MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
mena9 hours ago
Planet IB’s 13.5 Egyptian pounds-a-share offer lacked details on the “financing resources” as well as information about the investors, Cairo-based EFG-Hermes said on Sunday. The bid is 23 per cent more than the stock’s May 31 close. The shares rose 1.3 per cent to 11.11 pounds at 2:26pm in Cairo. EFG-Hermes would extend its reach to Turkey and as far as southeast Asia through the venture. Planet IB chief executive officer Ahmed El Houssieny may pursue a hostile takeover of EFG if management refuses to allow it to conduct due diligence. — Bloomberg
“I will not shy away from Egypt’s first hostile takeover,” El Houssieny said on Saturday in a statement to Bloomberg.
EFG-Hermes shareholders voted on Saturday in favour of an agreement that will give QInvest, a unit of Qatar Islamic Bank, 60 per cent of the venture, which will exclude EFG-Hermes’s private-equity business and its stake in Lebanese commercial bank Credit Libanais SAL. Investors will receive a one-time cash dividend of about four pounds a share, the bank said on Sunday.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
mena9 hours ago
His visit to Cairo aimed to salvage stalled negotiations mediated by Egypt, Qatar and the United States to end the conflict
world9 hours ago
The group accused Israel, which has so far refused to comment, as US denies involvement
mena9 hours ago
Hundreds of pagers belonging to the armed group exploded in Lebanon on Tuesday, killed 12 people, including two children, and wounded up to 2,800 others
world10 hours ago
They view it as a pivotal move toward fostering inclusivity and diversity in corporate structures
uae10 hours ago
Israel has not yet commented on the explosions
europe10 hours ago
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region
economy10 hours ago