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The four companies include EFG Hermes Securities Brokerage
18 June 12:38 PM Egypt’s FRA grants short-selling licence to four firms
Cairo – Mubasher: The Egyptian Financial Regulatory’s (FRA) chairman Mohamed Omran has approved granting four companies the licence to conduct short-selling transactions. The four companies include EFG Hermes Securities Brokerage, Financial …
The decision will come into force starting from Tuesday
18 June 11:10 AM Tadawul suspends trading on Thimar shares
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading on shares of the National Agricultural Marketing Company (Thimar) on the back of not announcing the financials of the first quarter of 2019. The decision will come into …
Tadawul has delisted Alawwal Bank Shares on the back of merger with SABB
18 June 09:57 AM Tadawul delists Alawwal Bank shares after merger with SABB
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Tuesday announced that it has delisted Alawwal Bank shares on the back of merger with the Saudi British Bank (SABB), according to Tadawul’s statement. On Sunday, SABB and Alawwal Bank …
The Closing Auction session will start from 03:00 pm
16 June 11:26 AM Tadawul extends closing auction session, trade for 20 minutes
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will extend the Closing Auction session for a total duration of 20 minutes instead of 10 minutes on 20 June. Accordingly, the Closing Auction session will start from 03:00 pm Saudi time to …
Alawwal Bank did not receive any objections from creditors during this period
16 June 10:45 AM SABB, Alawwal Bank complete merger after expiry of creditor objection period
Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal Bank announced the effectiveness of their merger after the expiry of the creditor objection period on 15 June. Alawwal Bank noted that the bank did not receive any objections from …
Issuance proceeds will be used for general corporate purposes
13 June 04:26 PM CMA approves Burgan Bank’s $500m AT1 capital securities
Mubasher: Burgan Bank has received Kuwait’s Capital Markets Authority’s (CMA) approval to issue Additional Tier 1 (AT1) capital securities at up to $500 million.   The Kuwaiti lender will use proceeds from the issuance for general corporate …
Insider’s trading prohibition period will start as of Sunday, 16 June
13 June 08:59 AM ADX insider’s trading ban starts 16 June
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) announced that the insider’s trading prohibition period will start as of Sunday, 16 June 2019 until the full disclosure of financial statements for the second quarter of the year. All …
This step aims to raise the trading value and volume in the Egyptian market
12 June 04:57 PM Egypt’s FRA grants short-selling licence to Arqaam Securities
Cairo – Mubasher: The Egyptian Financial Regulatory’s (FRA) chairman Mohamed Omran has approved granting Arqaam Securities Brokerage a licence to conduct short-selling transactions. This step came as part of efforts to raise the value and volume …
Earnings shrank to about KWD 16,930 ($55,800) in Q1-19
11 June 01:04 PM Ream Real Estate Q1 profits plunge 89%
Mubasher: The financial statements of Ream Real Estate Co showed that the company posted a decrease of 89.1% in profits during the first quarter of 2019 compared to the same period last year. Earnings shrank to about KWD 16,930 ($55,800) in Q1-19 …
The National Strategy for Wellbeing 2031 includes 90 projects
9 June 03:27 PM UAE approves quality of life strategy until 2031
UAE – Mubasher: The UAE Cabinet, headed by Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday has approved the National Strategy for Wellbeing 2031 during its meeting at the Presidential …
The decision will come into force starting from Sunday, 9 June
9 June 10:21 AM Tadawul reduces par value of 29 gov’t debt issues to SAR 1,000 apiece
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will cut the par value of 29 domestic government debt instruments to SAR 1,000 apiece instead of SAR 1 million. The decision will come into force starting from Sunday, 9 June, without changing …
GII’s portfolio in the UK is worth GBP 330 million
3 June 08:55 AM UAE’s Gulf Islamic Investments acquires $188m office property in Birmingham
UAE – Mubasher: Gulf Islamic Investments LLC (GII), a leading financial services company based in Dubai, announced it has acquired an office property in Birmingham, the UK, for around GBP 149 million ($188 million) on behalf of its investors. The …
A group of investors have acquired a 44% stake in Boursa Kuwait
2 June 04:07 PM CMA launches tender for Boursa Kuwait IPO management process
