Management Decisions

RDA and top officials during naming announcement
15 November 12:12 PM 8 major firms win naming rights tender for Riyadh metro stations – CEO
Riyadh – Mubasher: The Riyadh Development Authority (RDA) on Thursday announced that eight major companies and banks won a tender for naming rights of a number of Riyadh Metro stations, CEO Tariq Bin Abdulaziz Al-Faris said. The Saudi Telecom …
The extension will end on 13 June 2019
15 November 10:49 AM Dallah Healthcare extends JV deal with AWJ Investment
Riyadh – Mubasher: Saudi Arabia-based Dallah Healthcare Company (DHC) on Thursday announced extending a joint venture (JV) agreement with AWJ Investment Co. for seven months to establish and operate a hospital in Jeddah. The extension, that will …
ADCB appoints Barclays as merger advisor
14 November 06:08 PM ADCB appoints Barclays as merger advisor
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) appointed Barclays as an advisor to its potential merger with two other UAE-based banks, sources told Reuters on Wednesday. The merger involves Union National Bank (UNB) and privately-owned Al …
SEVEN will be PIF's entertainment investment arm
14 November 02:46 PM Saudi DIEC rebrands to SEVEN, names Bill Ernest as CEO
Riyadh – Mubasher: The Development and Investment Entertainment Company (DIEC) has been rebranded to “Saudi Entertainment Ventures (SEVEN)”. The DIEC, a wholly-owned subsidiary of Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), …
The bank will resume work on Wednesday, 21 November
14 November 02:16 PM CBE announces Prophet’s birthday holiday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that Tuesday, 20 November will be an official holiday on the occasion of Prophet Muhammed’s birthday. The bank will resume work on Wednesday, 21 November, according to an …
The decision will be effective as of 30 November
14 November 01:47 PM MSCI removes Mopco from Global Small Cap Index
Cairo – Mubasher: MSCI Inc announced it has removed Misr Fertilizers Production Co (Mopco), listed on the Egyptian Exchange (EGX), from its the MSCI Global Small Cap Index. The decision will be effective as of 30 November, according to the index …
Flyadeal is owned by Saudia
14 November 01:02 PM Flyadeal to decide on 30-jet deal by end-November – CEO
Riyadh – Mubasher: Saudi carrier Flyadeal on Wednesday said that it will decide on purchasing 30 aircraft of the models of either Airbus A320neo or Boeing 737 MAX planes by the end of November, CEO Con Korfiatis told Reuters. On 23 September 2017, …
The MSCI EM index removed removed Arab National Bank from the MSCI EM Large Cap Index
14 November 10:52 AM MSCI adds Bank Aljazira to Large Cap Index
Riyadh – Mubasher: The semi-annual review of the MSCI Emerging Market (EM) index revealed that the addition of Saudi Arabia-based Bank Aljazira to the MSCI EM Large Cap Index. On the other hand, the index compiler removed Arab National Bank, …
The amendments will be applied as of 30 November
14 November 10:01 AM MSCI adds 3 UAE firms to EM Small Cap Index
By: Mahmoud Gamal Dubai – Mubasher: The semi-annual review of the MSCI Emerging Market (EM) index revealed the addition of three companies listed on the Dubai Financial Market (DFM), along with removing four firms from the index. The amendments …
The deal will be financed through the company’s self-financing sources.
