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Management Decisions

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16 July 04:31 PM CBRE names new Managing Director for MENA
Mubasher: Global real estate firm CBRE Middle East has appointed Michael Young as its new Managing Director for the MENA region as of 1 July 2024. With over two decades of experience across Asia Pacific, the UK, and MENA, Young brings proven …
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14 July 04:00 PM Saudi Enaya enters into insurance agreement with Fakeeh Care
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has been awarded and signed an insurance contract with Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) on 12 July 2024. Saudi Enaya received a confirmation to provide …
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14 July 02:17 PM Multiply Group accepts Chairman’s resignation; Shueb succeeds
Abu Dhabi – Mubasher: The board of Multiply Group approved the resignation of Andre Sayegh from his position as the Chairman of the company due to personal reasons and professional commitments. Sayegh’s resignation became effective on 9 July 2024, …
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14 July 01:37 PM Amlak International announces key board appointments
Riyadh – Mubasher: Amlak International Finance Company has appointed Abdullah bin Ibrahim Al Howaish as the Chairman for the new board term, which commenced on 4 June 2024. The company appointed Amr bin Mohammed Kamel as the Vice Chairman and …
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11 July 08:46 AM FRA greenlights EG Bank’s capital raise
Cairo – Mubasher: The Financial Regulatory Authority (FRA) passed the request of Egyptian Gulf Bank (EG Bank) to increase its issued and paid-up capital to $510.10 million from $499.50 million. The $10.60 million raise will be distributed over …
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10 July 07:37 PM Burgerizzr unveils key board appointments
Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) has appointed Mohammed bin Ali Al Ruwaigh as the Chairman of the board for the coming four years. Sami bin Mohammed Obaid has been named as the Vice Chairman for the same board …
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10 July 05:58 PM Ras Al Khaimah raises equity ownership in RAK Properties to 34%
Abu Dhabi – Mubasher: The Emirates of Ras Al Khaimah has increased its stake in RAK Properties to reach 34.16% following the Securities and Commodities Authority’s (SCA) approval. This equity raise comes upon the March annual general meeting (AGM) …
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10 July 04:48 PM RAK White Cement ratifies 25% acquisition offer from India’s UltraTech Cement; details unveiled
Abu Dhabi – Mubasher: The general assembly meeting of Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) approved, on 9 July 2024, the conditional cash offer from Indian manufacturer UltraTech Cement Middle East …
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10 July 02:58 PM Al Seer Marine elects Chairman, Vice Chairman
Abu Dhabi – Mubasher: The board members of Al Seer Marine Supplies & Equipment have elected Readh Faraj Ahmed Alkindi as the Chairman of the board, upon a resolution in their 9 July 2024 meeting. Meanwhile, General Jasem Yousef Yaqoob Almansoori …
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9 July 03:22 PM Ayyan Investment obtains shareholders’ nod for 25% capital hike
Riyadh – Mubasher: The shareholders of Ayyan Investment Company approved a 24.80% capital raise to SAR 1 billion from SAR 806.36 million, according to a bourse disclosure. After implementing the transaction, the number of shares will stand at …
Martijn Blanken, CEO of NEO Space Group
8 July 03:14 PM PIF’s Neo Space names Blanken as new CEO
Riyadh – Mubasher: NEO Space Group (NSG), a wholly-owned subsidiary of the Saudi Public Investment Fund (PIF), appointed international telecoms industry veteran Martijn Blanken as its new group CEO. Neo Space plans to unlock the potential of space …
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7 July 12:38 PM Amak appoints news Acting CEO
Riyadh – Mubasher: Al Masane Al Kobra Mining Company (Amak) ended the contract of Christopher Gerard Warwick, the Acting CEO of AMAK. The board members named Nihat Soyer as an Acting CEO of Amak on 4 July 2024, according to a bourse disclosure. …
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7 July 09:44 AM Umm Al Qura Cement names 2 key appointments
