Management Decisions

Mubarrad closed Wednesday’s session 4.6% higher
22 November 05:34 PM Mubarrad Transport to change firm name
Mubasher: The postponed extraordinary general meeting (EGM) of Mubarrad Transport on Wednesday agreed to modify the company’s name. The new name will be Mubarrad Holding, according to a bourse statement issued on Wednesday. At the stock level, …
QIC stated in September that the renewal was not possible
21 November 11:23 AM QIC extends Abu Dhabi’s branch licence
Doha – Mubasher: Qatar Insurance Company (QIC) on Tuesday announced renewing the business licence of its branch in Abu Dhabi. In September, QIC had said that the renewal was not possible owing to the political situation in the GCC, following the …
SADAFCO authorises board to distribute interim dividends on shareholders
21 November 10:04 AM SADAFCO authorises board to distribute interim dividends on shareholders
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company’s (SADAFCO) ordinary general meeting (OGM) approved on Monday, 20 November, authorising the board of directors to distribute interim cash dividends on the shareholders for the fiscal year …
The company confirmed that its shares will be listed on the DFM
20 November 04:50 PM Emaar Development’s 1st general assembly names Alabbar chairman
Dubai – Mubasher: Emaar Development’s first general assembly on Monday decided to appoint Mohamed Alabbar as the company’s chairman. The company confirmed that its shares will be listed on the Dubai Financial Market (DFM) on 22 November, according …
Hilal Cement’s capital stands at KWD 10.15 million
20 November 11:17 AM Hilal Cement names new CEO
Mubasher: Hilal Cement announced the appointment of Ghalib Ahmed Rashid Khalil as its new CEO, starting from 19 November 2017, according to a bourse statement issued on Monday. It is worth noting that Said Al Tabtubaee chairs the board of …
Aramex names Obeid as new CEO
20 November 09:28 AM Aramex names Obeid as new CEO
Dubai – Mubasher: Aramex's board of directors approved on Sunday appointing Bashar Obeid as the new CEO with immediate effect. Obeid will replace Hussein Hachem, according to a statement on Monday to the Dubai Financial Market (DFM). Before …
Khamis Buharoon, ADIB’s vice chairman, will act as CEO
19 November 04:40 PM ADIB’s board accepts CEO resignation
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) board on Sunday accepted the resignation of Tirad Mahmoud from his position as the ADIB Group’s CEO. The resigned CEO was in a medical leave since March 2017, according to a bank statement. “On …
KSA’s Al Tayyar names Alzaeem as deputy chairman
16 November 04:44 PM KSA’s Al Tayyar names Alzaeem as deputy chairman
Riyadh – Mubasher: Al Tayyar Travel Group’s board of directors decided on Wednesday, 15 November appointing Ahmad Samir Humdi Alzaeem as deputy chairman for the board’s current term. The company said that the current’s board term will end on 3 …
Ajman Bank reduces stake in DSI
16 November 09:56 AM Ajman Bank reduces stake in DSI
Dubai – Mubasher: Ajman Bank’s stake in Drake and Scull International (DSI) was trimmed to 45.57% from 46.7% , said the Dubai Financial Market’s (DFM) data on Wednesday. Tabarak Investment’s stake in DSI reach 5.54%. On 3 October, DSI completed …
15 November 02:07 PM Saudi Crown Prince, Lockheed Martin’s CEO discuss military collaboration
Riyadh – Mubasher: The Saudi Crown Prince, Mohammed bin Salman met on Tuesday with Lockheed Martin’s chairman and CEO, Marleen Huston to discuss possibility of mutual collaboration, especially in military industry. The two parties also discussed …
15 November 01:29 PM BSF names Fayez new CEO in coming February
Riyadh – Mubasher: Banque Saudi Fransi (BSF) announced on Tuesday, 14 November appointing Rayan bin Mohammed Fayez as the bank’s managing director, and CEO, effective the coming 18 February, instead of Patrice Couvegnes. The chairman of audit …
13 November 02:03 PM Egyptian banks delay giving EGP 2.5bn loans for Saudi firms – Sources
Cairo – Mubasher: Some banks in Egypt postponed giving loans at a value of EGP 2.5 billion for Saudi companies. Delaying the loans was attributed to arresting some firms’ owners, 11 princes, number of former ministers, and four current ministers …
Aref to rejoin Boursa Kuwai
9 November 06:52 PM Aref to rejoin Boursa Kuwait – Chairman
Mubasher: Khalid Yousif Al Shamlan, chairman of Aref Investment Group (AIG), on Thursday announced that his company was considering re-listing in Boursa Kuwait. The possible relisting comes after the company reconciled with the relevant regulatory …
