Management Decisions

A new bid will be announced later for the project
21 February 05:22 PM Saudi GACA terminates 2 firms’ contract for King Abdulaziz Airport
Riyadh – Mubasher: The Saudi General Authority of Civil Aviation (GACA) on Wednesday decided to terminate its contracts with Changi Airports International (CAI) and Saudi Naval Support Home for the operation and management of the new King …
Al Ayoub has a 20-year experience in managing SWFs
21 February 11:39 AM Meraas Holding appoints new CEO
Dubai – Mubasher:  Meraas Holding appointed senior executive at Kuwait’s sovereign wealth fund Osama Al Ayoub as a CEO, the Dubai-based company stated. Al Ayoub has a 20-year experience in managing sovereign wealth funds (SWFs), the Dubai -based …
SAFCO’s net profits plunged 76.71% to SAR 62.51 in the fourth quarter of 2017.
21 February 11:04 AM SAFCO's board proposes SAR 1/shr dividends for H2-17
Riyadh – Mubasher: The Saudi Arabian Fertilizer Co’s (SAFCO) board of directors recommended the distribution of SAR 416.67 million in cash dividends with a dividend per share of SAR 1 for the second half of 2017, representing 10% of the share’s …
This deal is very important on the back of strong relations between the two countries
20 February 02:59 PM Saudi CSC inks cooperation deal with Italy’s SACE
Riyadh – Mubasher: The Council of Saudi Chambers (CSC) on Tuesday has signed a cooperation agreement with the Italian Export Credit Agency (SACE) to boost economic collaboration between the kingdom and the European country. This deal is very …
NCB’s capital will be increased to SAR 30 billion, up from SAR 20 billion
19 February 05:08 PM CMA nods to Saudi NCB's capital hike
Riyadh – Mubasher: The Saudi Arabia-based National Commercial Bank (NCB) has obtained the Capital Market Authority’s (CMA) approval for raising its capital by SAR 10 billion through bonus shares. NCB’s capital will be increased to SAR 30 billion, …
Another firm will be licensed to act as a liquidity provider during the first half of 2018
19 February 01:32 PM ADX to list local firm as market maker – CEO
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) plans to list a domestic company to act as a market maker by the next month, ADX’s CEO Rashed Al Blooshi said. Another firm will be licensed to act as a liquidity provider during the …
All important decisions shall be approved by the company’s OGM
19 February 11:57 AM Union Properties denies capital reduction reports
Dubai – Mubasher: Union Properties does not plan to reduce its capital, the Dubai Financial Market (DFM) listed company stated in a bourse statement on Monday, denying some reports circulating on social media. All important decisions shall be …
Capital decrease will be implemented through cancelling 17 million shares
19 February 11:46 AM MetLife's board recommends 49% capital reduction
Riyadh – Mubasher: MetLife AIG ANB Cooperative Insurance Company’s board of directors on Monday recommended trimming capital by 48.6% to SAR 180 million from SAR 350 million. Capital decrease will be implemented through cancelling 17 million …
Al Yamamah Steel to discuss 2017 dividends early March
19 February 10:39 AM Al Yamamah Steel to discuss 2017 dividends early March
Riyadh – Mubasher: Al Yamamah Steel Industries Co’s board of directors will discuss the dividends that were distributed during the full year 2017 on Tuesday, 6 March. The metal products manufacturer distributed SAR 1.5 dividends last year, …
Bayan achieved a profit of nearly KWD 33,420 in FY17
19 February 10:03 AM Bayan Investment FY17 financials turn profitable
Mubasher: Bayan Investment reported a decline of 88.8% in losses during the fourth quarter of 2017 compared to the same period in the prior year. Losses decreased to about KWD 36,380 ($121,820) in Q4-17 from approximately KWD 323,730 ($1.08 …
GFH will hold its board meeting on 25 February
19 February 09:45 AM GFH to consider Ahmed Al Mutawa resignation late February
Mubasher: GFH Financial Group will hold its board meeting on Sunday, 25 February, to discuss the resignation of the deputy chairman Ahmed Al Mutawa from his membership in the boards of GFH, Khaleeji Commercial Bank, and GFH Capital Limited. The …
GFH Group announced the resignation of Al Seddiqi in November
18 February 02:06 PM GFH Group’s managing director withdraws his resignation
Dubai – Mubasher: GFH Group - the Dubai-, Bahrain-, and Kuwait-listed firm, stated on Sunday that group’s board member Jassim Mohammed Al Seddiqi has withdrawn his resignation, according to a filing to the Dubai Financial Market (DFM). In …
Al Rajhi Bank recommended the distribution of SAR 4.06 billion in cash dividends
18 February 10:11 AM Al Rajhi Bank proposes SAR 2.5/shr dividends for H2-17
