Corporate Actions

France’s Vallourec, Egypt's Shell ink contract to supply 'Bapetco' project

5 hours ago France’s Vallourec to supply Bapetco project in Egypt

Cairo – Mubasher: The French company Vallourec has signed a contract with Badr Petroleum Company (Bapetco), a subsidiary of Shell, to supply approximately 60 to 70 gas wells of ‘Bapetco’ project in Egypt’s western desert with steel pipes. The …

Corporate Actions

Eyas previously announced that it would delist on 28 September

24 September 05:17 PM Eyas confirms delisting date

Mubasher: Eyas for Higher and Technical Education clarified that holding the extraordinary general meeting (EGM) in October will not modify the actual date of withdrawing from Boursa Kuwait. Eyas previously announced that it would delist from the …

Corporate Actions

Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement

24 September 04:08 PM Delta for Construction and Rebuilding wins EGP 641m joint loan

Cairo – Mubasher: Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement with Banque Misr and the Arab African International Bank (AAIB). Delta for Construction and Rebuilding is a subsidiary of Egyptian …

Companies Investments

QIA to sell building in London at $610m

24 September 01:34 PM QIA to sell building in London at $610m

Mubasher: Qatar Investment Authority (QIA) plans to sell a building of offices in Canary Wharf, the financial district in London at GBP 610 million ($610 million). QIA appointed CBRE Group Inc., and Jones Lang LaSalle Inc. as brokerage companies …

Companies Investments

Abu Dhabi Ports opens Fujairah Port

24 September 12:51 PM Abu Dhabi Ports opens Fujairah Port

Abu Dhabi – Mubasher: Abu Dhabi Ports inaugurated on Saturday the operations of Fujairah port in the east coast of the UAE, according to the company’s statement. In June, Abu Dhabi Ports signed a 35-year concession agreement with the Port of …

Corporate Actions

The value of the UAE investments in China reached $2.1 billion during 2016, the UAE’s Commercial Attache to China Badir Al Musharrekh said

23 September 06:02 PM UAE invests $2.1bn in China in 2016 – Al Musharrekh

Abu Dhabi – Mubasher: The value of the UAE investments in China reached $2.1 billion during 2016, the UAE’s Commercial Attache to China Badir Al Musharrekh said. China became the largest commercial partner with the UAE during 2016 after achieving …

Companies Investments

IFC to pump $150m in Egypt’s agriculture sector – Minister

23 September 03:23 PM IFC to pump $150m in Egypt’s agriculture sector – Minister

Cairo – Mubasher: The executive board of the International Finance Corporation (IFC), the subsidiary of the World Bank (WB) approved on Friday to invest $150 million in Egypt’s agricultural sector, the Minister of Investment and International …

ADFG to invest in Egypt’s educational sector – Minister

23 September 01:19 PM ADFG to invest in Egypt’s educational sector – Minister

Cairo – Mubasher: Abu Dhabi Financial Group (ADFG) is interested in investing in Egypt's educational sector during the coming period, Egypt’s Minister of Investment and International Cooperation Sahar Nasr said on Friday during meeting with the …

Management Decisions

Saudi Arabia Medgulf owed this amount to Medgulf Bahrain

22 September 07:18 PM Medgulf Bahrain reduces debts to SAR 123m

Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance (Medgulf) on Thursday announced a settlement of Medgulf Bahrain debts, amounting to SAR 163.38 million, by SAR 40.59 million. Saudi Arabia Medgulf owed this amount to …

Corporate Actions

Mouwasat Medical Services Company on Thursday singed a SAR 150 million agreement with Project Build Co. Ltd. (PBC) to expand a hospital in Dammam

21 September 05:45 PM Mouwasat, PBC ink SAR 150m Dammam expansion deal

Riyadh – Mubasher: Mouwasat Medical Services Company on Thursday signed an SAR 150 million agreement with Project Build Co. Ltd. (PBC) to expand a hospital in Dammam. The project's expansion will be implemented on a 26-month period, starting from …

Companies Investments

KSA tops Dubai's external trade markets – official

21 September 02:00 PM KSA tops Dubai's external trade markets – official

Dubai – Mubasher: Saudi Arabia led the most strategic destinations of Dubai’s external trade, Saed Al Awadi, CEO of Dubai Exports said. The largest Arab country and GCC partner in the UAE’s trade is Saudi Arabia, Al Awadi added. The external …

Google signed a $1.1 billion dollar agreement with HTC Corporation to purchase a stake of its operations

21 September 01:02 PM Google buys $1.1bn stake in HTC

Mubasher: Google signed a $1.1 billion dollar agreement with HTC Corporation to purchase a stake of its operations. Alphabet Inc., Google's owner on Thursday stated that some of HTC’s employees will join Google, as well as Google will receive a …

Corporate Actions

MRC last reported a loss of KWD 206,110 in Q2-17

21 September 11:45 AM Metal and Recycling hikes capital to KWD 10m

Kuwait – Mubasher: Metal and Recycling Company (MRC) said its shareholders approved a capital increase of 21.12% through bonus shares, raising capital to KWD 10 million from KWD 8.26 million. Shareholders also approved the recommendation to …

