The UAE's market regulator has formed a forensic audit committee to review Drake and Scull.
It's after the company’s current management blamed its previous management and Board of Directors for losses of AED 5 billion incurred in 2018.
The company had filed an official complaint with the UAE Securities and Commodities Authority to pursue action against members of the previous executive management.
They said it was done to protect shareholders’ rights.
UAE–Pakistan ties in focus during high-level talks
The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan has held talks with Pakistan’s Prime Minister Shehbaz Sharif on strengthening cooperation between the two countries.
Dubai NYE: Road closures, traffic plan announced
Dubai authorities say they are fully prepared to deliver a safe, world-class New Year’s Eve celebration across the emirate.
UAE President arrives in Pakistan on official visit
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has arrived in Islamabad on an official visit to Pakistan.
UAE welcomes Saudi Arabia’s role in supporting Yemen
The UAE has welcomed Saudi Arabia's efforts in supporting the security and stability of Yemen, commending the Kingdom's role in fulfilling their goals for development and prosperity.
