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 President launches initiative to transform textile sector
A national initiative to transition the textile sector in the UAE towards a circular economic system has been launched under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
UAE approves Wegovy pill for weight loss, heart health
The UAE has become the second country in the world to approve the use of Wegovy (semaglutide), an oral once-daily pill, to treat weight loss in adults with obesity and reduce the risks of heart conditions in high-risk patients.
Ajman reduces working hours for some government staff, adds more holidays
His Highness Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, has issued a law that reduces working hours for employees in the government sector, along with additional leave packages and benefits.
UAE strongly condemns Israeli settlers’ storming of Al-Aqsa Mosque
The UAE has strongly condemned the storming of Al-Aqsa Mosque's courtyards by settlers under the protection of Israeli police, including the raising of the Israeli flag in the area, stating it is "a provocation and an unacceptable act of extremism".
UAE petrol prices to increase in June, diesel to drop
Motorists will have to pay more for petrol in June as prices continue to rise for the fourth month in a row.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!
