Management Decisions

The delisting decision is due to the incapability of raising its capital to KWD 10 million
26 September 05:42 PM Kuwait Gypsum to consider delisting late October
Mubasher: Kuwait Gypsum Manufacturing and Trading will hold its board meeting on 27 October to discuss its withdrawal from Boursa Kuwait (Parallel Market). On 21 February, the board members approved the recommendation of delisting from the stock …
For shipments up to 300 kilograms in the UAE, the average rate will increase by 4.9%, DHL explained
26 September 01:09 PM DHL to hike delivery rates in MENA
Dubai – Mubasher: International logistics and delivery company DHL Express has announced that it will raise its annual rates in the Middle East and North Africa (MENA). This rise will be effective as of 1 January 2018, according to a company …
Headquarter of the EFSA
26 September 12:11 PM EFSA suspends 6 clients on EGX over manipulation
Cairo – Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has decided to suspend six clients from trading on the Egyptian Exchange (EGX) for manipulating securities and not conforming with the capital market law and its executive …
“Our new set of appointees will play crucial roles in driving more productivity and growth for the company,” he added
25 September 01:13 PM DSI announces key Management Appointments
Dubai - Mubasher: Drake & Scull International (DSI) on Monday announced key Management appointments and changes.  Ziad Makhzoumi was appointed as an Advisor to the Board of Directors and Muin El Saleh was appointed as the new Managing Director of …
MedGulf’s EGM approved capital cut to SAR 400m
25 September 09:51 AM MedGulf’s EGM approved capital cut to SAR 400m
Riyadh – Mubasher: MedGulf Insurance and Reinsurance Cooperative Company’s (MedGulf) Extraordinary General Meeting (EGM) approved on Friday, 22 September to reduce its capital to SAR 400 million from SAR 1 billion. The capital decrease will be …
Alabbar is also the founder of the $1 billion e-commerce platform Noon, in which Saudi Arabia’s Public Investment Fund (PIF) has a 50% stake
24 September 02:19 PM Aramex appoints Emaar’s Alabbar as board member
Dubai – Mubasher: Aramex on Sunday announced that its board of directors has approved the nomination and remuneration committee’s recommendations with regard to appointing Mohamed Alabbar as a board member. Mohamed Alabbar “will fill the current …
Trading activities will resume on Metal and Recycling Company’s stock starting Sunday
24 September 09:21 AM Boursa Kuwait to resume trading on Metal and Recycling stock's Sunday
Kuwait – Mubasher: Boursa Kuwait stated that trading activities will resume on Metal and Recycling Company’s (MRC) stock, effective Sunday, 24 September. By the end of the previous week, the firm’s shareholders approved a capital hike of 21.12% …
IFC to pump $150m in Egypt’s agriculture sector – Minister
23 September 03:23 PM IFC to pump $150m in Egypt’s agriculture sector – Minister
Cairo – Mubasher: The executive board of the International Finance Corporation (IFC), the subsidiary of the World Bank (WB) approved on Friday to invest $150 million in Egypt’s agricultural sector, the Minister of Investment and International …
ADFG to invest in Egypt’s educational sector – Minister
23 September 01:19 PM ADFG to invest in Egypt’s educational sector – Minister
Cairo – Mubasher: Abu Dhabi Financial Group (ADFG) is interested in investing in Egypt's educational sector during the coming period, Egypt’s Minister of Investment and International Cooperation Sahar Nasr said on Friday during meeting with the …
Saudi Arabia Medgulf owed this amount to Medgulf Bahrain
22 September 07:18 PM Medgulf Bahrain reduces debts to SAR 123m
Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance (Medgulf) on Thursday announced a settlement of Medgulf Bahrain debts, amounting to SAR 163.38 million, by SAR 40.59 million. Saudi Arabia Medgulf owed this amount to …
Al Tayyar signed a one-year agreement with Saudi Airlines for issuing tickets for Ministry of Education employees
22 September 03:42 PM Al Tayyar invests in hotel development fund, signs with Saudi Airlines
Riyadh – Mubasher: The board of Al Tayyar Travel Group Holding on Thursday agreed on contributing in a special real estate fund for developing medium-sized hotels. The board approved assigning three pieces of land in Jeddah to the fund, the …
Trading will resume as of Monday, 25 September, according to the MSM’s statement on Thursday
21 September 06:14 PM MSM closes Sunday for new Hijri Year
Mubasher: The Muscat Securities Market (MSM) has announced that Sunday, 14 September, will be a holiday on the occasion of the Hijri New Year. Trading will resume as of Monday, 25 September, according to the MSM’s statement on Thursday. The …
KSA approved SAR 9bn to access optic wires, broadband – Minister
21 September 10:06 AM KSA nods to SAR 9bn optic wires, broadband access – Minister