Riyadh – Mubasher: Umm Al Qura Cement Company appointed Abdullah Abdulaziz Suleiman Alabdulatif as the Chairman of the board for the coming three years. Saud Mahamed Ali Al Sabhan was announced as the Vice Chairman, according to a bourse …
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4 July 03:17 PM Elm’s CEO resigns; Alomair succeeds
Riyadh – Mubasher: Abdulrahman Saad Al Jadhai resigned from the position of CEO of Elm Company after leading the company for more than 12 years. Al Jadhai submitted his resignation on 3 July 2024 for personal reasons, yet it will be effective on …
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4 July 11:58 AM TADCO names new Chairman, Vice Chairman
Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) appointed Majid Ahmed Ibrahim Al Suwaigh as the Chairman of the board for the next three years. Ahmed Sirag Khogeer was appointed as the Vice Chairman, according to a bourse …
President of Egypt, Abdel Fattah El-Sisi
3 July 01:23 PM Egypt’s new ministers announced after Cabinet reshuffle
Cairo – Mubasher: Egypt’s new government was reportedly unveiled, on 3 July, under the leadership of Prime Minister, Mostafa Madbouly. Extra News channel revealed the names of the entire new ministerial formation, which was approved by President …
Patrick Johansson, Ericsson's Head of Market Area Middle East and Africa
3 July 09:41 AM Ericsson appoints Johansson as Head of MMEA region
Mubasher: Nasdaq-listed Ericsson has announced Patrick Johansson as its new Head of Market Area Middle East and Africa (MMEA) and Senior Vice President. The new head will replace Fadi Pharaon whose decision to leave Ericsson was announced in May …
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1 July 09:44 AM Kingdom Holding announces 2 key appointments
Riyadh – Mubasher: Kingdom Holding Company named Prince Alwaleed bin Talal bin Abdulaziz Al Saud as the Chairman of the board for the next three years. Lama Abdulaziz Al-Sulaiman was appointed as the Vice Chairman, according to a bourse …
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30 June 11:15 AM Makkah Construction and Development announces CEO resignation
Riyadh – Mubasher: The board of Makkah Construction and Development Company has accepted the resignation of Fahd Muhammad Al Fawaz from the position of CEO due to personal circumstance. The decision will be effective 1 July 2024, according to a …
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27 June 05:38 PM Saudi Ceramics’ shareholders approve 25% capital increase
Riyadh – Mubasher: The equityholders of Saudi Ceramic Company (Saudi Ceramics) greenlighted, during the 26 June extraordinary general meeting (EGM), a capital hike by 25% to SAR 1 billion from SAR 800 million, according to a bourse disclosure. The …
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27 June 11:15 AM FRA approves ADIB Egypt, e-finance’s capital hike
Cairo – Mubasher: The Financial Regulatory Authority (FRA) passed the capital raise requests of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) and e-finance for Digital and Financial Investments, according to bourse disclosures. ADIB Egypt will …
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26 June 12:27 PM 2P Prefect Presentation, Pan Gulf announce capital hike
Riyadh – Mubasher: Prefect Presentation for Commercial Services (2P Prefect Presentation) and Pan Gulf Marketing Company obtained the shareholders’ approval, on 25 June, to increase their capital. 2P Prefect Presentation will raise its capital by …
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25 June 03:39 PM Budget Saudi’s shareholders greenlight 10% capital raise
Riyadh – Mubasher: The shareholders of United International Transportation Company (Budget Saudi) approved the board’s recommendation to increase the capital and acquire all shares of Al Jazeera Equipment Company Limited (AutoWorld). The new …
Mostafa Madbouly, Prime Minister of Egypt
24 June 03:08 PM Key ministers to keep posts in new Egyptian government - Sources
By: Abdel Razek El-Showeikhy Cairo – Mubasher: Egypt’s new government formation will be announced this week and the new ministers will take a constitutional oath before President Abdel Fattah El-Sisi at the beginning of next week, parliamentary …
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24 June 02:24 PM SASCO names Chairman, Vice Chairman
Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) has appointed Chairman, Vice Chairman, and a Managing Editor. The company’s board appointed Ibrahim Mohammed Alhudaithi as Chairman, according to a bourse filing. The board also named …