Construction
Drake & Scull Reports $1.23 Billion Loss; Fires CEO, CFO

(Bloomberg) — Drake & Scull International fired its chief executive officer, chief financial officer and chief legal officer as the Dubai-based contracting and engineering firm posted a record loss.
Read: Emirates NBD CFO to Leave
The board approved and ratified to terminate the services of group CEO Tawfiq Abu Soud, CFO Khaled Jarrar and chief legal officer Mohamed Ghanem, according to a statement. The company will be managed by an executive committee until replacements have been found.
Read: Carlos Ghosn Indicted on New Charges
Read: Rethinking What to Wear for Goldman Sachs’s Flexible Dress Code
Drake & Scull, which has been suspended from trading since November, said its loss widened to 4.5 billion dirhams ($1.23 billion) last year from 1.18 billion dirhams. Revenue slumped to 798 million dirhams from 2.64 billion dirhams.
-
Banking & Finance2 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines4 weeks ago
OER, May 2025
You must be logged in to post a comment Login