MBC Group increases Al Arabia shareholding to 20%

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Updated 18 September 2022
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MBC Group increases Al Arabia shareholding to 20%

RIYADH: MBC Holdings, a Saudi Arabian media conglomerate, has increased its shareholding in Arabian Contracting Services Co., known as Al Arabia, from 15 percent to 20 percent. 

According to a bourse statement, MBC purchased the shares from Engineer Holding Group, marking a decline of its shares in Al Arabia from 65 percent to 50 percent. 

The statement said that a share purchase agreement was signed between MBC Group and EHG on Sept. 15, and the transaction will be implemented as soon as all applicable procedures and requirements are satisfied. 

“This transaction reflects the confidence of MBC Group Holdings Ltd. in the current performance of Al Arabia, and the strong positive prediction of its future growth,” said Al Arabia in the statement. 


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.