diverse supply chain of over 69 raw materials. The facility includes in-house microbiology and sensory evaluation laboratories and is accredited by the Saudi Food & Drug Authority and certified by the BRCGS Global Food Safety Standard. This investment aligns with Saudi Vision 2030 and Agthia's strategy to become a leader in the F&B sector by 2025. The facility aims to meet the growing demand for protein products in the GCC region, enhance market presence, and contribute to the diversification and growth of Agthia's regional product portfolio.
HAYAH Insurance Company (P.J.S.C) has announced the nomination period for membership on its Board of Directors, which will be open from July 9, 2024, to July 18, 2024. Shareholders or candidates meeting the nomination criteria can apply by submitting their applications either at the company's headquarters in Abu Dhabi or through the company's website or email. Applications must include the candidate's biography and the type of membership they are seeking (Executive Member, Non-Executive Director, Independent Member). General conditions include: 1. One Board Member will be elected. 2. The nomination period will be open for at least 10 days, as per Article 9 of the Board of Directors Resolution No. (3 R.M) of 2020. 3. Candidates must meet criteria set by Federal Law No. (22) of 2021 and the Board of Directors Resolution No. (3 R.M) of 2020. 4. Required documents must be attached to the application as per Article 10 of the Board of Directors decision No. (3 R.M) of 2020. 5. Candidates cannot transfer their nomination to another person after the nomination period ends. 6. The list of candidates will be published on the company's website and bulletin board on August 1, 2024. 7. The list of candidates will also be provided to the Central Bank and the Securities and Commodities Authority after the nomination period ends.