Latest news with #Al-Ghanem
Arab Times
14-04-2025
- Politics
- Arab Times
Kuwait hosts Egypt's president
KUWAIT CITY, April 14: Egyptian President Abdel Fattah El-Sisi arrived in Kuwait Monday on a state visit. His Highness the Amir, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, along with His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, received the Egyptian President and his accompanying delegation at the Amiri Airport. Acting Prime Minister Sheikh Fahad Yousef Saud Al-Sabah, Minister of Amiri Diwan Affairs Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah, Deputy Premier and Minister of State for Cabinet Affairs Shireedah Al-Mousherji and Minister of Foreign Affairs Abdullah Al-Yahya were also among the audience. Minister of Defense and Acting Minister of Interior Sheikh Abdullah Ali Abdullah Al-Salem Al-Sabah is heading the Mission of Honor accompanying the distinguished guest. Upon arrival, the national anthems of both countries were played. His Highness the Amir greeted the Egyptian delegation before artillery fired a 21-gun salute for President El-Sisi. Meanwhile, Kuwait's Ambassador to Egypt Ghanem Al-Ghanem, earlier described the upcoming visit of Egyptian President Abdel Fattah El-Sisi to Kuwait as historic, emphasizing that it comes at a time of great sensitivity for the region. In a statement to KUNA today, Ambassador Al-Ghanem said the visit reflected the depth and strength of the bilateral relations between Kuwait and Egypt. He added that the relationship was formally institutionalized following Kuwait's declaration of independence, with the exchange of ambassadors and the establishment of official diplomatic relations. Cooperation has since expanded to include political, economic, cultural, and other areas under the framework of the Joint Higher Committee, which held its 13th session in Cairo last September, chaired by the foreign ministers of both countries. The ambassador highlighted Egypt's longstanding support for Kuwait's independence and sovereignty, as well as its prompt recognition of Kuwait as a state and its support for its membership in the Arab League, and he praised the consistent alignment and coordination between the two countries on key regional and international issues. Al-Ghanem also recalled landmark moments in the bilateral relationship, noting Kuwait's unwavering support for Egypt during the 1967 and 1973 wars, and Egypt's stance during the Iraqi invasion of Kuwait. He emphasized that economic and trade relations have seen significant growth in recent years, with Egypt becoming a key destination for Kuwaiti investments in both the public and private sectors. There are now over 1,000 Kuwaiti companies operating in Egypt, with investments exceeding USD 20 billion across sectors such as infrastructure, roads, tourism, and agriculture, making Kuwait Egypt's third-largest Arab trading partner. The ambassador also highlighted the important developmental role of the Kuwait Fund for Arab Economic Development (KFAED) in Egypt, which has completed 50 projects in various sectors, and adding that new projects are currently being studied for future implementation. He praised Egypt's recent economic reforms and legislative modernization, which have made it an attractive destination for foreign investment, noting the growing presence of major international companies in Egypt, as well as the increasing number of Kuwaiti private sector projects and companies operating in the Egyptian market in recent years. Egypt's Ambassador to Kuwait, Osama Shaltout, praised the warm welcome extended by His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for the upcoming state visit of Egyptian President Abdel Fattah El-Sisi to Kuwait. In an interview with KUNA, the Ambassador noted that the visit comes at a particularly critical time, both in terms of the development of bilateral relations between Cairo and Kuwait, and amid ongoing regional and international developments that demand unity and solidarity among Arab and Islamic nations. He stated that the meeting between the two leaders provides a valuable opportunity to exchange views and consult on ways to strengthen bilateral cooperation in all fields, particularly investment and trade, which are key priorities for both countries. The Ambassador highlighted the directives of the political leadership in both Egypt and Kuwait to boost investment, trade, and economic cooperation in a manner that benefits both nations and contributes to achieving their respective development goals. Ambassador Shaltout added that the high-level meeting would also