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QPIC’s chairman, Sheikh Mubarak Abdullah Al Mubarak Al Sabah
29 January 04:12 PM Qurain Petrochemical’s profit slid to KWD 14.3m in 9M-19
Mubasher: Qurain Petrochemical Industries Company reported an 8% annual drop in profits over the nine-month period ended 31 December 2019, given that the fiscal year of the company starts on 1 April.   The profits amounted to KWD 14.29 million …
The industrial segment led seven winners with 1.5% on Wednesday
29 January 03:10 PM Boursa Kuwait up on Wednesday; turnover tops KWD 58m
By: Mohamed Farouk Mubasher: The Kuwaiti indices closed Wednesday’s trading session up, registering the highest trading volume in six months, amid the fourth largest liquidity in 2020 so far.    The All-Share Market rose by 0.46% to settle at …
Arab Health Congress may host over 400 expert speakers and 5,200 delegates
29 January 02:17 PM Investments in GCC healthcare sector seen strong on $70bn estimated market value
Mubasher: The GCC healthcare sector continues to be strong, given that it is projected to reach $70 billion and is seen to grow at a compound annual growth rate (CAGR) of 5%, according to a press release on Wednesday. The Healthcare Investment …
NBK customers can use Fitbit Pay™ to pay for goods anytime
29 January 01:25 PM NBK unveils 1st contactless payment solution in Kuwait
Mubasher: The National Bank of Kuwait (NBK) on Wednesday announced the launch of Fitbit Pay™, the first contactless payment solution in Kuwait that will allow its customers to pay for goods and services anytime, being the first local bank in …
The health condition of those infected in UAE is stable
29 January 11:42 AM UAE reports first coronavirus case in Middle East
UAE – Mubasher: The UAE’s Ministry of Health and Prevention announced on Wednesday the first case of new coronavirus in the UAE, being the first to be unveiled in the Middle East. This case was registered for members of a family arriving from the …
The decision is effective starting 29 January 2020
29 January 11:23 AM Kuwait’s CMA nods to Abyaar’s withdrawal from Boursa Kuwait
Mubasher: The board of commissioners of Kuwait’s Capital Markets Authority (CMA) has approved Abyaar Real Estate Development’s request to optionally delist from Boursa Kuwait.   The decision shall be effective starting Tuesday, 28 January 2020, …
Brent futures rose by 19 cents on Tuesday
29 January 11:01 AM Kuwait oil crude down to $60.15 pb on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil slipped by $3.42 on Tuesday, 29 January, to settle at $60.15 per barrel (pb) from $63.57 pb on Friday, according to Kuwait Petroleum Corporation’s (KPC) official prices.        Globally, oil prices …
The decision is effective as of 1 February 2020
29 January 10:04 AM United Real Estate names new CEO
Mubasher: The board of Kuwait Projects Holding (KIPCO) approved by circulation the appointment of Mazen Issam Hawwa as the CEO of its subsidiary, United Real Estate. The decision shall be effective as of 1 February 2020, according to a bourse …
The facilities will finance the subsidiary’s activities
29 January 09:48 AM United Real Estate’s unit inks KWD 43m loan deal
Mubasher: United Real Estate said that its subsidiary, United Building Co, has penned a credit facilities agreement with a local bank at a value of KWD 42.97 million in cash and noncash. The credit facilities will be used to finance the …
28 January 09:10 PM Renault appoints VW executive as new CEO
​​​​​​​Mubasher: French Automaker Renault on Tuesday named former Volkswagen executive Luca de Meo as new CEO, according to the New York Times.
28 January 05:59 PM Rising concerns over coronavirus weigh on global auto industry  
Mubasher: Rising concerns over an outbreak of coronavirus in China have dimmed the economic outlook for several sectors, mainly the automotive industry, according to GlobaData.
