Latest Threads
Check out what has been happening in the community
On December 5, 2024, Sheikh Ahmed Khaled Zayed Saquer Al Nahyan resigned from his position as a member of the Board of Directors at Al Firdous P.J.S.C for personal reasons. The board plans to appoint a new member to replace him at the next board meeting and will disclose the information accordingly. This communication was addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and a copy was sent to the Securities and Commodities Authority.
On December 5, 2024, GFH Financial Group B.S.C. announced its treasury shares and liquidity providing activities for November 2024, in compliance with the Central Bank of Bahrain's requirements for monthly disclosure. The activities involved liquidity transactions by GFH’s providers, SICO in Bahrain Bourse, and BHM Capital in the Dubai Financial Market and Abu Dhabi Securities Exchange. As of November 30, 2024, GFH held 241,263,416 treasury shares, representing 6.30% of its total outstanding shares. In the Bahrain Bourse, SICO purchased 2,150,558 securities and sold 783,650 securities, with total payments of USD 723,524 and receipts of USD 264,861.
Salik Company PJSC, Dubai's exclusive toll gate operator, has been assigned strong investment-grade credit ratings by Moody's and Fitch. Moody's assigned an 'A3' rating with a stable outlook, highlighting Salik's low-risk business profile, consistent growth, and strong balance sheet. Fitch assigned an 'A-' rating with a stable outlook, citing Salik's unique market position and long-term concession agreement. Both ratings reflect Salik's robust financial position, operational strength, and strategic approach to enhancing transparency and capital market access. As of September 2024, Salik maintained a net debt/EBITDA ratio of 2.1x, well below its debt covenant, and generated significant free cash flow. The company's chairman, His Excellency Mattar Al Tayer, emphasized that these ratings confirm Salik's solid financial standing and market position.
On December 5, 2024, Salik PJSC announced that it has received strong investment-grade credit ratings from both Moody’s and Fitch Ratings. Moody’s assigned Salik an A3 rating, while Fitch gave an A- rating. These ratings highlight Salik's strong financial position, robust liquidity, and high cash flow generation. Further details will be released in a separate press statement.
The text is a formal communication regarding a resolution to be passed by the Board of Directors of Gulf Navigation Holding PJSC. The resolution, which will address regular matters and any other business of the company, is scheduled to be issued by circulation no later than 10:00 a.m. on Monday, December 9, 2024. The letter is addressed to H.E. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi. It is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.