include the exchange of proposals and ideas on key regional issues, most notably the Palestinian cause, the Israeli occupation's aggression in Gaza and the West Bank, and the situations in Syria and Lebanon, as well as developments in Sudan, Libya, and Yemen. He noted that Egypt and Kuwait hold near-identical positions on these matters, reflecting the alignment of their foreign policies with international law, principles of justice, and shared human values. In response to a question regarding the key topics to be discussed during the visit, the Ambassador said the summit would include talks on ways to further enhance and develop bilateral relations, especially in light of favorable opportunities to expand investment and trade between Egypt and Kuwait. He pointed to tangible progress in bilateral relations in multiple sectors, particularly investment and trade, as well as energy, tourism, culture, and labor, all of which are witnessing steady growth. On the role both nations play in advancing joint Arab action amid ongoing challenges, Shaltout stated that Egypt and Kuwait pursue foreign policies defined by moderation and wisdom, 'which creates a pivotal role for them in strengthening joint Arab action, especially in light of the multiple challenges facing the Arab region.' He added that both Kuwait and Egypt consistently work to unify Arab positions and bring together divergent views, whether through the Arab League or via independent initiatives, always emphasizing political solutions and dialogue over military confrontation. (KUNA)
Egypt Today
14-04-2025
- Business
- Egypt Today
President Sisi's visit to Kuwait ‘historic', Ambassador Ghanem Saqr Al-Ghanem
CAIRO – 14 April 2025: Kuwait's Ambassador to Cairo, Ghanem Saqr Al-Ghanem described Egypt's President Abdel Fattah El-Sisi visit to his country, per an invitation from the Emir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, as 'historic'. He explained that the visit comes at a time when the region is experiencing extremely difficult circumstances. And that this visit underscores the depth of bilateral relations between the leaderships and peoples of the two brotherly countries. Ambassador Al-Ghanem added on Monday that Kuwaiti-Egyptian relations date back more than a century. He explained that these ties were initially characterized by a cultural dimension, with prominent Egyptian cultural figures visiting Kuwait, as well as Kuwaiti educational missions sent in the late 1930s and early 1940s to study at Al-Azhar University and Egyptian educational institutions. He added that the relationship between Kuwait and Egypt was formalized after the declaration of Kuwait's independence, the exchange of ambassadors, the establishment of official diplomatic relations between the two sister countries, and cooperation at the political, economic, cultural, and other levels. In this regard, he referred to the work of the Joint Committee, which held its 13th session in Cairo last September, chaired by the foreign ministers of the two countries. Al-Ghanem pointed out that since the establishment of diplomatic relations with the declaration of the independence of the State of Kuwait, Egypt has affirmed its support for the country's independence, sovereignty, and accession to the League of Arab States. He emphasized that Egypt has taken honorable positions since his country's independence, in addition to the political coordination and convergence of views between the two countries on various regional and international issues. Kuwait's Ambassador stated that economic and trade relations between Kuwait and Egypt have also witnessed significant growth in recent years. Egypt is a destination for Kuwaiti investments in both the public and private sectors, in addition to numerous partnerships between Kuwaiti and Egyptian investors, according to Al-Ghanem. He explained that more than 1,000 Kuwaiti companies operate in Egypt, while the value of Kuwaiti investments has exceeded $20 billion in various sectors, including infrastructure, roads, tourism, and agriculture. This has made Kuwait Egypt's third-largest trading partner among Arab countries. Egypt's President Sisi started on Sunday a two-leg Gulf tour that also includes Qatar and Kuwait. In Kuwait, Sisi expected to meet with Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, and Acting Prime Minister Sheikh Fahad Yusuf Saud Al-Sabah. The president's visit to Kuwait underscores the strong strategic relations between the two countries and reflects their mutual commitment to expanding economic cooperation and investment, said the presidency.
