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Aramco has set the selling price of propane for April futures at $230 per tonne
31 March 02:55 PM Saudi Aramco lowers propane price to $230/ton in April
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the selling price of propane for April futures at $230 per tonne, down from $430 per tonne in March. Aramco further announced, as cited by Reuters, that the selling price of …
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 ($5 million) in 2019 when compared to 2018. The bank reported a 7% rise in total assets to ZAR 7.35 billion ($ …
The distributions will be paid after five business days following the maturity date
25 March 02:18 PM Kuwait Insurance nods to 30 fils/shr dividend for FY19
Mubasher: The ordinary and extraordinary general assembly meetings of Kuwait Insurance Company approved the proposed cash dividend distribution of 30 fils per share or 30% of the share’s nominal value for the fiscal year (FY) 2019, after excluding …
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 …
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 12:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
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, …
The new decision will support the company’s operation once the travel halt is lifted
23 March 09:37 AM Jazeera Airways cancels 2019 dividends amid COVID-19 uncertainties
Mubasher: The board of Jazeera Airways has cancelled the proposed cash dividends distribution and recommended not to distribute any dividends for the fiscal year (FY) ended on 31 December 2019 in an attempt to curb the fallout from the coronavirus …
Dividends stand at BHD 17.73 million
22 March 06:21 PM Al Salam Bank to distribute 4% dividends, 4% bonus shares
Mubasher: Shareholders of Al Salam Bank, listed on the Dubai Financial Market (DFM) and Bahrain Bourse, have approved the distribution of dividends for 2019. Dividends stand at BHD 17.73 million, representing 8% of the company’s capital, according …
Amin Nasser, President and CEO of Aramco - (Photo Archive)
22 March 01:08 PM Aramco closely monitoring coronavirus situation – CEO
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is closely monitoring the situation of the coronavirus (COVID 19) outbreak on a daily basis, Saudi Press Agency (SPA) reported. Aramco has developed emergency and prevention plans …
Company's gas sale contracts not affected by fluctuating oil prices
22 March 09:56 AM Dana Gas operations remain stable despite COVID-19
Abu Dhabi - Mubasher: Dana Gas has confirmed that the coronavirus (COVID-19) outbreak has not impacted its exploration and production operations and facilities in the Kurdistan Region of Iraq (KRI) and Egypt.   Sold under long term gas sale …
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 …
Aramco enjoys the lowest oil production cost per barrel in the world
18 March 06:34 PM KSA orders Aramco to set output at 12.3m b/d
Riyadh – Mubasher: The Saudi Ministry of Energy has directed the Saudi Arabian Oil Company (Saudi Aramco) to continue to supply crude oil at a level of 12.3 million barrels per day (b/d) over the coming months, Saudi Press Agency (SPA) reported. …
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 Bridge offers access to major European cities, including Paris and London
16 March 10:37 AM Investcorp takes over Coca-Cola Belgium HQ for EUR 88m
Mubasher: Investcorp announced that its European real estate business has acquired The Bridge, a single let office and research and development (R&D) asset in Brussels, from a wholly-owned subsidiary of the Coca-Cola Company for EUR 88 million …
Jazeera Airways' fleet includes 14 aircrafts
15 March 04:53 PM Jazeera Airways puts entire fleet at disposal of Kuwait
Mubasher: Jazeera Airways has placed its 14-aircraft fleet of at the disposal of the Kuwaiti government, as part of its national duty as the country faces the outbreak of the new coronavirus (COVID-19). The Gulf state can use the airline’s fleet …
The move helps efforts across the kingdom to limit the spread of the new coronavirus
15 March 02:17 PM stc employees to work remotely for two weeks
Riyadh – Mubasher: The Saudi Telecom Company (stc) announced that 3,000 employees will start working remotely as of Sunday for two weeks, in line with efforts to combat the spread of the new coronavirus (COVID-19). The initiative is also part of …
Keypoint Trust currently owns 285.884 million shares in GFH
15 March 10:54 AM Keypoint raises ownership in GFH to 7.8%
Mubasher: Keypoint Trust has increased its stake in GFH Financial Group from 7.24% to 7.77% of the group's total paid-up capital. Therefore, the company currently owns 285.884 million shares in GFH, held in Bahrain Bourse and the Dubai Financial …
DXB Entertainments has closed its parks till the end of the month
15 March 10:30 AM DXB Entertainments halts operations over coronavirus fears
Dubai – Mubasher: DXB Entertainments has temporarily closed all its theme parks until 31 March to face the coronavirus (COVID-19) outbreak and re-evaluate the situation globally. The closure of the theme parks comes in line with the direction of …
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 …
The MSC is determined by the government as per the Hydrocarbons Law
11 March 11:07 AM Saudi energy ministry directs Aramco to raise oil output to 13m bpd
Riyadh – Mubasher: The Saudi Ministry of Energy directed the Saudi Arabian Oil Company (Saudi Aramco) to increase its maximum sustainable capacity (MSC) to 13 million barrels per day (bpd) from 12 million bpd. The MSC is determined by the …
Aramco will provide its customers with 12.3m bpd
10 March 12:52 PM Aramco to raise crude oil supply to 12.3m bpd in April
Riyadh – Mubasher: Saudi oil giant Aramco will increase its crude oil production by 300,000 million barrels per day (bpd) over the company’s maximum sustained capacity (MSC) of 12 million bpd.  Therefore, the company will provide its customers …
Dana Gas’ natural gas constitutes 75% of production
9 March 09:53 AM Natural gas accounts for 75% of Dana Gas’ production
Abu Dhabi – Mubasher: Dana Gas’ natural gas constitutes 75% of the company’s production, according to a press release on Monday. Sold at fixed prices under long term gas sale contracts with host governments, Dana Gas' natural gas generates half of …
Keypoint Trust currently owns 243.285m shares in GFH
9 March 09:29 AM Keypoint Trust continues to raise stake in GFH
Mubasher: Keypoint Trust company has raised its stake in GFH Financial Group to 6.61% of the GFH’s total paid-up capital. Therefore, Keypoint Trust currently owns 243.285 million shares in GFH held in Bahrain Bourse and Dubai Financial Market …
A three-year deal between OPEC and Russia collapsed on Friday
8 March 01:39 PM Aramco cuts April crude oil prices as OPEC-Russia talks collapse
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) reduced its official selling price (OSP) for April for all its crude grades to all destinations following the collapse of OPEC’s oil output cut deal with Russia on Friday, according …