Latest Threads

The United Fidelity Insurance Company has invited its shareholders to its general meeting on April 23, 2024. The meeting will be held online or at the company's branch in Dubai, UAE. The agenda includes reviewing and approving the company's financial reports for the year ended December 31, 2023, a proposal not to distribute cash dividends for the same year, discharging the Board of Directors and External Auditors of liability for their 2023 activities, and appointing External Auditors for 2024. Shareholders can appoint another person to attend the meeting and vote on their behalf through a special power of attorney.

TAQA, an integrated utility company, and JERA, Japan's largest power generation company, have partnered with Saudi Aramco Total Refining and Petrochemical Company to develop an industrial steam and electricity cogeneration plant. The plant, expected to be operational in 2027, will supply up to 475MW of power and about 452 tons of steam per hour. The facility, located in the Eastern Province of Saudi Arabia, will provide electricity and steam for the Amiral petrochemical complex. The plant will also meet stringent efficiency standards and has provisions for future carbon dioxide capture and hydrogen co-firing. The project will be developed by TAQA and JERA on a 25-year build, own, and operate basis.

The Independent Auditor's Report for The National Investor Pr. J.S.C. and its subsidiaries has been completed, with audits conducted on the consolidated financial statements for the year ending 31 December 2023. The auditor has concluded that the statements present a fair representation of the company's financial position, performance, and cash flows, in accordance with International Financial Reporting Standards (IFRS). The audit was conducted following International Standards on Auditing (ISAs) and the International Code of Ethics for Professional Accountants (IESBA Code). A key focus of the audit was the valuation of the Group's financial instruments, due to the significance of these instruments and the related uncertainty.

On 27th March 2024, GFH Financial Group B.S.C announced that it has purchased 45,582,673 of its own shares (treasury shares). This acquisition increased the company's total holding of treasury shares from 268,565,465 (representing 7.01% of the total issued shares) to 314,148,138 (representing 8.20% of the total issued shares). The decision to purchase these shares was made by the company's board of directors in September 2021 and was approved by the authority in March 2024. The average purchase price was USD 3110 per share, which represents 1.189% of the issued capital.

On March 27, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, by Rayan Omer, Board Secretary of Takaful Emarat Insurance PSC. The letter informed that the Board of Directors meeting, which was scheduled to take place on March 29, 2024, at 11 am, has been postponed. The new date for the meeting will be disclosed to the shareholders officially at a later date.