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01 April 04:30 AM

Management Decisions

Abu Dhabi Securities Exchange (ADX)
28 March 05:27 PM BH Mubasher obtains margin-trading license from ADX
Mubasher: The Abu Dhabi Securities Exchange (ADX) has granted BH Mubasher Financial Services a license for short-term margin trading. The company becomes the first financial services provider to offer this service to its clients in the UAE, …
Trading Activities
ADQ has added 14 new companies to its portfolio
24 March 05:09 PM ADDH unveils ADQ as its new identity
UAE - Mubasher: Abu Dhabi Developmental Holding Company (ADDH) has announced its new identity, ADQ, according to a press release on Tuesday. ADQ has added 14 new companies to its portfolio, raising the total number of its companies to more than 25 …
Corporate Actions
flydubai has announced the suspension of all flights and operations
24 March 11:19 AM flydubai halts operations for 2 weeks due to COVID-19
Dubai – Mubasher: flydubai has announced the suspension of its operations from 26 March to 9 April as part of the precautionary measures taken by the UAE to combat the coronavirus (COVID-19) outbreak. flydubai’s move follows the decision of the …
Management Decisions
The company's supermarkets, hypermarkets, and pharmacies will remain open
24 March 09:41 AM Aldar closes malls over COVID-19 fears
Abu Dhabi – Mubasher: Aldar Properties has decided to close all its all malls for a two-week period starting Tuesday, due to the coronavirus (COVID-19) outbreak. However, the company's supermarkets, hypermarkets, and pharmacies will remain open, …
Management Decisions
Amin Nasser, President and CEO of Aramco - (Photo Archive)
22 March 01:08 PM Aramco closely monitoring coronavirus situation – CEO
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is closely monitoring the situation of the coronavirus (COVID 19) outbreak on a daily basis, Saudi Press Agency (SPA) reported. Aramco has developed emergency and prevention plans …
Board of Directors
The company wants to maintain liquidity to face impacts of precautionary measures
22 March 11:33 AM Saudi Airlines Catering delays dividends on COVID-19 worries
Riyadh – Mubasher: Saudi Airlines Catering Company (SACC) will postpone distributing the cash dividends for the fourth quarter (Q4) of 2019 to shareholders until further notice. The decision is due to the difficulty in determining how long the …
Cash Dividends
Annual net profits decreased by 1.1% on a an annual basis
18 March 12:33 PM stc posts SAR 10.7bn profits, plans SAR 300m share repurchase
Riyadh – Mubasher: The Saudi Telecom Company (stc) reported a 1.06% decline in annual profits for last year, as shown by its annual consolidated financial results for 2019. Net profit after zakat and tax for last year amounted to SAR 10.67 …
Financial Results
The capital hike will be through the issuance of bonus shares
17 March 06:01 PM CMA approves eXtra’s capital hike request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved United Electronics Company’s (eXtra) request to increase its capital from SAR 500 million to SAR 600 million. The capital hike will be through the issuance of one bonus share …
Management Decisions
Emirates has closed flights from and to nine cities
17 March 11:30 AM Emirates, flydubai suspend 16 flight routes
UAE – Mubasher: Emirates airline and flydubai have temporarily halted more than 16 flight routes starting 17 March, due to the coronavirus (COVID-19) outbreak, Zawya reported. Emirates has closed flights from and to nine cities in Portugal, Malta, …
Global Economy
Net losses reached SAR 24.56 million last year
16 March 01:31 PM Wafrah narrows annual losses, plans 61% capital cut
Riyadh – Mubasher: Wafrah for Industry and Development Company reported a 7.32% decline in annual net losses for last year. Net losses after zakat and tax amounted to SAR 24.56 million for 2019, down from SAR 26.5 million in 2018, as shown by the …
Financial Results
Photo Archive
16 March 11:55 AM Ma’aden appoints new CEO
Riyadh – Mubasher: The board of Saudi Arabian Mining Company (Ma’aden) has appointed Mosaed Bin Suleiman Al Ohali as the company’s CEO. The decision is effective starting from the beginning of April 2020, according to the company’s statement to …
Management Decisions
The decision is subject to regulatory approvals
16 March 11:51 AM Kuwait Cable Vision cancels request to delist from Boursa Kuwait
Mubasher: The board of Kuwait Cable Vision has cancelled the company’s withdrawal request from Boursa Kuwait and called for a general assembly meeting. The decision will be subject to regulatory approvals, according to a bourse disclosure on …
Board of Directors
Dubai Airports has denied the rumors over the suspension of all flights
15 March 03:51 PM Dubai Airports denies suspending all flights
