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Board of Directors

The new capital will reach SAR 228.5 million
23 January 10:47 AM GO’s board agrees SAR 122m capital cut to amortise losses
Riyadh – Mubasher: The board of Etihad Atheeb Telecommunication Company (GO) recommended a capital cut by 34.8% to amortise about SAR 122 million or 67.4% of the total accumulated losses. The new capital will reach SAR 228.5 million from SAR 350.5 …
The company suffered a loss of KWD 5.1 million in Q4-19
23 January 09:35 AM Al Imtiaz Investment records KWD 19.7m profit in 2019; dividends proposed
Mubasher: The profits of Al Imtiaz Investment Group slid by 1.5% year-on-year (YoY) during the fiscal year ended on 31 December 2019 to reach KWD 19.72 million ($65.07 million) when compared to KWD 20.02 million ($66.08 million). The lower annual …
One of Petro Rabigh's plants
22 January 06:21 PM Petro Rabigh’s board approves resignation of chairman
Riyadh – Mubasher: Rabigh Refining and Petrochemical Company’s (Petro Rabigh) board has accepted the resignation of the company’s chairman Abdulaziz Mohamed Al Judaimi effective 1 February 2020. The board also decided to name Ibrahim Qassem …
One of Takween's factories
22 January 06:06 PM Takween names Ali Al Jameel as CEO
Riyadh – Mubasher: Takween Advanced Industries Company’s board has announced the appointment of Ali Hassan Al Jameel as CEO effective 2 February 2020. The appointment of Al Jameel takes place after the end of the commission of Jameel Abdullah Al …
The decision will be effective on 31 January
22 January 01:22 PM Dalqan Real Estate’s general manger resigns
Mubasher: Dalqan Real Estate announced that its board of directors has approved the resignation of the company’s general manager, Saud Abdullah Saud Al Mutairi, which he submitted on 16 January 2020. The decision shall be effective starting from …
Khalid Abu Hana has been appointed as the new CEO of SPM
22 January 11:25 AM SPM appoints new CEO
Riyadh – Mubasher: Saudi Paper Manufacturing (SPM) Company announced that its board of directors has approved the Chairman’s resolution to terminate the CEO’s contract. Moreover, the board has decided to appoint Khalid Abu Hana as the company’s …
NBK’s profits recorded KED 99.12 million in Q4-19
20 January 04:25 PM NBK’s profits hit KWD 401m in 2019; dividends proposed
Mubasher: The annual financial statements of the National Bank of Kuwait (NBK) revealed an increase in profits by 8.3% year-on-year (YoY) over the last fiscal year ended 31 December 2019. The profits reached KWD 401.29 million ($1.33 billion) in …
Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk
20 January 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved
Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …
The bank reported KWD 17.42 million profits in Q4-19
20 January 12:58 PM Boubyan Bank logs 12% higher profits in 2019; dividends approved
Mubasher: The net profits of Boubyan Bank grew by 12% year-on-year (YoY) at KWD 62.65 million ($206.98 million) during the fiscal year ended 31 December 2019 when compared to KWD 56.11 million ($185.37 million).   Earnings per share (EPS) …
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20 January 12:22 PM Wafa Insurance shareholders reject board’s report for FY18
Riyadh – Mubasher: Saudi Indian Company for Cooperative Insurance (Wafa Insurance) announced that its ordinary general assembly meeting (OGM) has not approved the board of directors’ and auditor reports for fiscal year (FY) 2018. Moreover, the OGM …
The new Board of Directors will serve for three years
20 January 11:59 AM Bahri appoints chairman, deputy chairman
Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) announced that its ordinary general assembly meeting (OGM) has elected a new board of directors for a three-year term starting from 16 January 2020. The board of directors has …
The company plans 50% capital reduction to offset accumulated losses
19 January 04:39 PM Saudi Enaya appoints financial advisor for capital cut
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company announced that it has appointed Aljazira Capital as a financial advisor for its proposed capital cut. Enaya announced earlier that the company’s board of directors has recommended …
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19 January 11:51 AM GO reveals accumulated losses exceeded SAR 180m
Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) announced that accumulated losses amounted SAR 180.98 million. The accumulated losses have now reached around 51.6% of the company’s capital, according to a statement to the Saudi …
