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Management Decisions

One of Petro Rabigh's plants
22 January 06:21 PM Petro Rabigh’s board approves resignation of chairman
Riyadh – Mubasher: Rabigh Refining and Petrochemical Company’s (Petro Rabigh) board has accepted the resignation of the company’s chairman Abdulaziz Mohamed Al Judaimi effective 1 February 2020. The board also decided to name Ibrahim Qassem …
One of Takween's factories
22 January 06:06 PM Takween names Ali Al Jameel as CEO
Riyadh – Mubasher: Takween Advanced Industries Company’s board has announced the appointment of Ali Hassan Al Jameel as CEO effective 2 February 2020. The appointment of Al Jameel takes place after the end of the commission of Jameel Abdullah Al …
Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk
20 January 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved
Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …
Photo Archive
20 January 12:22 PM Wafa Insurance shareholders reject board’s report for FY18
Riyadh – Mubasher: Saudi Indian Company for Cooperative Insurance (Wafa Insurance) announced that its ordinary general assembly meeting (OGM) has not approved the board of directors’ and auditor reports for fiscal year (FY) 2018. Moreover, the OGM …
The company plans 50% capital reduction to offset accumulated losses
19 January 04:39 PM Saudi Enaya appoints financial advisor for capital cut
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company announced that it has appointed Aljazira Capital as a financial advisor for its proposed capital cut. Enaya announced earlier that the company’s board of directors has recommended …
Appointing Kesisoglu came as Property Finer's MENA expansion plans
19 January 12:14 PM Property Finder hires Facebook, Google’s tech expert as new president
UAE – Mubasher: Property Finder, a UAE-born start-up which helps buyers and renters to find a home, has appointed the technology leader, Ari Kesisoglu, as the new president. The appointment of Kesisoglu, who previously led various positions in …
Photo Archive
19 January 11:51 AM GO reveals accumulated losses exceeded SAR 180m
Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) announced that accumulated losses amounted SAR 180.98 million. The accumulated losses have now reached around 51.6% of the company’s capital, according to a statement to the Saudi …
The capital cut will be through the cancellation of 15 million shares
19 January 11:34 AM Saudi Enaya board recommends 50% capital cut
Riyadh – Mubasher: The board of Saudi Enaya Cooperative Insurance Company has recommended decreasing the company’s capital by 50% to SAR 150 million, down from SAR 300 million. The capital cut will be through the cancellation of 15 million shares …
Capital Market Authority
16 January 05:25 PM CMA approves Tihama’s capital hike request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Tihama Advertising and Public Relations Company’s request to increase its capital through a SAR 100 million rights issue. The increase will be limited to the shareholders who …
The aim is to offset the nearly SAR 60 million accumulated losses
16 January 04:04 PM ACIG board recommends 29.5% capital cut
Riyadh - Mubasher: The board of the Allied Cooperative Insurance Group (ACIG) has recommended reducing the company’s capital by 29.5% from SAR 200 million to SAR 141 million then raising the capital by SAR 150 million. The aim is to offset …
Photo Archive
16 January 03:51 PM Maharah Human Resources appoints new CEO
Riyadh – Mubasher: The board of Maharah Human Resources Company announced ending the service of CEO Yousef bin Mohammed Al Ghafari. The board of directors has approved the appointment of Abdulkareem bin Hamad Al Nujaidi as the company’s new CEO, …
Wafrah will soon file for the capital cut to the Capital Market Authority
15 January 04:25 PM Wafrah appoints financial advisor for capital decrease
Riyadh – Mubasher: Wafrah for Industry and Development Company has announced the appointment of Wasatah Capital as the financial advisor for its capital decrease. The company will soon present its capital decrease request to the Saudi Capital …
Photo Archive
14 January 10:28 AM Aslak profits surge 211% in 2019; board recommends capital cut
Riyadh – Mubasher: United Wire Factories Company (Aslak) reported a 211.27% year-on-year (YoY) growth in net profits after Zakat and tax during 2019, as shown by the company’s annual estimated financial results for last year. Profits amounted to …
