Management Decisions

(Photo Credit: Company website)
23 April 05:38 PM Tokio Marine not to finalise deal with insurance co
Riyadh – Mubasher: Alinma Tokio Marine’s board decided not to proceed with a technical agreement with Tokio Marine and Nichido Fire Insurance Co Ltd. The insurance company was supposed to provide Alinma Tokio a number of technical services, …
(Photo credit: Omani Ministry of Tourism website)
23 April 04:40 PM Oman ministry to develop Al Nakheel ITC
Mubasher: The Omani Ministry of Tourism will sign an agreement on Monday with Palm Beach Housing for developing the integrated tourism complex (ITC) Al Nakheel at a value of OMR 2.655 million, according to Oman News Agency (ONA). This project is …
(Photo Credit: Company Website)
23 April 10:19 AM Ooredoo to be listed on Maldives bourse
Doha – Mubasher: Ooredoo has announced its plans to list 40% of Ooredoo Maldives on the Maldives Stock Exchange (MSE) on 30 April. Ooredoo Maldives plans to offer the securities through an initial public offering (IPO) open to Maldivian and …
(Photo credit: Company's website)
20 April 04:10 PM Orange Egypt appoints Atef Helmy as senior advisor
Cairo – Mubasher: Orange Group has appointed Atef Helmy to be its senior advisor for the Middle East and Africa (MEA) region, according to a statement released Thursday. The decision confirms the group’s confidence in Egyptian cadres, particularly …
Photo Credit: Arabianeye-Reuters
20 April 02:14 PM Boubyan International to reduce capital
Mubasher: The extraordinary general meeting (EGM) of Boubyan International Industries Holding approved shrinking the capital and using the legal reserve to offset its accumulated losses. The company will reduce the capital to KWD 15 million from …
(Photo Credit: Arabianeye-Reuters)
20 April 10:36 AM Al Hassan Engineering approves sale of land
Mubasher: The extraordinary general meeting (EGM) of Al Hassan Engineering on Wednesday approved the sale of one of its lands in Gala Heights in Wilayat Boucher. This land is allocated for residential and commercial use with an area of 20,010 …
(Photo Credit: Company website)
20 April 10:33 AM CMA nods to Nama Chemicals’ capital cut
Riyadh - Mubasher: The Capital Market Authority (CMA) approved Nama Chemicals’ request to decrease its capital by 81.7%. The capital would be reduced to SAR 235.2 million from SAR 1.29 billion and subsequently the number of shares will decrease …
(Photo Credit: Company website)
20 April 10:26 AM Bawan to distribute SAR 1.15/shr dividends for 2016
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Bawan on Wednesday approved the distribution of SAR 1.15 per share, or 11.5% of capital, in cash dividends for 2016, totalling SAR 699 million. The EGM authorised the board of directors …
Photo Credit: Arabianeye-Reuters
19 April 02:42 PM IPG to pay KWD 4.57m dividends, raise capital
Mubasher: The ordinary general meeting (OGM) of Independent Petroleum Group (IPG) approved distributing 30% of capital as cash dividends for fiscal year 2016. The company will pay 30 fils per share to the entitled shareholders, with a total of KWD …
(Photo Credit: Arabianeye-Reuters)
18 April 03:19 PM MSM to suspend trading 25 April
Mubasher: The Muscat Securities Market (MSM) reported that it will suspend trading on Tuesday, 25 April, on the occasion of the Israa and Mi’raj holiday. Trading will resume on Wednesday, 26 April, the bourse added on Tuesday.
