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 refutes Iranian allegations at BRICS meeting
The UAE has strongly rejected Iranian allegations and threats targeting its sovereignty and national security, reaffirming its right to respond to any hostile actions in line with international law.
Dubai to launch drone delivery services at parks, beaches
Dubai is set to roll out drone delivery services across selected public parks and beaches as part of its push to enhance smart mobility and visitor convenience.
UAE, India ink defence, energy partnerships as Sheikh Mohamed meets Modi
The UAE and India have agreed the framework for a strategic defence partnership following talks between President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi on Friday.
UAE issues advisory over Danalac infant formula
UAE authorities have confirmed that Danalac infant formula is not registered in the country and has not been imported through official channels.
H.H. Sheikh Mohammed opens DEWA's 'largest, smartest net-zero energy' HQ
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated Dubai Electricity and Water Authority's headquarters - Al Shera’a (known as sail in Arabic) - in Al Jaddaf.
UAE to restore Umayyad Mosque in Syria's Damascus
The UAE has announced the restoration of the historic Umayyad Mosque in Damascus with the support Her Highness Sheikha Fatima bint Mubarak, Mother of the Nation.
WATCH: Dubai driver caught for reckless stunts on high-speed highway
Dubai Police have detained a driver and impounded his car with a release fee of AED 50,000 after his reckless stunts on a highway endangered the lives of other motorists.
UAE brokers new round of Russia-Ukraine prisoner exchange
The UAE has successfully mediated another exchange of prisoners of war between Russia and Ukraine, involving 205 captives from each side.
H.H. Sheikh Khaled briefed on West-East oil pipeline project
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has been briefed on the West-East Pipeline oil project that is expected to double ADNOC's export capacity through Fujairah.
Dubai's RTA impounds over 9,000 cars in 2025 for illegal parking
Dubai's Roads and Transport Authority (RTA) on Friday said it impounded a total of 9,753 vehicles in the year 2025 for parking rule violations.
UAE condemns attack on Indian-flagged ship off Oman coast
The UAE has strongly condemned an attack targeting an Indian-flagged commercial ship off the coast of Oman, warning that the incident threatens international maritime security and the stability of critical shipping routes.
UAE, UK ministers discuss regional stability, bilateral ties
A high-level UAE–UK meeting in London has focused on security developments in the Middle East and the repercussions of recent Iranian missile and drone attacks targeting civilian sites in the UAE.
H.H. Sheikh Hamdan reviews operations, developments at Jebel Ali Port
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister, has visited Jebel Ali Port to review operations and examine ongoing efforts to strengthen Dubai’s role as a global trade hub.
Drugs hidden inside passenger’s body seized at Abu Dhabi Airport
A drug smuggling attempt involving more than 1.4 kg of cocaine hidden inside a passenger’s body has been foiled at Abu Dhabi's Zayed International Airport.
UAE President, Montenegro PM discuss stronger bilateral cooperation
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with Montenegro’s Prime Minister Milojko Spajić, who is on a working visit to the UAE.
Fujairah says pipeline work triggered fire in petroleum industries area
Authorities in Fujairah have clarified that smoke seen in the Emirate's industrial area was caused by an "accidental fire" during routine pipeline maintenance work.
Yas Island announced as location for Sphere Abu Dhabi project
Abu Dhabi's Department of Culture and Tourism and Sphere Entertainment Co. have announced Yas Island as the location for Sphere Abu Dhabi.
Warning issued on dangers of sudden road stops after 1 dead, 19 injured
Dubai Police have issued a warning after a truck crashed into a bus that had broken down on Al Yalayis Street, near Sheikh Zayed bin Hamdan Bridge, leaving one dead and 19 injured.
UAE says reports of Israeli PM Netanyahu's visit 'entirely unfounded'
The UAE has denied reports circulating online claiming Israeli Prime Minister Benjamin Netanyahu visited the country or that an Israeli military delegation had been received in the Emirates.
UAE launches platform to help Emiratis choose 'right academic, career paths'
Authorities in the UAE have unveiled a platform to help Emirati students choose the right academic and career paths, by tracking global trends, analysing skills’ gaps, and finding the right programme and job opportunities.
The UAE has strongly rejected Iranian allegations and threats targeting its sovereignty and national security, reaffirming its right to respond to any hostile actions in line with international law.
Dubai is set to roll out drone delivery services across selected public parks and beaches as part of its push to enhance smart mobility and visitor convenience.
The UAE and India have agreed the framework for a strategic defence partnership following talks between President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi on Friday.
