Latest news with #Al-Osaimi
Zawya
03-05-2025
- Business
- Zawya
Boursa Kuwait increases its net profit by 69.48% in the first quarter of 2025 to reach KD 7.94mln
Al-Kharafi: The strong performance in the first quarter represents a key milestone for Boursa Kuwait, fueling our commitment to accelerate market development and solidify our position as a vital engine for Kuwait's economic growth Al-Osaimi: The Kuwaiti capital market continued to enhance its attractiveness as an investment environment through the first quarter of 2025 Kuwait City: In a meeting of its Board of Directors on Thursday, May 1, 2025, Boursa Kuwait announced that it has recorded a net profit of KD 7.94 million for the first quarter of 2025, a 69.48% increase from its total for the corresponding period in 2024, when the company recorded profits of KD 4.68 million. The company's impressive improvement in net profit was largely driven by strong growth in total operating revenues. For the quarter ended March 31, 2025, total operating revenues reached KD 12.17 million—a 45.34% increase from KD 8.37 million in the same period of 2024. Operating profit also saw a significant boost, rising 69.38% from KD 5.58 million to KD 9.45 million, while earnings per share increased 69.48% from 23.33 fils in the first quarter of 2024 to 39.54 fils for the quarter ended March 31, 2025. Additionally, the Group's total assets came in at KD 139.47 million as of March 31, 2025, which is a 12.86% increase versus the KD 123.57 million total recorded in the first quarter of 2024, while shareholders' equity attributable to equity holders of the parent company increased from KD 54.06 million as of March 31, 2024, to KD 59.03 million as of March 31, 2025, an increase of 9.20%. Boursa Kuwait Chairman Mr. Bader Nasser Al-Kharafi praised the exchange's strong financial performance in the first quarter of 2025, affirming that the results reflect the robustness of its financial solvency, the efficiency of its governance, and the executive team's commitment to creating sustainable value for shareholders. Commenting on the broader market environment, he said, "Despite the prevailing global uncertainty and geopolitical tensions, Boursa Kuwait achieved notable growth across all performance indicators. Net profit increased by 69.48%, demonstrating the resilience of our strategy and the adaptability of our operating model.' 'The strong performance in the first quarter represents a key milestone for Boursa Kuwait, fueling our commitment to accelerate market development and solidify our position as a vital engine for national economic growth and a pivotal contributor to Kuwait's vision of transforming into a leading regional financial and investment hub," added Mr. Al-Kharafi. The Chairman also reiterated the company's commitment to supporting Kuwait's ambitious vision by enhancing the capital market environment to be more dynamic, transparent and efficient; able to attract foreign investments; and introducing products and tools that serve all market participants while aligning with international best practices. He stressed that this is being pursued through a clear strategic roadmap, full confidence in Boursa Kuwait's talent and systems' capabilities, and strong partnerships within the capital market ecosystem—all aimed at advancing the Kuwaiti capital market and contributing meaningfully to its sustainable growth. Mr. Al-Kharafi concluded his remarks by extending his thanks, stating, 'On behalf of the Board of Directors, I would like to express my sincerest gratitude and appreciation to our shareholders for their continued trust in Boursa Kuwait, to our executive management and dedicated employees for their unwavering commitment to excellence. I would also like to thank the Capital Markets Authority and the Ministry of Commerce and Industry for their steadfast support in promoting market stability and elevating its standards of transparency." 'Finally, I would like to thank our valued investors and traders for their trust in Kuwait's capital market. We reaffirm our ongoing commitment to providing them with the best possible investment experience, working hand-in-hand with the market ecosystem to achieve even greater success in the future," he added. The Kuwaiti capital market continued on an upward trajectory, with the value traded soaring by 89.60% from KD 3.54 billion in the first quarter of 2024 to KD 6.72 billion in the corresponding period in 2025, while its volume of shares traded rose by 69.07% from 14.36 billion to 24.29 billion in the first quarter of 2025. Meanwhile, average daily traded value increased by 106.53% from KD 58.06 million during the period ended March 31, 2024, to KD 119.91 million in the period ended March 31, 2025. Additionally, market capitalization reached KD 47.79 