Latest Threads

Empower, the world's largest district cooling services provider, has launched a summer campaign encouraging residential and commercial customers in Dubai to adopt energy-saving practices to reduce district cooling consumption and lower bills. The campaign, under the slogan 'Set and Save at 24°C', promotes setting air conditioner thermostats to 24°C and implementing measures like closing curtains and sealing gaps to minimize heat infiltration. Empower emphasizes routine maintenance of cooling systems to ensure efficiency. CEO Ahmad bin Shafar highlighted the company's commitment to supporting the UAE’s sustainability goals and promoting environmentally responsible practices. The campaign, running for the twelfth consecutive year, aims to raise awareness and encourage responsible energy consumption to support national sustainability efforts and help customers reduce their energy bills.

On July 14, 2025, the Board of Directors of Al Sagr National Insurance Company (PSC) held a meeting by circulation. During this meeting, they reviewed and approved the financial statements for the first quarter of 2025, approved the restructuring of the committees established by the Board, and discussed and approved other general topics as appropriate. The results were disclosed to Hamed Ahmed Ali, the CEO of Dubai Financial Market, with a copy sent to the Securities and Commodities Authority.

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.