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Emirates Central Cooling Systems Corporation PJSC (Empower), the largest district cooling services provider globally, has started supplying district cooling services to the first phase of the Al Habtoor Tower project in Dubai. The project is the world's largest residential development, covering 3,517,313 square feet. Empower plans to complete all phases of the district cooling connection by the end of 2027, with a total capacity of 7,200 refrigeration tons (RT), which is about 75% of the peak cooling demand of the Burj Khalifa. This supply follows an agreement made with Al Habtoor Group in April 2024. Empower aims to provide energy-efficient and environmentally friendly cooling services, aligning with Dubai's environmental goals and the UAE's broader objectives for sustainability. CEO Ahmad bin Shafar highlighted the company's commitment to quality, reliability, and sustainability in supporting Dubai's growth and real estate sector.
Aramex PJSC announced that Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC, has made a voluntary conditional cash offer to acquire up to 100% of Aramex's issued share capital not already owned by Abu Dhabi Ports Company PJSC. As of the announcement date, all necessary regulatory approvals and conditions have been met, making the offer unconditional. Further details on the offer's timeline and payment to eligible shareholders are included in the attached announcement.
GFH Financial Group announced the sale of 87,998,442 treasury shares, which represent 2.30% of its total issued shares, to Arzan Financial Group for Financing and Investment and its related parties. As a result of this transaction, the total treasury shares retained by the Group will be 174,438,216, accounting for 4.55% of the total issued shares. Additionally, the total shares sold to Arzan Financial Group and its related parties will amount to 117,610,197 shares, representing 3.07% of the issued shares. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
On July 21, 2025, Gamal Anwar El Sadat, a non-executive, independent board member of Aramex PJSC, resigned for personal reasons. The resignation was accepted by the Board of Directors on the same date. The document was signed by Amanda Dahdah, the Governance Officer and Board Secretary.
The Commercial Bank of Dubai (P.S.C.) has scheduled an earnings call meeting to discuss its financial results for the quarter ending on June 30, 2025. The meeting will take place on Thursday, July 24, 2025, at 3:00 p.m. Further details can be found on the bank's investor relations website. The letter is addressed to Mr. Hamed Ahmad Ali, the CEO of the Dubai Financial Market, and is signed by Mr. Ahmed Ali Al Jaziri, the Board Secretary. A copy of the letter has been sent to the Securities and Commodities Authority.
Sukoon Insurance PJSC has scheduled a Board of Directors meeting on July 23, 2025, at 10:00 am at the Swissotel Al Ghurair in Deira, Dubai, with the option to attend via Teams video conferencing. The meeting agenda includes approving the financial statements for the second quarter of the fiscal year 2025, considering proposed changes to the Audit Committee and the Nomination and Remuneration Committee, and addressing general business matters. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, with a copy to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority. The letter is signed by Jean-Louis Laurent Josi, Chief Executive Officer of Sukoon Insurance PJSC.