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One of Saudi Chemical’s projects
18 September 07:07 PM Saudi Chemical’s EGM consents to name change
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Saudi Chemical Company has approved an amendment to the second clause in the company’s articles of association. Upon the amendment, the company’s name will be changed from Saudi …
The capital decrease will have no operational impact
18 September 06:50 PM Shams’ board proposes capital decrease
Riyadh – Mubasher: The board of Tourism Enterprise Company (Shams) has recommended a capital decrease, according to a bourse statement released on Wednesday. If approved, the recommendation will see the company’s capital decline to SAR 80.69 …
UNBE logged a profit of EGP 191.4 million in H1
18 September 05:36 PM ADCB not to make MTO to acquire UNBE – Egypt’s FRA
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) said that Abu Dhabi Commercial Bank (ADCB) is not obliged to make a mandatory tender offer (MTO) to acquire a 96.64% stake in Union National Bank – Egypt (UNBE). ADCB will not make an …
Global accepted its board’s recommendation to merge with KAMCO
18 September 04:24 PM Global approves merger with KAMCO
Mubasher: The extraordinary general meeting (EGM) of Global Investment House has discussed the matters pertaining to the draft merger with KAMCO Investment Company during its meeting on 18 September 2019. Global’s shareholders have approved the …
The deal was concluded at a total value of $631 million
18 September 04:01 PM Aramco acquires Shell’s stake in Saudi refining JV for $631m
Riyadh – Mubasher: The Saudi oil giant Aramco has completed the acquisition of Shell’s 50% stake in their Saudi Aramco Shell Refinery Co (SASREF), affiliated to Shell Saudi Arabia Limited, situated in Jubail Industrial City. The deal was concluded …
Ebtikar’s has raised its stake in Masary to 54.9%
18 September 12:13 PM Ebtikar raises stake in Masary to 55%
Cairo – Mubasher: MM Group for Industry and International Trade announced that its subsidiary Ebtikar for Finance Investment has acquired an additional stake of 9.1% in Masary Smart Payment Services. Accordingly, Ebtikar’s has raised its stake in …
A total of 255.8 million bonus shares will be distributed
18 September 11:28 AM CI Capital Holding gets FRA’s approval on EGP 256m capital raise
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) approved increasing the capital of CI Capital Holding to EGP 800 million from EGP 544.18 million. The capital raise will be made through distributing 0.47 bonus share for every share …
The reduction is likely to reach normal levels by the end of September
18 September 11:16 AM Saudi Kayan sees 37% curtailment in feedstock supplies from Saudi Aramco
Riyadh – Mubasher: The Saudi Kayan Petrochemical Co, listed on the Saudi Stock Exchange (Tadawul), on Wednesday announced that its feedstock supplies from Saudi Aramco have improved after curtailment went down to 37% from 50%. The reduction is …
The shareholders have approved the formation of the Audit Committee
18 September 10:52 AM Advanced Petrochemical sees capital hike through bonus shares
Riyadh – Mubasher: The shareholders of Advanced Petrochemical Company approved the board’s recommendation to increase the share capital to SAR 2.164 billion from SAR 1.967 billion through bonus shares by one share for every ten held shares. …
Batic accepted the resignation of Fahad Al Qatami in July
17 September 01:30 PM Batic names Majed Al Eissa as new CEO
Riyadh – Mubasher: The board of directors of Batic Investments and Logistics Co has appointed Majed bin Abdullah Al Eissa as the new CEO effective from 22 September 2019. The new appointment came after the period during which Turki Al Thunayan was …
The company’s authorised capital will be increased to $1 billion
17 September 12:21 PM Maridive’s shareholders approve raising capital to $188m
Cairo – Mubasher: Maridive and Oil Services announced that its shareholders approved increasing the company’s issued capital to $188.1 million from $163.8 million during an extraordinary general meeting (EGM).  The capital increase shares will be …
The plant will have an installed capacity of 1.30 megawatt peak
17 September 12:06 PM Oman’s Majis, Unicorn Int'l partner to establish PV solar plant
Mubasher: Oman-based water solutions company Majis Industrial Services agreed with Unicorn International to set up a photovoltaic (PV) solar energy plant at Sohar port, according to the the industrial services provider’s statement. With an …
Such reduction will have no impact on the company’s liabilities
16 September 05:57 PM SPMC’s board proposes SAR 96 capital cut
