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Management Decisions

The purchase will be financed through Bupa's own funds
1 July 11:11 AM Bupa Arabia greenlights SAR 14m share buyback
Riyadh - Mubasher: The extraordinary general meeting (EGM) of Bupa Arabia for Cooperative Insurance Company approved the buyback of a maximum of 220,000 shares at a value of SAR 14.27 million. The new shares will be allocated to the insurer’s …
The company has not received any acquisition requests from any parties
1 July 11:01 AM DAMAC Properties denies receiving acquisition requests
Dubai – Mubasher: DAMAC Properties has denied the media reports claiming that its president is considering taking the company private, according to the company's disclosure to the Dubai Financial Market (DFM) on Wednesday. The company confirmed …
The capital cut will offset the company's accumulated losses
30 June 11:50 AM Saudi Amiantit submits capital cut request to CMA
Riyadh - Mubasher: Saudi Arabian Amiantit Company has submitted two requests to the Capital Market Authority (CMA) for a capital reduction and increase. The company wants to cut the capital by SAR 144.51 million before increasing it via a rights …
The decision will support the company’s financial position
30 June 09:56 AM Walaa Cooperative cancels 2019 dividends
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Walaa Cooperative Insurance Company approved withholding dividends for fiscal year (FY) ending on 31 December 2019 during its meeting on Monday.  The decision aims to strengthen the …
Dallah’s now owns 86.1% of Makkah Medical capital
30 June 09:29 AM Dallah buys SAR 161m stake in Makkah Medical
Riyadh – Mubasher: Dallah Healthcare Company (DHC) has signed a final purchase agreement on 29 June with Makkah Medical Center Company to buy 78.59% of its capital or 2.389 million shares for SAR 161.1 million. Dallah’s new ownership in Makkah …
Nominations for all crude grades will be reduced by 5% each
29 June 10:45 AM ADNOC to cut oil nominations in August
UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has decided to cut its crude oil nominations for its customers in August, a source told Reuters. Nominations for all crude grades, comprising Murban, Upper Zakum, Das, and Umm Lulu, will be …
The capital rise will by through issuing 10.843 million bonus shares
28 June 03:19 PM National International Holding EGM approves KWD 23m capital hike
Mubasher: The extraordinary general meeting (EGM) of National International Holding Company has approved to raise the authorised, issued, and paid-up capital from KWD 21.687 million to KWD 22.772 million. The capital rise will by through issuing …
The old dues are invoices issued since 2017 and before
28 June 02:34 PM stc cancels 50% of overdue bills
Riyadh – Mubasher: Saudi Telecom Company (stc) unveiled an initiative to facilitate payments of old billing debts that includes up to 50% discounts on the billing value. The move will allow customers to settle their old dues easily and smoothly, …
Dividends will be at SAR 0.5 per share
28 June 10:58 AM Al Samaani greenlights capital hike, FY19 dividends
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Samaani Factory for Metal Industries Company approved raising the company’s capital to SAR 25 million from SAR 15 million via a 1-for-1.5 bonus share issuance. The capital increase …
Hamad Al Amiri was elected as CEO
28 June 09:32 AM Emirates Refreshments elects new chairman, CEO
Dubai – Mubasher: The board of Emirates Refreshments Company has elected Nader Ahmed Al Hammadi as the chairman of the company, according to the company's disclosure to Dubai Financial Market (DFM) on Sunday. The company's board also agreed on …
The loan will finance current and future projects for Metal and Recycling
25 June 04:59 PM Metal and Recycling OGM approves KWD 10m loan from Agility
Mubasher: The ordinary general meeting (OGM) of Metal and Recycling Company approved a convertible loan facility agreement at a maximum amount of KWD 10 million with Agility International Investment, a fully-owned subsidiary of Agility Public …
The temporary suspension will be effective starting Wednesday
24 June 03:46 PM Emirates temporarily suspends flights from Pakistan
UAE - Mubasher: Emirates airline has temporarily suspended its flights from Pakistan after detecting coronavirus (COVID-19) cases in Hong Kong among passengers coming from Pakistan via Dubai, according to Reuters. The spokesperson said that the …
The majority of the laid-off employees were working in the UAE
24 June 10:08 AM Emirates NBD begins cutting 800 jobs
