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29 September 05:37 PM SABIC’s CEO resigns; Acting CEO announced
Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) has announced the resignation of Yousef Abdullah Al Benyan from his position as the company’s CEO. Al Benyan’s resignation came into effect on 28 September, as he was named the Minister …
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29 September 03:39 PM Alexandria New Medical Center's MTO exceeds EGP 535m
Cairo – Mubasher: The Egyptian Exchange (EGX) on Thursday announced that a mandatory tender offer (MTO) has been carreid out on the issued shares of Alexandria Medical Services - Alexandria New Medical Center at a value totalling EGP 535.42 …
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29 September 12:22 PM El Shams Pyramids approves $40m capital hike; in talks for new loan
Cairo - Mubasher: El Shams Pyramids for Hotels and Touristic Projects’ board of directors approved the feasibility study conducted to increase the company’s capital by $40 million. The new capital of the EGX-listed company will stand at $89.13 …
New CEO of Jumeirah Group, Katerina Giannouka.
29 September 09:39 AM Katerina Giannouka named as Jumeirah Group’s new CEO
Dubai - Mubasher: Dubai Holding has announced the appointment of Katerina Giannouka as the new CEO of Jumeirah Group as of December 2022. Giannouka, a recognised professional in the international hospitality industry, joins Jumeirah Group with 20 …
Håkan Cervell, Vice President and Head of Customer Unit stc, Saudi Arabia and Egypt
28 September 06:02 PM Ericsson appoints Cervell as Vice President for Saudi Arabia, Egypt
Mubasher: Nasdaq-listed Ericsson has named Håkan Cervell as the Vice President and Head of  Customer Unit stc in Saudi Arabia and Egypt, according to a press release. Cervell, who assumed his new post on 26 September 2022, has more than 30-year …
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28 September 11:49 AM Egytrans denies rumors about acquisition offer
Cairo – Mubasher: The Egyptian Transport and Commercial Services Company (Egytrans) has denied rumors about a potential acquisition offer on the company’s shares at a value of EGP 4.50 per share, noting that it has not received any offers in this …
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27 September 02:42 PM Nayifat Finance names Al Baiz as Managing Director, CEO
Riyadh – Mubasher: Nayifat Finance Company has appointed Bandar Mohammed Ahmed Al Baiz as its new Managing Director and CEO, according to a bourse filing on Tuesday. Al Baiz succeeded Abdulmohsen Abdulrahman Musaed Al Sowailem, who submitted his …
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27 September 02:14 PM Bawan appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Bawan Company has named Abdullah Abdulatif Al Fozan as the new Chairman of the board for the next three years, according to a bourse disclosure on Tuesday. The Tadawul-listed firm also appointed Raed Ibrahim Almudaiheem and …
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25 September 10:06 AM Al Sagr Cooperative submits capital cut request to CMA
Riyadh – Mubasher: Al Sagr Cooperative Insurance Company submitted a 65% capital cut request to the Saudi Capital Market Authority (CMA), according to a bourse filing on Sunday. On 6 September, the insurer’s board recommended reducing the …
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23 September 12:19 AM CMA nods to Raydan Food’s 53% capital cut
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Raydan Food Company to reduce its capital by nearly SAR 179.42 million to SAR 158.08 million from SAR 337.50 million. The new capital will be distributed over 15.80 …
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21 September 06:06 PM CMA approves Saudi Enaya’s capital reduction
Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted Saudi Enaya Cooperative Insurance Company’s request to decrease the capital to SAR 100 million from SAR 150 million. The reduced capital will be distributed over 10 million shares, …
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21 September 05:49 PM Emaar Properties’ shareholders approve Dubai Creek Harbour takeover, sale of Namshi
Dubai – Mubasher: The shareholders of Emaar Properties have greenlighted the acquisition of Dubai Creek Harbour from Dubai Holding during their general meeting on 21 September. The stakeholders also approved the sale of Namshi Holding Limited to …
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21 September 12:02 PM FRA approves launching fund to invest in Egyptian shares