UAE – Mubasher: Dubai Airports has denied rumours circulating on social media over the suspension of all flights to and from the UAE due to the new coronavirus pandemic. Both Dubai International Airport (DXB) and Dubai World Central (DWC) continue …
Management Decisions
The move helps efforts across the kingdom to limit the spread of the new coronavirus
15 March 02:17 PM stc employees to work remotely for two weeks
Riyadh – Mubasher: The Saudi Telecom Company (stc) announced that 3,000 employees will start working remotely as of Sunday for two weeks, in line with efforts to combat the spread of the new coronavirus (COVID-19). The initiative is also part of …
Management Decisions
The increase represents 5% of the company's capital
15 March 12:13 PM Boubyan Bank’s shareholders approve KWD 14m capital hike
Mubasher: Boubyan Bank’s extraordinary general meeting (EGM) has approved increasing the bank’s authorised, issued, and paid-up capital by 144.203 million shares at KWD 14.42 million, representing 5% of the capital. The capital hike will be …
Board of Directors
The capital hike will finance UPAC’s future operations
15 March 10:43 AM UPAC board approves 45% capital hike
Mubasher: The board of United Projects Company for Aviation Services (UPAC) has approved raising the company’s issued and paid-up capital by 45% to KWD 23.85 million from KWD 16.45 million, subject to regulatory approvals.      Therefore, the …
Companies Investments
DXB Entertainments has closed its parks till the end of the month
15 March 10:30 AM DXB Entertainments halts operations over coronavirus fears
Dubai – Mubasher: DXB Entertainments has temporarily closed all its theme parks until 31 March to face the coronavirus (COVID-19) outbreak and re-evaluate the situation globally. The closure of the theme parks comes in line with the direction of …
Companies Investments
Dana Gas is the Middle East’s largest regional private sector natural gas company
12 March 12:23 PM Dana Gas commences arbitration against MOL, OMV
Abu Dhabi – Mubasher: Dana Gas, listed on the Abu Dhabi Securities Exchange (ADX), announced the commencement of arbitration proceedings, together with Crescent Petroleum, against MOL Hungarian Oil and Gas Public Limited Company (MOL) on 14 …
Management Decisions
The distributions will be paid on 9 April 2020
10 March 04:48 PM Kuwait Ooredoo approves 50 fils/shr dividends for 2019
Mubasher: The National Mobile Telecommunications Company’s (Ooredoo) ordinary general meeting (OGM) on Tuesday consented to the board’s proposal to distribute cash dividends of 50 fils per share or 50% of the share’s nominal value for 2019 after …
Management Decisions
The OGM approved a remuneration of KWD 40k to board members
10 March 04:18 PM Aqar Real Estate nods to 5% cash dividends for 2019
 Mubasher: The shareholders of Aqar Real Estate Investments Company approved, during their ordinary general meeting (OGM), the board’s recommendation of paying KWD 1.06 million cash dividends or five fils per share for fiscal year 2019, …
Cash Dividends
The company decreased its capital by 34.8% to amortise losses
5 March 05:37 PM GO narrows accumulated losses to SAR 77m
Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) has reduced its accumulated losses to SAR 76.85 million, representing 33.63% of the company’s capital. This comes after the company decreased its capital by 34.8% to amortise about …
Financial Results
The capital will be raised through the issuance of 430 million shares
5 March 01:27 PM CBI’s shareholders to mull raising capital to AED 2.2 billion
Abu Dhabi – Mubasher: Shareholders of the Commercial Bank International (CBI) will vote in the next ordinary general meeting (OGM) on the board’s proposal to raise the bank’s capital from AED 1.7 billion to AED 2.167 billion. The capital will be …
Banking and Finance
Jassim Boodai has been named at the bank's new chairman
4 March 03:33 PM GBK appoints new chairman
Mubasher: Gulf Bank of Kuwait (GBK) has named a new board of directors effective as of Wednesday, 4 March.  The new board will be chaired by Jassim Mustafa Jassim Boodai, succeeding Omar Kutayba Yousif Al Ghanim, who will be become a board …
Banking and Finance
Final decision will be made during the OGM's coming meeting
3 March 04:53 PM Sharjah Cement may withdraw from Boursa Kuwait
Abu Dhabi – Mubasher: Shareholders of Sharjah Cement and Industrial Development Company, dually listed on the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait, will discuss delisting the company’s shares from Boursa Kuwait during the next …
Management Decisions
Photo Archive
3 March 04:01 PM SCC reveals compensation to right issue owners
Riyadh – Mubasher: Saudi Cable Company (SCC) announced the distribution of the compensation amounts to the holders of the rights issue who did not exercise their right to subscribe to new shares. Total compensation is valued at a total of SAR …
Corporate Actions