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Management Decisions

The CEO resignation will be effective as of 28 March 2021.
1 hour ago stc announces CEO resignation; completes share buyback at SAR 300m
Riyadh – Mubasher: Saudi Telecom Company’s (stc) Board of Directors accepted the resignation of the company’s CEO, Nasser S. Alnasser, on 28 November 2020, which was submitted for personal reasons. The resignation will be effective as of 28 March …
The increase is distributed over 10 million shares
26 November 12:28 PM Egyptians for Investment board nods to EGP 10m capital raise
Cairo – Mubasher: The board of Egyptians for Investment and Urban Development Company has approved the issued and paid-up capital raise by EGP 10 million to EGP 50 million from EGP 40 million. The increase is distributed over 10 million shares …
The Sukuk has an interest rate of 3.908%
26 November 11:50 AM DP World announces profit distribution for $1.2bn Sukuk
Dubai – Mubasher: DP World Crescent Limited has approved the periodic profit distribution for $1.2 billion Sukuk, according to the company's disclosure to Nasdaq Dubai. Due in 2023, the Sukuk has an interest rate of 3.908%. The total value of the …
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25 November 03:49 PM Al Rajhi Bank names new chairman, vice chairman
Riyadh – Mubasher: Al Rajhi Bank’s elected Board of Directors approved appointing Abdullah bin Sulaiman Al Rajhi as the Chairman of the board for the new three-year term that started on 14 November 2020. The board also named Ibrahim bin Mohammed …
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19 November 10:25 AM SADAFCO EGM approves buying back 2.7m treasury shares
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudia Dairy and Foodstuff Company (SADAFCO) approved to purchase up to 2.749 million company shares to be used as treasury shares. The step comes as the board of directors believes …
Shaker Group Head Office - Riyadh
18 November 04:13 PM Shaker Group appoints acting CEO
Riyadh - Mubasher: The board of Al Hassan Ghazi Ibrahim Shaker Co has approved by circulation not to renew the contract of Azzam Saud Almudaiheem as the company’s CEO as of 18 November 2020, based on his request. The step comes as Almudaiheem …
The board has elected the members of the Audit Committee
18 November 09:53 AM Amanat Holdings reelects Hamad Alshamsi as Chairman
Dubai – Mubasher: The board of Amanat Holdings has elected Hamad Abdulla Alshamsi as Chairman and Shamsheer Vayalil as Vice Chairman and Managing Director. During a meeting held on Tuesday, 17 November, the board has also elected the members of …
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18 November 09:37 AM DWF withdraws request to move to Tadawul
Riyadh – Mubasher: Development Works Food (DWF) Company on Wednesday said it has withdrawn its request to transfer the company’s shares from the parallel market to the main market. The step comes as the company is completing some transition …
Its results will be registered in Q4-20
18 November 09:35 AM IFA lowers share in First Takaful Insurance to settle debts
Mubasher: International Financial Advisors (IFA), listed on the Dubai Financial Market (DFM) and Boursa Kuwait, has decreased its share in its subsidiary, the First Takaful Insurance Company, to 53.447% from 90.984%. This decision aims to settle …
Al Issa has been one of the members of Almarai's board
17 November 11:49 AM Almarai appoints new managing director; CEO resigns
Riyadh – Mubasher: The board of Almarai Company has decided to appoint Bader Abdullah Al Issa as a managing director, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday. This decision came after the board had …
This reduction marks the highest percentage of decrease
16 November 10:13 AM Salama registers 24% lower accumulated losses
Dubai – Mubasher: Islamic Arab Insurance Company (Salama) announced a 24% decrease in its accumulated losses to AED 284.82 million for the period ended on 30 September 2020, compared to  AED 376.82 million as of 31 December 2019. Achieving lower …
The Saudi Capital Market Authority (CMA).
