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The period of the deal is 30 months
2 April 02:39 PM Al Imtiaz Investment’s unit pens KWD 17.6m deal
Mubasher: A subsidiary of Al Imtiaz Investment Group has signed a 30-month deal valued at KWD 17.62 million with Kuwait's Ministry of Electricity and Water for the construction, completion, and maintenance of four main fresh water lines in South …
The global rating agency has assessed the group's performance in 4 sectors
2 April 10:14 AM S&P assigns GFH with 'B-' credit rating, stable outlook
Mubasher: Standard and Poor's (S&P) has assigned GFH Financial Group a long-term credit rating of 'B-', with a stable outlook, the group disclosed to the Dubai Financial Market (DFM) on Thursday. The global rating agency has assessed the group's …
The transaction generated total earnings worth nearly $2 million
2 April 09:45 AM Securities House exits $7.6m property investment in US
Mubasher: The Securities House has sold one of its property investments operating in the light industry sector for $7.6 million (KWD 2.38 million). The investment was developed by Securities House in the US, according to a stock exchange statement …
The company turned to a loss of KWD 562,970 in Q4-19
1 April 03:01 PM Kuwait Cement’s profits decline 49% in FY19; dividends proposed
Mubasher: The net profit of Kuwait Cement decreased by 49% on an annual basis over the fiscal year (FY) 2019 to stand at KWD 4 million when compared to KWD 7.94 million. The drop in the annual earnings is attributed to a drop in gross profit by …
The total number of shares stands at 892.119 million shares
1 April 10:11 AM DFM executes Khaleeji Commercial Bank's capital reduction
Dubai - Mubasher: The Dubai Financial Market (DFM) has announced that the reduction of Khaleeji Commercial Bank's capital was executed, according to a press release on Wednesday. Following the reduction, the total number of shares stands at …
The company incurred KWD 426,348 worth of losses in Q4-19
1 April 10:08 AM Securities House turns to loss in 2019
Mubasher: The Securities House turned to a loss of KWD 379,624 (about $1.21 million) in the fiscal year (FY) 2019, against a profit of KWD 204,812 (nearly $652,620) in 2018. The 2019 results are ascribed to various factors, including an increase …
Asiya Capital turned to a profit of KWD 1.4 million in Q4-19
1 April 09:40 AM Asiya Capital’s profits up 38% in 2019
Mubasher: Asiya Capital Investments Company reported a 38% annual increase in net profits during the fiscal year (FY) ended on 31 December 2019 at KWD 1.5 million (about $4.81 million) from KWD 1.09 million (around $3.51 million). The growth in …
The OGM approved distributing a remuneration of KWD 135,000 to board members
1 April 09:25 AM GBKs's OGM nods to 11 fils/shr dividends for FY19
Mubasher: Gulf Bank’s ordinary general meeting (OGM) consented to the proposed cash dividend distribution of 11 fils per share or 11% of the share’s nominal value for the fiscal year (FY) 2019 after deducting treasury stocks. Shareholders …
The partial exit is from investments in companies out of Kuwait
31 March 03:17 PM Kamco exits $17m investments
Mubasher: Kamco Invest on Tuesday announced selling around 16.8% of its stake in a number of special-purpose companies (SPCs) for $16.9 million (KWD 5.2 million). The partial exit is from investments in companies out of Kuwait, according to a …
The lower profit is due to a decrease in the fair value (FV) of investment properties
31 March 03:02 PM National International’s earnings slide 24% in 2019; bonus share proposed
Mubasher: The consolidated financial statements of the National International Holding Company showed a 24.13% drop in net profits during the fiscal year (FY) 2019 at KWD 1.7 million from KWD 2.3 million in 2018. In the fourth quarter (Q4) of 2019, …
Aramco has set the selling price of propane for April futures at $230 per tonne
31 March 02:55 PM Saudi Aramco lowers propane price to $230/ton in April
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the selling price of propane for April futures at $230 per tonne, down from $430 per tonne in March. Aramco further announced, as cited by Reuters, that the selling price of …
The company's total operating revenues reached KWD 45.859m in 2019
31 March 12:48 PM Aan Digital generates KWD 265,211 net profits in 2019
Mubasher: Aan Digital Services Co, dually listed on the Dubai Financial Market (DFM) and Boursa Kuwait, reported  KWD 265,211 ($845,740) net profits attributable to the owners of the parent company in 2019, versus net losses of KWD 829,075 ($2.64 …
The rating reflects the lender's strong capacity to meet its financial commitments
31 March 11:18 AM S&P lowers NBK’s credit rating to ‘A’; outlook stable
