Management Decisions

The Kingdom must set clear-cut criteria to prioritise the assets and services that will be privatised
1 hour ago Major Saudi industries keen on privatisation – Report
Riyadh – Mubasher: A slew of Saudi Arabia’s industries are expressing interest in implementing privatisation as the GCC nation is pushing ahead with the crown prince’s “Vision 2030” reform plan in a bid to diversify the oil-dependent economy and …
The CMA has stated the capital reduction will be subject to the EGM’s approval
23 May 11:14 AM Saudi CMA nods to SPMC’s capital cut
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Saudi Paper Manufacturing Company’s (SPMC) request to trim the capital to SAR 245 million from SAR 450 million. SPMC’s shares will decrease to 24.5 million shares from 45 …
The insurance segment in Kuwait is currently facing challenges
22 May 01:31 PM United Insurance plans to list on Boursa Kuwait by 2021
Mubasher: United Insurance Company has planed for listing its shares on Boursa Kuwait by 2021, as the company’s current profile endorses it to list on the stock exchange, the chairman of United Insurance Yousef Fraih Al Harbi said, as reported by …
Arabian Shield’s capital will increase to SAR 300 million
22 May 11:43 AM Saudi Arabian Shield OKs 50% capital hike
Riyadh – Mubasher: Saudi Arabia-based Arabian Shield Cooperative Insurance Company on Tuesday announced that its shareholders approved to raise capital by 50% through bonus shares during an extraordinary general meeting (EGM) held the previous …
Total distributions amount to SAR 455.1 million after deducting Zakat and before deducting income tax.
22 May 10:44 AM Saudi Airlines Catering nods to SAR 455m dividends for FY2017
Riyadh – Mubasher: Saudi Airlines Catering Co. on Tuesday announced that its shareholders had approved a cash dividend distribution of 55% of the capital for 2017 during an extraordinary general meeting (EGM) held the previous day. Total …
Increasing Burgan capital will be through cash dividends
21 May 11:06 AM Kuwait C.bank approves Burgan Bank’s capital hike
Mubasher: Burgan Bank announced that the Central Bank of Kuwait (CBK) has approved, on 20 May, for Burgan to raise its issued and paid-up capital to KWD 250 million. Increasing Burgan's capital will be through cash dividends by undertaking a …
Nasdaq Dubai to launch equity futures on Saudi-listed firms
21 May 10:50 AM Nasdaq Dubai to launch equity futures on Saudi-listed firms
Dubai – Mubasher: Nasdaq Dubai on Monday announced plans to launch equity futures on stocks of major companies listed on the Saudi Stock Exchange (Tadawul). Futures trading is expected to start during the third quarter of 2018 in a bid to provide …
The listing will be executed through a private subscription
20 May 02:16 PM Integrated Holding mulls IPO on Boursa Kuwait – Chairman
Mubasher: Integrated Holding is expected to achieve a growth of 19% in profits to KWD 15.8 million by the end of fiscal year 2018, chairman Jassim Boodai said in an interview with Al Anba Newspaper. In FY17, Integrated Holding recorded a …
The OGM also approved the launch of sukuk
20 May 11:09 AM Union Properties nods to foreign sharehold limit hike, AED 1bn sukuk
Dubai – Mubasher: Union Properties’ ordinary general meeting (OGM) has approved a proposal to increase the foreign shareholding ceiling to 49% from 25%. The OGM also approved the launch of sukuk at a maximum value of AED 1 billion with no more …
GIH’s accumulated losses totalled KWD 10.67 million
15 May 04:57 PM GIH proposes capital cut to offset losses
Mubasher: The board members of Gulf Investment House (GIH) recommended a capital reduction to trim the company’s accumulated losses as registered on 31 December 2017. GIH’s board proposed a decrease to KWD 6.09 million from KWD 16.40 million, …
The bank will be welcoming customers from 9:30 am to 1:30 pm
15 May 12:09 PM CBE publishes Ramadan working hours
Cairo – Mubasher: The Central Bank of Egypt (CBE) on Tuesday announced that working hours during the holy month of Ramadan will start at 9:00 am Cairo time and end at 2:00 pm. The bank will be welcoming customers from 9:30 am to 1:30 pm, the CBE …
Saudi slashes entry visa charges for Indonesians, Indians
14 May 11:49 AM Saudi slashes entry visa charges for Indonesians, Indians
Riyadh – Mubasher: The Saudi embassy in Kuwait decided to trim the charges of entry visas to the kingdom for some nationalities, informed sources said. The nationalities who will get benefit of this decision are Indonesians and Indians, Al-Anba …
Raising the bank’s current capital will be suitable for the current shareholders
13 May 03:58 PM Burgan Bank mulls KWD 60m capital hike – CEO
Mubasher: Burgan Bank plans to raise its capital by KWD 60 million, CEO of the bank Eduardo Eguren said, according to a recent bourse statement. This capital hike will be considered in line with open markets, the CEO said, adding that the stock …
SHUAA Capital names Alothri as Saudi unit CEO
13 May 02:29 PM SHUAA Capital names Alothri as Saudi unit CEO
Dubai – Mubasher: Dubai-based SHUAA Capital on Sunday has announced appointing Atif AlOthri as the CEO of its wholly owned-subsidiary Gulf Finance Saudi Arabia. AlOthriwill lead a team that will provide a slew of financial lending and leasing …
Ramadan 1439 is projected to start as of Thursday, 17 May 2018.
