September 18th, 2019 | 0 commentsKAMCO Investment Company announced that its shareholders have assented all matters pertaining to the draft merger contract with Global Investment House, according to a press release on Tuesday. The decision was approved during KAMCO’s extraordinary general meeting (EGM) and was subject to the approval of Kuwait’s Capital Markets Authority...
September 16th, 2019 | 0 commentsAqar Real Estate Investments has concluded a facilities agreement worth AED 50 million or KWD 4.1 million ($13.5 million) with a bank outside Kuwait. The company will use the said facilities in funding its projects and supporting relevant operating activities, Aqar Real Estate said in a filing to Boursa Kuwait on Sunday. Neither the bank’...
September 2nd, 2019 | 0 commentsAl Imtiaz Investment Group announced that one of its units has won a KWD 7.63 million contract from Kuwait Gulf Oil Company (KGOC). Under the five-year contract, the unit will provide mechanical maintenance services for the joint operations in Wafrah, according to a bourse filing on Sunday. The company added that its subsidiary is expecte...
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...
