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 President remembers 'courageous heroes' on Commemoration Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has said that Commemoration Day, on November 30, is a cherished national occasion on which the nation honours the memory of its courageous heroes who gave their lives for the UAE, exemplifying the highest ideals of sacrifice in defence of their country and its values.
H.H. Sheikh Mohammed: Commemoration Day earns special place in nation’s memory
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that on Commemoration Day the spirit of patriotism fills the hearts of all Emiratis, and the nation takes pride in the sacrifices of its martyrs.
UAE President offers condolences to Indonesia after deadly floods, landslides
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolence to President Prabowo Subianto of Indonesia over the victims of floods and landslides on Sumatra Island, resulting in hundreds of deaths and injuries.
Petrol prices to rise in December
The UAE’s fuel price committee has announced the petrol and diesel rates for December 2025, confirming an increase across all categories.
UAE condemns Israeli attacks on Syrian territory
The United Arab Emirates has strongly condemned the Israeli escalation in Syrian territory and the attacks targeting villages in Rif Dimashq Governorate, reaffirming its categorical rejection of any infringement on Syria’s sovereignty and threats to its security and stability.
Airbus A320 recall: UAE airlines carry out updates with 'minimal' impact
Etihad Airways and Air Arabia have confirmed minimal impact to its operations following software fixes outlined by Airbus for its global A320-series aircraft.
UAE President waives AED475 million in debt for Emiratis
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has cleared the debts of 1,435 Emirati citizens, totalling more than AED475.154 million.
Sheikh Khaled approves housing benefits package worth AED4 billion
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has approved a housing benefits package, valued at AED4 billion, to benefit 3,310 citizens across the Emirate.
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