13 May 12:42 PM EGX sets Ramadan working hours
Cairo – Mubasher: The Egyptian Exchange (EGX) on Sunday announced the trading hours during the holy month of Ramadan will start at 10:00 am Cairo time and end at 1:30 pm. The preopening session will start at 9:30 am, as orders registration of …
Al Aman will shrink the capital by KWD 4.65 million
10 May 05:14 PM Boursa Kuwait to suspend Al Aman’s stock
Mubasher: Boursa Kuwait announced that it will suspend the trading on Al Aman Investment starting from Sunday, 13 May until Wednesday, 16 May. This decision was made based on Al Aman’s ordinary general meeting’s (OGM) resolution to reduce the …
The board elected Mohamed Hamad Al Mehairi as vice chairman
10 May 11:11 AM Arabtec Holding’s board names new chairman
Dubai – Mubasher: Arabtec Holding’s board has elected Mohamed Thani Murshed Al Rumaithi as chairman during a meeting held on Wednesday. The board also elected Mohamed Hamad Al Mehairi as vice chairman, according to a bourse statement. The …
DFM begins DIB’s right issue trading on 16 May
9 May 04:49 PM DFM begins DIB’s right issue trading on 16 May
Dubai – Mubasher: The Dubai Financial Market (DFM) on Wednesday has announced that trading of Dubai Islamic Bank’s (DIB) rights issue shares will take place on 16 May. Trading of the bank's rights issue, that ends on 30 May, enables incumbent …
Saudi PIF names Alhagbani as director for investments
9 May 02:59 PM Saudi PIF names Alhagbani as director for investments
Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) has appointed Abdulmajeed Alhagbani as a director for public investments, informed sources told Bloomberg on Wednesday. Alhagbani joined PIF earlier in May, they said. Prior to his …
Sinopec took this move after the price of Saudi crude rose to its highest level in about 4 yrs
3 May 12:55 PM Chinese Sinopec to trim Saudi crude oil imports by 40% in June
Riyadh – Mubasher: China-based Sinopec plans to reduce its purchases of Saudi crude oil in June by 40%, an official has said on Thursday.  Asia's largest refiner took this move after the price of Saudi crude rose to its highest level in about four …
The accumulated losses will be offset from the issue premium of KWD 15.6 million
2 May 03:58 PM Specialities Group’s OGM nods to trimming losses
Mubasher: The ordinary general meeting (OGM) of Specialities Group Holding approved not to distribute cash dividends for fiscal year 2017. Specialities Group agreed to offset the accumulated losses until 31 December 2017 at a total value of KWD …
Totonji will focus on developing new business relationships
2 May 12:58 PM Moody’s opens office in Saudi Arabia, names GM
Riyadh – Mubasher: Moody's Investors Service (Moody’s) on Wednesday announced the inauguration of an office in the Saudi capital of Riyadh as part of its expansion plans in the kingdom and overseas markets. Moody’s also appointed Mahmoud Totonji …
The CCP’s board of directors approved to appoint Wael Abdullah Al Hazzani as CEO.
2 May 10:53 AM Tadawul launches Central Counterparty Clearing House
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Wednesday announced launching the Central Counterparty Clearing House (CCP) for clearing securities, a closed joint company with SAR 600 million capital. The firm aims to develop future …
The OGM recommended the appointment of an expertise house
1 May 10:43 AM Marka’s shareholders defer capital cut
Dubai – Mubasher: Marka’s ordinary general meeting (OGM) has approved the continuance of the company’s activities and postponed its decision regarding a proposed capital reduction or increase to another meeting to be held on 4 September. The …
Aramco also raised Butane price in May deals to $505 per tonne, up from $470 per tonne in April
30 April 01:05 PM Aramco raises May propane prices to $500/tonne
Riyadh – Mubasher: State-run Saudi Aramco, the world's largest oil producer, on Monday announced increasing propane prices in May contracts to $500 per tonne, compared to $475 per tonne a month earlier. The Middle Eastern oil giant also raised …