Latest Threads

On 15th April 2024, the Thuraya 3 (T3) satellite experienced an unexpected anomaly that caused a service outage affecting both voice and packet services. The satellite, which is in a geostationary orbit at 98.5° E longitude, provides L-band mobile satellite services mainly over South and East Asia and the Pacific region. Thuraya has initiated standard incident management procedures and is investigating the incident in collaboration with the satellite manufacturer. The satellite remains safe and under control. Updates will be provided to the market and customers through official communication channels. Thuraya also has a dedicated 24/7 customer service line to address any inquiries related to this incident.

Agthia Group PJSC has notified its shareholders about the upcoming Annual General Assembly Meeting, scheduled for 23 April 2024 at 11:00 AM. The meeting can be attended either physically or virtually. To access the meeting and complete the registration formalities, shareholders are advised to use the link www.smartagm.ae. The notice is also copied to the Securities and Commodities Authority (SCA) in Abu Dhabi, UAE.

The text discusses the modification of the Commercial Companies Law No. 2 of 2015, which has been replaced by the Commercial Companies Law No. 32 of 2021. The Central Bank of the United Arab Emirates (CBUAE) notes that this change impacts the establishment of companies. The text also references a previous amendment to the company's foundational system in accordance with the Commercial Companies Law No. 2 of 2015, which was approved in a special resolution by the General Assembly of the company on 24/04/2016.

Alpha Dhabi Holding (ADH) will sell a 49% stake in its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, an Abu Dhabi-based investment firm. ADH will retain a 51% shareholding in ADCH, with the partnership aiming to strengthen ADCH's position in the industry and support the development of Abu Dhabi. ADCH has a history of contributing to significant projects in the UAE, including the Zayed National Museum and the Guggenheim Museum. The transaction is subject to customary closing conditions, including regulatory approvals.

The Board of Directors at SHUAA Capital PSC has announced an extension to the nomination period for the company's board membership until April 17, 2024. Interested shareholders who fulfill the nomination conditions can apply for board membership. The application should include a brief resume and the type of membership the applicant is nominating for. The election is for five board members and candidates must meet the conditions set out in Federal Law No (32) of 2021, among other regulations. After the nomination period closes, the company will post the names of candidates and related information on its website and bulletin board, and provide the list to the Securities and Commodities Authority and Dubai Financial Market.