Mubasher: Standard & Poor's Ratings (S&P) has downgraded the long-term issuer default rating (IDR) of the National Bank of Kuwait (NBK) to ‘A’ from ‘+A’, with a ‘Stable’ outlook. The rating reflects the lender's strong capacity to meet its …
The service contract shall be effective for two years
31 March 10:25 AM Automated Systems to offer infrastructure services to Kuwait Airways
Mubasher: Kuwait Airways has accepted Automated Systems’ offer to provide infrastructure services for KWD 3.7 million. The service contract shall be effective for two years commencing as of Wednesday, 1 April 2020, until 31 March 2022, Automated …
The losses amounted to KWD 1.69 million by 2019 year-end
31 March 09:49 AM Al Massaleh records 27% lower loss in FY19
Mubasher: Al Massaleh Real Estate reported lower losses by 27% on an annual basis over the fiscal year (FY) ended on 31 December 2019. The losses amounted to KWD 1.69 million (about $5.39 million) by 2019 year-end, compared to KWD 2.31 million …
The losses amounted to KWD 1.96 million in Q4-19
31 March 09:30 AM Taameer Real Estate’s loss down 20% in 2019
Mubasher: The losses of Taameer Real Estate Investment decreased by 19.9% annually during the fiscal year (FY) 2019 to reach KWD 1.08 million (around $3.48 million) when compared to KWD 1.35 million (about $4.34 million). In the fourth quarter …
The company's losses reached KWD 1.2 million in Q4-19
30 March 03:20 PM Energy House turns to loss in 2019
Mubasher: The Energy House Holding registered KWD 5.47 million worth of losses in the fiscal year (FY) ended in December 2019, against profits of KWD 80,174 in 2018. In the fourth quarter (Q4) of 2019, the losses jumped by 8,554% to reach KWD 1.2 …
Boubyan Bank has a strong capacity to meet its financial commitments
30 March 02:43 PM S&P downgrades Boubyan Bank’s credit rating to ‘-A’
Mubasher: Standard & Poor's Ratings (S&P) has downgraded the long-term credit rating of Boubyan Bank to ‘-A’ from ‘A’ and maintained a 'Stable' outlook. The agency affirmed the bank’s stand-alone credit profile (SACP) at ‘bbb’, according to a …
The transactions will reflect on URC's long-term liabilities
30 March 10:31 AM United Real Estate pens KWD 7m loan deal
Mubasher: United Real Estate Company (URC) has signed a credit facility agreement with a local bank for KWD 7 million ($22.4 million). The loan will finance the company’s commitments and will be due on 15 March 2023, according to a statement to …
Earnings registered KWD 3.1 million in Q4-19
30 March 10:16 AM HEISCO records 16% higher profit in FY19; dividends proposed
Mubasher: The net profit of Heavy Engineering Industries and Shipbuilding Company (HEISCO) increased by 16.4% during the fiscal year (FY) ended in December 2019 to reach KWD 11.2 million from KWD 9.6 million in 2018. The growth in last year’s …
Each of the two contracts is for one year
30 March 10:00 AM HEISCO extends $21m deals in Kuwait
Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has renewed contracts worth nearly $21 million with Kuwait Oil Company (KOC) and the US army.  Valued at KWD 3.27 million ($10.5 million), the first contract with the Kuwaiti …
The agreement was penned with Rawabi Marketing International Company Limited
30 March 09:50 AM Al Kout inks $8m contract to supply Saudi Arabia with hydrochloric acid
Mubasher: Al Kout Industrial Projects has signed a one-year contract to supply Saudi Arabia with 70,000 tonnes of hydrochloric acid at a total value of $7.7 million. The agreement was penned with Rawabi Marketing International Company …
Yiaco Medical suffered KWD 1,665 worth of losses in the fourth quarter of 2019
30 March 09:27 AM Yiaco Medical turns profitable in 2019
Mubasher: Yiaco Medical Company turned to a net profit of KWD 229,605 ($734,670) over the fiscal year (FY) ended on 31 December 2019, against a loss of KWD 7.85 million ($25.12 million) in 2018. The realised annual profits are attributed to lower …
The company registered KWD 149,145 worth of earnings in Q4-19
29 March 04:48 PM Kuwait Foundry turns profitable in FY 2019; dividends proposed
Mubasher: Kuwait Foundry Company has turned to a profit of KWD 894,912 ($2.86 million) in the fiscal year (FY) 2019, against a loss of KWD 1.15 million ($3.68 million) in 2018. In the fourth quarter (Q4), the company registered KWD 149,145 worth …
The company's losses stood at KWD 452,523 last year
29 March 04:21 PM Ekttitab Holding posts 12% lower loss in 2019
Mubasher: The net loss of Ekttitab Holding narrowed by 12% on an annual basis during the fiscal year (FY) ended on 31 December 2019. Losses for the period stood at KWD 452,523 last year when compared to KWD 511,506 in 2018, according to a stock …