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 expresses solidarity with India over flood victims
The UAE has expressed its solidarity with India over the victims of floods and landslides caused by heavy rainfall, which resulted in dozens of deaths and injuries, as well as significant damage.
UAE-backed solar project boosts healthcare in India
More than 200,000 people in rural India have access to more reliable healthcare after the Zayed Sustainability Prize's Beyond2020 initiative completed six solar-powered health centres in the southern state of Karnataka.
UAE leaders congratulate new UK PM Andy Burnham
United Arab Emirates President His Highness Sheikh Mohamed bin Zayed Al Nahyan led the messages of congratulations and support for the United Kingdom's new Prime Minister Andy Burnham.
UAE strongly condemns renewed Iranian attacks on Bahrain and Kuwait
The United Arab Emirates has condemned the renewed attacks by Iran targeting Bahrain and Kuwait with missiles and drones.
