Sector News

Mubasher: International Arbitration Organization ordered Saudi Plastic Factory (SPF) to pay about $527 million to Kuwait-based Mobile Telecommunications (Zain). The amount will be divided into $496 million representing the original claim against …

Mubasher: Fitch Ratings has downgraded the rating of Ooredoo to “A-” from “A”. The ratings agency has also changed the Qatari telecom company outlook from negative to stable. Ooredoo reported a 13% increase in its net profit during the fourth …

Mubasher: Kuwait Telecommunication Co (Viva) will hold its ordinary general meeting on Wednesday, 28 March, to consider the board’s recommendation to distribute 30% of capital as a cash dividend for fiscal year 2017. Viva will pay the dividends on …

Mubasher: The Kuwaiti court has ordered a ruling against Mobile Telecommunications (Zain) to pay KWD 11.57 million to the undersecretary of the finance ministry of Kuwait. The court ruling was issued on 15 March in a lawsuit filed by the …

Mubasher: Mobile Telecommunications (Zain) will hold its ordinary general meeting (OGM) on Wednesday, 28 March, to discuss the board’s recommendation of distributing 35% of the capital as cash dividends for fiscal year 2017. Zain Kuwait intends to …

Mubasher: Mobile Telecommunications (Zain) announced that Mohannad Mohammad Abdullmohsen Al Kharafi has submitted his resignation from the board membership and also from his position as a chairman of the group. Zain noted that this resignation was …

Mubasher: The ordinary general meeting (OGM) of National Mobile Telecommunications (Ooredoo Kuwait) has approved the board’s recommendation to distribute 70% of capital as cash dividends for fiscal year 2017, as reported by the Kuwait News Agency …

By: Mohamad Farouk Mubasher: The income statements of 60 companies listed on Boursa Kuwait reported a decrease of 4.9% in profits during the fourth quarter of 2017 compared to the same quarter in 2016. Earnings of the total 60 firms declined to …

Mubasher: National Mobile Telecommunications (Ooredoo) will hold its ordinary general meeting (OGM) on 7 March to discuss the board members’ recommendation to distribute 70% cash dividends for fiscal year 2017. Ooredoo will consider paying 70 fils …

Mubasher: Aan Digital Services Co registered a decrease of 49.7% in losses to KWD 3.83 million ($12.79 million) in the fourth quarter of 2017 compared to KWD 7.62 million ($25.44 million) in the same period of 2016. During fiscal year 2017, losses …

Mubasher: Kuwait Telecommunication Co (Viva) announced the signing of a credit facilities contract valued at KWD 40 million ($136 million) with Boubyan Bank. The five-year credit facility deal will cover Viva’s financial profile in the current …

Mubasher: Mobile Telecommunications (Zain) will hold its ordinary general meeting (OGM) on 12 February after Securities Group requested to hold this meeting on its behalf and a number of its clients in addition to some of shareholders in Zain with …

Mubasher: Mobile Telecommunications (Zain) achieved an increase of 9.4% in profits during the fourth quarter of 2017 compared to the same period a year ago. Earnings enlarged to KWD 38 million ($126.8 million) in Q4-17 from KWD 34.7 million …

Mubasher: The board members of Mobile Telecommunications (Zain) will discuss the income statements for fiscal year 2017 on Wednesday, according to a bourse filing on Tuesday. In the first nine months of FY17, Zain reported a decline of 1.6% in …

Mubasher: Kuwait Telecommunication Co (Viva) reported a growth of 9.8% in profits during the fourth quarter of 2017 compared to the same period last year. Earnings increased to KWD 11.8 million ($39.4 million) in Q4-17 from KWD 10.8 million ($36.1 …

Mubasher: Hermes Financial Group has recommended investors to perform purchasing transactions on three leading stocks listed on Boursa Kuwait. The stocks are the National Bank of Kuwait (NBK), Zain, and Human Soft, according to a recent report. …

Mubasher: Ooredoo, the dual-listed company on both the Qatar Stock Exchange (QSE) and the Abu Dhabi Securities Exchange (ADX), on Monday announced that its wholly-owned subsidiary Ooredoo International Finance Limited will pay its Global Term …

Mubasher: Boursa Kuwait announced that the procedures set for selling about 281.62 million of Mobile Telecommunications’ (Zain) shares have been completed. The stake was sold for 440 fils per share at a total value of KWD 96.19 million, according …

Mubasher: Boursa Kuwait announced that an auction will be held on Monday to offer 218.62 million of Mobile Telecommunications’ (Zain) shares for sale. This stake represents 5.052% of Zain’s capital, with a premium price of 440 fils per share and a …

Mubasher: Oman Telecommunications (Omantel) has nominated four new members for the board of directors of Mobile Telecommunications (Zain). The CEO of Omantel, Talal Al Moaamary, was appointed as a non-executive member in Zain’s board of directors, …

Mubasher: Oman Telecommunications (Omantel) has won an auction for 12.1% stake in Zain, thus becoming the second largest shareholder in Zain Group with a 21.9% stake, after the Kuwait Investment Authority, which owns a 24.60% stake. The total …

Mubasher: Boursa Kuwait announced that no new entity has requested to enter the auction which is scheduled to be held on Sunday, 12 November, to offer a stake of 12.063% in Mobile Telecommunications (Zain) for sale. The selling procedures between …

Mubasher: Boursa Kuwait announced that an auction will be held on Sunday, 12 November, to offer 521.98 million of Mobile Telecommunications’ (Zain) shares for sale. This volume represents 12.063% of Zain’s capital at a premium price of 781 fils, …