Global Telecom posted a decline in losses to $84.5 million in the first nine months of 2017
9 November 01:08 PM Global Telecom Q3 profits fall on lower revenues
Cairo – Mubasher: Global Telecom Holding on Thursday posted a 17% decline in profits to $37 million in the third quarter of 2017, from $44.6 million in the same period of 2016. Operating revenues slipped to $773.1 million in Q3-17 from $787.8 …
GFH Group’s listing on Tadawul is a positive sign for its stock
9 November 12:52 PM GFH Group’s stock gains 1.43% on new listing Thursday
By: Mahmoud Gamal Dubai – Mubasher: GFH Group’s stock rose on Thursday on the Dubai Financial Market (DFM) amid positive expectations with regards to the company's planned listing on the Saudi Stock Exchange (Tadawul). By 12:40 pm UAE time, the …
The Saudi government arrested 11 princes
9 November 10:07 AM CBUAE requests info on 19 Saudi accounts
Abu Dhabi – Mubasher: The Central Bank of the UAE (CBUAE) on Thursday requested that Emirati banks provide more information regarding the accounts of 19 Saudi citizens. The accounts in question involve several of the names announced by the Saudi …
KSA to apply Saudisation in five sectors – Minister
7 November 11:36 AM KSA to apply Saudisation in five sectors – Minister
Riyadh – Mubasher: The Saudi Ministry of Labor and Social Development (MLSD) plans to apply Saudisation in the economic, industrial, trading, agricultural, and services sectors, Al Watan El Saudi Newspaper on Tuesday reported, citing the minister, …
PIF to name BofA official in executive committee – FT
1 November 04:45 PM PIF to name BofA official in executive committee – FT
Riyadh – Mubasher: Saudi Arabia plans to appoint Alireza Zaimi in the Public Investment Fund (PIF) to lead the Kingomd's body corporate finance, treasury functions, to help in assets management, and to join executive committee, Financial Times on …
At the end of 2016, OPEC members and several non-member states agreed on crude oil production cut
29 October 05:47 PM ADNOC to cut crude oil production in December - Minister
Abu Dhabi – Mubasher: The UAE’s minister of energy Suhail Mohamed Faraj Al Mazrouei on Sunday stated that the Abu Dhabi National Oil Company (ADNOC) informed its customers about the crude oil production cut in December.   “As part of UAE …
The company will receive the loan from the majority shareholder Meraas Holding
26 October 05:22 PM DXB Entertainment to get AED 454.8m loan from Meraas Holding
Dubai – Mubasher: DXB Entertainment’s board of directors approved on Wednesday the withdrawal of AED 454.8 million under an agreement to receive a subordinated loan from Meraas Holding and Meraas Leisure and Entertainment. DXB Entertainment, which …
RDIF, some of its partners to participate in investing in KSA’s Neom
26 October 04:51 PM RDIF, some of its partners to participate in investing in KSA’s Neom
Riyadh – Mubasher: The Russian Direct Investment Fund (RDIF) on Thursday decided to participate in establishing the new Saudi megaproject Neom with other partners. The value of Neom's projects are expected to exceed billions of dollars. The RDIF …
Zain recommends capital cut
25 October 12:23 PM Zain recommends capital cut
Riyadh – Mubasher: The Saudi Mobile Telecommunications Company’s (Zain) board of directors decided on Tuesday, 24 October reducing capital by 38% to SAR 3.62 billion, from SAR 5.84 billion to amortize the accumulated losses which amounted to SAR …
The second private deal was valued at KWD 625,000
24 October 02:35 PM Boursa Kuwait nods to Inovest 10.3m shrs private deals
Mubasher: Boursa Kuwait on Tuesday has approved Inovest’s request to execute two private transactions for an overall value of KWD 1.31 million ($4.3 million). The first private transaction had a volume of 5.3 million shares at a total value of KWD …
This decision is in compliance with the OGM's approval
23 October 05:38 PM Americana to delist from Boursa Kuwait April 2018
Mubasher: Kuwait Food – Americana announced that it will withdraw from Boursa Kuwait on 23 April 2018, according to a bourse statement issued on Monday. This decision is in compliance with the ordinary general meeting’s (OGM) approval on 5 June to …
Global Investment House is currently undergoing difficulties
23 October 01:30 PM No decision taken in Global acquisition – SHUAA chairman
Abu Dhabi – Mubasher: SHUAA Capital has not yet reached a final decision regarding the acquisition of a stake in Global Investment House, chairman Jassim Alseddiqi said on Monday. Global Investment House is currently undergoing difficulties, …