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Management Decisions

DSI appointed Saed Saabneh as the new group CFO
17 July 10:29 AM DSI appoints new CFO
Dubai – Mubasher: Drake & Scull International (DSI) on Wednesday announced the appointment of Saed Saabneh as the group’s new chief financial officer (CFO), according to a bourse filing. In June, DSI, listed on the Dubai Financial Market (DFM), …
The company has also endorsed the remuneration payable to the board for the fiscal year 2018
14 July 10:06 AM Shuaa Capital approves resignation of Jassim Alseddiqi
Dubai – Mubasher: Shuaa Capital on Sunday announced the approval of Jassim Alseddiqi’s resignation from the company’s board of directors at its general assembly meeting held last Thursday. Moreover, the leading investment banking company approved …
Mohamed Al Hashimi will be assigned the role of Carey
11 July 04:06 PM ADNOC Distribution’s deputy CEO steps down
Abu Dhabi – Mubasher: ADNOC Distribution, the UAE’s largest fuel and convenience retailer, on Thursday announced that the company’s deputy CEO John Carey has stepped down from his role. Moreover, Mohamed Al Hashimi, in the new role of chief …
The capitalisation of Mohamed Rashed Al Dowish Company is SAR 50,000
10 July 04:59 PM Abo Moati approves unit liquidation
Riyadh – Mubasher: The board of directors of Abdullah Saad Mohammed Abo Moati for Bookstores Company (Abo Moati) has approved the liquidation of its subsidiary, Mohamed Rashed Al Dowish for Trade. The move was driven by the fact that the …
Hirschi will leave the FSRA in the fourth quarter of 2019
8 July 01:27 PM Executive director of ADGM’s FSRA resigns
UAE - Mubasher: The Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi, announced on Monday that Thomas Hirschi has resigned as the executive director of banking and insurance of ADGM’s Financial Services Regulatory …
Mobily eyes attracting highly qualified Saudis to bolster its position
8 July 01:07 PM Mobily names Khaled Abanami as CFO
Riyadh – Mubasher: Etihad Etisalat Co (Mobily) has appointed Khaled Abanami as the company’s chief financial officer (CFO), replacing Kais Ben Hamida. The appointment underscores the company’s keenness to strive to empower national talent to lead …
Haroon will lead Bayut’s ambition to provide world-class support to developers
8 July 12:09 PM Bayut names new CEO in Saudi Arabia
Mubasher: The UAE’s largest online property portal, Bayut.com, has appointed Haroon Rashid as a new CEO in Saudi Arabia in a bid to lead the company’s expansion into the GCC nation. In May, Bayut announced its expansion drive into the Saudi market …
Abdulaziz Bin Abdulla Al Zamil was appointed as the new chairman
7 July 02:56 PM Alinma Bank appoints new chairman, vice chairman
Riyadh – Mubasher: The ordinary general assembly meeting of Alinma Bank has elected a new board of directors for the three-year term ending 20 May 2022. The assembly has named Abdulaziz Bin Abdulla Al Zamil as the board’s new chairman, according …
The decision will become effective starting from Sunday, 7 July
7 July 11:36 AM Almarai names Georges P. Schorderet as new CEO
Riyadh – Mubasher: The board of directors of Almarai Co has appointed Georges P. Schorderet as the new CEO, replacing Alois Hofbauer, who resigned for personal reasons. The board has accepted the resignation of Alois Hofbauer on Saturday, 6 July, …
Gerband Nijman will adopt a non-executive role
4 July 01:12 PM Global Telecom names new CEO
Cairo – Mubasher: Global Telecom Holding (GTH) announced the appointment of Gerband Nijman as the new CEO. Nijman, who will succeed Vincenzo Nesci, will adopt a non-executive role, the company said in a statement to the Egyptian Exchange (EGX) on …
The board affirmed the appointment of Abdel Hadi al Sa’adi as the CEO
4 July 11:09 AM Al Safwa Mubasher elects new chairman
Dubai – Mubasher: Al Safwa Mubasher Financial Services, listed on the Dubai Financial Market (DFM), on Thursday revealed it elected Al Hurr Mohammad Al Suwaidi as the company’s chairman of the board of director. This came on the sidelines of a …
Al Garawi will continue as a chief advisor
4 July 09:46 AM Advanced Petrochemical appoints new CEO
Riyadh – Mubasher: Advanced Petrochemical Company has appointed Fahad Salem Al Matrafi as its new CEO as of 16 August after the resignation of Abdullah M. Al Garawi. Al Garawi submitted his resignation, and it will be effective as of 16 August, …
The new board will serve for a three-year term
3 July 07:00 PM ADDHC names Abu Dhabi Ports’ new chairman