(Photo Credit: Company Facebook page)
18 April 12:45 PM Mazaya Qatar EGM approves capital hike
Doha – Mubasher: Mazaya Qatar Real Estate Development Company on Tuesday announced that its extraordinary general meeting (EGM) has approved raising its capital. The EGM nodded to increasing the company’s capital by 5% representing 5,512,500 …
(Photo credit: Arabianeye - Reuters)
18 April 12:07 PM Memphis Pharmaceutical profits jump 267% in 9M
Cairo – Mubasher: Memphis Pharmaceutical and Chemical Industries’ profits rose in the first nine months of fiscal year 2016/2017 by 267% to EGP 2.2 million, compared to EGP 0.6 million for the same period of FY15/16. The company had earlier posted …
(Photo Credit: Bank's official Facebook page)
18 April 10:48 AM Al Ojaili named Bank Dhofar CEO
Mubasher: Bank Dhofar on Tuesday announced appointing Abdul Hakeem Omar Al Ojaili as its CEO. Al Ojaili was the bank’s acting CEO since October 2013, and has more than 26 years of banking experience, according to a filing to the Muscat Securities …
(Photo Credit: Company website)
18 April 10:43 AM Sanad’s board chairman resigns
Riyadh – Mubasher: Sanad Cooperative Insurance announced the step down of the chairman of the board, Abdul Hamid Abdullah Fattah, on 16 April. The company noted that the resignation was due to personal reasons and will be effective as of the date …
(Photo Credit: Arabianeye-Reuters)
17 April 06:52 PM QNB sets a PT for QIB’s stock at QAR 104
Doha – Mubasher: Qatar National Bank (QNB) has set its price target (PT) for Qatar Islamic Bank's (QIB) stock at QAR 104, after QIB reported positive financial results for the first quarter of 2017. The PT is 2.9% higher than the stock's closing …
(Photo Credit: Arabianeye-Reuters)
16 April 12:00 PM Dana Gas OGM OKs no dividends, buyback programme
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Dana Gas has approved a share buyback programme and a plan pertaining to the Employees’ Incentive Scheme. The two programmes are awaiting approval by the Securities and Commodities …
(Photo Credit: Press release)
16 April 10:11 AM Bloom Properties starts construction for Dubai property project
Abu Dhabi - Mubasher: Bloom Property announced it will begin the main construction works for its Bloom Heights project, located in Jumeirah Circle Village in Dubai. The company appointed Becon Construction, which specialises in general contracting …
(Photo Credit: Arabianeye-Reuters)
16 April 09:02 AM Tihama EGM OKs 50% capital cut
Riyadh – Mubasher: Tihama Advertising and Public Relations Co’s extraordinary general meeting (EGM) has approved a capital reduction of 50% to cover accumulated losses. Tihama’s capital will accordingly be reduced to SAR 75 million from SAR 150 …
Photo Credit: Arabianeye-Reuters
15 April 09:58 AM Shuaa to manage Dar Al Takaful AED50m issuance
Dubai - Mubsher: Shuaa Capital announced that it was selected as the lead manager and expert for Dar Al Takaful's proposed issuance, according to a press release. Dar Al Takaful recently announced strategies to elevate AED 50 million through legal …
(Photo credit: Arabianeye-Reuters)
14 April 02:57 PM Kingdom Holding changes dates for Q2, Q3 dividends
Riyadh – Mubasher:  Kingdom Holding Company (KHC) announced date changes for its planned dividend distributions for the second and third quarters of 2017, according to a bourse filing. The previous dates coincided with weekends and therefore …
Photo Credit: Arabianeye-Reuters
13 April 05:01 PM Marine Services board proposes entity conversion
Mubasher: The board members of Contracting and Marine Services recommended converting the legal entity of the company to be a closed shareholding company instead of a public joint-stock firm. The structure of the closed shareholding company …
(Photo Credit: Arabianeye-Reuters)
13 April 02:27 PM Al Ramz approves AED 0.05/shr dividend for 2016
Dubai – Mubasher: Al Ramz Corporation Investment and Development’s shareholders approved distributing a cash dividend of 5 fils per share, representing 5% of the company’s capital, totalling AED 27.5 million for 2016. The shareholders also …
(Photo Credit: Arabianeye-Reuters)
13 April 01:32 PM Advanced Petrochemical Q1 payout to begin late April
Riyadh – Mubasher: Advanced Petrochemical Company on Thursday announced that its registered shareholders will receive a cash dividend of SAR 0.70 per share for the first quarter of 2017. Payouts will begin on Thursday, 20 April 2017, for …
Photo Credit: Arabianeye-Reuters
13 April 10:26 AM Sanad board nods to capital hike
Mubasher: The board members of Sanad Holding Co approved raising the company's capital by KWD 31.73 million. The capital increase will be through adding KWD 21.73 million via the creditors’ account, and KWD 10 million via a private subscription by …
(Photo Credit: Arabianeye-Reuters)
13 April 09:37 AM Arabtec unveils AED 1.5bn recapitalisation programme
Dubai – Mubasher: Arabtec Holding on Thursday revealed updates for its recapitalisation programme through which it aims to raise AED 1.5 billion in equity and extinguish its accumulated losses. The programme involves a rights offering to raise AED …