August 22nd, 2019 | 0 commentsAlafco Aviation Lease and Finance Company announced that it has excluded two Boeing B737-800 planes from its leasing contract with the Indian company Jet Airways, as the latter had failed to fulfill its obligations. Alafco highlighted that the total value of the two planes amounts to $80 million (KWD 24.5 million) as per the posted value...
July 29th, 2019 | 0 commentsSultan Center Food announced that its 99%-owned subsidiary National Energy has signed a contract to sell its stake in two investments at a total value of $35 million. As part of a restructuring plan, National Energy will sell its full stake in Al Khorayef United Holding, representing 24% of Al Khorayef’s capital, in addition to exiting it...
July 10th, 2019 | 0 commentsThe National Bank of Kuwait (NBK) achieved an increase of 12.5% in profits during the first six months of 2019 compared to the same period a year ago. Profits reached KWD 209.09 million ($689 million) in H1-19 from KWD 185.86 million ($612.5 million) in H1-18, according to a bourse disclosure on Tuesday. During the second quarter of 2019,...
June 27th, 2019 | 0 commentsBurgan Bank has received Kuwait’s Central Bank of Kuwait (CBK) approval for the issuance of Perpetual Tier 1 (AT1) capital securities at up to $500 million. The issuance of the perpetual securities will help the bank manage its capital and long term liquidity in accordance with regulatory requirements, according to a bourse statement rele...
June 17th, 2019 | 0 commentsThe value of real estate transactions in Kuwait surged a 33% month-on-month to KWD 385 million ($1.26 billion) in April on the back of the sales of commercial, residential, and investment properties. The number of transactions soared 31% month-on-month in April, the highest level since 2014, recording 819, according to a report released b...
June 11th, 2019 | 0 commentsBusiness partners owe KWD 1.407 million in debts to Kuwait Cable Vision Company, the Kuwaiti firm chairman told Al Rai newspaper. Farah Media Company’s debts owed to Kuwait Cable amounted to KDW 182,000, while ShahrZad Company’s unsettled amounts to the provider of satellite TV stations reached KWD 543,500, along with KWD 682,300 in outst...
May 28th, 2019 | 0 commentsIntegrated Holding Co disclosed that its deputy chairman and CEO Jassim Mustafa Jassim Boodai has sold an equity of 5 million shares in the company’s capital on Sunday. The Boursa Kuwait-listed company did not announce the price of this transaction. It is noteworthy that Boodai owns 24.4% of Integrated Holding’s capital which stands at KW...
May 15th, 2019 | 0 commentsThe National Real Estate Company (NREC) reported a decrease of 19.5%, on an annual basis, during the first quarter of 2019. Profits shrank to KWD 3.63 million ($11.97 million) in Q1-19 from KWD 4.51 million ($14.87 million) in Q1-18, according to a bourse filing on Tuesday. NREC’s total assets stood at KWD 468.8 million by the end of the...
May 14th, 2019 | 0 commentsKuwait-based Tamdeen Real Estate Company is set to complete its KWD 65 million Tamdeen Square project by the end of 2019, the company’s chairman said. The firm is working on finishing the final phase of interior finishes of the residential units in the project’s three towers, Al Seyassah newspaper reported, citing Mashal Al Marzouq. Al Ma...
May 6th, 2019 | 0 commentsThe extraordinary general meeting (EGM) of Al Assima Real Estate Co, a subsidiary of Salhia Real Estate, approved to increase the capital by KWD 30 million. Therefore, Al Assima Real Estate’s capital will become KWD 110 million after the hike. This capital raise will generate an increase in Salhia Real Estate’s investment in Al Assima as...
