Corporate Actions

3 hours ago SCA greenlights Dana Gas’ share buyback proposal
Abu Dhabi – Mubasher: UAE-based energy producer Dana Gas has received the approval of the Securities and Commodities Authority (SCA) to buy back 10% of its total shares. The Middle East’s largest regional natural gas company will repurchase a …
The financial impact of the divestment deal will be reflected in Q2 financials
11:08 AM Fujairah Cement exits from Sohar Cement
Abu Dhabi – Mubasher: Fujairah Cement Industries Company (FCI) completed the divestment from Sohar Cement Factory. The company noted that the financial impact of the divestment deal will be reflected in the financials of the second quarter of …
Bawan incurred a loss of SAR 218.35 million in FY18
10:50 AM Bawan to use SAR 89m statutory reserve to offset losses
Riyadh – Mubasher: The shareholders of Bawan Co. approved to use SAR 88.9 million worth statutory reserve to offset the accumulated losses that represent 13.5% of the company’s capital. Bawan’s shareholders agreed, during the ordinary general …
The capital will be raised to EGP 898.4 million
22 May 03:03 PM Egypt’s FRA mulls Beltone’s EGP 560m capital hike request
Cairo – Mubasher: The Financial Regulatory Authority (FRA) on Wednesday announced that Beltone Financial Holding has submitted documents to raise its issued capital. The disclosure form includes the board of directors’ approval to increase the …
The conduct of drivers will be analysed through the use of AI applications
22 May 01:18 PM UAE’s RTA, Indian TATA ink R&D cooperation deal
UAE – Mubasher: The UAE’s Roads and Transport Authority (RTA) and the India-based information and technology services and consulting company Tata Consultancy Services LLC (TCS) have signed a memorandum of understanding (MoU) for collaboration in …
ASCOM’s shareholders approved issuing 8 million shares
22 May 12:56 PM ASCOM’s EGM nods to EGP 80m capital hike
Cairo – Mubasher: Asek Company for Mining’s (ASCOM) shareholders approved to increase the company’s issued capital to EGP 550 million from EGP 470 million during an extraordinary general meeting (EGM). ASCOM’s shareholders approved issuing 8 …
Al Ahasa purchased a 25% stake in Twareat Medical Company
22 May 12:52 PM GAC approves Al Ahasa merger with Twareat Medical
Riyadh – Mubasher: The General Authority for Competition (GAC) approved the merger between Al Ahasa Development and Twareat Medical Company. In March, Al Ahasa acquired a 25% stake in Twareat Medical Company at a value of SAR 15 million. In the …
Port Arthur LNG delivers 45 Mtpa of clean natural gas to the global LNG market
22 May 11:51 AM Saudi Aramco unit inks HOA with Sempra LNG
Riyadh – Mubasher: Saudi Aramco’s subsidiary, Aramco Services Company, signed heads of agreement (HOA) with Sempra LNG, a subsidiary of California-headquartered Sempra Energy. The HOA involves the negotiation and finalisation of a definitive …
The company will pay total dividends of SAR 44 million
22 May 11:12 AM Walaa’s EGM approves 20% capital hike, dividends for FY18
Riyadh – Mubasher: The extraordinary general assembly (EGM) of Walaa Cooperative Insurance Company (Walaa) approved a 20% capital hike via issuing bonus shares during its meeting held on Tuesday, 21 May. The Kingdom-based company will raise its …
ECI will help UAE-based firms to carry out their international business expansion
22 May 11:06 AM UAE's Etihad Credit Insurance, Dhaman ink reinsurance agreement
UAE – Mubasher: Etihad Credit Insurance (ECI), an export credit agency owned by the UAE Federal Government, has signed a reinsurance agreement with the Arab Investment & Export Credit Guarantee Corporation (Dhaman) to bolster the UAE businesses’ …
Losses increased by 557% to KWD 4.66 million in Q1-19
22 May 10:38 AM IFA to amortise $189m losses
Mubasher: International Financial Advisors’ (IFA) board of directors approved a proposal to amortise accumulated losses at a value of KWD 57.3 million ($189 million) during a meeting held on Tuesday. The loss amortisation will be carried out …
The suspension decision will be applied to the new models only
21 May 02:01 PM MM Group’s Huawei sales not affected by Android suspension
Cairo – Mubasher: MM Group for Industry and International Trade on Tuesday announced that sales of Huawei mobile phones will not be impacted during the current period amid the US pressure on the Chinese smartphone maker. The current smartphone …
The roadshow will be carried out along with the GEMS
21 May 01:10 PM DFM to hold International Investor Roadshow in New York next June
