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Aramco raised August prices to all markets
6 July 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
stc’s 5G network currently covers over 90% of the populated areas in Kuwait
5 July 03:00 PM stc takes part in 5G MENA virtual conference
Mubasher: Kuwait Telecommunications Company (stc) said, during the 5G MENA virtual conference, that the Kuwaiti telecom market is a highly challenging and evolving with growing demand, from both individuals and corporates, for 5G services and …
The Sukuk programme is valued at a maximum KWD 2 billion
2 July 01:01 PM KIB obtains central bank’s initial approval for Sukuk issuance
Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme. The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies. …
The initiative involves postponing and reducing rent fees
2 July 12:03 PM Al Mazaya subsidiaries offer rent incentives against COVID-19
Mubasher: Al Mazaya Holding, listed on Boursa Kuwait and the Dubai Financial Market (DFM), announced that some of its subsidiaries have adopted an incentives package to support tenants and real estate investors affected by the coronavirus …
The ratings and outlook reflect the satisfactory level of debt
1 July 04:10 PM CI affirms Al Imtiaz's long-term credit rating at 'BBB'; outlook stable
Mubasher: Capital Intelligence (CI) has affirmed the long-term and short-term credit ratings of Al Imtiaz Investment Group at 'BBB' and 'A3', respectively, and lowered its outlook from Positive to Stable. The 'Stable' outlook shows that the …
Moody's has affirmed the bank's long-term deposit rating at 'A3'
1 July 12:22 PM Moody's affirms Boubyan Bank's credit ratings; outlook stable
Mubasher: Moody's Investors Service has maintained all the credit ratings of Boubyan Bank, with a 'Stable' outlook, according to the bank's disclosure to Boursa Kuwait on Wednesday. The credit rating agency has affirmed the bank's long-term …
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
The shareholders also agreed on distributing bonus shares
29 June 03:38 PM Agility's shareholders approve dividends, bonus shares distribution
Mubasher: The shareholders of Agility Public Warehousing have approved to pay out 5% cash dividends or 5 fils per share for 2019, according to a press release on Monday. The shareholders also agreed on distributing bonus shares, equivalent to 5% …
Photo Archive
29 June 01:13 PM Kamco extends credit facility agreement
Mubasher: Kamco Invest announced that it has renewed a credit facility provided by a local bank, according to a statement to Boursa Kuwait on Monday. Under the new agreement, the bank credit facility limit has been increased by KWD 5 million. The …
The five-month contract will generate operating profits
29 June 10:20 AM CGC's unit wins $2m tender for project in UAE
Mubasher: A subsidiary of Combined Group Contracting (CGC) in the UAE won a tender worth AED 7.67 million, equivalent to KWD 644,938 ($2.1 million), for parking lots in the UAE. The owner of the parking lots of the Critical Infrastructure …
The capital rise will by through issuing 10.843 million bonus shares
28 June 03:19 PM National International Holding EGM approves KWD 23m capital hike
Mubasher: The extraordinary general meeting (EGM) of National International Holding Company has approved to raise the authorised, issued, and paid-up capital from KWD 21.687 million to KWD 22.772 million. The capital rise will by through issuing …
The merger is subject to regulatory approval
28 June 09:59 AM Agility to invest in Tortoise's private offering
Mubasher: Agility Public Warehousing, dually listed on Boursa Kuwait and Dubai Financial Market (DFM), has approved its investment in the private securities offering of Tortoise Acquisition Corp. This announcement is in connection with the merger …
The loan will finance current and future projects for Metal and Recycling
25 June 04:59 PM Metal and Recycling OGM approves KWD 10m loan from Agility
Mubasher: The ordinary general meeting (OGM) of Metal and Recycling Company approved a convertible loan facility agreement at a maximum amount of KWD 10 million with Agility International Investment, a fully-owned subsidiary of Agility Public …
The distribution will be on 14 July - (Photo Archive)
