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Management Decisions

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55 minutes ago CMA nods to Nomu listing of Yaqeen, Bank Aljazira’s capital hike
Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of Yaqeen Capital Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). Yaqeen plans to float 3 million shares, equivalent to 20% …
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1 hour ago RAKBANK announces 2 key appointments
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board. The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse …
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18 March 12:28 PM Alandalus Property appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Alandalus Property Company’s board of directors has approved appointing a new Chairman and a Vice Chairman. The new Chairman Abdulsalam bin Abdulrahman Al Aqeel and Vice Chairman Saleh bin Muhammad Al Habib will be non-executive …
Ahmed Hemmat, JLL’s new Head of Project and Development Services (P&DS) in Egypt
17 March 01:00 PM JLL names Hemmat as new head of P&DS in Egypt
Cairo – Mubasher: Ahmed Hemmat was appointed as JLL’s new Head of Project and Development Services (P&DS) in Egypt, according to a press release. Hemmat has more than 20 years of experience in the construction and mixed-use development sector, …
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14 March 04:40 PM SABIC Agri-Nutrients appoints Al Battar as new CEO
Riyadh – Mubasher: SABIC Agri-Nutrients Company appointed Fahad Misfer Al Battar as its new CEO on 14 March 2024, according to a bourse disclosure. Al Battar has more than 25 years of experience in executive leadership and technical and …
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14 March 03:30 PM Ithmaar Holding’s CEO Taleb resigns
Mubasher: Ithmaar Holding, which is listed on Bahrain Bourse as well, has announced the resignation of its CEO, Abdulla Abdulaziz Taleb, according to a bourse filing. Taleb, who will officially leave the company on 14 April 2024, also resigned …
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12 March 01:09 PM CMA approves Nomu listing of Al Hokail, ANB’s capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) passed the request of Al Hokail Academy Specialized Digital Polyclinics Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). The Saudi firm intends to …
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11 March 01:44 PM Misr Chemical Industries announces capital increase
Cairo - Mubasher: The shareholders of Misr Chemical Industries agreed to raise the issued and paid-up capital by half a free share for every original share funded from the profits of fiscal year (FY) 2022-2023. The general assembly also approved …
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10 March 02:29 PM Theeb Rent a Car unveils 2 key appointments
Riyadh – Mubasher: Theeb Rent a Car Company named Mohammed Ahmed Al Theeb as the Chairman of the board for the next three years. The board members also appointed Riyad Saleh Al Malik as the Vice Chairman, according to a bourse disclosure. The two …
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7 March 02:51 PM Chemanol’s board appoints new CEO
Riyadh – Mubasher: The board of directors of Methanol Chemicals Company (Chemanol) has approved appointing Sabri Abdullah Al Ghamdi as the new CEO. Al Ghamdi will keep his responsibilities as a board member and a managing director, according to a …
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6 March 04:19 PM CBE directs local lenders to lift limit on foreign-currency credit cards
Cairo – Mubasher: The Central Bank of Egypt (CBE) has given its directives to banks operating in the country in order to lift spending limits on credit cards in all foreign currencies. This step aims at endorsing the stability of the local …
Mohamed Abdelbary as acting Group CEO of ADIB
6 March 10:35 AM ADIB names Abdelbary as Acting Group CEO
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Abdelbary as its acting Group CEO following the resignation of Nasser Al Awadhi from the same position. Abdelbary joined ADIB in May 2020 as the group CFO from Standard …
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6 March 09:35 AM CMA nods to capital hike of Bank Albilad, Aldrees
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the requests of Bank Albilad and Aldrees Petroleum and Transport Services Company to increase their capital. The Saudi lender will raise its capital by granting one bonus share for …
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5 March 11:31 AM SAPTCO’s losses down 75% in 2023; key appointments, new subsidiary unveiled
Riyadh – Mubasher: The net losses of Saudi Public Transport Company (SAPTCO) amounted to SAR 24.17 million in 2023, lower by 74.91% year-on-year (YoY) than SAR 96.35 million. Revenues increased by 18.96% to SAR 1.56 billion last year from SAR 1.31 …
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3 March 02:00 PM NCLE unveils 2 key appointments
Riyadh - Mubasher: The National Company for Learning and Education (NCLE) appointed Khaled bin Mohammed Al Khudair as the Chairman of the board for three years. NCLE also named Ibrahim bin Abdelrahman Al Derei as the Vice Chairman, according to a …
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3 March 10:54 AM Suez Canal Bank registers higher profits in 2023, capital hike proposal
Cairo – Mubasher: Suez Canal Bank achieved EGP 2.29 billion in net profit after tax during 2023, an annual growth from EGP 1.04 billion. Net interest income amounted to EGP 3.24 billion as of 31 December 2023, marking a year-on-year (YoY) hike …
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28 February 10:56 AM Sinai Cement’s authorised capital to reach EGP 10bn
Cairo – Mubasher: The extraordinary general meeting (EGM) of Sinai Cement agreed to increase its authorised capital to EGP 10 billion, according to a bourse filing. The shareholders also approved raising the issued capital by EGP 1.68 billion to …
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27 February 11:26 AM Emaar The Economic City’s board approves CEO’s contract non-renewal
Riyadh – Mubasher: Emaar The Economic City’s board of directors approved a request by incumbent CEO Cyril Piaia for not renewing his contract. Piaia’s contract is set to end on 31 August 2023, according to a bourse filing. Moreover, the company …
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26 February 11:58 AM Alhokair Group’s CEO resigns; Al Obailan appointed
Riyadh – Mubasher: Sami Abdulmohsen Al Hokair resigned from his position as the CEO of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group). Al Hokair resigned from his position on 25 February 2024, yet the resignation will be …
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21 February 05:41 PM Cenomi Retail names Acting CEO
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) announced appointing Salim Fakhouri as Acting CEO starting 1 March 2024. Fakhouri will succeed Gunther Helm who resigned for personal reasons, according to a bourse filing. …
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21 February 11:53 AM SPIMACO confirms Jerome Cabannes as CEO
Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has appointed Jerome Cabannes as CEO starting 20 February. Cabannes has been serving as Acting CEO since October 2023, previously holding the position …
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20 February 11:50 AM United Cooperative appoints new Chairman, Vice Chairman
Riyadh – Mubasher: United Cooperative Assurance Company named Khalid Hussein Ali Reza as the Chairman of the board for three years. Khalid Ahmed Al Hamdan was announced as the Vice Chairman, according to a bourse disclosure. The two officials …
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20 February 11:05 AM National Gypsum anticipates 11% higher costs following Aramco's increase in fuel prices
Riyadh – Mubasher: National Gypsum Company has announced that the increase in fuel prices by Saudi Arabian Oil Company (Aramco) as of 1 January is expected to raise the sales cost by 10.81%. The impact of the raised fuel prices is expected to …
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19 February 02:45 PM CIB obtains FRA’s nod for capital hike
Cairo – Mubasher: The Financial Regulatory Authority (FRA) granted its approval for the Commercial International Bank-Egypt (CIB) to increase the issued and paid-up capital to EGP 30.43 billion from EGP 30.19 billion. CIB aims to raise its issued …
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15 February 11:02 AM ADIB Egypt’s profits exceed EGP 4.6bn in 2023; capital raise proposed
Cairo – Mubasher: The consolidated net profits after tax of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) hit EGP 4.67 billion in 2023, higher year-on-year (YoY) than EGP 2.18 billion. The lender generated net income from returns valued at EGP 8.92 …