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The total number of shares stands at 892.119 million shares
10:11 AM DFM executes Khaleeji Commercial Bank's capital reduction
Dubai - Mubasher: The Dubai Financial Market (DFM) has announced that the reduction of Khaleeji Commercial Bank's capital was executed, according to a press release on Wednesday. Following the reduction, the total number of shares stands at …
The bank reported a 7% rise in total assets last year
29 March 01:11 PM Al Baraka Bank South Africa sees 11% higher net income in 2019
Mubasher: The net income of Al Baraka Bank South Africa, a subsidiary of Al Baraka Banking Group, has increased by 11% to ZAR 73 million ($5 million) in 2019 when compared to 2018. The bank reported a 7% rise in total assets to ZAR 7.35 billion ($ …
President of Egypt, Abdel Fattah El-Sisi
27 March 06:07 PM Egypt calls for African debt relief by G20 countries
Cairo – Mubasher: President of Egypt, Abdel Fattah El-Sisi, has presented an initiative to the G20 group to consider easing debt burdens on African countries, in light of the impacts of the coronavirus (COVID-19) crisis on the continent’s …
Shareholders approved a capital reduction to BHD 89.21 million
25 March 02:12 PM Khaleeji Commercial Bank's OGM nods to delist from DFM
Mubasher: The ordinary general meeting (OGM) of Khaleeji Commercial Bank (KHCB), listed on Bahrain Bourse, has approved to delist the bank's shares from the Dubai Financial Market (DFM). During the meeting, the shareholders have authorised the …
The distribution of cash dividends will be at $0.02 per share
24 March 12:35 PM Al Baraka's OGM enacts 2% dividends for 2019
Mubasher: The shareholders of Al Baraka Banking Group, listed on Nasdaq Dubai and Bahrain Bourse, have approved distributing cash dividends for 2019. The dividends represent 2% of the share's nominal value, or 2 cents per share, aggregating at an …
The new agenda will be announced in due course
23 March 12:06 PM KFH amends timeline of AUB’s acquisition deal
Mubasher: Kuwait Finance House (KFH) has amended the timeline applicable to its acquisition offer of Bahrain’s Ahli United Bank’s (AUB) total issued share capital in response to Kuwait’s decision to suspend work in public entities until 12 April, …
A 10% bonus share issue has been approved
19 March 03:09 PM AUB approves 5 cents/shr dividends for 2019
Mubasher: Ahli United Bank’s (AUB) ordinary general meeting (OGM) on Thursday approved distributing a cash dividend of $0.05 per share, or 20% of the ordinary share’s nominal value, for the fiscal year (FY) 2019. In addition, a 10% bonus share …
Burgan Bank's stake represents 129.48 million shares of Bank of Baghdad
16 March 12:42 PM Burgan Bank plans to sell 52% stake in Bank of Baghdad
Mubasher: Burgan Bank said that it plans to transfer the ownership of its 51.8% stake in Bank of Baghdad to the United Gulf Holding Company (UGH), which is a sister company of the Kuwait-based bank. The stake represents nearly 129.48 million …
The economic stimulus package aims to mitigate the impacts of the coronavirus epidemic
16 March 11:36 AM Abu Dhabi introduces 16 economic initiatives amid COVID-19 outbreak
UAE – Mubasher: The government of  Abu Dhabi has launched 16 initiatives under the emirate’s economic stimulus package, aiming to protect the economy from the repercussions of the coronavirus (COVID-19) epidemic, as directed by Crown Prince of Abu …
The programme aims to mitigate the impacts of the COVID-19 outbreak
15 March 01:57 PM SAMA supports SMEs with SAR 50bn against COVID-19
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has introduced the “Private Sector Financing Support Program” with a total value of about SAR 50 billion. The programme aims at supporting the private sector to promote economic growth …
The Murabaha facility will be used to finance new projects
12 March 11:55 AM MIS renews SAR 60m Murabaha facility deal
Riyadh – Mubasher: Al Moammar Information Systems Co (MIS) announced renewing and amending a Sharia-compliant credit facility agreement worth SAR 60 million with Gulf International Bank (GIB). The one-year Murabaha facility will be used to finance …
NBK Group CEO, Isam Al Sager
11 March 01:27 PM NBK Bahrain records unchanged profit in FY19
Mubasher: The National Bank of Kuwait-Bahrain (NBK Bahrain), the branch of the leading Kuwaiti bank National Bank of Kuwait (NBK), registered net profits of BHD 117.890 million (KWD 94.9 million or $314.6 million) during 2019, remaining relatively …
The USD fell by EGP 0.04 to EGP 15.64 for buying at EG Bank
9 March 01:35 PM USD rises against EGP at local banks on Monday
Cairo – Mubasher: The Egyptian pound exchange rate went down against the US dollar at local banks on Monday amid rising concerns over the spread of the new coronavirus (COIVD-19). The USD grew by EGP 0.05 to EGP 15.64 for buying and EGP 15.74 for …
The fund is currently at the cabinet’s disposal
8 March 03:12 PM Kuwait C. bank sets up KWD 10m fund to combat coronavirus
Mubasher: The Central Bank of Kuwait (CBK) has established a KWD 10 million ($32.8 million) fund financed by Kuwaiti banks to promote the government’s efforts against the spread of the China coronavirus (COVID-19).    The initiative is part of the …
The greenback went down to EGP 15.57 for buying at SAIB
5 March 04:43 PM EGP returns to upward trend against USD on Thursday
Cairo – Mubasher: The US dollar exchange rate returned to its downward trend against the Egyptian pound at the end of Thursday’s transactions at local banks.  The USD declined by EGP 0.04 to EGP 15.59 for buying and EGP 15.69 for selling at Al …
KHCB will consider delisting the bank’s shares from DFM
3 March 05:01 PM Khaleeji Commercial Bank to discuss delisting from DFM
Mubasher: The ordinary general meeting (OGM) of Khaleeji Commercial Bank (KHCB) will vote on delisting the bank’s shares from the Dubai Financial Market (DFM). During the meeting, set to be held on 25 March, shareholders will authorise the board …
The acquisition deal will be executed on 18 May
1 March 03:10 PM KFH's takeover of AUB set to take place in May
Mubasher: Kuwait Finance House (KFH) announced that the initial offering of its acquisition offer for 100% of Ahli United Bank (AUB) capital shares will begin on 26 March 2020 until 15 April 2020, and could be extended.  The acquisition is set to …
KFH will provide further details in a timely manner
1 March 09:49 AM KFH submits document for Bahrain’s AUB acquisition deal
Mubasher: Kuwait Finance House (KFH) has submitted the document for its acquisition offer for 100% of Ahli United Bank (AUB) capital shares. The step comes in line with the requirements of the regulatory authorities in Kuwait and …
The USD dropped to EGP 15.65 for buying at ADIB
17 February 02:43 PM USD falls against EGP at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound at 12 local banks on Monday. The USD dropped to EGP 15.65 for buying and EGP 15.75 for selling at Abu Dhabi Islamic Bank (ADIB) and EGP 15.63 for buying and EGP …
Earnings per share (EPS) rose to 9.8 fils in 2019.
13 February 10:25 AM Al Salam Bank records BHD 21m profits in 2019; dividends proposed
Mubasher: Al Salam Bank – Bahrain reported a net profit attributable to shareholders worth BHD 21.1 million, 14% year-on-year (YoY) higher than BHD 18.5 million. Earnings per share (EPS) stood at 9.8 fils by 2019 year-end, as compared to 8.7 fils …
Kuwaiti public debt declined by 4.61% MoM
12 February 12:29 AM Kuwait’s public debt hits over KWD 2bn in December 2019
Mubasher: Kuwait’s public debt instruments dropped 41.5% year-on-year at the end of December 2019, according to data released by the Central Bank of Kuwait (CBK). The GCC country’s debt instruments went down to KWD 2.072 billion ($6.822 billion) …
Kuwaiti M2 declined to KWD 38.129 billion
12 February 12:16 AM Kuwait’s M2 falls 1.24% YoY in December 2019
Mubasher: Kuwait’s local liquidity went down by 1.24% year-on-year at the end of December 2019, according to data released by the Central Bank of Kuwait (CBK). Kuwaiti money supply (M2) declined to KWD 38.129 billion ($125.534 billion) last …
Opening the new Operations Centre
11 February 06:07 PM GIB inaugurates new operations centre in Al Khobar
Mubasher: Gulf International Bank (GIB) announced the official opening of its operations centre in Al Khobar, Saudi Arabia. The new facility was inaugurated by Prince Saud bin Nayef Al Saud, Governor of the Eastern Province. The opening ceremony …
Vezeeta currently operates in 50 cities in Egypt, Saudi Arabia, Jordan, and Lebanon
11 February 03:02 PM Vezeeta raises $40m in Series D funding round led by Gulf Capital
Cairo – Mubasher: Vezeeta, the leading digital healthcare startup in the Middle East and Africa, raised $40 million in a Series D funding round led by Gulf Capital, the largest alternative asset management company in the Middle East. Saudi …
The bank recorded a loss per share of 15.86 fils last year
10 February 04:15 PM Khaleeji Commercial Bank turns to BHD 15m loss in 2019
Mubasher: Khaleeji Commercial Bank, listed on Bahrain Bourse (BHB) and the Dubai Financial Market (DFM), incurred losses of BHD 14.93 million in the fiscal year 2019, against a profit worth BHD 658,760 in 2018. The bank registered a loss per share …