Day: February 19, 2024

ABU DHABI: The Securities and Commodities Authority (SCA) has invited investors to submit payment requests to claim unclaimed dividends or cash held in dormant accounts at brokerage firms.

The SCA has appointed First Abu Dhabi Bank (FAB) to handle the payment of unclaimed dividends to shareholders of locally listed public joint-stock companies prior to March 2015, according to a statement it issued today. Investors can submit their requests through email, phone, or any FAB branch across the UAE.

Applicants for unclaimed dividends must provide the following documents and information:

-Copy of the Emirates ID card (for UAE nationals/residents)

-Copy of the passport (for non-UAE nationals)

-Copy of the family book (for UAE nationals)

-Certificate from the bank specifying the account number and IBAN

-Share certificates, general assembly invitations, or any other documents evidencing ownership of shares and entitlement to dividends, if any

-The investor number, if applicable

If the shareholder is a legal
entity, a copy of the following should be provided:

-Commercial licence

-Authorised signature letter

-Passport and ID card of the authorized signatory

If the applicant is acting as an agent for the shareholder or his/her heirs, a power of attorney/succession certificate issued and approved by the relevant UAE authorities must be provided. If the power of attorney is issued abroad, it must be notarised by the UAE Embassy and the ministry of foreign affairs in the issuing country as well as the UAE Ministry of Foreign Affairs.

Applicants for cash held in dormant accounts at existing licensed brokerage firms must provide the following documents and information:

-Copy of the Emirates ID card (for UAE nationals/residents)

-Copy of the passport (for non-UAE nationals)

-Certificate from the bank specifying the account number and IBAN

-Account statement from the firm or relevant market, or any other document indicating the cash owed, if applicable

-Copy of the account opening agreement signed with the firm,
if applicable

-The investor number

If the investor is a legal entity, a copy of the following should be provided:

-Commercial license

-Authorised signature letter

-Passport and ID card of the authorized signatory

If the applicant is acting as an agent for the shareholder or his/her heirs, a power of attorney/succession certificate issued and approved by the relevant UAE authorities must be provided. If the power of attorney is issued abroad, it must be notarized by the UAE Embassy and the ministry of foreign affairs in the issuing country as well as the UAE Ministry of Foreign Affairs.

For brokerage firms whose license was revoked/operations were shut down, investors must submit their request to the SCA with all the documents mentioned earlier. They can submit their request through the SCA website, email, or call centre.

Source: Emirates News Agency

DUBAI: Dubai Electricity and Water Authority (DEWA) achieved the highest rated energy utility globally in agility according to a thorough assessment conducted by the international Business Agility Institute (BAI) of DEWA’s leadership and employees.

The assessment praised DEWA’s significant strides in turning challenges into opportunities, especially during difficult turbulent period experienced by companies globally. BAI said that DEWA has made significant agile transformation adoption in just two years, while other organisations took over five years to achieve this. The Institute also highlighted DEWA’s success in developing truly effective business agility capabilities, ahead of many organisations of similar size and complexity.

Saeed Mohammed Al Tayer, MD and CEO of DEWA, received the certificate at DEWA’s head office. Waleed bin Salman, Executive Vice President of Business Development and Excellence at DEWA; Ali Al Muwaijei, Vice President of Governance, Compliance and Agility at DEWA; and members of
the governance, compliance, and agility team at DEWA were present.

Al Tayer commented, ‘At DEWA, we realise the importance of obtaining higher levels of agility and resilience and adopting good governance to develop our capabilities to proactively manage risks and swiftly respond to challenges. This is especially important in light of the accelerating changes in the modern business environment in the public and private sectors.

DEWA’s resilience and agility played a crucial role in its success and excellence by identifying opportunities and analysing the internal and external environment. DEWA’s practices have become a benchmark for many local, regional, and global organisations. DEWA has proven its agility by focusing on customer service. We have implemented several pioneering initiatives, such as adopting ChatGPT to improve customer experience and provide our services according to the highest standards of availability, reliability, efficiency, and quality. This is part of our ongoing efforts to make use o
f the disruptive technologies of the Fourth Industrial Revolution to accelerate digital transformation and provide advanced, value-added digital services that enrich customers’ experiences and enhance their happiness.’

‘Moreover, we have adopted the smart grid technology to improve efficiency and reduce costs. We have established an Innovation Centre and a Research and Development (R and D) Centre to develop new ideas and technologies that help us stay ahead of the competition. In line with our efforts to achieve the Dubai Net Zero Carbon Emissions Strategy 2050, DEWA is implementing the Mohammed bin Rashid Al Maktoum Solar Park, with a planned production capacity of 5,000MW by 2030; the Green Hydrogen Project; the pumped-storage hydroelectric power plant in Hatta using clean energy; and other projects to increase energy efficiency,’ added Al Tayer.

‘In line with the organisational agility and change management pillar, one of the five main pillars adopted by the Dubai Future Readiness Index, and DEWA’s stra
tegy to be a fully agile utility, we aim to ensure the continuity of DEWA’s business at all times and learn the needs of stakeholders and turn them into strategic initiatives to enhance their happiness and provide services in accordance with the highest international standards,’ said Waleed bin Salman.

Source: Emirates News Agency

CAIRO: The BP’s CEO said the company plans to inject up to USD1.5 billion in exploration activities in Egypt within the next years, with the potential of pumping further investments worth nearly USD5 billion.

Murray Auchincloss stated the BP seeks to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas to speed up development and production plans to meet the growing demand of the local market and to support the State’s endeavours to export the surplus of energy.

This came as Egyptian President Abdel Fattah El-Sisi met with Chief Executive Officer of BP on the sidelines of the Egypt Petroleum Show, EGYPS 2024. The meeting was also attended by Prime Minister, Dr. Moustafa Madbouly, Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, and BP Regional President, Middle East and North Africa, Nader Zaki.

Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said President El-Sisi lauded BP’s outstanding activities, the size and scope of i
ts growing investments in Egypt, as well as its exploration projects in the oil and gas sector. The President confirmed that BP’s activities are aligned with Egypt’s goal of transforming into a regional hub for energy production and trade. President El-Sisi underscored the state’s commitment to facilitating the operations of international companies and the private sector in this domain.

Source: Emirates News Agency