Zawya
10-04-2025
- Business
- Zawya
Warba Bank announces capital increase subscription for shareholders
KUWAIT CITY - Following regulatory approvals and the Extraordinary General Assembly's decision to increase the Bank's capital by 100%, at a value amounting to KD 218,360,000 with an issuance premium of KD 218,360,000, Warba Bank has officially launched the electronic subscription phasein its capital increase. This phase is open to shareholders whose names are registered in the Bank's shareholder register with the Kuwait Clearing Company (Maqasa) as of April 9, 2025, to exercise their preemptive rights. The Bank is offering 2,183,600,000 (two billion, one hundred and eighty-three million, six hundred thousand) new shares at 200 fils per share, comprising 100 fils nominal value and 100 fils issuance premium, resulting in a total capital increase of KD 436,720,000. Chief Executive Officer of Warba Bank, Shaheen Hamad Al-Ghanem, commented:'The anticipated capital increase represents a pivotal milestone in Warba Bank's growth journey and a strategic step that supports our ambitious expansion plans and strengthens our position as a leading Islamic banking institution. Over the past years, Warba has achieved qualitative progress across various sectors, supported by a clear vision focused on innovation, digital transformation, and sustainability. Today, we open the door for our shareholders to be part of the next phase of this journey.' He added:'This increase will enable us to strengthen our capital base and diversify our investments to meet our customers' aspirations and generate sustainable value for shareholders. We recognize that our shareholders have always been partners in our continued success. With this step, we reaffirm our determination to implement our growth strategy, expand our banking services, and invest in the latest financial solutions that address future market demands. This opportunity invites every shareholder to take part in building a brighter tomorrow as we move forward together toward our shared vision.' Al-Ghanem emphasized that the Bank is committed to streamlining the subscription process by offering it electronically, saving shareholders time and effort in line with Warba Bank's digital development strategy aimed at providing flexible, accessible banking solutions. Shareholders must complete the subscription process directly via the dedicated website or through the IPO Kuwait application. Once registered, the system will determine their eligibility. Subscribers will then select the number of shares they wish to purchase and proceed with payment through the electronic payment system. Al-Ghanem encouraged all shareholders and interested parties to review the subscription prospectus, which outlines the terms, conditionsand procedures of the offering. The prospectus is available on the Boursa Kuwait website as well as Warba Bank's official website at He concluded by stating: 'This capital increase is not merely a financial move. It is a reaffirmation of Warba Bank's commitment to expansion and sustainable growth. We stand at the threshold of a new chapter of progress, ready to reinforce our leadership in the banking sector through strategic investments that foster innovation, improve customer experience, and deliver lasting value for shareholders. Together, we continue building a stronger, more stable future—guided by our ambitious vision and inspired by our promise: 'We hear you, to own tomorrow.'' Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. ( arabtimes
Arab Times
09-04-2025
- Business
- Arab Times
Warba Bank Announces Launch of its Capital Increase Subscription Electronically for Shareholders
KUWAIT CITY, Apr 09: Following regulatory approvals and the Extraordinary General Assembly's decision to increase the Bank's capital by 100%, at a value amounting to KD 218,360,000 with an issuance premium of KD 218,360,000, Warba Bank has officially launched the electronic subscription phasein its capital increase. This phase is open to shareholders whose names are registered in the Bank's shareholder register with the Kuwait Clearing Company (Maqasa) as of April 9, 2025, to exercise their preemptive rights. The Bank is offering 2,183,600,000 (two billion, one hundred and eighty-three million, six hundred thousand) new shares at 200 fils per share, comprising 100 fils nominal value and 100 fils issuance premium, resulting in a total capital increase of KD 436,720,000. Chief Executive Officer of Warba Bank, Shaheen Hamad Al-Ghanem, commented:'The anticipated capital increase represents a pivotal milestone in Warba Bank's growth journey and a strategic step that supports our ambitious expansion plans and strengthens our position as a leading Islamic banking institution. Over the past years, Warba has achieved qualitative progress across various sectors, supported by a clear vision focused on innovation, digital transformation, and sustainability. Today, we open the door for our shareholders to be part of the next phase of this journey.' He added:'This increase will enable us to strengthen our capital base and diversify our investments to meet our customers' aspirations and generate sustainable value for shareholders. We recognize that our shareholders have always been partners in our continued success. With this step, we reaffirm our determination to implement our growth strategy, expand our banking services, and invest in the latest financial solutions that address future market demands. This opportunity invites every shareholder to take part in building a brighter tomorrow as we move forward together toward our shared vision.' Al-Ghanem emphasized that the Bank is committed to streamlining the subscription process by offering it electronically, saving shareholders time and effort in line with Warba Bank's digital development strategy aimed at providing flexible, accessible banking solutions. Shareholders must complete the subscription process directly via the dedicated website or through the IPO Kuwait application. Once registered, the system will determine their eligibility. Subscribers will then select the number of shares they wish to purchase and proceed with payment through the electronic payment system. Al-Ghanem encouraged all shareholders and interested parties to review the subscription prospectus, which outlines the terms, conditionsand procedures of the offering. The prospectus is available on the Boursa Kuwait website as well as Warba Bank's official website at He concluded by stating: 'This capital increase is not merely a financial move. It is a reaffirmation of Warba Bank's commitment to expansion and sustainable growth. We stand at the threshold of a new chapter of progress, ready to reinforce our leadership in the banking sector through strategic investments that foster innovation, improve customer experience, and deliver lasting value for shareholders. Together, we continue building a stronger, more stable future—guided by our ambitious vision and inspired by our promise: 'We hear you, to own tomorrow.''
