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GFH will purchase the shares of KHCB through a shares exchange
17 October 11:31 AM GFH announces precondition satisfaction to acquire KHCB
Dubai – Mubasher: GFH Financial Group has announced the satisfaction of preconditions and firm intention to make an offer to acquire up to 100% of the issued and paid-up ordinary shares of  Khaleeji Commercial Bank (KHCB). GFH will purchase the …
The updated ratings reflect the group’s sound liquidity
7 October 08:43 AM CI upgrades GFH's corporate ratings; outlook stable
Dubai – Mubasher: Capital Intelligence Ratings has upgraded the long-term and short-term corporate ratings of GFH Financial Group at 'BB-' and 'B', respectively, with a stable outlook. The updated ratings reflect the group’s sound liquidity, …
National Industries Group gave Noor a KWD 16 million loan
30 September 01:26 PM Noor repays last debt installment to National Industries
Mubasher: Noor Financial Investment has paid off the last installment worth KWD 1.5 million ($5 million) in a loan granted by its parent company National Industries Group Holding. In 2018, National Industries Group gave Noor Financial Investment a …
Al Samahiji was the co-founder of Orpheus Partner
29 September 09:38 AM GFH appoints new CEO for UK operations
Dubai – Mubasher: GFH Financial Group has appointed Tariq Al Samahiji as the CEO of the company's operations in the UK effective immediately. With experience in the global banking sector across asset management, capital markets, Islamic finance, …
The segment brings the total length of the 2Africa cable system to over 45,000 km
28 September 03:47 PM 2Africa consortium extends subsea cable system to Arabian Gulf, India, Pakistan
Mubasher: The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, Saudi Telecom Company (stc), Telecom Egypt, Vodafone, and WIOCC, announced that a new segment has been added to the 2Africa subsea …
The board has also agreed on setting off the entire accumulated losses
26 September 11:23 AM Al Mazaya's First Dubai Real Estate sells stake in Saudi subsidiary
Mubasher: The board of First Dubai Real Estate Development Company, a subsidiary of Al Mazaya Holding, has approved to sell all shares of a subsidiary company in Saudi Arabia in exchange for KWD 15.5 million. The board has also agreed on setting …
The transaction involved the purchase of 537,472 shares
22 September 01:11 PM Egypt Kuwait Holding ups stake in Delta Insurance
Cairo – Mubasher: Egypt Kuwait Holding has raised its stake in Delta Insurance to 63.22% from 61.5%.  The transaction involved the purchase of 537,472 shares for EGP 24.28 million, averaging EGP 45.18 apiece, according to a statement to the …
IFA's investment will be a 10.5% share of equity
22 September 01:02 PM Kuwait's IFA to invest AED 38m in Yotel's branch in Dubai Palm Jumeirah
Mubasher: The board of International Financial Advisors (IFA) has approved to invest AED 37.695 million (KWD 3.089 million) in a branch of the UK-based Yotel hotel brand in Dubai’s Palm Jumeirah. Approved by the Risk Management Committee, …
BHM Capital will enhance the liquidity of securities issued by NIH
20 September 10:04 AM National International Holding appoints BHM Capital as liquidity provider
Dubai – Mubasher: Kuwait-based National International Holding Company (NIH) has appointed BHM Capital as a liquidity provider for its shares traded on the Dubai Financial Market (DFM). As a liquidity provider, BHM Capital will enhance the …
The number of shares traded in EGP represents 68.4% of total shares
16 September 11:56 AM Egypt Kuwait Holding starts trading on EGP-denominated shares on Sunday
Cairo – Mubasher: Egypt Kuwait Holding (EKH) announced that trading on the company’s shares in the Egyptian pound for shareholders who converted the trading currency will come into effect on Sunday, 19 September. The number of shares traded in EGP …
14 September 10:03 AM AXA Med completes sale of stake in AXA GCIC to Gulf Insurance
Mubasher: AXA Mediterranean Holding (AXA Med) has completed the sale of its 28.05% stake in AXA Green Crescent Insurance Company (AXA GCIC) to Gulf Insurance Group (GIG). In early September, GIG has completed the acquisition of AXA’s operations in …
Photo Archive
13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
The facility will enable Aramex to expand its e-commerce fulfillment business
12 September 03:02 PM Aramex selects Agility Logistics Park for largest logistics warehouse in Kuwait
Dubai – Mubasher: Aramex has selected the Agility Logistics Park (ALP) in Sulaibiya as the location for its new 16,000 square metre e-fulfilment centre, the largest logistics warehouse in Kuwait. Aramex’s new warehouse facility is located in …