Financing income increased to KWD 931.6 million
28 January 05:26 PM KFH’s provisions rise to KWD 647.6m in 2019
Mubasher: Kuwait Finance House’s (KFH) sustainable profits accounted for 97% of the total profits recorded in 2019, compared to 92% in 2018, the group’s CEO Mazin Al-Nahedh said. The bank’s total provisions amounted to KWD 647.6 million at the end …
UAE, Kuwait will strengthen joint cooperation in the aviation field
28 January 05:20 PM UAE, Kuwait sign MoU to promote aviation
UAE – Mubasher: The UAE’s General Civil Aviation Authority (GCAA) has inked a memorandum of understanding (MoU) with Kuwait’s Directorate General of Civil Aviation (DGCA) to enhance aviation safety, according to a press release on Tuesday. The MoU …
Headquarters of Tabreed
28 January 05:09 PM Tabreed plans to enter new markets in Middle East – CEO
Dubai – Mubasher: The National Central Cooling Company (Tabreed) seeks to invest in new markets in the Middle East, including Egypt and Kuwait, in the coming period, Tabreed’s CEO, Bader Al Lamki, told CNBC Arabia. Al Lamki added that the company …
Depositors’ accounts rose by 15% annually in 2019
28 January 05:03 PM KFH targets KWD 100m exits in 2020 - CEO
Mubasher: Kuwait Finance House (KFH) is projected to exit non-strategic assets worth KWD 100 million during 2020, the CEO, Mazin Saad Ali Al Nahedh, disclosed on Tuesday. he highlighted that total exits in 2019 amounted to KWD 137 million …
The facilities will finance Kamco's existing and future activities
28 January 04:28 PM Kamco extends credit facility deal with local bank
Mubasher: Kamco Investment Company has renewed its agreement on credit facilities granted by a local bank and raised the credit line by KWD 5 million.    The credit facilities will be used to finance the company’s current and future activities, …
The self-driving bus was presented at the King Abdulaziz Telecom Complex
28 January 04:18 PM stc launches region's first self-driving 5G bus
Riyadh – Mubasher: Saudi Telecom Company (stc) has launched the region’s first 5G-supported self-driving bus at the King Abdulaziz Telecommunication Complex in Riyadh. The bus, launched in collaboration with Ericsson, will help smooth the movement …
28 January 03:06 PM Juniper Networks revenue rises 4% in 2019
Juniper Networks reported preliminary financial results for the three months and fiscal year ended 31 December 2019.
Bayan Investment was the top riser with 36.24% on Tuesday
28 January 02:44 PM Kuwaiti indices up on Tuesday; turnover hits KWD 43m
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in the green zone, backed by the rise of five sectors. The Main Market went up by 1.03%, followed by the All-Share and Premier indices with 0.53% and 0.36%, respectively. …
The deal carries a maturity period of 1,095 days
28 January 01:21 PM KCPC to execute KWD 15m public maintenance works via deal
Mubasher: Kuwait Company for Process Plant Construction and Contracting (KCPC) has received a letter of award from the Ministry of Public Works (MPW) for a contract worth KWD 15 million related to the maintenance of Jahra Highway, the Fifth Ring …
BLME Holdings will become a subsidiary of Boubyan Bank
28 January 12:16 PM Boubyan Bank raises stake in BLME Holdings to 67%
Mubasher: Boubyan Bank announced that it has received approvals from around 39.5% of the Bank of London and The Middle East Holdings (BLME Holdings) shares for its acquisition offer. As of 27 January, Boubyan received valid approvals from 73.26 …
Board of Directors recommended not distributing dividends
28 January 11:16 AM First Dubai’s profits down 69% in 2019
Mubasher: Net profits attributed to the shareholders of First Dubai for Real Estate Development declined by 69% year-on-year (YoY) during the fiscal year ended 31 December 2019, as shown by the company's consolidated financial statements. The …
The deal will further support other five spare engines
28 January 10:52 AM Jazeera Airways signs $1.3bn service agreement for A320neo planes
Mubasher: Jazeera Airways has entered into an agreement with a specialised global service provider at an estimated value of $1.3 billion (KWD 395 million) to support the LEAP-1A engines that power the airline’s fleet of 20 A320neo aircrafts. The …
The bonds will be matured on 28 April 2020
28 January 10:04 AM Kuwait C. bank sells KWD 200m bonds; oversubscribed 13.8 times
Mubasher: The Central Bank of Kuwait (CBK) on Tuesday issued bonds and related tawarruq worth KWD 200 million, with a 2.75% rate of return. The issue was oversubscribed by 13.79 times, while the subscription demand recorded KWD 2.76 billion, …
Burgan Bank expects the deal to improve the quality of its assets
28 January 09:51 AM Burgan Bank gets approval for selling stake in Bank of Baghdad
Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank’s 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding …