Management Decisions

The deal will expand EgyptAir’s network to above 20 destinations in Europe
36 minutes ago EgyptAir, Ukraine Airlines ink codeshare deal
Cairo – Mubasher: EgyptAir and Ukraine International Airlines on Thursday announced signing codeshare partnership agreement. Under the deal, Egypt's flagship carrier will place its code on Ukrainian flights between Kiev and Cairo as well as Kiev …
The property developer’s capital will be raised to EGP 1.44 billion
2 hours ago EGX approves MNHD’s EGP 240m capital raise
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved increasing Madinet Nasr Housing and Development’s (MNHD) issued and paid-up capital by EGP 240 million, distributed over 240 million shares at a nominal value of EGP 1 …
Delta Insurance’s capital will be raised to EGP 120 million
3 hours ago EGX nods to Delta Insurance’s EGP 20m capital hike
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved increasing Delta Insurance’s issued and paid-up capital by EGP 20 million, distributed over 5 million shares at a nominal value of EGP 4 per share. The EGX-listed firm’s …
Ban will hold the position for the coming three years
4 hours ago Ban Ki-moon named GEMS ambassador for MUN
UAE – Mubasher: Ban Ki-moon, the former secretary-general of the United Nations (UN), has been appointed as as the official ambassador for the Model United Nations (MUN) at GEMS World Academy, including GEMS World Academy in Dubai. Ban officially …
Raheja will replace Kevin Kwak
4 hours ago Dar Alarkan names new CEO
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company’s board of directors approved appointing Andy Raheja as the company’s new CEO starting from 4 June.  Raheja, who will replace Kevin Kwak, is currently the CFO of Dar Alarkan, according …
Al Deera is seeking to achieve positive results over the coming period
10:34 AM Al Deera in talks to capitalise KWD 12.4m debts – chairman
Mubasher: Al Deera Holding Co. is negotiating with its lenders to capitalise KWD 12.36 million in debts, the company’s chairman said. These deliberations are part of the firm’s strategy to reduce expenses and financial burdens, Al Jarida reported, …
An existing transaction is reopened for subscription
10:11 AM Mashreq Bank raises $175m in bond reopening
Dubai – Mubasher: Mashreq Bank has raised $175 million by tapping a $500 million bond issued by the bank in February, Reuters reported on Wednesday. An existing transaction is reopened for subscription, using the same documentation as before. The …
Osoul will pump the proceeds in income-generating projects
10:07 AM Osoul to offload unprofitable assets – CEO
Mubasher: Osoul Investment Company is seeking to offload unprofitable assets, the company’s CEO said. Osoul will pump the proceeds in income-generating projects, Suleiman Ahmed Al Omairi told the company’s general assembly held on Wednesday. Al …
Oula Fuel is keen on pushing ahead with developing all stations
09:30 AM Oula Fuel reopens Al-Quran station
Mubasher: Oula Fuel Marketing Company has reopened its petrol station in Al-Quran region after upgrading the station’s infrastructure. The development involved raising the station’s efficiency, boosting environmental safety by installing vapor …
The capital will be raised to EGP 898.4 million
22 May 03:03 PM Egypt’s FRA mulls Beltone’s EGP 560m capital hike request
Cairo – Mubasher: The Financial Regulatory Authority (FRA) on Wednesday announced that Beltone Financial Holding has submitted documents to raise its issued capital. The disclosure form includes the board of directors’ approval to increase the …
Saher is as a country-wide system monitoring traffic flow
22 May 02:46 PM Saudi PIF mulls floating stake in traffic management arm
Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) plans an initial public offering (IPO) of its traffic management firm, Saher, wholly owned by its subsidiary Tahakom Comprehensive, Bloomberg News reported. Tahakom, formally known as …
KGL will ink new investment contracts with public and private sectors
22 May 02:33 PM KGL’s shareholders nod to KWD 1.39m bonus shares for FY18
Mubasher: Kuwait and Gulf Link Transport’s (KGL) shareholders approved the board’s proposal to distribute bonus shares at 5% of paid-up capital or 5-for-100 shares for the full fiscal year 2018 during a meeting held on Wednesday, 22 May. The total …
EME plans to invest its resources in developing its core divisions and launching new ones
22 May 01:57 PM Fawry acquires EME’s fintech unit for undisclosed amount
Cairo – Mubasher: EME International announced the sale of its financial technology unit to electronic payment platform Fawry. “EME has three separate mobile development divisions, one of which has been dedicated to mobile fintech development for …
