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Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
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Doha Insurance net profit up
The profit jumped to US$41.40m in 2023. -
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year. -
Barwa Real Estate net profit up
It posted an 8% jump in net profit to US$337m for last year. -
DFM net profit climbs 124 percent
Its board has proposed a cash dividend of US$76.24m. -
Alba sets new production record
It produced 1,620,665 metric tonnes of aluminium in 2023. -
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026. -
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the Board of Dubai Corporation for Ambulance Services chaired by the Director-General of Dubai Health Authority. The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the... -
Al Saqr names chairman of board
The insurance firm made a slew of new appointments. -
ACWA Power okays dividend
The shareholders approved to distribute an 8.3% dividend. -
Al Sada to be chairman of Rosneft
The shareholders elected a new board of directors as well. -
CBUAE ‘removes’ board of directors of insurance company
Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating in the UAE and replaced it with a temporary committee of experts for six months. The central bank, however, didn't disclose the name of the insurance company, and what led... -
SCCA’s revised arbitration rules come into effect in Saudi Arabia
Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect from May 1. The final text was endorsed after extensive review by the SCCA’s board of directors. The SCCA, in a statement, said the new rules will apply to all... -
Dubai Investments okays 12.5% dividends
The group reported AED1.60bn as profit attributable to the shareholders. -
Agthia to pay $17.7m in dividends
The company paid a total of $35.56m in dividends for 2022. -
Emaar Properties to pay dividend
It will dole out cash dividends to the tune of US$601m. -
Fewer GCC women achieve leadership roles
Young women in the MENA region are more likely to be in the workforce, while the GCC countries — particularly the UAE, Saudi Arabia, and Qatar — have seen advances in labor force participation, according to a PwC report published in December last year. However, they are yet to gain... -
Renault, Nissan approve alliance
The carmakers said that they "rebalanced" their relationship. -
Fujairah Chamber board approves 2023 operational plan and budget
Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products, given the major role they play in driving sustainable and economic development. The board made this statement during its... -
Response Plus declares dividend
It will pay an interim dividend of $12.79m to shareholders. -
Jordan to elect commerce chamber boards in poll
Amman, Jordan— The commercial sector across Jordan will go to the polls on Saturday to choose representatives in the boards of directors of chambers of commerce and representatives of commercial sectors for 2022. The number of voters entitled to participate in the voting process is 27,982 merchants, while the election... -
TAQA posts 53% income rise
The income vaulted to $1.77bn in the first nine months of 2022. -
UAE’s gender diversity policy sees more women in board positions
In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities Authority (SCA) set a quota for all listed companies to put at least one woman on their boards by 2025. As of June 2022, women hold 8.9 percent of the... -
Elon Musk asks: ‘Is Twitter dying?’
He also called out users who are highly followed but rarely post. -
Twitter employees to meet Musk
They are concerned about his influence on the company board. -
Saudi Re endorses capital hike
The hike to SR1.336bn will be used to fund expansion plans. -
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025, which is expected to support more than 13,500 companies. At its first Board meeting of 2022, the bank said the record growth over the past 12 months demonstrated the success... -
ADNIC to pay $62m in dividends
The year 2022 marks the 50th anniversary of the company. -
Lebanon bans top officials of five banks from travel
A prosecutor in Lebanon has issued travel bans against the heads of the boards of five Lebanese banks as a precautionary measure as she investigates transactions by their banks, according to the media reports. -
Most UAE consumers believe natural is healthier, says a survey
UAE consumers show a growing interest in natural foods, backed by the understanding that natural produce is the healthier choice, a survey has said. Nearly 60 percent of the participants agreed that the naturalness of the product influences their grocery choices, the highest of all markets, according to the survey... -
CBUAE mulls Emiratisation of leading banking, insurance professions
The proposal was mooted at the apex bank's fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of the Board of Directors of the Central Bank of United Arab Emirates. -
Gulf boardrooms still a man’s world
Female representation on boards and at higher levels across the Gulf is trailing behind much of the rest of the world -
Abdullah Al Othaim Markets CEO quits
Mohsen Saqer Hussain will serve as an advisor to the Board. -
DFM picks new CEO
The Dubai Financial Market (DFM) has hand-picked Hamed Ahmed Ali as the new Chief Executive Officer (CEO) in the wake of a reshuffle of the board that started last week. -
Dubai arbitration center board gets ruler nod
Sheikh Mohammed bin Rashid Al Maktoum has directed the Board of Directors of DIAC to establish Dubai as a leading global center for alternative dispute resolution within the next three years, and ensure it maintains the highest standards of efficiency and transparency. -
BNET handpicks new CEO
Bahrain Network (BNET) has announced the appointment of Mr. Ahmed Jaber Aldoseri as its Chief Executive Officer, a former member of the company's Board of Directors. -
Sharjah Islamic Bank board okays 40 percent foreign ownership ceiling
Sharjah Islamic Bank has announced that its board of directors agreed to raise the percentage of foreign ownership in the bank’s shares to 40 percent. The board's nod will now be submitted to the bank’s general assembly for a discussion and final decision. The bank said the decision comes in... -
Construction works complete on a stretch of UAE rail network
DUBAI:Â Etihad Rail has completed construction works on a stretch of the 1200-km UAE National Railway Network, the company said on Wednesday. The work was completed ahead of schedule on Package A of Stage Two, which extends over 139 km, and its connection through Al Ghuwaifat on the border of Saudi... -
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according to a bourse filing. -
AmCham Bahrain elects new board
Qays Zu’bi has been re-elected the president for two-year term. -
Mohammed bin Rashid confirms board and advisory council of Dubai International Chamber
It is part of a recent government restructuring to drive a comprehensive economic development in Dubai It also aims to establish Dubai as a global trade hub and a favorite regional destination for global firms The ruler of Dubai, and Vice President and Prime Minister of... -
Dubai Chamber board adopts 90-day plan for business growth
The event eyes 100,000 business leaders Key challenges facing companies discussed The newly formed board of Dubai Chamber of Commerce at its first meeting adopted a 90-day plan to drive business growth in Dubai, which includes maximizing exposure of the forthcoming Expo 2020 Dubai. One of the plan's objectives is... -
Kuwait sovereign fund loses gleam as politicians squabble over make-up of board
The term of the board overseeing the fund expired two months ago This dispute is also delaying investment and economic reforms Kuwait’s has a mega sovereign fund worth some $600 billion, but lately it has been losing its shine as it has become a victim of vicious political confrontation between... -
Fahad Al Hassawi is CEO EITC
Al Hassawi has been the company’s acting CEO since September 2020. During this period, he has guided the organization into two consecutive quarters of growth The board of Emirates Integrated Telecommunication Company (EITC) has officially confirmed Fahad Al Hassawi as its chief executive officer. He has been the...