Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

Amiantit appoints new CEO

FOR REPRESENTATION PURPOSE ONLY
By TRENDS Desk
February 28, 2022 11:41 pm
  • The company took the decision after resignation of its previous CEO.
  • The new CEO is already working with Amiantit Co. as the Group CFO.

Saudi Arabian Amiantit Co. has appointed Feras Bin Ghassab Al-Harbi as its new chief executive officer, according to a bourse statement.

The decision was made after the resignation of Khalil bin Abdulfattah Kordi from the position of CEO on Feb.28, media reports said.

Feras has occupied several leadership positions in a number of joint-stock companies.

He has been working within Saudi Arabian Amiantit Co. as Group Chief Financial Officer and Group Chief Operating Officer.

Meanwhile, the Saudi Arabian Amiantit Co.’s board has decided to reduce the capital of the company by 69.06 percent to SR99 million ($26 million).

The capital before the reduction was SR320 million ($85.30m), while the capital after reduction stands at SR99 million.

The company had 32 million shares before dilution, and after reduction, it has over nine million shares.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]