Losses increased by 557% to KWD 4.66 million in Q1-19
22 May 10:38 AM IFA to amortise $189m losses
Mubasher: International Financial Advisors’ (IFA) board of directors approved a proposal to amortise accumulated losses at a value of KWD 57.3 million ($189 million) during a meeting held on Tuesday. The loss amortisation will be carried out …
Hotels including shopping centres register a higher occupancy rate of 25%
22 May 09:43 AM Mabanee seeks to involve shopping centres in hotels – CEO
Mubasher: Mabanee Co. is seeking to step up shopping centre business, along with developing the company’s business in the hospitality sector by involving shopping malls, the CEO of the Kuwait-based real estate firm said. Hotels including shopping …
SAICO is exploring new avenues of growth across the Saudi insurance sector
21 May 12:58 PM SAICO inks advisory agreement with Shariyah Review Bureau
Riyadh – Mubasher: Saudi Arabian Insurance Company (SAICO) signed a sharia advisory agreement with Shariyah Review Bureau in a bid to strengthen its core insurance business in light of sharia principles. Under the deal, the leading insurance …
ECOFER will manage slag from Emirates Steel’s Electric Arc Furnace and Ladle Furnace
21 May 12:30 PM Emirates Steel, Finland’s ECOFER sign slag management deal
UAE - Mubasher: Emirates Steel, the UAE’s sole integrated steel plant and a subsidiary of the General Holding Corporation (SENAAT), has signed an agreement with the Finland-based ECOFER. The agreement, set to come into force in 2020, will provide …
The financial impact of this settlement is a credit facility cost worth KWD 23,410
21 May 11:44 AM Al Aman Investment settles KWD 10m credit facility
Mubasher: Al Aman Investment said it repaid a KWD 10 million loan to a local bank on Monday, 20 May. The financial impact of this settlement is a credit facility cost worth KWD 23,410 that will be realised in the company’s consolidated financial …
Dividends will be distributed on 19 June
21 May 10:22 AM National International to pay 5 fils/shr dividends for FY18
Mubasher: National International Holding’s (NIH) ordinary general meeting (OGM) approved distributing a cash dividend of 5 fils per share to shareholders for the full fiscal year 2018 after excluding treasury stocks during a meeting held on …
Kuwait finished around 10% of South Sabah Al Ahmad residential city
21 May 09:21 AM Kuwait to complete two mega housing projects by 2029
Mubasher: Kuwait’s new development scheme, dubbed “New-Kuwait 2035” vision, involves the completion of two mega residential projects; namely, South Sabah Al Ahmad residential city and South Saad Al Abdullah city, by 2029. The GCC nation finished …
EFG Hermes logged net profits of EGP 381.34 million in Q1
20 May 12:07 PM EFG Hermes inks deal with Vietnam's Asia Commercial Bank Securities
Cairo – Mubasher: EFG Hermes announced on Monday signing a partnership agreement with Vietnam’s Asia Commercial Bank Securities (ACBS). Under the deal, EFG Hermes’ customers “will receive on-ground access and intelligence to trade the Hanoi stock …
Zahrat Al Waha will pay a total of SAR 15 million in dividends
20 May 11:03 AM Zahrat Al Waha to pay SAR 1/shr dividends for FY18
Riyadh – Mubasher: The extraordinary general assembly of Zahrat Al Waha for Trading Company approved distributing cash dividends worth SAR 1 a share to shareholders for the full-year 2018 during a meeting held on Sunday.  The Kingdom-based company …
Mahara allocated 90% of the total offering size to institutional investors
20 May 10:31 AM Mahara Human Resources’ IPO oversubscribed by 230%
Riyadh – Mubasher: Samba Capital announced that the initial public offering (IPO) of Mahara Human Resources has been oversubscribed by 230%. The financial advisor, bookrunner, lead manager, and sole underwriter of the IPO added that the offering …
The 17-megawatt BOOT agreement will bring 29 gigawatt-hours of clean energy to Carrefour Jordan stores
20 May 09:57 AM Majid Al Futtaim to bring solar power to Carrefour Jordan stores
UAE - Mubasher: Dubai-based holding company Majid Al Futtaim has signed an agreement with Yellow Door Energy, a leading commercial solar developer based in the UAE, to add solar power to Carrefour stores in Jordan. The 17-megawatt …
The service will be launched within two months after KMEFIC runs the requisite technical tests.
20 May 09:54 AM Kuwait’s CMA awards market maker licence to KMEFIC
Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) has received the Capital Markets Authority’s (CMA) preliminary approval for a six-month market maker licence, starting from 19 May, until 18 November. After that, KMEFIC will obtain a …