Latest Threads on News from companies
Threads on regulatory news from companies
Dubai Insurance Co. held a Board of Directors meeting on November 11, 2024, at 11:00 am at the company's head office. The agenda included approving the third-quarter financials of 2024, reviewing circular No. 1/2024 concerning insurance brokers regulation, and reviewing circular No. 4/2024 concerning fitness and proper regulation. The information was communicated by Sahem Abdel Haq, Head of Legal, to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market.
Resolution No. (520) of 2024 announces a temporary suspension of trading for Gulf Investment House Company shares on the Abu Dhabi Securities Exchange (ADX). This suspension will begin at 14:00 on November 14, 2024, to coincide with a Board of Directors meeting scheduled for that time. Trading will resume once ADX receives the results of the meeting. The resolution mandates all relevant ADX departments to implement the suspension and requires that the decision be communicated to the Securities and Commodities Authority, the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 11, 2024.
Dubai Electricity and Water Authority (DEWA) reported its highest-ever financial results for the first nine months of 2024, with a record revenue of AED 23.5 billion, marking a 6.2% increase from the previous year. The company also achieved a record EBITDA of AED 11.8 billion, up 4.71%, and cash from operations of AED 11.6 billion, up 17.83%. DEWA paid AED 3.1 billion in dividends to shareholders in October 2024. The results reflect DEWA's commitment to operational excellence, innovation, and sustainability, in alignment with Dubai's strategic goals for clean energy and net-zero carbon emissions by 2050.
On 11 November 2024, the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) held a meeting at 9:00 am. During this meeting, they approved the company's financial statements for the third quarter ending on 30 September 2024. The Board also reviewed general business matters. The notification was issued by Aakash Nijhawan, Group Head of Investor Relations, on behalf of DEWA.