Riyadh – Mubasher: The board of directors of the Saudi Paper Manufacturing Company (SPMC) recommended cutting the company’s capital by 39.2%. The company’s capital is proposed to be slashed to SAR 149 million from SAR 245 million, according to a …
The CEO’s last working day will be in December
16 September 04:53 PM Julphar’s CEO resigns; last working day in 2M
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) announced that its Jerome Carle who performs as its CEO has tendered his resignation. The board of Julphar has accepted the resignation of Carle, according to a bourse disclosure to …
DSI named new CFO in mid-July
16 September 11:28 AM DSI appoints new Investor Relations Officer
Dubai – Mubasher: Drake and scull International (DSI) announced that it has appointed Nader Mugbil as the firm’s new Investor Relations Officer (IRO) to replace the former IRO, according to a disclosure to the Dubai Financial Market (DFM) on …
The exchange ratio is about 2.326 shares of AUB Bahrain for a share of KFH
15 September 02:29 PM AUB Bahrain approves exchange ratio of merger with KFH
Mubasher: Ahli United Bank – Bahrain (AUB Bahrain) accepted the conclusions contained in the due-diligence review and valuation reports, and approved the share exchange ratio with Kuwait Finance House (KFH) by approximately 2.326 shares of AUB …
Fujairah Building Industries appoints Kaushik Das as CFO
15 September 01:55 PM Fujairah Building Industries appoints new CFO
Abu Dhabi – Mubasher: Fujairah Building Industries, listed on the Abu Dhabi Securities Exchange (ADX), on Sunday announced the appointment of Kaushik Das as its Chief Financial Officer (CFO), according to a bourse filing. It is worth noting that …
Jabal Omar Development Company's new CEO - Archive photo from Euromoney
15 September 01:08 PM Jabal Omar appoints new CEO
Riyadh – Mubasher: The board of directors of Jabal Omar Development Company approved to appoint Khalid Mohammed Al Amoudi as the company’s new CEO based on the nomination and remuneration committee’s recommendations. The newly appointed CEO will …
The roadshows will be held in Beijing, Chengdu, and Shanghai in September 2019
15 September 11:20 AM UAE’s SCTDA to organise roadshows in China next September
UAE – Mubasher: The Sharjah Commerce and Tourism Development Authority (SCTDA) on Sunday announced that it will organise roadshows in three Chinese cities as part of the Sharjah Tourism Vision 2021. The roadshows will be held in Beijing, Chengdu, …
Orient will commence construction of the branches once it gets SAMA’s final approval
15 September 09:24 AM Orient Insurance gets Saudi SAMA’s preliminary nod to establish AED 300m branches
Dubai – Mubasher: UAE-based Orient Insurance on Sunday said it has obtained the preliminary approval of the Saudi Arabian Monetary Agency (SAMA) to establish branches in the kingdom with a paid-up capital of AED 300 million. The company will …
Johan will be EITC’s CEO in early 2020
15 September 09:04 AM UAE’s EITC appoints new CEO
Dubai – Mubasher: Emirates Integrated Telecommunications Company (EITC), on Sunday announced it has appointed Johan Dennelind as its new Chief Executive Officer (CEO). Johan will be EITC’s CEO in early 2020, replacing Osman Sultan who recently …
Profit may reach EGP 1bn in 2019
14 September 06:42 PM ADIB Egypt considers capital increase – CEO
Cairo – Mubasher: Abu Dhabi Islamic Bank - Egypt (ADIB Egypt) is planning to increase its capital during next year, CEO, Mohamed Ali, said during an interview with Sky News Arabia. The amount of the increase is still under discussion and may reach …
The final decisions will be subject to the approval concerned parties
12 September 05:17 PM KFH approves exchange ratio of merger with AUB Bahrain
Mubasher: The board of directors of Kuwait Finance House (KFH) approved the advisors’ reports and due-diligence review results, in addition to the final exchange ratio between the shares of KFH stock and Ahli United Bank – Bahrain (AUB Bahrain) by …
Herfy Food’s profits shrank to SAR 40.86 million in Q2-19
12 September 10:04 AM Herfy Food to distribute SAR 1/shr dividend for H1-19
Riyadh – Mubasher: The board of directors of Herfy Food Services Company approved to distribute SAR 1 cash dividends per share to shareholders for the first half of 2019. The distributions will be paid starting Thursday, 24 October 2019, Herfy …
The MoU will help to promote efficient consumption practices
12 September 09:32 AM Abu Dhabi DoE, China’s SGCC ink MoU to support energy sector
UAE – Mubasher: The Abu Dhabi Department of Energy (DoE) has signed a memorandum of understanding (MoU) with the State Grid Corporation of China (SGCC) to bolster the energy sector in Abu Dhabi. The MoU will help to promote efficient consumption …