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Kuwait news

15 April 03:36 PM CNG car sales in India up on rising fuel prices
15 April 01:44 PM Eastern Europe’s construction industry likely to grow 3.6% in 2021
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
15 April 01:14 PM Dell to get up to $9.7bn following VMWare stake spinoff
Mubasher: Dell Technologies Inc plans to spin off its 81% equity ownership in cloud computing and virtualization software firm VMware.
Board says greater returns can be achieved from the current growth strategy
15 April 11:11 AM UAE's Tristar Transport to withdraw from planned IPO on DFM
Mubasher: The board and shareholders of the UAE-based Tristar Transport, a 65.12%-owned subsidiary of Agility Public Warehousing, have decided to withdraw from the planned initial public offerings (IPO) on the Dubai Financial Market (DFM). This …
The cash dividends stand at 10 fils per share
15 April 10:07 AM Agility's board proposes 10% dividends for 2020
Mubasher: The board of Agility Public Warehousing has recommended distributing cash dividends, equivalent to 10% of the share's nominal value for 2020. After deducting treasury shares, the cash dividends stand at 10 fils per share, according to a …
The company’s issued and paid-up capital will be increased by $25.61 million
14 April 11:12 AM EGX approves listing Egypt Kuwait Holding’s capital raise shares
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of Egypt Kuwait Holding’s (EKH) capital raise shares. The company’s issued and paid-up capital will be increased by $25.61 million to $281.72 million from …
The company's income reached KWD 19.66 million in 2020
14 April 10:32 AM IFA turns to profitability in 2020
Mubasher: International Financial Advisors (IFA) has achieved KWD 8.229 million net profits attributable to the shareholders of the parent company in 2020, against net losses of KWD 18.4 million in 2019. The company's income reached KWD 19.66 …
Online shopping has become more of a long-term behavior change
13 April 03:18 PM Online shopping in KSA, UAE likely to grow during Ramadan – Report
Riyadh – Mubasher: A greater surge in online shopping is expected to be witnessed during the month of Ramadan, which has just started today on 13 April, a recent survey Checkout.com unveiled. Online spending by consumers in the UAE and Saudi …
Musanada has offered the lowest bids in a tender
12 April 01:34 PM CGC's unit in UAE offers lowest bid in KWD 16m tender
Mubasher: Abu Dhabi General Services (Musanada), a subsidiary of Combined Group Contracting (CGC), has offered the lowest bids in a tender for the infrastructure construction of Al Mirfa Industrial Area in Abu Dhabi, with a total value of …
Central Bank of Egypt - (Photo Archive)
11 April 01:47 PM CBE to introduce instant payment module, soft POS in 2021 - Deputy Governor
By: Marina Gamil Cairo – Mubasher: The Central Bank of Egypt (CBE) will this year launch a full-fledged instant payment module, after finalising regulations, and introduce a soft point of sale (POS) system that allows the use of mobile phones as …
The shareholders also agreed on paying bonus shares
6 April 03:58 PM GFH's OGM approves $42m cash dividend, bonus share distribution
Mubasher: The ordinary general meeting (OGM) of GFH Financial Group has approved a cash dividend and bonus share distribution of $42 million. The cash dividend payout for all ordinary shares stands at 1.86% of the share nominal value or $0.0049, …
CEO of Mubasher Media, Assem El-Bassal
4 April 04:49 PM Du aims to turn beginners into professional investors – Mubasher Media CEO
Cairo – Mubasher: The coronavirus (COVID-19) pandemic and its negative implications on the global economy have highlighted the urgent need for platforms that help investors protect their funds, take wise investment decisions, and pursue …
The IPO will include 199 million new shares issued by Tristar
4 April 03:46 PM Dubai's Tristar Transport sets IPO price range
Mubasher: The Dubai-headquartered logistics firm Tristar Transport, a 65.12% subsidiary of Agility Public Warehousing, has set a price range for its planned initial public offering (IPO) on the Dubai Financial Market (DFM) at AED 2.20 to AED 2.70 …
The maximum value of the approved investment amounts to $3m
