Management Decisions

Cairo – Mubasher: The board of MM Group for Industry and International Trade, listed on the Egyptian Exchange (EGX), approved on 25 September to set up a company in Saudi Arabia. MM Group noted that establishing a firm in the Kingdom aims at …

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Naba Alsaha Medical Services Company's request to increase its capital by issuing one bonus share for every two existing shares. Naba Alsaha plans to raise the capital by SAR …

Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Health) has named Sobhi Abduljalil Batterjee as the Chairman of the board for the coming three years. Saudi German Health also appointed Makarem Sobhi Batterjee as the Vice Chairman …

Mubasher: MENA’s leading open banking platform Tarabut Gateway has announced a rebrand to Tarabut, according to a press release. The brand refresh boosts the company’s objectives to reshape open banking and connect the entire financial ecosystem …

UAE – Mubasher: The Dubai International Arbitration Centre (DIAC) and the Hong Kong International Arbitration Centre (HKIAC) have signed a memorandum of understanding (MoU) to collaborate and promote international arbitration and other alternative …

Riyadh – Mubasher: Alwasail Industrial Company has transferred the machines and equipment of the Ras Al Khaimah factory in the UAE to its factories in Burayadh city, according to a bourse filing. The firm indicated that all the factory’s equipment …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Arabian Shield Cooperative Insurance Company to increase its capital to SAR 798.15 million from SAR 638.52 million. The firm will issue 15.96 million ordinary shares to …

Riyadh – Mubasher: Thimar Development Holding Company plans to convene an extraordinary general meeting (EGM) on 8 October 2023 to consider raising the capital by issuing 15 million priority shares. The company targets a 150% capital increase from …

Riyadh – Mubasher: National Environmental Recycling Company (Tadweer) appointed Abdulaziz Al Nafea as the Chairman of the board for the coming three years. The firm also announced Abdulmohsen Abdulaziz Al Fares as the Vice Chairman, according to a …

Riyadh – Mubasher: Walaa Cooperative Insurance Company and Sure Global Company announced the board’s proposal to increase their capital, according to bourse disclosures. In line with its growth plans to enhance its solvency margin, Walaa will …

Riyadh – Mubasher: Rawasi Albina Investment Company announced Salman Ghazai Nour Al Judaie as the Vice Chairman of the board members. The Saudi firm also appointed Mohsen Miteb Al Dajani Al Otaibi as the Managing Director, according to a bourse …

Riyadh – Mubasher: Saudi Arabian Amiantit Company and Al Sagr Cooperative Insurance Company plan to increase their capital by offering rights issues, according to bourse disclosures. Amiantit aims to raise its capital by SAR 346.50 million in line …

Cairo – Mubasher: The ordinary general meeting (OGM) of Société Arabe Internationale de Banque (SAIB) agreed to increase the lender’s issued and paid-up capital to $331.02 million from $157.50 million. SAIB will offer 17.35 million bonus shares at …

Riyadh – Mubasher: Horizon Food Company named Yousef bin Abdullah Al Rajhi as the Chairman of the board for the next three years. Al Rajhi succeeded Alwaleed bin Khaled Alshathri, who resigned from his position last August. The firm also announced …

Abu Dhabi – Mubasher: The equityholders of Agthia Group agreed on disbursing 8.25 fils per share as a cash dividend for the first half (H1) of 2023, during the general assembly meeting on 12 September. The region’s leading food and beverage …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the requests of Thimar Development Holding Company and Al Omran Industrial Trading Company to increase their capital through rights issues. Thimar will increase its capital by SAR 150 …

Riyadh – Mubasher: Makkah Construction and Development Company named Fahad Mohammad Saleh Al Fawaz as its new CEO, according to a bourse disclosure. The board members accepted Al Fawaz’s appointment on 7 September, yet he will take over his new …

Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) announced Fawaz bin Abdulaziz Alhokair as the Chairman of the board for the coming three years. Cenomi Retail also named Abdulmajeed bin Abdulaziz Alhokair as the Vice Chairman, …

Dubai – Mubasher: UAE-based financial institution Emirates Islamic Bank has appointed Farid Al Mulla as its new CEO who commenced his duties on 5 September 2023. Al Mulla succeeded Salah Amin, a banking veteran who retired after nearly 35 years of …

Mubasher: Kia Middle East and Africa )MEA) has named two new Vice Presidents, boosting its regional team, according to a press release. Yaser Shabsogh assumed his role as Vice President (VP) of Commercial Operations, while Ahmed Soudodi was named …

Riyadh – Mubasher: Hilton has appointed two senior Saudi nationals to its Saudi Arabia-based senior regional leadership team, according to a press release. Fawaz Moumina was announced as the Country Manager and Senior Director of operations for …

Mubasher: JLL has named James Allan as its new CEO for the Middle East and Africa (MEA) region, according to a press release. Allan succeeded Thierry Delvaux, who stepped down as CEO of JLL Middle East, Africa, and Turkey after nearly five years. …

Riyadh – Mubasher: Saudi Ceramics Company announced Majid bin Abdullah Al Issa’s resignation as its CEO, effective from 17 September 2023, according to a bourse disclosure. The board members accepted Al Issa’s resignation, on 4 September, and …