Riyadh – Mubasher: Saudi Arabia approved SAR 9 billion for fiber optics and broadband access to all the Kingdom’s regions, Bloomberg on Wednesday reported, citing Abdullah bin Amer Al-Sawahah, the minister of communication and information …
EGX announced Thursday 21 September an official holiday in celebration of the the Islamic New Year 1439
19 September 10:57 AM EGX announces New Hijri Year holiday
Cairo – Egypt: The Egyptian Exchange (EGX) on Tuesday announced that Thursday 21 September will be an official holiday in celebration of the beginning of the Islamic New Year 1439, according to an official statement. Trading will be resumed on …
Saudi Arabia plans to reduce the subsidy on gasoline and jet fuel prices during the coming two months, Bloomberg reported on Monday, citing informed sources as saying
18 September 03:40 PM KSA to raise gasoline, jet fuel prices by 80% in 2M – Bloomberg
Riyadh – Mubasher: Saudi Arabia plans to reduce the subsidy on gasoline and jet fuel prices during the coming two months, Bloomberg reported on Monday, citing informed sources as saying. “The government is taking its first step in removing …
Shumool is 60% owned by Kuwait-listed Mabanee
18 September 12:29 PM Mabanee’s KSA unit appoints new CEO
Kuwait – Mubasher: Mabanee Company announced on Monday the appointment of Ayman Mohamed Al-Mudaifer as CEO of Shumool Holding, a subsidiary of Mabanee in Saudi Arabia. The new CEO appointment is effective Tuesday, 19 September, according to the …
QIC’s profits retreated 27.4% in the second quarter of 2017 to QAR 203.5 million versus QAR 280.1 in the year-ago period
18 September 12:25 PM QIC closes Abu Dhabi branch
Doha – Mubasher: Qatar Insurance Company (QIC) declared on Monday that its business licence for its branch in Abu Dhabi was not renewed due to the current political situation in the region. “We are sorry to inform you that the company will have to …
“Ooredoo GDR was admitted to trading on the London Stock Exchange on July 1999”, the statement said
17 September 11:04 AM Ooredoo de-lists GDRs from LSE
Mubasher: Ooredoo announced on Sunday that the de-listing process of its global depository receipts (GDRs) from the London Stock Exchange (LSE) was completed on 31 August 2017, according to a company statement to the Qatar Stock Exchange (QSE). …
US-based Cargill to pump $150m investments in Egypt – Mink
16 September 06:12 PM US' Cargill to pump $150m investments in Egypt
Cairo – Mubasher: The US-based Cargill plans to invest about $150 million in Egypt during the coming period, the firm’s regional manager in Egypt Melvin Mink said during a meeting with Sahar Nasr, Egypt’s minister of investment and international …
Kuwait to reduce oil revenues contribution in GDP to 35% – Al-Sabeeh
14 September 03:14 PM Kuwait to reduce oil revenues contribution in GDP to 35% – Al-Sabeeh
Kuwait – Mubasher: Kuwait plans to reduce oil revenues contribution to its gross domestic product (GDP) to 35% from 60% by the end of the development plan, Kuwaiti Minister of Social Affairs, Labor, and Economic Affairs Hind Al-Sabeeh said. This …
Safat Global has a capital of KWD 6.68 million
12 September 03:54 PM Safat Global to change company name mid-September
Mubasher: Safat Global Holding Company has changed its name to become Tamkeen Holding Co., according to a bourse statement issued on Tuesday. The change of the company’s name will be effective starting from 14 September 2017. It is noteworthy that …
The new board members are all senior executives at ENGIE, Tabreed said in a statement to the Dubai Financial Market (DFM) on Tuesday
12 September 02:25 PM Tabreed shareholders elect new board members
Dubai - Mubasher: The general meeting of National Central Cooling Company (Tabreed) has elected four new board members. The new board members are all senior executives at ENGIE, Tabreed said in a statement to the Dubai Financial Market (DFM) on …
MNHD added that the board approved the conversion ratio of 1 GDR for every four owned shares, or at 1-for-4 ratio
12 September 02:18 PM MNHD nods to BNY Mellon deal to issue GDRs
Cairo - Mubasher: Madinet Nasr for Housing & Development’s (MNHD) board on Tuesday approved the conversion of 1.5 million shares of its capital to global depositary receipts (GDRs). MNHD signed a deal with the Bank of New York Mellon (BNY Mellon) …
Medgulf would reduce its capital by 60%
12 September 01:48 PM Medgulf files for capital reduction to CMA
Riyadh – Mubasher: MedGulf Insurance and Reinsurance Cooperative Company (MedGulf) on Tuesday announced that it has submitted a capital reduction file to the Saudi Capital Market Authority (CMA). Any future developments would be announced in time, …
The shareholders have disapproved the financial statements of FY16
11 September 04:21 PM Yiaco stock suspended on financials disapproval
Mubasher: Boursa Kuwait on Monday has suspended trading on Yiaco Medical’s stock, following the ordinary general meeting (OGM) on Sunday, until the income statements are approved. The shareholders have disapproved the financial statements of …