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.
FTA applies AED 2.9bln VAT refund for 35,000 UAE Nationals
The FTA announced that the cumulative total of approved applications by UAE nationals who received VAT-refunds for the expenses they have incurred for the construction of their newly built residences reached 34,900 applications valued at AED 2.9 billion.
UAE President receives Ras Al Khaimah ruler
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has welcomed His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, at Qasr Al Shati in Abu Dhabi.
UAE condemns targeting of Saudi Hospital in Sudan
The United Arab Emirates has condemned the targeting of the Saudi hospital in El Fasher in western Sudan, which resulted in a number of deaths and injuries to innocent people, denouncing it as a blatant violation of international humanitarian law.
UAE leaders congratulate Indian President on Republic Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Droupadi Murmu of India on the occasion of her country's Republic Day.
