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Management Decisions

Burj Khalifa - (Photo Archive)
3 March 12:09 PM Emaar Properties, Emaar Malls planning merger
Dubai – Mubasher: Emaar Properties and Emaar Malls jointly announced that each of their boards of directors has voted to recommend an all-share merger to their respective shareholders. The proposed merger will reinforce Emaar Properties’ position …
Dubai Financial Market (DFM)
3 March 11:34 AM DFM executes DXB Entertainments’s capital hike
Mubasher: Dubai Central Securities Depository (Dubai CSD), a subsidiary of Dubai Financial Market (DFM), on Wednesday announced executing the capital increase of DXB Entertainments (DXBE) in the electronic Dubai CSD system. The company’s issued …
The NCB-Samba merger will create a regional powerhouse with SAR 837 billion ($223 billion) in assets.
2 March 09:44 AM NCB, Samba shareholders approve merger agreement
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Commercial Bank (NCB) has approved the proposed merger of the bank and Samba Financial Group through the issuance of 0.739 new NCB shares for every share in Samba. It …
This decision will enable Bee and Masary to grow their business volumes
24 February 12:48 PM Ebtikar's board approves Vodafone Egypt's 20% acquisition in Bee, Masary
Cairo – Mubasher: The board of Ebtikar Holding for Financial Investments, the owner of Bee and Masary, has approved to ink a Memorandum of Understanding (MoU) to allow Vodafone Egypt to buy a 20% stake in each of the two e-payment platforms to …
The company's consolidated revenues jumped by 24% YoY
24 February 11:42 AM Telecom Egypt achieves 10% higher consolidated profits in 2020; dividends proposed
­Cairo – Mubasher: The consolidated net profits of Telecom Egypt increased by 10% to EGP 4.9 billion in 2020, when compared to 2019. The company's consolidated revenues jumped by 24% to EGP 31.9 billion in 2020 from EGP 25.81 billion in the …
The UAE nationals are allowed to hold shares up to 100%
23 February 09:53 AM du increases foreign ownership limits to 49%
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) has raised the foreign ownership limit up to a maximum of 49% of its share capital. The UAE nationals and wholly-owned UAE establishments, companies, and authorities are also …
This proposal brings the full dividends of 2020 to 80 fils per share
23 February 09:36 AM Etisalat's board recommends AED 3.477bn dividend distribution for H2-20
Abu Dhabi – Mubasher: The board of Emirates Telecommunication Group (Etisalat) has proposed to pay out final dividends of AED 3.477 billion for the second half (H2) of 2020. This proposal brings the full dividends of 2020 to 80 fils per share or …
The company's accumulated losses represent 5.42% of the capital
22 February 03:07 PM Al Mazaya's OGM agrees to extinguish KWD 4m accumulated losses
Mubasher: The ordinary general meeting (OGM) of Al Mazaya Holding has approved to write off the accumulated losses valued at KWD 3.73 million as of 31 December 2020. The company's accumulated losses, which represent 5.42% of the capital, will be …
The company intends to appeal the ruling
22 February 11:11 AM Morocco's court rules against Aramex in fire incident-related suit
Dubai – Mubasher: Aramex has received a judgment from the court of the first instance in Morocco in favor of a customer that has claimed around $40 million as compensation for the loss of goods and damages related to the fire incident at a …
This proposal was made after the board had approved the financials
21 February 12:15 PM Deyaar's board proposes no capital reduction
Dubai – Mubasher: The board of Deyaar Development has recommended to the shareholders not to proceed with the capital reduction during the upcoming ordinary general meeting (OGM). This proposal was made after the board had reviewed and approved …
flydubai pilots will receive training before flying the aircraft
18 February 04:21 PM flydubai prepares Boeing 737 MAX to rejoin fleet
UAE - Mubasher: The UAE-based carrier flydubai is preparing the Boeing 737 MAX aircraft to rejoin its fleet for passenger service following a 20-month review to safely return the aircraft to service. This step came after the General Civil Aviation …
Sharjah Cement received the approval to withdraw from Boursa Kuwait
16 February 02:01 PM CMA approves Sharjah Cement's voluntary withdrawal from Boursa Kuwait
Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Company has received the approval of the board of commissioners of the Capital Market Authority (CMA) to voluntarily withdraw from Boursa Kuwait. The company disclosed this decision …
The board agreed to extinguish treasury shares of 94.339m shares
16 February 11:26 AM GFH's board terminates market making/liquidity providing agreement
Mubasher: The board of GFH Financial Group has decided to terminate the market making/liquidity providing agreement, according to the company's disclosure to the Dubai Financial Market (DFM). The board also agreed to extinguish treasury shares …
Al-Haqbani’s resignation was submitted for personal reasons.
