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Moody's affirmed KFH's, AUB's BCA
24 January 03:27 PM Moody's affirms ratings of KFH, AUB Kuwait
Mubasher: Moody's Investors Service has affirmed credit ratings of two Kuwaiti banks, according to a statement released on Friday. The global rating agency affirmed the A1 / Prime-1 long and short-term domestic and foreign currency deposit ratings …
The facilities will be due on 2 June 2022
23 January 03:59 PM United Real Estate pens KWD 10m loan deal with AUB Kuwait
Mubasher: United Real Estate has renewed a credit facilities agreement with Ahli United Bank – Kuwait (AUB Kuwait) at a value of KWD 9.966 million.   The loan will be due on 2 June 2022 and will be used in financing the Kuwaiti firm’s investments …
The debt covered an investment in Kuwait
23 January 01:00 PM Ream Real Estate to reschedule KWD 6m debt with Warba Bank
Mubasher: Ream Real Estate Company announced that it will reschedule its existing debt with Warba Bank at a value of KWD 5.95 million. The debt covers one of the company’s investments in Kuwait, according to a bourse statement on Thursday.    The …
The company suffered a loss of KWD 5.1 million in Q4-19
23 January 09:35 AM Al Imtiaz Investment records KWD 19.7m profit in 2019; dividends proposed
Mubasher: The profits of Al Imtiaz Investment Group slid by 1.5% year-on-year (YoY) during the fiscal year ended on 31 December 2019 to reach KWD 19.72 million ($65.07 million) when compared to KWD 20.02 million ($66.08 million). The lower annual …
The Murabaha facility agreement was signed in June 2019
22 January 04:38 PM Alafco recieves last tranche of $600m Murabaha facility
Mubasher: Alafco Aviation Lease and Finance Company on Wednesday announced the successful closure of a $600 million five-year unsecured Murabaha facility as it received the last tranche of $80 million. The payment marked the last phase of the …
The contract carries a primary maturity period of two years
22 January 02:58 PM Integrated Logistics signs KWD 3.5m deal for BAPCO refinery
Mubasher: Integrated Holding Company on Wednesday announced that its 100%-owned subsidiary, Integrated Logistics, signed a deal with the main contractor of the Bahrain Petroleum Company’s (BAPCO) refinery development project to provide and operate …
The decision will be effective on 31 January
22 January 01:22 PM Dalqan Real Estate’s general manger resigns
Mubasher: Dalqan Real Estate announced that its board of directors has approved the resignation of the company’s general manager, Saud Abdullah Saud Al Mutairi, which he submitted on 16 January 2020. The decision shall be effective starting from …
Photo Archive
22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
Order books were oversubscribed 2.5 times, exceeding $750 million
22 January 09:39 AM GFH raises $300m in Sukuk issuance; oversubscribed 2.5 times
Dubai – Mubasher: GFH Financial Group on Wednesday announced the successful closure of five-year Sukuk valued at $300 million.   The issuance was oversubscribed 2.5 times with more than $750 million, according to a bourse statement. GFH believes …
The new capital will total KWD 1.712 million
21 January 04:51 PM Yiaco Medical’s shareholders approve loss amortisation, capital cut
Mubasher: The shareholders of Yiaco Medical Company approved amortising the company’s accumulated losses amounting to KWD 24.007 million during its extraordinary general meeting (EGM) on Tuesday. The decision, reached by a majority vote, also …
The National Bank of Kuwait (NBK)
21 January 04:33 PM stc agrees KWD 40m agreement with NBK
Riyadh – Mubasher: Kuwait Telecommunications Company (stc), a subsidiary of Saudi Telecom Company (stc), has signed a long-term finance agreement with the National Bank of Kuwait (NBK). The KWD 40 million finance deal extends to ten years, with …
The transaction’s impact will reflect on the annual financials
21 January 11:12 AM Sanam Real Estate inks deals to buy KWD 2.7m medical property
Mubasher: Sanam Real Estate has signed the final contracts to purchase a medical property in Kuwait at a value of KWD 2.7 million, with a 9.04% return on investment (RoI). The contracts were registered in the Real Estate Registration Department of …
Mabanee submitted the best offers to "J3" investment opportunity
