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17 September 09:52 PM

Management Decisions

DSI named new CFO in mid-July
16 September 11:28 AM DSI appoints new Investor Relations Officer
Dubai – Mubasher: Drake and scull International (DSI) announced that it has appointed Nader Mugbil as the firm’s new Investor Relations Officer (IRO) to replace the former IRO, according to a disclosure to the Dubai Financial Market (DFM) on …
Board of Directors
The exchange ratio is about 2.326 shares of AUB Bahrain for a share of KFH
15 September 02:29 PM AUB Bahrain approves exchange ratio of merger with KFH
Mubasher: Ahli United Bank – Bahrain (AUB Bahrain) accepted the conclusions contained in the due-diligence review and valuation reports, and approved the share exchange ratio with Kuwait Finance House (KFH) by approximately 2.326 shares of AUB …
Mergers and Acquisitions
Fujairah Building Industries appoints Kaushik Das as CFO
15 September 01:55 PM Fujairah Building Industries appoints new CFO
Abu Dhabi – Mubasher: Fujairah Building Industries, listed on the Abu Dhabi Securities Exchange (ADX), on Sunday announced the appointment of Kaushik Das as its Chief Financial Officer (CFO), according to a bourse filing. It is worth noting that …
Corporate Actions
Johan will be EITC’s CEO in early 2020
15 September 09:04 AM UAE’s EITC appoints new CEO
Dubai – Mubasher: Emirates Integrated Telecommunications Company (EITC), on Sunday announced it has appointed Johan Dennelind as its new Chief Executive Officer (CEO). Johan will be EITC’s CEO in early 2020, replacing Osman Sultan who recently …
Management Decisions
The final decisions will be subject to the approval concerned parties
12 September 05:17 PM KFH approves exchange ratio of merger with AUB Bahrain
Mubasher: The board of directors of Kuwait Finance House (KFH) approved the advisors’ reports and due-diligence review results, in addition to the final exchange ratio between the shares of KFH stock and Ahli United Bank – Bahrain (AUB Bahrain) by …
Companies Investments
The short selling mechanism will enhance the EGX's liquidity
12 September 05:06 PM Egypt to activate short selling in November - FRA's vice chairman
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has approved the launch of short selling transactions in November, Ahram Gate reported, citing FRA’s vice chairman Khaled El-Nashar as saying. The short selling mechanism is expected …
Management Decisions
National Building’s stock will be back to trading after 20 trading sessions
12 September 10:47 AM Tadawul halts trading on National Building’s stock on Thursday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced that it has suspended National Building and Marketing Company’s stock from trading, as the company had failed to disclose the financial statements for the second quarter of 2019 …
Markets Regulations
Kuwait Bahrain Exchange has failed to trade on most of its shares
10 September 05:43 PM Kuwait Bahrain Exchange to delist from Boursa Kuwait
Mubasher: The ordinary general meeting (OGM) of Kuwait Bahrain International Exchange has approved the optional withdrawal from Boursa Kuwait, the company disclosed to Boursa Kuwait on Tuesday. In April 2019, the board of the company ascribed the …
Management Decisions
Saudi DWF’s profits retreated by 16.57% to SAR 2.24 million
10 September 02:43 PM Saudi DWF’s shareholders approve capital raise to SAR 25m
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Development Works Food Company (DWF) on 9 September approved to increase the firm’s capital to SAR 25 million from SAR 12.5 million through granting 100% bonus shares of the retained …
Corporate Actions
Wail has an experience of over 33 years in the UAE
4 September 09:04 AM Arabtec appoints new group COO
Dubai - Mubasher: Arabtec Holding, a Dubai-based leading contractor for social and economic infrastructure, on Wednesday announced it has appointed Wail Farsakh as group chief operating officer (COO). Wail has an experience of over 33 years in the …
The issued capital will be increased by EGP 130 million to EGP 250 million
3 September 06:11 PM Egypt’s FRA nods to Delta Insurance’s capital raise procedures
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) approved to publish the disclosure form of Delta Insurance to proceed in raising its authorised and issued capital. The disclosure form includes the board of directors’ approval to …
Management Decisions
Jacob has experience of nearly 21 years in the networking industry
2 September 10:02 AM Aruba appoints new regional lead for Middle East
UAE – Mubasher: Aruba, a Hewlett Packard Enterprise (HPE) company, on Monday announced it has appointed Jacob Chacko as its Regional Lead for Middle East - UAE, Qatar, Saudi, Egypt, Gulf, and the Levant. Jacob will be assigned the regional sales …
Management Decisions
The second phase of the programme include ten state-run companies
