Latest Threads

On May 23, 2024, GFH Financial Group B.S.C announced the sale of 95,814,846 of its treasury shares, representing 2.5% of its total issued shares. The shares were sold to Mr. Abdulmohsen Rashed Al rashed and Mr. Salah Rashed Alrashed. After the transaction, the total number of treasury shares held by the company is 187,914,664, representing 4.9% of its total issued shares. The announcement was made by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group.

Abu Dhabi-based sports management company, Palms Sports, has acquired an 80% stake in Yas Physiotherapy Center, a leading musculoskeletal and sports injury treatment and rehabilitation clinic. The acquisition fits into Palms Sports' strategy of diversification and expansion into new sectors. Palms Sports, the world's largest Jiu-Jitsu training provider, views the acquisition as a way to complement its core business, offering more comprehensive services to its stakeholders and partners, and enhancing its portfolio in the healthcare sector.

H.E. Amr Al Menhali has resigned from his position as an independent Board member of Abu Dhabi Commercial Bank PJSC, effective from 24th April 2024 due to personal reasons. The Bank’s majority shareholder, One Hundred and Fourteenth Investment – Sole Proprietorship LLC, has nominated H.E. Dr. Ahmed Mubarak Al Mazrouei as a replacement. The Board of Directors approved the nomination on 12 May 2024, subject to the requirements of the Central Bank of the UAE.

H.E. Amr Al Menhali has resigned from his position as an independent board member of Abu Dhabi Commercial Bank PJSC, effective from 24th April 2024, citing personal reasons. The bank's majority shareholder, One Hundred and Fourteenth Investment – Sole Proprietorship LLC, has nominated H.E. Dr. Ahmed Mubarak Al Mazrouei as the replacement. The Board of Directors approved the nomination on 12th May 2024, subject to the requirements of the Central Bank of the UAE.

The Abu Dhabi Securities Exchange has issued a general disclosure, including a press release from Abu Dhabi National Oil Company (ADNOC), the current majority shareholder of ADNOC Drilling Company PJSC. The disclosure was signed by the Chief Executive Officer, Abdulrahman Abdulla Al Seiari, and a copy was sent to the Securities and Commodities Authority.

Dubai Insurance Company (P.S.C) has announced that credit rating agency AM Best has upgraded its Financial Strength Rating to A (Excellent) and its Long-Term Issuer Credit Rating to “a” (Excellent). The company cites the upgrade as a reflection of its strong financial standing and the increasing trust in its diverse insurance products. The firm remains dedicated to upholding its high standards and continuing its progress.

On 22 May 2024, Amlak Finance P.J.S.C held a meeting from 3:00PM to 5:00PM. All seven board members were present, achieving a 100% quorum. The board discussed normal business-related matters. The meeting was signed off by Lama Takieddin, the Head of Corporate Governance and Company Secretary.