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The transaction’s impact will reflect on the annual financials
20 January 01:49 PM Arkan Al Kuwait purchases property at KWD 6.2m
Mubasher: Arkan Al Kuwait Real Estate has signed the final contracts to buy a commercial property worth KWD 6.16 million, with an 8.4% return.   The property was registered at the Land Registry of the Ministry of Justice, according to a bourse …
The Egyptian prime minister Mostafa Madbouly
16 January 11:18 AM Egypt’s cabinet releases mining law regulations
Cairo – Mubasher: The Egyptian prime minister Mostafa Madbouly has issued the executive regulations to the Mining Law No. 198/2014. Under the new regulations, a newly-formed committee will decide on royalties for each raw material ranging from 5% …
Tabari is currently under investigation by the Jordanian authorities
16 January 11:01 AM DSI confirms news on former CEO arrested in Jordan
Dubai – Mubasher: Drake & Scull International (DSI) on Thursday confirmed the accuracy of the news recently published on Arabian Business concerning the travel ban issued against its former CEO, Khaldoun Tabari, following an Interpol notice …
The decree will contribute to the realisation of Egypt's financial inclusion targets
8 January 01:50 PM Egypt gov't to mechanise collection receipts in administrative bodies
Cairo – Mubasher: Egypt's Finance Minister, Mohamed Maait, has amended some provisions related to governmental accounting and the financial regulations for budget and accounts to contribute to the financial and administrative governance while …
The transaction may have a one-time negative impact on the net income
5 January 10:15 AM Burgan Bank exits entire stake in Bank of Baghdad
Mubasher: Burgan Bank has sold its full stake in Bank of Baghdad, representing 51.8%, to its sister company, United Gulf Holding company. The deal reinforces Burgan Bank’s strategy to improve returns on risks for the bank’s shareholders, according …
Business head for the Middle East at Tally Solutions, Vikas Panchal
23 December 2019 03:53 PM Bahrain announces new VAT registration deadline on 26 December
Mubasher: The Bahraini government has extended the deadline for the value-added tax (VAT) registration to 26 December 2019 instead of 20 December. The extension will include businesses that have an annual supply value exceeding BHD 37,500 during …
The new nat-gas minibuses will replace diesel-powered microbuses
19 December 2019 00:39 PM Japan’s Toyota to manufacture 240k nat-gas minibuses in Egypt
Cairo – Mubasher: Japan's Toyota Tsusho will manufacture 240,000 natural gas-powered minibuses in collaboration with the Arab Organization for Industrialization (AOI), according to a statement by Egypt's Ministry of Investment and International …
Zain will appeal the court’s ruling
18 December 2019 10:49 AM Kuwaiti court rejects Zain’s lawsuit with Finance Ministry
Mubasher: A Kuwaiti court of first instance rejected a case filed by Mobile Telecommunications (Zain) with the undersecretary of the Kuwaiti Finance Ministry over the national labour support tax for the year 2010. Zain will appeal the court’s …
A court ruling obligated one of the partners to exit from the project
24 November 2019 00:22 PM GFH to acquire additional stake in Tunisian project
Dubai – Mubasher: GFH Financial Group announced that it will pay $85 million, in addition to $7 million return, to acquire a 27% a stake in one of the partners in the disputed Tunisian real estate project. The amount will be delivered through …
GFH’s project shareholding will increase to 78%
21 November 2019 09:19 AM GFH to exit partner from project under dispute on court ruling
Dubai – Mubasher: A recent ruling related to GFH Financial Group and a counterparty over a disputed real estate project has been resolved to oblige GFH and others to exit one of the partners from the project. Following this ruling, GFH’s …
The raise is subject to approvals from relevant regulators
17 November 2019 04:37 PM ADIB’s board proposes 40% higher limit on foreign ownership
Abu Dhabi - Mubasher: The board of Abu Dhabi Islamic Bank (ADIB) has submitted a recommendation to the shareholders’ general assembly to increase the maximum limit of non-UAE national's ownership of ADIB's shares to 40%.  Therefore, the clause No. …
UAE president hires chairman for new department
16 November 2019 08:09 PM Abu Dhabi’s ruler merges urban planning, transport departments
UAE – Mubasher: UAE president and ruler of Abu Dhabi Khalifa bin Zayed Al Nahyan has issued new law to establish the Department of Municipalities and Transport, the Emirates News Agency (WAM) reported on Saturday. The new department will replace …