20 January 05:03 PM Three Kuwaiti listed firms win investment opportunity in Jaber Al Ahmad city
Mubasher: Mabanee Co, among a consortium of Kuwaiti companies, received a letter of notification on Monday from the Public Authority for Housing Welfare awarding the investment opportunity “J3” in Jaber Al Ahmad Residential City. As …
The capital increase will be made through the issuance of 4.2 billion shares
20 January 04:41 PM Kuwait Finance House’s shareholders approve capital raise to KWD 1.12bn
Mubasher: The extraordinary general meeting of Kuwait Finance House (KFH) approved to increase the authorised capital to KWD 1.118 billion. The capital increase will be made through the issuance of 4.2 billion shares at the share’s nominal value, …
NBK’s profits recorded KED 99.12 million in Q4-19
20 January 04:25 PM NBK’s profits hit KWD 401m in 2019; dividends proposed
Mubasher: The annual financial statements of the National Bank of Kuwait (NBK) revealed an increase in profits by 8.3% year-on-year (YoY) over the last fiscal year ended 31 December 2019. The profits reached KWD 401.29 million ($1.33 billion) in …
Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk
20 January 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved
Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …
The transaction’s impact will reflect on the annual financials
20 January 01:49 PM Arkan Al Kuwait purchases property at KWD 6.2m
Mubasher: Arkan Al Kuwait Real Estate has signed the final contracts to buy a commercial property worth KWD 6.16 million, with an 8.4% return.   The property was registered at the Land Registry of the Ministry of Justice, according to a bourse …
The bank reported KWD 17.42 million profits in Q4-19
20 January 12:58 PM Boubyan Bank logs 12% higher profits in 2019; dividends approved
Mubasher: The net profits of Boubyan Bank grew by 12% year-on-year (YoY) at KWD 62.65 million ($206.98 million) during the fiscal year ended 31 December 2019 when compared to KWD 56.11 million ($185.37 million).   Earnings per share (EPS) …
The deal will result in a slight drop in the company’s financing costs
19 January 05:32 PM National Investments pens KWD 6.5m loan deal
Mubasher: National Investments Company (NIC) signed a loan agreement worth KWD 6.5 million ($21.5 million) with a local bank. The five-year loan will be used to refinance current loans, the company said in a statement to Boursa Kuwait on Sunday. …
The contract will generate operating profits
19 January 12:29 PM Combined Group’s unit inks KWD 19.9m deal in UAE
Mubasher: Combined Group Contracting (CGC) announced that its subsidiary in the UAE has signed a tender contract worth AED 240.46 million, equivalent to KWD 19.89 million, ($65.71 million), to develop internal roads and infrastructure in Ras …
BisB will continue to be listed on Bahrain Bourse
18 January 09:48 PM NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
KIPCO's headquarters
17 January 06:00 PM Moody's affirms KIPCO's ratings at Baa3; Outlook revised to negative
Mubasher: Moody's Investors Service has affirmed Kuwait Projects Holding’s (KIPCO) Baa3 long-term issuer rating and P-3 short-term issuer rating, according to a statement. The international rating agency affirmed the provisional (P)Baa3/(P)P-3 …
Headquarters of Kuwait Fire Service Directorate
16 January 11:56 AM KGL’s unit offers lowest bids in KWD 7.9m tender
Mubasher: Kuwait and Gulf Link Transport (KGL) announced that one of its subsidiaries has offered the lowest bids for a tender valued at KWD 7.894 million ($26.08 million) by Kuwait Fire Service Directorate. The expected return of the tender, …
The reclassification will have no relation to GFH’s performance
16 January 10:27 AM GFH’s shares on Boursa Kuwait reclassified to main market
Dubai – Mubasher: GFH Financial Group announced that Boursa Kuwait has reclassified the segment of GFH’s shares on it from the premier market to the main market. The reclassification coincides with the bourse’s recent market segmentation plans …
The Sukuk issuance will have a tenor of five years
16 January 09:29 AM GFH confirms Reuters news on $500m Sukuk issue
Dubai – Mubasher: GFH Financial Group on Thursday confirmed to its shareholders the news published by Reuters on 13 January 2020. GFH clarified that it plans to issue five-year-tenor Sukuk. The issuance builds on the shareholders’ resolution, …