4 April 10:23 AM IFA's unit to invest in Islamic insurance company in Pakistan
Mubasher: The board of First Takaful Insurance Company, a 53.447%-owned subsidiary of International Financial Advisors (IFA), has approved to enter into a new investment in an Islamic insurance company, under establishment in Pakistan. The maximum …
The aggregate net profit of the GCC listed banks plunged by 32.2% YoY
1 April 01:48 PM GCC banking sector's profits record seven-year low in 2020
Mubasher: The net profits of the GCC banking sector hit their lowest levels in seven years, affected by the decline of profits in the fourth quarter (Q4) by almost a third on a quarterly basis to $5.3 billion due to higher provisions, according …
Egypt Kuwait Holding achieved net profits of $116.296 million in 2020
31 March 12:55 PM Egypt Kuwait Holding to change trading currency of EGX-listed shares
Cairo – Mubasher: The extraordinary general meeting (EGM) of Egypt Kuwait Holding (EKH) approved the board’s proposal to change the trading currency of listed shares on the Egyptian Exchange (EGX) to the Egyptian pound for willing shareholders. …
The transaction is expected to close in Q2-2021
31 March 10:31 AM Ooredoo's unit inks $750m sale, leaseback deal for telecom towers in Indonesia
Mubasher: The Indonesian operating company PT Indosat Tbk, a subsidiary of National Mobile Telecommunications Company (Ooredoo), has entered into a $750 million sale and leaseback agreement with PT EPID Menara AssetCo for over 4,200 …
The agreement will not have an impact on the company's financial position
31 March 09:57 AM Al Mazaya's board approves KWD 24m facility agreement with Kuwaiti bank
Mubasher: The board of Al Mazaya Holding has approved to sign a facility agreement worth KWD 24.488 million with a Kuwaiti bank to restructure the original outstanding facility of KWD 22.7 million. The first payment is due upon signing the final …
The company's revenues declined to KWD 2.237m
30 March 10:20 AM National International Holding turns to losses in 2020
Mubasher: National International Holding Company, listed on Boursa Kuwait and Dubai Financial Market (DFM), logged net losses attributable to the shareholders of the parent company of KWD 3.71 million in 2020, against net profits of KWD 1.748 …
Assem El-Bassal, CEO of Mubasher Media - (Photo Archive)
29 March 05:49 PM Mubasher Media supports investors, plans expansion – CEO Assem El-Bassal
Riyadh – Mubasher: The CEO of Mubasher Media, Assem El-Bassal, said on Monday that the company is working on covering the main aspects across major sectors, led by the investors’ sector, by providing a perfect electronic environment for investors …
Mubasher seeks to enable beginners to become professional traders - (Photo Archive)
29 March 04:39 PM Mubasher's vision in line with Egypt's efforts to support investment plans - Rashad
Riyadh - Mubasher: The vision of Mubasher is in line with Egypt's efforts to support citizens' savings and investment plans and enable individuals and youth to further benefit from non-banking financial activities, according to …
The Arab markets haven’t witnessed sharp fluctuations during the crisis
29 March 04:25 PM Arab markets successfully managed COVID-19 crisis thanks to central banks - Abul-Gheit
Riyadh – Mubasher: The leaderships of Arab stock markets have shown great resilience in dealing with the repercussions of the coronavirus (COVID-19) pandemic, Ahmed Abul-Gheit, Secretary-General of the Arab League, said on Monday. The Arab markets …
Mohamed Farid, Chairman of the Egyptian Exchange - (Photo Archive)
29 March 02:15 PM Arab markets have 1,662 listed companies with $3.1trn in capital - EGX Chairman
Cairo – Mubasher: The Arab Federation of Exchanges (AFE) now has 21 members, representing 17 stock and commodity exchanges, four clearing companies, and several securities brokerage companies in the Arab region, the Chairman of the Egyptian …
Financial systems saw great changes during 2020 - (Photo Archive)
29 March 02:13 PM Arab markets lost $350bn at the pandemic's beginning - El-Dokany
Riyadh – Mubasher: Arab stock markets lost around $350 billion in market capitalisation in the first six weeks of the coronavirus (COVID-19) outbreak, according to the Secretary-General of the Arab Federation of Exchanges (AFE), Rami El-Dokany. …