The UAE's market regulator has formed a forensic audit committee to review Drake and Scull.
It's after the company’s current management blamed its previous management and Board of Directors for losses of AED 5 billion incurred in 2018.
The company had filed an official complaint with the UAE Securities and Commodities Authority to pursue action against members of the previous executive management.
They said it was done to protect shareholders’ rights.
UAE affirms targeting Iran's Pars gas field threatens global energy security
The United Arab Emirates has affirmed that targeting energy facilities linked to the South Pars gas field in Iran represents a serious escalation and constitutes a direct threat to global energy security.
UAE announces first day of Eid Al Fitr
The first day of Eid Al Fitr will be marked in the UAE on Friday, March 20.
UAE intercepts 13 ballistic missiles and 27 drones on Wednesday
UAE air defences intercepted 13 ballistic missiles and 27 drones on Wednesday, a statement from the Ministry of Defence confirmed.
UAE minister carries out stock checks at Carrefour distribution centre
UAE Minister of Economy and Tourism, Abdulla bin Touq Al Marri, has inspected the food supply and procurement operations at Carrefour distribution centre as part of efforts to ensure retailers are well stocked to meet the demands of the community.
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