UAE – Mubasher: The Board of Directors of Abu Dhabi Developmental Holding Company (ADDHC) has appointed Falah Mohamed Al Ahbabi as the new chairman of the Abu Dhabi Ports Company (ADPC). ADDHC’s board also issued a resolution to form a board of …
Ahmed Jassim Al Gumar is Kuwait Foundry’s chairman
2 July 04:40 PM Kuwait Foundry not to renew CEO contract
Mubasher: Kuwait Foundry has reached an agreement with its chief executive officer (CEO) for his last working date to be on Thursday, 4 July 2019. Kuwait Foundry’s board, which held a meeting on 11 June, made the above-mentioned decision of not …
The company has not revealed any further details regarding this matte
2 July 12:09 PM Emaar Mall’s CEO steps down
Dubai – Mubasher: Emaar Malls, a unit of Dubai's largest listed developer Emaar Properties, on Tuesday announced that its CEO Patrick Bousquwt-Chavanne has discontinued his role. The responsibilities of the CEO will be handled by the company’s …
Dividends will be distributed within 15 days as of the EGM date
1 July 11:37 AM Bupa Arabia’s shareholders approve SAR 1.5/shr dividends for 2018
Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Co on Monday announced that its shareholders had approved to distribute a cash dividend of SAR 1.5 per share or 15% of the share’s nominal value for the fiscal year ended 31 December 2018 …
The ADX constantly seeks to launch new initiatives to diversify available investment products
30 June 04:00 PM ADX cuts trading commission fees by 50%-90% in July
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) on Sunday announced that it will cut its trading commission fees as of 1 July 2019 in a bid to make the ADX among the least expensive stock markets in the MENA region in terms of …
Completing the re-lease deal was expected to attract an immediate inflow of approximately SAR 2.5bn.
25 June 04:53 PM Zain calls off tower sales deal on regulations
Riyadh – Mubasher: Saudi Zain announced that the tower sales deal with IHS Holding has been cancelled, as HIS Global Limited, the buyer, was not able to fulfil the regulatory requirements. “We have received a letter from the Communications and …
Cleopatra will hold 90% of the JV
25 June 03:27 PM Cleopatra Hospital launches JV with Taleem Management Services
Cairo – Mubasher: Cleopatra Hospital Co. has announced that it signed an agreement with Taleem Management Services, the owner of Nahda University. Under the agreement, both companies will create a joint venture (JV), Cleopatra added in a statement …
The decision came into force starting from Tuesday
25 June 02:10 PM Al Akaria names Kelvin Kwok as new CEO
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has appointed Kelvin Kwok as the company’s new CEO. The decision came into force starting from Tuesday, 25 June, according to a bourse filing on Tuesday. Kwok boasts of extensive experience …
Prince Mishaal is a related party in the deal
24 June 11:42 AM Shams acquires 53% stake in Hemaia Group
Riyadh – Mubasher: Tourism Enterprise Company (Shams) has finalised the acquisition of a 53% stake in Hemaia Group through raising Hemaia’s capital by SAR 10 billion.  According to the transaction, the capital increase will be paid in cash from …
The company will distribute a total of SAR 5.9 million for the 12-month period
24 June 10:34 AM Aljazira Capital to pay 5% cash dividends for 1 year
Riyadh – Mubasher: Aljazira Capital will pay a 5% cash dividends to unitholders of Aljazira Mawten REIT Fund for the second half of 2018 and the first half of 2019. The company will distribute a total of SAR 5.9 million, or SAR 0.5 per unit, for …
FAB conducts its business in accordance with the highest professional standards
19 June 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
Danah Al Safat's capital will become KWD 10.93 million
18 June 11:44 AM Danah Al Safat proposes capital cut, offsetting losses
Mubasher: The board members of Danah Al Safat Foodstuff have recommended a capital reduction of KWD 1.24 million. Danah Al Safat’s board has also submitted its proposal to the Capital Markets Authority (CMA) to offset the accumulated losses as …
The bank affirmed appointing David Dew as the managing director
17 June 01:00 PM SABB hires Lubna Olayan as chairman following merger with Alawwal Bank
Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday announced that its board of directors decided to appoint Lubna Sulaiman Olayan as the bank’s chairman until the end of the term of the board following the previously signed merger …