12 November 03:56 PM Sadafco’s board OKs 10% share buyback
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company’s (Sadafco) board of directors has decided on Sunday, 11 November to purchase 3.25 million shares, representing 10% of the capital. Sadafco will turn the purchased stocks into treasury shares, …
Saudi Crown Prince Mohammed bin Salman
12 November 02:56 PM Saudi crown prince instructs to renovate 130 historic mosques
Riyadh – Mubasher: Saudi Crown Prince Mohammed bin Salman has commissioned the Saudi Commission for Tourism and National Heritage (SCTH) to renovate 130 historic mosques in the Kingdom over the next period. This move is part of the “National …
No plan to join new partners in Noon’s ownership
12 November 02:22 PM No plans for Noon-Namshi merger – Alabbar
Dubai – Mubasher: There is no plan to merge Noon.Com platform with Namshi Online Shopping, the Middle East's largest online fashion destination, the UAE e-commerce platform founder and the chairman of Emaar Properties Mohamed Alabbar said. Alabbar …
The deal will end on Tuesday, 11 December
12 November 01:10 PM Fitaihi extends non-binding MoU with Ithmar Capital Partners
Riyadh – Mubasher: Saudi Arabia-based Fitaihi Holding Group has extended a non-binding memorandum of understanding (MoU) with the UAE’s Ithmar Capital Partners for a month to consider the possibility of establishing a joint venture (JV). The deal …
Dina Abo-Onoq, A&M’s new chief country manager for Saudi Arabia
12 November 10:48 AM A&M appoints 1st Saudi woman as chief country manager
Riyadh – Mubasher: Alvarez & Marsal (A&M) has appointed the first Saudi Woman, Dina Abo-Onoq, as a chief country manager for Saudi Arabia. Abo-Onoq is one of the Saudi women who held a slew of leading positions in international consulting …
The bourse will resume trading on Monday, 19 November
12 November 10:07 AM DFM to close Sunday on Prophet's Birthday holiday
Dubai – Mubasher: The Dubai Financial Market (DFM) said that it will be closed on Sunday, 18 November on the occasion of Prophet’s Birthday. The bourse will resume trading on Monday, 19 November, according to a statement. The UAE Cabinet has …
Transguard is set to provide individually tailored personal security services for families
11 November 08:05 PM Transguard begins executive protection business in UAE
Mubasher: Transguard, the UAE’s only executive protection provider, is looking to invest in the GCC country’s executive protection sector over the next period. Transguard is set to provide individually tailored personal security services for …
This amount represents the oil-rich Kingdom’s monthly contribution to support Palestine’s budget with $20 million a month
11 November 07:13 PM Saudi Arabia transfers $60m to Palestine’s MoF
Riyadh – Mubasher: The Saudi Fund for Development (SFD) on Sunday has transferred $60 million to the Palestinian Ministry of Finance (MoF). This amount represents the oil-rich Kingdom’s monthly contribution to support Palestine’s budget with $20 …
The deal is part of DLD’s efforts to implement more expansion in the UAE’s real estate sector
11 November 06:45 PM DLD inks deal with ADGM to raise property foreign ownership
Dubai - Mubasher: Dubai Land Department (DLD) announced signing a memorandum of understanding (MoU) with the Registration Authority of Abu Dhabi Global Market (ADGM) to enable foreign companies which are listed on its stock markets to own …
Any potential deal would rely on a slew of factors including the volume of Iranian exports
11 November 02:27 PM Saudi Arabia, OPEC in talks over output cut
Riyadh – Mubasher: Saudi Arabia has started discussions with other partners to reduce crude production from the Organization of the Petroleum Exporting Countries’ (OPEC) and its allies by 1 million barrels per day (bpd) in the coming period, two …
Chairman of Marseilia Group Sherif Heliw
11 November 10:33 AM Marseilia Group eyes listing on EGX end-2018
By: Abdullah Bedier Cairo – Mubasher: Marseilia for Real Estate is looking to shift from the Nile Stock Exchange (NILEX) to the Egyptian Exchange (EGX) by the end of 2018, after meeting the listing prerequisites, chairman Sherif Heliw told …
Ajman Bank extends subscription period to Tuesday
8 November 06:53 PM Ajman Bank extends subscription period to Tuesday
Dubai – Mubasher: Ajman Bank on Thursday announced the extension of the subscription period of its capital increase by another four working days. As per the new extension, the bank’s capital hike will now end on Tuesday, 13 November 2018, it said …
Naeem Investments will evaluate the company’s shares fair value
8 November 03:30 PM Global Telecom appoints Naeem Investments as financial advisor
Cairo – Mubasher: Global Telecom Holding on Thursday announced that it has appointed Naeem Financial Investments Company, a subsidiary of Naeem Holding, to be its financial advisor.    Naeem Investments will evaluate the company’s share fair value …
Bin Talal’s KBW Investments mulls IPO, eyes UAE, Saudi project launches
8 November 02:48 PM Bin Talal’s KBW Investments mulls IPO, eyes UAE, Saudi project launches
Mubasher: KBW Investments may implement an initial public offering (IPO) for its shares over the coming period, the firm’s founder and chairman Prince Khaled bin Alwaleed bin Talal told CEO Middle East in an interview. We are considering this …
The company’s issued capital will reach EGP 233.11 million
8 November 01:00 PM Cairo Investment to raise capital to EGP 233m
Cairo – Mubasher: Cairo Investment and Real Estate Development on Thursday announced that its board has approved increasing the company’s capital by 35 million shares at EGP 6 per share, bringing the total value of the increase to EGP 210 million. …
Around 402 projects with investments of SAR 12.15 billion will be carried out in various field
7 November 01:16 PM King Salman to launch SAR 16bn projects in Qassim
Riyadh – Mubasher: Saudi King Salman bin Abdulaziz Al Saud on Wednesday has unveiled plans to implement more than 600 projects with as much as SAR 16 billion ($4.3 billion) in investments in Qassim region over the coming period. Around 402 …