The capital cut will be through the cancellation of 15 million shares
19 January 11:34 AM Saudi Enaya board recommends 50% capital cut
Riyadh – Mubasher: The board of Saudi Enaya Cooperative Insurance Company has recommended decreasing the company’s capital by 50% to SAR 150 million, down from SAR 300 million. The capital cut will be through the cancellation of 15 million shares …
Capital Market Authority
16 January 05:25 PM CMA approves Tihama’s capital hike request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Tihama Advertising and Public Relations Company’s request to increase its capital through a SAR 100 million rights issue. The increase will be limited to the shareholders who …
The aim is to offset the nearly SAR 60 million accumulated losses
16 January 04:04 PM ACIG board recommends 29.5% capital cut
Riyadh - Mubasher: The board of the Allied Cooperative Insurance Group (ACIG) has recommended reducing the company’s capital by 29.5% from SAR 200 million to SAR 141 million then raising the capital by SAR 150 million. The aim is to offset …
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16 January 03:51 PM Maharah Human Resources appoints new CEO
Riyadh – Mubasher: The board of Maharah Human Resources Company announced ending the service of CEO Yousef bin Mohammed Al Ghafari. The board of directors has approved the appointment of Abdulkareem bin Hamad Al Nujaidi as the company’s new CEO, …
The transaction will not have any impact on the firm’s financials
14 January 04:39 PM Kuwait Business Town sells investment property at KWD 25.5m
Mubasher: The board of Kuwait Business Town Real Estate Company approved the selling of an investment property to one of the company's subsidiaries at a value of KWD 25.501 million, without achieving a profit nor a loss. The transaction will not …
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14 January 10:28 AM Aslak profits surge 211% in 2019; board recommends capital cut
Riyadh – Mubasher: United Wire Factories Company (Aslak) reported a 211.27% year-on-year (YoY) growth in net profits after Zakat and tax during 2019, as shown by the company’s annual estimated financial results for last year. Profits amounted to …
The potential deal will reinforce Amanat’s position as a key healthcare investment company
12 January 11:12 AM Amanat mulls acquiring stake in VPS Healthcare
Dubai – Mubasher: The Gulf’s largest healthcare and education investment company, Amanat Holdings, is currently considering a potential acquisition of a strategic stake in the Middle East operations of VPS Healthcare. The possible transaction is …
The board recommended the distribution of SAR 1.394 billion in cash dividends
9 January 05:26 PM Samba’s board recommend SAR 0.7/shr dividends
Riyadh – Mubasher: Samba Financial Group’s board of directors has recommended the distribution of SAR 1.394 billion in cash dividends for the second half (H2) of 2019. With the number of eligible shares standing at two billion shares, the …
An EGM will be held to consider the decision
9 January 04:35 PM International Dry Ice’s board approves optional delisting
Cairo – Mubasher: International Dry Ice’s board has approved a request for the optional delisting of the company’s shares from the Egyptian Exchange (EGX). An extraordinary general meeting (EGM) is set to be held to consider the delisting …
The board discussed employee compensation
6 January 02:56 PM Spinalex nods capital reduction by EGP 144m
Cairo – Mubasher: The board of Alexandria Spinning and Weaving (Spinalex) approved decreasing the company’s capital and retained losses by EGP 144 million. The company’s board also approved paying nearly EGP 20 million as compensation to employees …
Dividends will be distributed on 27 January 2020
6 January 01:05 PM Al Moammar recommends SAR 1/shr dividends
Riyadh – Mubasher: Al Moammar Information Systems Company’s board of directors has recommended distributing SAR 16 million in cash dividends to shareholders for the second half (H2) of last year. Dividends will be distributed on 27 January 2020 at …
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6 January 12:42 PM CIB to raise capital to EGP 14.77bn
Cairo – Mubasher: The Commercial International Bank - Egypt (CIB) board of directors has approved increasing the bank’s issued and paid-up capital to EGP 14.77 billion from EGP 14.69 billion The capital hike aims to release the shares distributed …