The acquired multifamily residential sites are located close to Las Vegas suburban areas
8 September 12:49 PM GFH acquires $200m multifamily residential sites in US
Mubasher: GFH Financial Group has inked a real estate deal with the US-based real estate specialist Carroll to acquire two multifamily residential sites in Las Vegas in exchange for $200 million. The company's investment in residential assets is …
The transaction included AXA Gulf and AXA Cooperative Insurance
7 September 11:52 AM Gulf Insurance completes acquisition of AXA in Gulf
Mubasher: Gulf Insurance Group (GIG) has completed the acquisition of AXA’s operations in the Gulf region in exchange for $474.75 million after obtaining the necessary regulatory approvals. The transaction included AXA Gulf and AXA Cooperative …
This step was made after Coast Investment had cancelled its treasury shares
5 September 03:37 PM National International Holding raises ownership in Coast Investment
Mubasher: National International Holding Company has raised its ownership in the associate company, Coast Investment and Development Company, to 31.65% from 29.59%. This step was made after Coast Investment had canceled its treasury shares, …
The pre-funding has been completed by several investors
30 August 01:06 PM Swvl completes PIPE's $35.5m pre-funding to support growth strategy
UAE - Mubasher: Dubai-based Swvl Inc. has announced the completion of the $35.5 million pre-funding of the aggregate private investment in public equity (PIPE) subscription secured in connection with the company's proposed business combination …
The company raised its direct and indirect stake in Alexandria Fertilizers Co
24 August 04:06 PM Egypt Kuwait Holding reveals updates on $300m investment plan
Cairo – Mubasher: Egypt Kuwait Holding (EKH) revealed the latest updates of its previously-announced $300 million investment plan for 2021 and 2022. The firm, listed on the Egyptian Exchange (EGX) and Boursa Kuwait, plans to invest $80 million in …
The new company will have an issued capital of EGP 50 million
24 August 01:04 PM EKH gets FRA's approval to launch micro-finance firm
Cairo – Mubasher: Egypt Kuwait Holding (EKH) has recently received the Financial Regulatory Authority's (FRA) approval to establish a micro-finance company called Bedayti. The decision for setting up the company with an issued capital of EGP 50 …
The company requested the license as part of its objective to launch digital initiatives
24 August 12:58 PM Agility requests license to establish digital bank in Kuwait
Mubasher: Agility Public Warehousing has requested a license to establish the first digital bank in Kuwait, the company announced to clarify some news published in this regard. The company requested the license as part of its objective to launch …
The transaction would enhance the bank's financial position
22 August 11:12 AM KIB completes sale of exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has completed the sale of its exposure to NMC Healthcare Company following the fulfillment of the relevant procedures. The KWD 3.98 million transaction would enhance the bank's financial position; however, …
Negotiations were extended until 23 September 2021
17 August 11:54 AM Ooredoo, CK Hutchison extend negotiation period to combine Indonesian businesses
Abu Dhabi - Mubasher: National Mobile Telecommunications Company (Ooredoo) and CK Hutchison Holdings Limited (CK Hutchison) have extended the period of exclusivity for the non-legally binding Memorandum of Understanding (MoU) for a possible …
The company plans to submit the firm intention in Q3-21
17 August 10:04 AM GFH submits letter of intent to KHCB for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group has submitted a letter of intent to Khaleeji Commercial Bank's (KHCB) board for a voluntary takeover of the bank's issued shares. The company plans to submit the firm intention and offer documents during the …
Agility will acquire 19.3 million shares in DSV Panalpina
16 August 04:44 PM Agility concludes sale of GIL business to Danish firm for nearly $5bn
Mubasher: Agility Public Warehousing is expected to finalise the sale of its Global Integrated Logistics (GIL) business to Denmark’s DSV Panalpina on 16 August. The enterprise value of the transaction stands at $4.775 billion and the equity value …
Revenues increased annually by 13%
15 August 05:57 PM Agility records 216% jump in H1-21 profits
Mubasher: Agility Public Warehousing achieved net profits worth KWD 51.2 million ($170.1 million) in the first half (H1) of 2021, leaping by 215.9% when compared to H1-20. The Kuwaiti company, which is listed on the Dubai Financial Market (DFM), …