12 November 09:17 AM Naseej International submits capital cut request to CMA
Riyadh – Mubasher: Naseej International Trading Company on 11 November submitted a request to the Saudi Capital Market Authority (CMA) for a SAR 116.527 million capital reduction. The company said it will announce further relevant details in due …
BH Mubasher is authorised to deal with an issuer of listed security
11 November 10:10 AM Methaq Takaful appoints BH Mubasher as liquidity provider
Dubai – Mubasher: BH Mubasher Financial Services was appointed as a liquidity provider for Methaq Takaful Insurance Company, upon the approval of the Abu Dhabi Securities Exchange (ADX). Under the role of the liquidity provider, BH Mubasher is …
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10 November 10:19 AM SIEC board recommends SAR 129m capital increase
Riyadh – Mubasher: The Saudi Industrial Export Company’s (SIEC) Board of Directors on 9 November 2020 proposed increasing the company’s capital by SAR 129.6 million via a rights issue. The capital raise will support the company’s future expansion …
The unit's capital will be increased to MAD 582.161 million from MAD 470 million.
10 November 10:06 AM SPIMACO’s Morocco affiliate approves capital raise
Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) said the extraordinary assembly of its 70.65%-owned subsidiary, SPIMACO Morocco for Pharmaceutical Industries, approved increasing the company’s capital …
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9 November 12:25 PM Al Yamamah Steel reappoints Youssef Bazaid as CEO
Riyadh – Mubasher: The Board of Directors of Al Yamamah Steel Industries Company approved reappointing Youssef Saeed Bazaid as the company’s CEO. The appointment shall be effective starting as of 15 November 2020, according to a bourse statement …
The new shares will be deposited into shareholders’ accounts on 18 November 2020.
9 November 09:22 AM Zain KSA’s remaining rights issue 469.1% oversubscribed
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) said on Monday that its remaining rights issue shares were 469.1% oversubscribed. The sale included 59.56 million shares at an average share price of SAR 11.29, the …
The airline will concentrate on its fleet of widebody aircraft
8 November 04:15 PM Etihad undergoes new organisational structure
UAE - Mubasher: Etihad Airways has announced a new organisational structure under which the airline will continue its transformation into a mid-sized and full-service carrier amid the challenges imposed by the coronavirus (COVID-19) pandemic. With …
The administrator of NMC Health seeks to raise recoveries
8 November 11:37 AM NMC Health administrator starts filing legal action against Ernst & Young
UAE - Mubasher: The administrator of NMC Health, Alvarez & Marsal, has taken preliminary steps towards filing a lawsuit against NMC’s auditor, Ernst & Young, Reuters reported. The administrator of NMC Health seeks to raise recoveries for creditors …
Philippe Gas, Qiddiya's newly-appointed CEO.
5 November 12:09 PM Qiddiya names Philippe Gas as new CEO
Riyadh – Mubasher: Qiddiya Investment Company has named Philippe Gas as the company’s CEO effective as of 29 November 2020. Qiddiya is Saudi Arabia’s future capital of entertainment, sports, and arts, guided directly by the inspired leadership of …
flydubai will operate 14 flights a week between Dubai, Tel Aviv
4 November 04:28 PM flydubai to operate flights to Tel Aviv from 26 November
UAE - Mubasher: flydubai will operate 14 flights a week with a double daily service between Dubai International (DXB) and Tel Aviv Ben Gurion (TLV) starting 26 November 2020. This step came after the UAE and Israel had inked an air transport …
This decision will not have an impact on the bank's profitability
4 November 01:28 PM ADCB closes representative offices in London, Singapore
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has closed its representative offices in London and Singapore, in line with its business strategy to focus on the local market. The bank announced that this decision will not have an impact on …
NAS reserves all its rights to object to the termination decision
2 November 12:04 PM Afghanistan Civil Aviation terminates contract with Agility's unit
Mubasher: The Afghanistan Civil Aviation Authority has terminated a contract with the subsidiary of Agility Public Warehousing, National Aviation Services (NAS), as of 4 November 2020. On 8 October 2013, NAS was awarded a contract to offer …
Al Dhaheri will boost the exchange's role in implementing its strategic goals
1 November 09:56 AM ADX appoints new CEO
Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) has named Saeed Hamad Al Dhaheri as CEO, the Abu Dhabi media office reported on Sunday. Al Dhaheri will boost the exchange's role in implementing its strategic goals, contributing to …
The capital will be reduced by cancelling 20.7 million shares
28 October 11:18 AM Alhokair Group's board recommends 38% capital cut
Riyadh – Mubasher: The board of Abdulmohsen Alhokair Group for Tourism and Development Company has recommended to decrease the company's capital by 37.64% to SAR 343 million from SAR 550 million. The capital will be reduced by cancelling 20.7 …