1 September 11:19 AM Egypt postpones 2nd phase of privatisation programme to early 2020
Cairo – Mubasher: Egypt’s second phase of state privatisation programme has been postponed from the planned date of September to January 2020, the country’s the public enterprise minister Hisham Tawfik told Enterprise. “Some procedures have taken …
Management Decisions
The voluntarily delist from Boursa Kuwait plans will have no impact on Ithmaar Bank
1 September 09:03 AM Ithmaar Holding’s shareholders nod to voluntarily delist from Boursa Kuwait
Mubasher: Bahrain-based Ithmaar Holding on Sunday announced that its shareholders approved plans to voluntarily delist the company’s shares from Boursa Kuwait. The company will remain listed on the Bahrain Bourse, Dubai Financial Market (DFM), …
Corporate Actions
Google aims to move its US-bound hardware out of China
28 August 06:10 PM Google to relocate China’s Pixel smartphone production in Vietnam–Report
Mubasher: Google is moving its Pixel smartphone production out of China to Vietnam, as from this year, within its push to build a cheap supply chain, according to Nikkei business daily. The US internet giant aims to move its US-bound hardware out …
The company’s net profits slid to EGP 1.55 million in H1
28 August 12:54 PM Egyptians Abroad rebrands as Odin Investments
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved changing the name of Egyptians Abroad for Investment and Development to Odin Investments. In addition, the EGX’s committee also approved in its meeting on Tuesday raising …
Management Decisions
TAQA elects new members to its board of directors
28 August 10:51 AM TAQA elects new board members
Abu Dhabi - Mubasher: Abu Dhabi National Energy Company (Taqa), a leading global energy and water company based in the UAE, announced it has elected three new members to its board of directors. The new board members approved by the company’s …
Management Decisions
GTH’s EGM approved the voluntary delisting of the company’s shares
27 August 02:07 PM EGX to delist GTH’s stock on Wednesday
Cairo – Mubasher: The Egyptian Exchange (EGX) announced that shares of Global Telecom Holding (GTH) will be delisted from the open market as of the beginning of trading session on 28 August. The EGX’s listing committee approved GTH’s voluntary …
Event
Mika Toivola has over 25-year of international and UAE experience
22 August 11:49 AM Azizi Developments appoints new CFO
UAE – Mubasher: Azizi Developments, a leading private property developer in the UAE, announced it has appointed Mika Toivola as the company’s chief financial officer (CFO). Mika Toivola has over 25-year of international and UAE experience in …
Real estate
The Egyptian Exchange
15 August 04:27 PM Al Salam Group’s shares on DFM, EGX exceed 40%
Mubasher: Al Salam Group Holding clarified that the shares listed on the Egyptian Exchange (EGX) total 34.039 million shares or 12.624% of the overall issued shares. Furthermore, the Kuwaiti company said that its shares listed on the Dubai …
Management Decisions
GTH’s shares will be delisted as of 14 August
8 August 01:58 PM EGX executes mandatory tender offer for GTH’s shares at EGP 9.7bn
Cairo – Mubasher: The Egyptian Exchange announced the closure of the mandatory tender offer for shares of Global Telecom Holding (GTH) submitted by VEON Holdings B.V. at a combined value of EGP 9.72 billion. The total number of shares tendered …
Management Decisions
Trading activities will resume on Wednesday, 14 August
4 August 10:23 AM DFM unveils Eid Al Adha holiday
Dubai – Mubasher: The Dubai Financial Market (DFM) on Sunday announced that the Eid Al Adha holiday will start on Sunday, 11 August. Trading activities will resume on Wednesday, 14 August, the DFM added in a statement.
Macroeconomics
EGM will be discussing the write-off decision
1 August 08:44 AM UNB Egypt approves optional write-off of shares on EGX
Cairo – Mubasher: Union National Bank - Egypt (UNB Egypt) said that its board of directors has approved to optionally write off the bank’s shares listed on the Egyptian Exchange (EGX). The extraordinary general meeting (EGM) will be discussing the …
General Assembly
GB Auto’s stock will be listed in the EGX70 index
31 July 03:22 PM Global Telecom, GB Auto among companies delisting from EGX 30
Cairo – Mubasher: The Egyptian Exchange (EGX) decided to delist six stocks from the benchmark EGX30 index, including Global Telecom Holding (GTH) and Ghabbour Auto (GB Auto), as part of the EGX’s semi-annual review of the market indices. As a …
Management Decisions
IHC approves election of new chairman
30 July 11:16 AM UAE’s IHC elects new chairman
Abu Dhabi – Mubasher: International Holdings Company (IHC), listed on the Abu Dhabi Securities Exchange (ADX), announced that its board of directors has approved the election of Nadir Ahmad Al Hammadi as the company’s chairman. The board also …