Riyadh – Mubasher: Al Rajhi Bank’s board of directors recommended the distribution of SAR 4.06 billion in cash dividends with a dividend per share of SAR 2.5, representing 25% of the share’s par value, according to a statement to the Saudi Stock …
Danah Al Safat to offset accumulated losses worth about KWD 957,540
18 February 09:29 AM Danah Al Safat to shrink capital by 48.5%
Mubasher: The ordinary general meeting (OGM) of Danah Al Safat Foodstuff approved on Thursday, 15 February, to decrease its capital by 48.48%. Danah Al Safat will shrink its capital by KWD 14 million to KWD 14.875 million from KWD 28.875 million …
Arabian Shield's capital will rise to SAR 300 million, up from SAR 200 million
15 February 05:25 PM Arabian Shield OKs 50% capital hike via bonus shares
Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company’s board of directors on Thursday recommended raising capital by 50% or SAR 100 million through bonus shares. The capital of the insurance products and services provider will rise to …
Al Aman closed Thursday’s session 3.6% higher at 52 fils
15 February 05:06 PM Al Aman Investment board proposes 24% capital cut
Mubasher: The board members of Al Aman Investment have recommended shrinking capital by 23.7% to KWD 15 million from KWD 19.65 million, according to a bourse statement on Thursday. The capital decrease will be executed through cancelling 16.48 …
OPEC will continue collaboration with non-OPEC nations
15 February 03:07 PM KSA to boost natural gas output in 10 yrs – Minister
 Riyadh – Mubasher: Saudi Arabia plans to raise its natural gas production to 23 billion cubic feet per day (Bcf/d) in the next decade, Minister of Energy, Industry, and Mineral Resources Khalid Al-Falih said on Wednesday. The Organization of the …
The cigarette maker aims to pay EGP 57.5 billion in taxes in FY2018/2019
15 February 11:39 AM Eastern Co to pay EGP 57.5bn to state treasury in FY2018/19
Cairo – Mubasher: Eastern Co on Thursday said that its draft budget for the fiscal year 2018/2019 aims to raise its tax payments to the state treasury by 16% year-on-year. The cigarette maker aims to pay EGP 57.5 billion in taxes in FY2018/2019, …
The financial impact of suspending the third production line will appear as of January 2018
15 February 10:16 AM Najran Cement specifies financial impact of suspending production line
Riyadh – Mubasher: Saudi Arabia's Najran Cement Company on Thursday said that the financial impact of stopping the third production line and reoperating the second one is estimated to be SAR 11.3 million which represented additional fixed costs.  …
A number of committees were formed to privatise all sectors of the Saudi Post
15 February 09:50 AM KSA to privatise post's services in 2018 – Minister
Riyadh – Mubasher: Saudi Arabia will start privatising Saudi Post's services during 2018, said Communications and Information Technology (MCIT) Minister Abdullah Alswaha said. The first phase of privatising the state-run postal system will …
The oil-rich nation continues trimming oil stockpiles
15 February 09:26 AM KSA to maintain March oil exports below 7m bpd – Ministry
Riyadh – Mubasher: Saudi Arabia will keep oil exports below 7 million barrels per day (bpd) in March, despite the closure of SAMREF’s refinery, that produces 400,000 bpd, for maintenance, the Ministry of Energy, Industry and Mineral Resources …
Nafais Holding was first listed on Boursa Kuwait in early May 2005
14 February 09:43 AM Nafais Holding to delist from Boursa Kuwait on Thursday
Mubasher: Nafais Holding announced that the company will officially withdraw from Boursa Kuwait on Thursday, 15 February 2018, according to a bourse filing on Wednesday. Late March 2017, the Capital Markets Authority (CMA) has approved the …
The new board has been elected for three years
13 February 02:46 PM Inovest shareholders elect new board
Mubasher: The ordinary general meeting (OGM) of Inovest, which is listed on both Boursa Kuwait and Bahrain Bourse (BHB) has approved the resignation of its board members on Monday, 12 February. Inovest’s shareholders have elected new board …
There were no amendments on MSCI Saudi Arabia Small Cap Index.
13 February 02:19 PM MSCI removes SAIB from Saudi index for leading companies
Riyadh – Mubasher: Morgan Stanley Capital Index (MSCI) announced removing the Saudi Investment Bank (SAIB) from MSCI Saudi Arabia Index for leading companies. There were no amendments on MSCI Saudi Arabia Small Cap Index. MSCI Index for leading …
The CITC will liquidate a  bank guarantee worth SAR 50 million presented by GO.
13 February 10:22 AM Saudi CITC to retrieve frequencies from Go
Riyadh – Mubasher: The Saudi Communications and Information Technology Commission (CITC) has informed Etihad Atheeb Telecommunication (Go) about retaking the frequencies 700 and 1800 MHz, formerly awarded to the Saudi Arabia-based telecoms …