23 June 05:32 PM Al Kout to distribute 50% dividends for 2019
Mubasher: The general assembly of Al Kout Industrial Projects on Tuesday approved the recommendation of the board of directors to distribute dividends for 2019. The dividends will be distributed at 50 fils per share, with a total valued of KWD …
Photo Archive
23 June 05:24 PM Abyaar to resume trading tomorrow
Mubasher: Boursa Kuwait announced that trading the stock of Abyaar Real Estate Development will resume on Wednesday. The stock was suspended as the company did not pay the subscription fees for 2020. A total of 14 stocks were recently announced to …
The sale was at a total value of EUR 4.66 million
22 June 10:10 AM Arzan unit sells KWD 1.6m stake in Hill Top Netherlands
Mubasher: Arzan Capital Holding Limited, a 78.022%-owned subsidiary of Arzan Financial Group for Financing and Investment, has sold a stake in Hill Top Netherlands at a total value of EUR 4.66 million (KWD 1.58 million). After completing the sale …
The bonus shares distribution stands at five shares for every 100 shares
21 June 03:20 PM National International's OGM approves 5% bonus shares for 2019
Mubasher: The ordinary general meeting (OGM) of National International Holding Company, dually listed on Boursa Kuwait and Dubai Financial Market (DFM), approved distributing bonus shares, equivalent to 5% of the issued and paid-up capital, for …
The shareholders also approved not to distribute cash dividends
21 June 09:25 AM Fujairah Cement's OGM nods to withdraw from Boursa Kuwait
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Fujairah Cement Industries Co has agreed on the company's withdrawal from Boursa Kuwait, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Sunday. During …
The distribution date is 9 July 2020
18 June 01:29 PM NAPESCO to distribute 70% dividends for 2019
Mubasher: The general assembly of the National Petroleum Services (NAPESCO) has approved the board of directors’ recommendation to distribute dividends to shareholders for 2019. The eligibility for the dividends will be for the shareholders …
Losses amounted to KWD 1.41 million in 2019
18 June 12:16 PM PetroGulf reduces annual losses by 47%
Mubasher: Gulf Petroleum Investment (PetroGulf) has reported a decline in annual net losses by 46.6%. Losses amounted to KWD 1.41 million ($4.59 million) last year, compared with KWD 2.65 million ($8.63 million) in 2018. The losses were attributed …
Ministry of Electricity and Water - Kuwait
18 June 12:00 PM Gulf Cable signs KWD 8.6m gov’t deals
Mubasher: Gulf Cable and Electrical Industries announced signing two contracts with the Kuwaiti Ministry of Electricity and Water, valued at KWD 8.56 million. The first contract, which involves providing medium-voltage copper cables, is valued at …
The board recommended the distribution of 35% cash dividends
17 June 06:05 PM Boubyan Petrochemical posts 12% growth in annual profits
Mubasher: Boubyan Petrochemical Company reported an increase in profits by 12.1% during the fiscal year (FY) ending 30 April 2020. The profits amounted to KWD 11.82 million ($38.49 million) in the ending year, compared with KWD 10.55 million …
The dual-listed firm acquired 5.99 million shares
17 June 05:08 PM Egypt Kuwait Holding acquires stake in Mohandes Insurance for EGP 105m
Cairo – Mubasher: Egypt Kuwait Holding (EKH), listed on the Egyptian Exchange (EGX) and Boursa Kuwait, purchased a 9.98% stake in Mohandes Insurance, Pharos Securities Brokerage said in a statement to the Egyptian bourse on Wednesday. The …
The services aim at ensuring operational continuity
17 June 11:39 AM stc unveils new video conferencing solutions for businesses
Mubasher: Kuwait Telecommunications Company (stc) rolled out a new bundle of revolutionary remote collaboration tools and integrated video conferencing services for the B2B sector. The new bundle of services and equipment will assist customers in …
Four refiners had smaller cuts in July when compared with June
15 June 11:19 AM Saudi Aramco decreases July crude supplies to 5 Asia buyers
Riyadh - Mubasher: Saudi Aramco has reportedly decreased the July crude volume that it will supply to at least five Asian buyers, Reuters reported on Monday citing multiple sources. The reductions were primarily made for the medium and heavy …