Corporate Actions

The Egyptian authority will get Euro 130 million from the EBRD
18 February 04:54 PM Egypt to obtain Euro 330m in loans to develop Cairo Metro Line 1
Cairo – Mubasher: The Egyptian National Authority For Tunnels at the transport ministry has approached banks and European institutions for Euro 330 million in loans to develop Cairo Metro Line 1. The Egyptian authority will get Euro 130 million …
Dice aims to inaugurate 48 branches during 2018
18 February 03:02 PM Dice gets $3m loan from QNB AlAhli
Cairo – Mubasher: Dice Sport and Casual Wear on Sunday has signed a $3 million medium-term loan agreement with Qatar National Bank Al Ahli (QNB AlAhli). Dice aims to inaugurate 48 branches during 2018 in a bid to increase its market share in the …
Zohr's gas output is expected to reach 1 billion cubic feet per day (Bcf/d) by the first half of 2018
18 February 12:10 PM France’s Engie to provide 3 LNG cargoes for Egypt in Q2-18
Cairo – Mubasher: The Egyptian Natural Gas Holding Company (EGAS) has agreed with Engie, the France-based natural gas and electricity supplier, on receiving three cargoes of liquefied natural gas (LNG) in the second quarter of 2018, two sources at …
Go’s EGM on 13 February approved amortisation of SAR 157.5 million from its accumulated losses.
18 February 10:43 AM Go’s accumulated losses drop to SAR 225.95m of its capital
Riyadh – Mubasher: Etihad Atheeb Telecommunication (Go) on Sunday announced that its accumulated losses decreased to SAR 225.95 million, representing 47.82% of the telecommunications provider's capital after reduction. The Saudi Arabia-based firm …
The transaction was executed for 242 fils per share
18 February 10:21 AM GBK board member sells stake for 242 fils/shr
Mubasher: The board member of Gulf Bank of Kuwait (GBK) Badr Abdelmohsen Algean has sold about 92,610 of the bank’s shares during the trading session on Thursday, 15 February. The transaction was executed for 242 fils per share, at a total value …
Danah Al Safat to offset accumulated losses worth about KWD 957,540
18 February 09:29 AM Danah Al Safat to shrink capital by 48.5%
Mubasher: The ordinary general meeting (OGM) of Danah Al Safat Foodstuff approved on Thursday, 15 February, to decrease its capital by 48.48%. Danah Al Safat will shrink its capital by KWD 14 million to KWD 14.875 million from KWD 28.875 million …
Arabian Shield's capital will rise to SAR 300 million, up from SAR 200 million
15 February 05:25 PM Arabian Shield OKs 50% capital hike via bonus shares
Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company’s board of directors on Thursday recommended raising capital by 50% or SAR 100 million through bonus shares. The capital of the insurance products and services provider will rise to …
Al Aman closed Thursday’s session 3.6% higher at 52 fils
15 February 05:06 PM Al Aman Investment board proposes 24% capital cut
Mubasher: The board members of Al Aman Investment have recommended shrinking capital by 23.7% to KWD 15 million from KWD 19.65 million, according to a bourse statement on Thursday. The capital decrease will be executed through cancelling 16.48 …
About 4,776 Saudi companies are operating in Egypt
15 February 04:39 PM Now is the best time to invest in Egypt – Saudi official
Riyadh – Mubasher: There is no more opportune time to invest in Egypt than the present time, said Saudi-Egyptian Business Council’s deputy chairman, Abdullah bin Mahfouz. About 4,776 Saudi companies are operating in the North African nation with …
The Saudi cement producer received the licence on 15 February 2018
15 February 04:11 PM Al Jouf Cement renews export licence for year
Riyadh – Mubasher: Al Jouf Cement Co. announced renewing its export licence, which it obtained in February 2017, for a year. The Saudi cement producer received the licence on 15 February 2018, according to a statement to the Saudi Stock Exchange …
Al Haramain train's trips will continue to know the possibility of its commercial operation
15 February 03:16 PM Saudi Railway Co tests Al Haramain high-speed Train
Riyadh – Mubasher: Saudi Railway Company (SAR), the owner of Al Haramain high-speed train project, on Thursday has launched a pilot round-trip of Al Haramain Train from the Saudi city of Makkah to Al-Madinah Al-Munawwarah. Al Haramain train's …
OPEC will continue collaboration with non-OPEC nations
15 February 03:07 PM KSA to boost natural gas output in 10 yrs – Minister
 Riyadh – Mubasher: Saudi Arabia plans to raise its natural gas production to 23 billion cubic feet per day (Bcf/d) in the next decade, Minister of Energy, Industry, and Mineral Resources Khalid Al-Falih said on Wednesday. The Organization of the …
Russia's energy minister Alexander Novak
15 February 02:02 PM Aramco, Novatek ink cooperation deal – Minister
