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, Bahrain coordinate 100‑tonne Gaza aid shipment
Bahrain's Royal Humanitarian Foundation has dispatched a 100-tonne urgent relief shipment to the Gaza Strip in coordination with the UAE's Operation Chivalrous Knight 3 and the Emirates Red Crescent.
Child’s quad bike ride lands parent in legal trouble
Dubai Police have confiscated a recreational motorbike and taken legal action against a guardian after traffic patrols stopped a child riding on a public street, accompanied by another child.
UAE sends 30 tonnes of aid to drought-hit Kenya
The UAE has sent 30 tonnes of food aid to Kenya to support families hit by severe drought and worsening climate conditions.
UAE calls for end to crisis in Sudan at Quad meeting in New York
UAE's Minister of State, Sheikh Shakhboot bin Nahyan Al Nahyan, has stressed the need for a permanent ceasefire and an unconditional humanitarian truce in Sudan during the Quad meeting in New York.