Mubasher: Kuwait’s Capital Markets Authority (CMA) announced the launch of a tender from 2 June to 16 June to choose the adviser which will manage the initial public offering (IPO) for an equity stake in Boursa Kuwait.    This step came as part of …
GFH is listed on three GCC stock markets
30 May 01:14 PM GFH re-appoints SICO as liquidity provider in DFM, BHB
Mubasher: The Central Bank of Bahrain (CBB) has approved for GFH to re-appoint SICO as liquidity provider (market maker) for the entity’s shares that are listed on both the Dubai Financial Market (DFM) and Bahrain Bourse (BHB). Bahrain’s central …
CMA decided to continue suspending the trading of Al Khodari Sons Company’s stocks
30 May 11:40 AM Tadawul suspends trading on Al Khodari’s stock
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading the shares of Abdullah Abdul Mohsen Al Khodari Sons due to the company's failure to announce its financial statements for the full-year 2018, according to a statement on …
Delivery Hero acquired a 16% stake in Glovo
29 May 11:51 AM ECA orders Glovo to return to Egypt
Cairo – Mubasher: The Egyptian Competition Authority (ECA) said that Spanish delivery startup Glovo and German Delivery Hero have violated the competition law. The two companies agreed on Glovo’s exit from the Egyptian market in a bid to eliminate …
The newly approved amendments will be effective upon their publication date
28 May 11:41 AM Saudi CMA amends corporate governance regulations
Riyadh – Mubasher: Saudi Arabia’s Capital Market Authority (CMA) announced amending corporate governance regulations, the regulatory rules, and procedures issued pursuant to the companies’ law relating to listed joint stock companies. The CMA also …
Boursa Kuwait’s inclusion into the MSCI EM index is forecast to attract $2.8 billion foreign inflows
21 May 11:28 AM MSCI to add Boursa Kuwait to EM index within weeks – EFG Hermes
Mubasher: EFG Hermes expects MSCI Inc, the world's largest index provider, to add Boursa Kuwait to its closely watched and widely duplicated emerging-markets (EM) index over the course of the next weeks. Boursa Kuwait’s inclusion into the MSCI EM …
Tadawul will commence delisting procedure of Sahara’s shares
19 May 11:12 AM Tadawul to delist Sahara’s shares after merger with Sipchem
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Sunday announced suspending trade on Sahara Petrochemical Company’s shares starting from Sunday, 14 September. The Saudi bourse will commence delisting procedure of the company’s …
IFA earlier announced KWD 4.21 million worth of losses in Q1-19
16 May 11:55 AM Boursa Kuwait suspends trading on IFA
Mubasher: Boursa Kuwait has announced the suspension of trading activity on International Financial Advisors (IFA), dually-listed on Boursa Kuwait and the Dubai Financial Market (DFM). Suspending the trading on IFA’s stock followed the company’s …
The fund is fully owned by Al Bilad Investment
15 May 12:56 PM CMA greenlights IPO of ‘Albilad Al-Ameen’ Fund
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the request of Al Bilad Investment Company to sell the units of “Albilad Al-Ameen Capital Protection Fund” via an initial public offering (IPO). The fund is fully owned by Al …
The legal split announcement was made during a press conference
14 May 10:20 AM Batelco announces legal split to two independent entities
Mubasher: The transportation and telecommunications minister of Bahrain, Eng. Kamal bin Ahmed Mohamed, has announced the completion of Bahrain Telecommunications (Batelco)’s legal separation process as part of implementing the fourth National …
Trading on the four stocks will be resumed as of Tuesday for twenty sessions
13 May 11:13 AM Tadawul suspends trading on 4 stocks
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Monday announced that it has suspended trading on the stocks of four companies due to not disclosing their financial results for the first quarter of 2019. The four companies are Alujain …
Shareholders voted to raise the board members to nine from seven
8 May 12:18 PM DSI hires two new board members
Dubai – Mubasher: Drake and Scull International (DSI) on Wednesday announced the appointment of two new board members, Fahem Alshehhi and Salem Alshamsi, replacing Obeid bin Touq and Khamis Buamim who resigned in May. Moreover, shareholders at the …
ADCB's shares will start trading on 1 May
25 April 05:50 PM UNB to delist from ADX on 1 May
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) revealed that Union National Bank’s (UNB) shares will be delisted on 1 May after its merger with Abu Dhabi Commercial Bank (ADCB). Shares of the newly-merged entity, operating under the …