Corporate Actions

KSA approved SAR 9bn to access optic wires, broadband – Minister

21 September 10:06 AM KSA nods to SAR 9bn optic wires, broadband access – Minister

Riyadh – Mubasher: Saudi Arabia approved SAR 9 billion for fiber optics and broadband access to all the Kingdom’s regions, Bloomberg on Wednesday reported, citing Abdullah bin Amer Al-Sawahah, the minister of communication and information …

Corporate Actions

Emaar Development agreed on Murabaha agreement with First Abu Dhabi Bank, worth $1.5 billion

20 September 06:20 PM Emaar Development gets Islamic loan

Dubai – Mubasher: Emaar Properties, listed on Dubai Financial Market (DFM), on Wednesday announced that its board agreed on an Islamic- compliant financing (Murabaha) agreement between Emaar Development and First Abu Dhabi Bank, worth $1.5 …

Banking and Finance

KSA's PIF to establish recreation’s unit with capital of SAR 10bn

20 September 02:13 PM KSA's PIF to establish SAR 10bn recreation unit

Riyadh – Mubasher: The Public Investment Fund (PIF) of Saudi Arabia on Wednesday announced its plans to establish a subsidiary specialised in the recreation sector with a capital of SAR 10 billion, according to the Saudi Press Agency (SPA). The …

Corporate Actions

Du, Etisalat change their networks name to celebrate KSA National Day

20 September 11:33 AM Du, Etisalat change their networks name to celebrate KSA National Day

Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) and Emirates Telecommunications Corporation (Etisalat) changed their networks name to "KSA and the UAE together" due to celebrating the Saudi National Day which comes on 23 …

Corporate Actions

Bawan inks $53.3m Islamic facility deal with GIB

20 September 10:48 AM Bawan inks $53.3m Islamic facility deal with GIB

Riyadh – Mubasher: Bawan Co signed on Tuesday, 19 September an Islamic banking facility agreement at a value of SAR 200 million ($53.3 million) with Gulf International Bank (GIB). The finance will last until the end of 2017, and the company aims …

Corporate Actions

Saudi NCB finance SMEs with SAR 27bn in 2016

18 September 06:15 PM Saudi NCB finance SMEs with SAR 27bn in 2016

Riyadh – Mubasher: The acting CEO and chairman for small and medium-sized enterprises (SMEs) at the National Commercial Bank (NCB) of Saudi Arabia on Monday stated that the bank granted SAR 27 billion loans to finance the SMEs in 2016.

Companies Investments

RCJY’s CEO inks five deals at SAR 163m

18 September 05:44 PM RCJY’s CEO inks five deals at SAR 163m

Riyadh – Mubasher: The CEO of Royal Commission for Jubail and Yanbu (RCJY), Alaa Nassif on Monday signed five contracts at a value of SAR 163.05 million for establishments and developments in Yanbu Industrial City. Nassif singned two contracts at …

Corporate Actions

Sadara Chemical unit opens isocyanates plant

17 September 05:20 PM Sadara Chemical unit opens isocyanates plant

Riyadh – Mubasher: Sadara Basic Services Company, the indirectly wholly-owned subsidiary by Sadara Chemical Company (Sadara), on Sunday announced starting operations at isocyanates plants that will produce commercial quantities of toluene di …

Corporate Actions

Kingdom Holding Company (KHC) on Sunday said it sold its 90% stake in Malaysia-based Four Seasons Resort Langkawi Hotel to Leisure Ventures Pte Ltd. (LVPL) at a value of $90 million

17 September 05:17 PM KHC sells Four Seasons Malaysia majority stake for $90m

Riyadh – Mubasher: Kingdom Holding Company (KHC) on Sunday said it sold its 90% stake in Malaysia-based Four Seasons Resort Langkawi Hotel to Leisure Ventures Pte Ltd. (LVPL) at a value of $90 million. “Singaporean listed company. The aggregate …

The UAE Minister of Infrastructure Development Abdullah Belhaif AlNuaimi forecasted that developing and expanding the country’s ports will value about AED 157 billion

17 September 12:29 PM UAE to invest AED 157bn in port development - AlNuaimi

Abu Dhabi – Mubasher: The UAE's Minister of Infrastructure Development Abdullah Belhaif AlNuaimi forecasted that developing and expanding the country’s ports will value about AED 157 billion. The GCC country plans to be a member of the …

Corporate Actions

17 September 12:18 PM TE reveals new logo for integrated telecom services

Cairo – Mubasher: Telecom Egypt’s (TE) headquarter in Smart Village has witnessed the official debut of TE's new brand logo, accompanying the launch of its new mobile phone service, along with the firm’s land-line and internet services. TE …

Corporate Actions

Trading on Zahrat Al Waha shares to start Sunday

17 September 10:08 AM Trading on Zahrat Al Waha shares to start Sunday

Riyadh – Mubasher: Listing and trading of Zahrat Al Waha for Trading’s shares on the Saudi Stock Exchange (Tadawul) will start Sunday, 17 September under the symbol 3007, with a 10% fluctuation rate. The stock will be listed under the materials …

Corporate Actions