Dubai - Mubasher: The Dubai Financial Market (DFM) will organise its International Investor Roadshow in New York for two days, 10 to 11 June 2019, in collaboration with HSBC. This comes as part of the DFM’s plan to further attract international …
EPPCO Lubricants to supply around 22,500 barrels of the products over the coming three years
21 May 12:00 PM EPPCO Lubricants, FAMCO ink lubricants supply deal
UAE - Mubasher: EPPCO Lubricants, a joint venture between ENOC Group and Chevron Al Khaleej, has signed a three-year memorandum of understanding (MoU) with Al-Futtaim Auto and Machinery Company (FAMCO), the largest construction and commercial …
The Merak-1 well will be drilled with the 6th generation drillship “Tungsten Explorer”
21 May 10:05 AM Dana Gas commences drilling operations at Egypt’s Merak-1 well
UAE – Mubasher: Dana Gas, a leading gas company based in Sharjah, announced it has begun drilling operations at its Egypt’s offshore Merak-1 well, one of three world-class exploration prospects in Block 6, on 20 May. The deep-water exploration …
Marseilia’s sales rose to EGP 140 million in Q1-19
19 May 03:21 PM Egypt’s FRA nods to Marseilia’s capital hike
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved to publish the disclosure form of Marseilia Almasreia Alkhalegeya Real Estate Investment to proceed in its capital increase procedures. The disclosure form includes the board …
“AAW is home to some of the world's leading consumer brands”
19 May 01:09 PM Kuwait’s Ali Abdulwahab, Coca-Cola ink distribution deal
Mubasher: Kuwiat's Abdulwahab Al Mutawa Commercial Co. (AAW) has signed an agreement with US-based Coca-Cola Company to distribute, import, market, and sell three new beverage brands in the GCC nation. The deal was signed on 18 April, with the …
Corporate portfolio reached EGP 11.4 billion in December 2018
19 May 12:14 PM Attijariwafa Bank mulls launching new investment arms in Egypt – Interview
By: Islam Fadl Cairo – Mubasher: Attijariwafa Bank is looking at expanding across Egypt, raising its customer base, and financing medium-sized enterprises, the head of corporate and investment banking at Attijariwafa Bank – Egypt said in an …
Amiantit will announce any further updates regarding the capital cut
19 May 11:42 AM Saudi Arabian Amiantit appoints financial advisor to cut capital
Riyadh – Mubasher: Saudi Arabian Amiantit Company approved the appointment of Wasatah Capital as the company’s new financial advisor to manage its capital reduction. Amiantit noted that it will announce any further updates regarding the capital …
Sipchem will raise its capital to SAR 7.33 billion from SAR 3.66 billion
19 May 10:58 AM Sipchem’s EGM approves boosting capital to SAR 7bn
Riyadh – Mubasher: The Saudi International Petrochemical Company’s (Sipchem) shareholders approved increasing the company’s capital to acquire all the shares of Sahara Petrochemical Company during an extraordinary general assembly (EGM) meeting …
Philippe Dupin and Ahmed Al Dhaheri at the contract signing ceremony
19 May 09:51 AM UAE’s Ali & Sons renews deal with Mobil
Abu Dhabi – Mubasher: Ali & Sons, the exclusive agent of Porsche, Volkswagen, and Audi vehicles in Abu Dhabi, and EMA Lubricants, a UAE-based joint venture between ExxonMobil and Gibca group, announced the renewal of an with the major American oil …
The decision becomes effective starting from 19 May
19 May 09:34 AM SABB Takaful names Hussam Alkhayal as new CEO
Riyadh – Mubasher: The board of SABB Takaful Company approved the appointment of Hussam Alkhayal as the company’s new CEO. The decision becomes effective starting from Sunday, 19 May, according to a recent statement to the Saudi Stock Exchange …
The new initiative is scheduled to roll out in September
19 May 09:24 AM Dubai’s Jafza to return AED 1.3bn to clients to boost economy
Dubai – Mubasher: Jebel Ali Free Zone (Jafza), a flagship free zone of DP World, announced it will be the first free zone in the UAE to return cash and bank guarantee to its clients via its new Workforce Protection Programme initiative. The new …
CIB's capital will be increased by EGP 20 billion
16 May 04:10 PM Egypt’s FRA nods to CIB’s capital hike procedures
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved to publish the disclosure form of Commercial International Bank (CIB) to proceed in its capital increase procedures.   The disclosure form includes the board of directors’ …
The loan repayment period has been extended to 2026
16 May 02:37 PM Maridive secures $196m finance
Cairo – Mubasher: Maridive and Oil Services announced that its board of directors had approved entering into a structural agreement worth $196 million to finance the existing credit facilities with several local banks under the management of Abu …