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, Cyprus Presidents discuss enhancing strategic partnership
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has discussed enhancing cooperation with Niko Christodoulides, President of Cyprus, as part of the Comprehensive Strategic Partnership between the two nations.
Emirates, Dubai Humanitarian launch airbridge for Sri Lanka cyclone victims
Emirates Airline has set up an airbridge with Dubai Humanitarian to transport urgent relief aid to support those affected by the devastating Cyclone Ditwah in Sri Lanka.
RTA chalks out route map for Dubai Metro Blue Line
Road and Transport Authority (RTA) has outlined the route map for Dubai Metro's Blue Line that will connect 14 stations, of which five will be elevated, four underground, two "future elevated" and one underground interchange.
UAE opens Emirates Medical Centre to serve patients in Gaza
The UAE has inaugurated the Emirates Medical Centre in Khan Younis, south of the Gaza Strip, that aims to support the health sector across the territory by delivering urgent medical care.