Dubai – Mubasher: Emirates NBD began laying off around 800 employees this week, representing nearly 10% of its staff, due to the economic impact of coronavirus (COVID-19), sources reportedly told Reuters. The sources referred that the majority of …
Cinemas will reduce its seating capacity
23 June 12:10 PM Majid Al Futtaim to reopen more leisure venues in UAE
UAE - Mubasher: Majid Al Futtaim will open more of its leisure and entertainment centres and cinemas in the UAE starting 23 July, namely in Ras Al Khaimah and Sharjah, according to a press release on Tuesday. This announcement was made a few days …
Mohamed Alabbar was chosen as chairman of Emaar Development
22 June 11:07 AM Emaar Malls, Emaar Development appoint new chairmen
Dubai – Mubasher: Emaar Malls and Emaar Development appointed Mohamed Al Hussaini and Mohamed Ali Alabbar, respectively, as board chairmen. Emaar Malls has elected Ahmad Thani Rashed Al Matrooshi as a vice chairman, while Jamal bin Theniyah was …
The sale was at a total value of EUR 4.66 million
22 June 10:10 AM Arzan unit sells KWD 1.6m stake in Hill Top Netherlands
Mubasher: Arzan Capital Holding Limited, a 78.022%-owned subsidiary of Arzan Financial Group for Financing and Investment, has sold a stake in Hill Top Netherlands at a total value of EUR 4.66 million (KWD 1.58 million). After completing the sale …
The board also agreed on appointing Fathie bin Ghrira as a vice chairman
22 June 09:33 AM Union Properties appoints new chairman
Dubai – Mubasher: The board of Union Properties has elected Khalifa Hassan Ali Saleh Al Hammadi, an uncontested candidate, as the company's chairman, according to a disclosure to the Dubai Financial Market (DFM) on Monday. The board also agreed on …
The subsidiary will reschedule SAR 6.7 billion to the PIF
21 June 12:15 PM Ma’aden’s unit signs SAR 15.3bn finance deal
Riyadh – Mubasher: Ma’aden Wa’ad Al Shamal Phosphate Company, a 60% subsidiary of Saudi Arabian Mining Company (Ma’aden), has signed agreements with a group of lenders to refinance and reschedule debt worth SAR 15.3 billion ($4.1 billion). The …
Beswick was the company's commercial director of the UAE business
21 June 10:30 AM Virgin Mobile UAE appoints new managing director
UAE - Mubasher: Virgin Mobile UAE has appointed Rob Beswick as a new managing director, due to his nine-year experience with the company in digital transformation and commercial planning. Before holding his new position, Beswick was the company's …
Aramco plans SAR 70.32 billion dividends for the first quarter of 2020
18 June 06:06 PM Saudi Aramco reveals plans to finance Q1 dividends
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) plans to use cash and debt to pay the planned SAR 70.32 billion ($18.75 billion) cash dividends to its shareholders for the first quarter (Q1) of 2020, according to the company’s …
The board approved the appointment of Farooq Arjomand as vice chairman
18 June 04:55 PM Hussain Sajwani elected as DAMAC Properties chairman
Dubai – Mubasher: The board of DAMAC Properties has re-elected the company's founder and owner, Hussain Sajwani, as the company's chairman, according to the company's disclosure to Dubai Financial Market (DFM) on Thursday. The board also approved …
The cash dividend distribution amounts AED 62.5m
18 June 03:45 PM National Marine Dredging mulls 25% dividend distribution for 2019
Abu Dhabi – Mubasher: The National Marine Dredging Company will consider the shareholders' request to distribute cash dividends equivalent to 25% of the company's capital for 2019. The cash dividend distribution aggregates at a total amount of …
The talks on the deal are still in early stages
18 June 10:42 AM Mubadala mulls selling property assets to Aldar
UAE - Mubasher: Mubadala Investment Company is reportedly considering the sale of a commercial centre and real estate assets to Aldar Properties, sources told Bloomberg. Mubadala, which owns $232 billion assets, may sell the Galleria Mall on Al …
The new capital will total SAR 600 million
17 June 02:20 PM Allianz SF greenlights SAR 400m capital increase
Riyadh - Mubasher: The extraordinary general meeting (EGM) of Allianz Saudi Fransi Cooperative Insurance Company (Allianz SF) approved on Monday,16 June, increasing the company’s capital through a SAR 400 million rights issue. Accordingly, the …
The dividends represent 25% of the share’s nominal value
17 June 11:54 AM SADAFCO nods to SAR 81m dividends for H2-FY19/20
Riyadh – Mubasher: The extraordinary general assembly meeting of the Saudia Dairy and Foodstuff Company (SADAFCO) approved the proposed cash dividends of SAR 81.25 million to shareholders for the second half (H2) of fiscal year (FY) ending on 31 …