16 February 09:33 AM Chairwoman of ACIG resigns
Riyadh – Mubasher: The board of Allied Cooperative Insurance Group (ACIG) has approved the resignation of the company’s chairwoman, Nouf Saud Al-Haqbani. Al-Haqbani’s resignation was submitted for personal reasons and was effective as of 15 …
The decision is in line with article no. 33 of the Capital Market Law no. 95 of 1992
14 February 03:37 PM Egypt’s FRA approves liquidation of two activities of TCV Holding for Investment
Cairo – Mubasher: The board of directors of the Egyptian Financial Regulatory Authority (FRA) decided to liquidate the activities of securities portfolio and investment fund formation and management of TCV Holding for Investment. The decision is …
Photo Archive
10 February 04:24 PM Saudi White Cement changes name to Riyadh Cement Co.
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Saudi White Cement Co. approved changing the company’s name to Riyadh Cement Co. The move comes after obtaining all regulatory approvals to change the commercial register with …
Wahby has started his career as an investment banker in Egypt
9 February 02:10 PM Al Ahli Bank of Kuwait names new CEO in UAE
Mubasher: Al Ahli Bank of Kuwait (ABK) has appointed Omar Wahby as the bank's CEO in the UAE, according to a press release. With a 25-year experience, Wahby has started his career as an investment banker in Egypt and occupied senior roles in a …
The company's revenues decreased to AED 215.571m in 2020
9 February 11:08 AM Drake & Scull turns to profitability; restructuring process reaches final stage
Dubai – Mubasher: Drake & Scull International (DSI) has recorded AED 109.3 million net profits attributable to the equity holders in 2020, against AED 87 million net losses in 2019, according to the company's preliminary results for 2020. The …
Wasatah Capital has been hired as the offering’s financial advisor.
9 February 09:49 AM Anaam International mulls SAR 210m capital increase
Riyadh – Mubasher: Anaam International Holding Group’s board recommended raising the company’s capital by SAR 210 million through a rights issue. The holding firm aims to finance and complete its future plans and projects, expand its activities, …
The dividend distribution percentage will be determined during the board meeting
8 February 09:28 AM Dubai Investments confirms distributing dividends for 2020
Dubai – Mubasher: Dubai Investments has confirmed the news circulating about the company's intention to distribute cash dividends to the shareholders for 2020. The dividend distribution percentage will be determined during the board meeting, …
The company appointed Farsakh as CEO in April
4 February 04:10 PM Arabtec Holding's CEO resigns
Dubai – Mubasher: Arabtec Holding has announced the resignation of Wail Farsakh as Group CEO, according to the company's disclosure to the Dubai Financial Market (DFM) on Thursday. In April, the company appointed Farsakh as CEO to succeed Peter …
The merger cancellation is not expected to have a negative financial effect on Bawan.
3 February 04:48 PM Two of Bawan’s units cancel merger deal
Riyadh – Mubasher: Bawan Company announced on Wednesday.the cancellation of the potential merger between two of its subsidiaries. On 19 June 2019, United Transformers Electric Company and United Technology of Electric Substations and Switchgears …
Al Tameemi is a board member in the Central Bank
2 February 04:35 PM CBUAE appoints new Vice Governor
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has appointed Khaled Mohammed Balama Al Tameemi as a new Vice Governor effective on 1 February 2021. With more than 30-year experience, Al Tameemi is a board member in the Central Bank, General …
Photo Archive
2 February 04:24 PM Solidarity Saudi Takaful announces CEO resignation
Riyadh – Mubasher: Solidarity Saudi Takaful Company’s board of directors accepted the resignation of the company’s CEO, Bader bin Khalid Alanzi, that was submitted for personal reasons. The board’s decision will take effect on 1 April 2021, …
Cisco has supported the automation of IoT end points at Expo 2020
2 February 10:32 AM Expo 2020 Dubai appoints Cisco to manage IT network
UAE - Mubasher: Expo 2020 Dubai has selected Cisco, a global tech company and Expo’s official digital network partner, to operate and maintain the exhibition's entire IT network. Cisco will manage end-to-end network services delivery across Expo’s …