Latest Threads on News from companies

A notification has been issued regarding a meeting of the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA). The meeting is scheduled to take place on Wednesday, November 12, 2025, at 9:00 AM. The agenda includes reviewing and considering the company's financial statements for the third quarter of 2025, along with discussing other business matters. The notice is signed by Aakash Nijhawan, Group Head of Investor Relations, on behalf of DEWA.

Tabreed, a leading district cooling company, has settled its USD 500 million Trust Certificates due in 2025, originally issued in 2018. This Sukuk was oversubscribed by 50% and carried a 5.5% profit rate. Prior to maturity, Tabreed repurchased certificates worth USD 249.5 million, and has now settled the remaining USD 250.5 million. The settlement is part of Tabreed’s proactive debt management strategy, highlighting its strong liquidity and disciplined capital structure. The company recently raised an AED 1.8 billion Shariah-compliant debt facility. Executives emphasized the company's financial strength, commitment to balance sheet resilience, and investment-grade ratings from Moody’s and Fitch.

Sean Magee, Secretary of the Board of Directors, informed H.E. Waleed Al Awadhi, CEO of the Securities & Commodities Authority, and H.E. Hamid Ali, CEO of the Dubai Financial Market, about the redemption and cancellation of US$500 million Sukuk issued in October 2018. The Sukuk matured and was redeemed as of 31 October 2025, and subsequently canceled by HSBC Bank plc. Prior to maturity, Tabreed had repurchased trust certificates worth USD 249.5 million, and the remaining USD 250.5 million has now been settled. The letter extends greetings and offers further contact for more information.

Dubai Islamic Bank has announced the opening of nominations for its Board of Directors from November 3 to November 14, 2025. Individuals meeting the necessary criteria can nominate themselves for positions as Non-Executive or Independent Directors by submitting an application via email. Nine members will be elected, and nominations must adhere to specific legal and regulatory requirements. Candidates must undergo a Fit and Proper assessment and obtain approval from the Central Bank of the UAE. Applications submitted after the deadline or without all required documents will be invalid. The list of candidates will be published two days before the Annual General Assembly Meeting, where elections will occur in 2026. Required documents include identification, clearances, qualifications, references, and declarations. Candidates may need to submit additional documentation as per regulations.