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) approved setting up a new investment fund by NI Capital Holding for Financial Investments under the name, NI Capital with a cumulative periodic return (Equity Fund), to invest in …
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21 September 11:19 AM Eastern Company raises prices of Pall Mall, Viceroy cigarettes brands
Cairo – Mubasher: The board of directors of Eastern Company has approved the new price list of Pall Mall and Viceroy cigarettes brands. The price hike came into effect starting on 21 September 2022. The price of the 20-cigarette packs of Pall Mall …
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20 September 12:41 PM CMA nods to Alhokair Group’s 51.5% capital cut
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) to reduce its capital to SAR 315 million from SAR 650 million. Meanwhile, the reduced capital …
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19 September 06:07 PM SATORP announces Al Suwailem as President, CEO
Riyadh – Mubasher: Saudi Aramco Total Refining and Petrochemical Company (SATORP), a subsidiary of Saudi Arabian Oil Company (Saudi Aramco), has named Abdullah Saleh Al Suwailem as its new President and CEO. Al Suwailem, who succeeded Sulaiman …
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19 September 02:34 PM Al Sagr Cooperative Insurance appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Al Sagr Cooperative Insurance Company has named Majid Abdullah Al Seri as the board’s new Chairman, according to a bourse disclosure. The Saudi listed firm also appointed Abdul Mohsen Nafez Jaber as the Vice Chairman, while …
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19 September 02:19 PM Jazadco names Al Resheid as new CEO
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) has appointed Mohammed bin Abdullah Al Resheid as its new CEO effective from 1 November 2022, according to a bourse filing. Al Resheid has a master's degree in project and systems …
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18 September 05:31 PM Al Rajhi Bank ups stake in Alrajhi Takaful
Riyadh – Mubasher: Al Rajhi Bank has increased its stake in Al-Rajhi Company for Cooperative Insurance (Alrajhi Takaful) to 35% after obtaining the Saudi Central Bank’s (SAMA) go-ahead.  The transaction aims to strengthen the bank’s role …
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18 September 01:31 PM Arabian Drilling announces intention to list on Tadawul’s main market
Riyadh – Mubasher: Arabian Drilling Company unveiled its intention to proceed with an initial public offering (IPO) and listing on the Main Market of the Saudi Exchange (Tadawul).  The Saudi Capital Market Authority (CMA) approved on 29 June 2022 …
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15 September 04:59 PM CMA approves Saudi Paper’s capital hike request
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the Saudi Paper Manufacturing Company’s request to increase its capital by SAR 145 million by way of a rights issue. The CMA granted its approval after the Tadawul-listed company …
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15 September 04:46 PM Saudi Cable’s accumulated losses shrink to SAR 60m
Riyadh – Mubasher: The accumulated losses of Saudi Cable Company plunged by 69.40% to SAR 59.81 million as of 31 July 2022, accounting for 89.60% of the recently reduced capital. The lower accumulated losses followed a 74.60% capital cut to SAR …
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14 September 03:50 PM FRA nods to AT Lease’s EGP 150m capital raise
Cairo – Mubasher: The Financial Regulatory Authority (FRA) in Egypt has approved in principle the publication of Al Tawfeek for Financial Lease’s (AT Lease) invitation to senior shareholders for subscription in the company's capital hike. The …
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14 September 12:24 AM EBE's board nods to EGP 1.32bn capital hike
Cairo – Mubasher: The board of Export Development Bank of Egypt (EBE) has agreed to increase the issued and paid-up capital by EGP 1.32 billion to EGP 6.60 billion from EGP 5.27 billion, according to bourse disclosure. The lender noted that the …
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13 September 09:56 PM Naseej International eyes 109m capital raise via rights issue
Riyadh – Mubasher: The board of Naseej International Trading Company has suggested to increase its capital through a SAR 108.97 million rights issue, according to a bourse filing. Subject to the approval of the extraordinary general meeting (EGM), …