Latest news with #Dh285
Al Etihad
15-03-2025
- Business
- Al Etihad
Al Ain Farms to acquire producer of ‘Golden Eggs' in Dh285 million deal
15 Mar 2025 11:19 REDDY (ABU DHABI)Al Ain Farms, which is a subsidiary of Ghitha Holdings, has signed a deal to acquire full ownership of Al Jazira Poultry Farm for Dh285 million. Falal Ameen, Group CEO of Ghitha Holdings, in a stock market disclosure, said a share purchases agreement was signed to this effect. 'The completion of the transaction is subject to the satisfaction of certain conditions under the agreement and receipt of regulatory approvals,' he said. Al Ain Farms, which was established in 1981 by the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, holds the distinction of being the first dairy company in the UAE. 'With a rich history spanning over four decades, Al Ain Farms continues to set benchmarks in the food industry, offering a diverse range of fresh, nutritious and high-quality products,' notes a description of the company on Ghitha Holdings' website. Al Jazira Poultry Farm, an egg production facility founded in Dubai in 1999, has grown to become the largest egg producer in the Jazira Poultry Farm's eggs, dubbed Golden Eggs, are renowned for their rich golden-yellow yolks. 'It was also the first poultry company in the region to produce value-added eggs, including DHA, Omega 3, super eggs, and Lutein-enriched eggs, as well as eggs from hens that are fed certified organic feed,' a promotional media report on the company said recently. The latest acquisition by the Al Ain Farms is expected to cement its position as the leader in the poultry sector. Ghitha Holdings, which is part of the International Holding Company (IHC), focuses on sectors related to food production, processing and distribution. It is listed on Abu Dhabi Securities Exchange (ADX) and is valued at Dh4.387 billion.
Khaleej Times
09-02-2025
- Khaleej Times
Dubai: 3 jailed for stealing Bulgari, Tiffany pieces, other jewellery worth Dh600,000
Dubai Criminal Court has sentenced two men and a woman to six months in prison and ordered them to jointly pay a fine of Dh528,000 after being found guilty of stealing jewellery worth Dh600,000. According to records, the theft happened on April 19, 2024, in a villa in the Al Barari area of Dubai. The victim, who resided in the villa, reported the theft after discovering the missing jewellery early on the morning of April 20, 2024. She later identified the recovered items as her stolen property. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Records show that the first defendant entered the villa at night, armed with two screwdrivers and a crowbar. Using these tools, he broke into a metal safe and stole an assortment of jewellery, including a Bulgari gold necklace worth Dh285,000; two Van Cleef necklaces worth Dh80,000 and Dh70,000; three Cartier gold rings valued at Dh8,000, Dh4,000, and Dh5,000 respectively; a Tiffany gold necklace worth Dh55,000; a Jennifer Meyer gold necklace worth Dh8,000; a Dior gold-plated necklace worth Dh8,000; and a Hermes gold-plated bracelet valued at Dh5,000. After committing the burglary, the man contacted the second defendant and informed him that he had acquired valuable jewellery. The second defendant agreed to purchase the stolen goods and subsequently involved his wife — the third defendant — who travelled to Dubai to assist in smuggling the stolen items out of the country. The accused woman concealed some of the jewellery in her luggage while wearing other pieces in an attempt to evade detection. However, their plan was foiled when authorities at Abu Dhabi International Airport intercepted the couple as they attempted to leave the country. A search of their belongings revealed the stolen jewellery. Meanwhile, police investigations led to the arrest of the first defendant, and a search of his residence uncovered the tools used in the burglary. During questioning, the first defendant admitted to committing the theft and provided details of how he broke into the villa, stole the safe, and later broke it open to retrieve the valuables. The second defendant also confessed to purchasing the stolen jewellery and attempting to smuggle it out of the country. His wife admitted to being aware of the crime and assisting in transporting the stolen goods. However during court proceedings, they changed their plea. All three defendants, from China, were convicted and will be deported after completing their sentences. If they fail to pay the fine, they will have to serve a day in prison for each Dh100.