1 March is set for the ownership of Al Aman’s shares
9 January 01:15 PM Securities House’s shareholders approve merger with Al Aman
Mubasher: The extraordinary general meeting of The Securities House approved the contract proposal for the signed merger with Al Aman Investment. Securities House, which owns 50% of Al Aman’s KWD 15 million, will be the merging company, while Al …
International Resorts’ profits reached about KWD 257,850 in Q3-19
9 January 10:42 AM International Resorts to withdraw from bourse on Thursday
Mubasher: Boursa Kuwait announced that International Resorts’ voluntary delisting from the market will be effective by the end of Thursday’s trading session. The company referred that the withdrawal does not have any impact on its financial …
SIIG's share of that reduction is SAR 703 million
9 January 10:08 AM SIIG cuts capital of two jointly managed companies
Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) announced the capital reduction of its jointly managed companies, Saudi Chevron Phillips (SCP) and Jubail Chevron Phillips (JCP), which are 50% owned by SIIG. The share capital of SCP has …
A prior meeting of Arzan Financial
8 January 04:46 PM Arzan’s unit changes equity ownership in Hill Top to 25%
Mubasher: Arzan Financial Group for Financing and Investment announced that Arzan Capital Holding Limited’s equity in Hill Top Netherlands 4 PLC has decreased from 49% to 25%. Arzan Capital is a 78.60%-owned subsidiary of Arzan Financial. The sale …
Suspending flights to Al Najaf will continue until security is restored
5 January 04:23 PM Kuwait Airways comments on ‘suspending flights to Iraq’
Mubasher: Kuwait Airways announced that its flights to Al Najaf Al Ashraf City in Iraq have been suspended for about four weeks in coordination with the concerned government authorities, due to the security status quo in Iraq. This announcement …
The anticipated contract's period has been increased by three years
5 January 01:13 PM Heliopolis Housing extends strategic investor’s contract
Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) has decided to extend the period of its anticipated strategic partnership contract with an investor to manage the company from seven to ten years. The decision came in response …
IFA is a dual-listed company on the DFM & Boursa Kuwait
2 January 12:58 PM Kuwait’s CMA approves IFA’s 17.5m shares offering
Mubasher: International Financial Advisors (IFA) received the approval of the Capital Markets Authority (CMA) in Kuwait to sell 17.45 million of the company’s treasury shares. The CMA’s approval is valid for a period of six months starting from …
Losses will be offset via annual profits
2 January 11:29 AM Salama’s board approves to offset accumulated losses
Dubai – Mubasher: The board of Islamic Arab Insurance Company (Salama) decided during its recent meeting to extinguish its accumulated losses. The board discussed offsetting the accumulated losses through the future annual profits without reducing …
The capital hike will take place through the issuance of 25 million shares
1 January 10:57 AM Saudi Cable approves SAR 250m capital hike
Riyadh – Mubasher: Shareholders of the Saudi Cable Company has approved on Tuesday raising the company’s capital by SAR 250 million through a rights issue. The company’s extraordinary general assembly meeting (EGM) approved the board’s …
Sultan Center’s profits reached KWD 1.07 million in 9M-19
31 December 2019 05:59 PM CMA nods to Sultan Center’s KWD 15m convertible bonds prospectus
Mubasher: Sultan Center Food announced the approval of the Capital Markets Authority (CMA) for the prospectus of the private placement on issuing KWD 15 million worth of convertible bonds to ordinary shares in the company’s capital. The company …
Kuwait Cable Vision posted a decline of 53.5% in losses in 9M-19
31 December 2019 05:37 PM Kuwait Cable Vision nods to delist from Boursa Kuwait
Mubasher: The shareholders of Kuwait Cable Vision issued, during the recent ordinary general meeting (OGM), a resolution to voluntarily withdraw from Boursa Kuwait. The company said that the withdrawal was unanimously approved as the company’s …
Walaa Cooperative Insurance will raise its capital to SAR 646.4 million
30 December 2019 05:34 PM CMA approves Walaa Cooperative capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Walaa Cooperative Insurance Company’s request to increase its capital to merge MetLife AIG ANB Cooperative Insurance Company into its business through a securities exchange …