Riyadh – Mubasher: Russia-based Novatek and Saudi Arabian Oil Co, known as Saudi Aramco, have signed a collaboration agreement, Russia's energy minister Alexander Novak said on Thursday. Novatek is deemed the largest non-state natural gas producer …
The food and beverage products' segment made up 70% of the market
15 February 01:28 PM GCC food, beverage sector to hit $196bn by 2021 – Report
Dubai – Mubahser: Food and beverage sector in the GCC is expected to increase by 7.1% a year to reach $196 billion by 2021, compared to the current $130 billion, MENA Research Partners said in a report on Thursday. Saudi Arabia acquired more than …
Japan's government allows Aramco and ADNOC to store up to 14.47 million barrels of oil for free.​
15 February 11:56 AM KSA, UAE keep Japan oil inventories unchanged end December
Riyadh – Mubasher: Saudi Arabia and the UAE remained having about 13.8 million oil barrels in the Japanese semi-national stockpiles until the end of December 2017, said Japan’s Agency for Natural Resources and Energy on Thursday. Japan's …
The cigarette maker aims to pay EGP 57.5 billion in taxes in FY2018/2019
15 February 11:39 AM Eastern Co to pay EGP 57.5bn to state treasury in FY2018/19
Cairo – Mubasher: Eastern Co on Thursday said that its draft budget for the fiscal year 2018/2019 aims to raise its tax payments to the state treasury by 16% year-on-year. The cigarette maker aims to pay EGP 57.5 billion in taxes in FY2018/2019, …
Eastern Co is targeting a 132% year-on-year hike in profits in FY18/19
15 February 11:30 AM Eastern Co eyes EGP 3.25bn profits in FY18/19
Cairo – Mubasher: Eastern Co is targeting a 132% year-on-year hike in profits as part of its estimated 2018/2019 budget. The Egyptian tobacco company is aiming at generating profits of EGP 3.25 billion for fiscal year 2018/2019, versus estimated …
Citigroup has received the CMA's approval to resume its business
15 February 10:37 AM Citigroup to advise on Saudi Flynas' IPO
Riyadh – Mubasher: Budget carrier Flynas has hired Citigroup to advise them on an initial public offering (IPO) that could take place by the end of 2018 or early 2019, informed sources said. Citigroup will implement the Saudi airline's IPO in …
The oil-rich nation continues trimming oil stockpiles
15 February 09:26 AM KSA to maintain March oil exports below 7m bpd – Ministry
Riyadh – Mubasher: Saudi Arabia will keep oil exports below 7 million barrels per day (bpd) in March, despite the closure of SAMREF’s refinery, that produces 400,000 bpd, for maintenance, the Ministry of Energy, Industry and Mineral Resources …
The Bangladeshi unit will pay $308.6 million for the technology neutral spectrum excluding VAT
14 February 12:14 PM Global Telecom’s Bangladeshi unit wins $308.6m technology neutral spectrum
Cairo – Mubasher: VEON Ltd and Global Telecom Holding announced that Banglalink, their wholly-owned subsidiary in Bangladesh, has been awarded the technology neutral spectrum in the 1800 and 2100 MHz bands in an auction conducted by the Bangladesh …
The capital will be trimmed to SAR 472.5 million from SAR 630 million
14 February 11:50 AM Saudi Go's EGM OKs 25% capital reduction
Riyadh – Mubasher: Saudi Arabia's Etihad Atheeb Telecommunication (Go) on Wednesday announced that its extraordinary general meeting (EGM) on Tuesday, 13 February, approved reducing the company’s capital by 25%. The capital will be trimmed to SAR …
Nafais Holding was first listed on Boursa Kuwait in early May 2005
14 February 09:43 AM Nafais Holding to delist from Boursa Kuwait on Thursday
Mubasher: Nafais Holding announced that the company will officially withdraw from Boursa Kuwait on Thursday, 15 February 2018, according to a bourse filing on Wednesday. Late March 2017, the Capital Markets Authority (CMA) has approved the …
The company offered to pay off 10% of the sukuk in cash
14 February 09:35 AM Dana Gas creditors reject $700m sukuk restructuring proposal
Abu Dhabi – Mubasher: Dana Gas’ creditors have rejected the UAE-based energy producer's new proposal to restructure its $700 million sukuk and are waiting for better terms, Reuters reported on Tuesday, citing two sources familiar with the matter. …
Al Sorayai Trading and Industrial Group stated that impact of the consolidation on its financial results will be negative
13 February 03:15 PM KSA mulls Al Sorayai Trading-The Home Styles merger
Riyadh – Mubasher: Saudi General Authority for Competition has sounded out experts about the merger of Al Sorayai Trading and Industrial Group and The Home Styles Company. The economic concentration was approved through a 100% merger of The Home …
The new board has been elected for three years
13 February 02:46 PM Inovest shareholders elect new board
Mubasher: The ordinary general meeting (OGM) of Inovest, which is listed on both Boursa Kuwait and Bahrain Bourse (BHB) has approved the resignation of its board members on Monday, 12 February. Inovest’s shareholders have elected new board …