billion, marking a 10.85% increase from the March 31, 2024, total of KD 43.11 billion. The 'Premier' Market was a key driver of market activity, with approximately 9.28 billion shares traded in the first quarter of 2025, an increase of 20.91% over the 7.67 billion shares traded in the period ended March 31, 2024. Traded value in Boursa Kuwait's flagship market also increased by 28.93% from KD 2.56 billion to KD 3.30 billion in the first quarter of 2025, while its market capitalization rose 9.50% from KD 36.01 billion to KD 39.44 billion. Meanwhile, the 'Main' Market played a significant role in enhancing overall market liquidity, with its market capitalization rising 17.69% from KD 7.10 billion to KD 8.35 billion in the period ended March 31, 2025. Traded value in the 'Main' Market increased 247.10% from KD 0.98 billion to KD 3.42 billion in the three months ended March 31, 2025, while trading volume increased from 6.69 billion shares in the first quarter of 2024 to 14.99 billion shares in the first quarter of 2025, an increase of 123.97%. Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi commented on the market's performance, stating, 'The Kuwaiti capital market continued to enhance its attractiveness as an investment environment during the first quarter of 2025, propelled by significant increases in trading activity and liquidity. This performance signals growing confidence in Kuwait's investment landscape and reflects Boursa Kuwait's ongoing commitment to boosting market efficiency and expanding the investor pool, furthering our strategic vision for the company as a key catalyst for sustainable economic development." Mr. Al-Osaimi praised the strong performance of both the "Premier" and "Main" markets, emphasizing that these achievements demonstrate the success of Boursa Kuwait's market segmentation model in boosting liquidity, expanding the investor base and aligning the market's infrastructure with international best practices. "Market segmentation has created a more balanced, transparent, and inclusive marketplace for all stakeholders, enabling Boursa Kuwait to strengthen the efficiency of its infrastructure and better meet the needs of both issuers and investors," he noted. The CEO further explained that the traded value attributed to market makers grew by approximately 25.53% year-on-year, underscoring their effectiveness in enhancing liquidity levels and improving price discovery mechanisms within the market. "The Kuwaiti capital market also continues to consolidate its position as a preferred investment destination, with institutional investors accounting for 66% of total market participants — a key factor in reinforcing the market's strength and stability," he said. Mr. Al-Osaimi added that Boursa Kuwait remains committed to attracting international investors through promotional roadshows and institutional days in key global investment hubs, as well as through open engagement with international investment banks, sovereign wealth funds, pension funds, and leading asset management firms. "These efforts support the State's vision of positioning Kuwait as a prominent regional financial and investment hub," he affirmed. Mr. Al-Osaimi concluded his remarks by highlighting the positive outlook for Boursa Kuwait, saying, "We are committed to building on these achievements to drive sustainable growth and positively contribute to Kuwait's national economy. In closing, I would like to express my sincere gratitude to all our partners and investors for their continued trust and support. Their confidence in Boursa Kuwait and in its vital role in advancing the country's economic development inspires us to aim even higher as we move forward." About Boursa Kuwait: The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy. Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center. In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company. In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa». For further information, please contact: Ahmad Rashed Alowaish PR and Media Manager - Boursa Kuwait Email: aalowaish@
Al Bawaba
14-04-2025
- Business
- Al Bawaba
Boursa Kuwait publishes its fourth sustainability report, reaffirming its commitment to governance, transparency and sustainable growth
Boursa Kuwait published its fourth Corporate Sustainability Report, which shed light on the company's initiatives from January 1 to December 31, 2024. The report outlined the company's sustainability strategy and assessed its governance, social responsibility and environmental stewardship performance. The report marks a significant milestone in Boursa Kuwait's journey, reinforcing its commitment to Environmental, Social, and Governance (ESG) practices since its inception and reflecting its dedication to adopting internationally recognized best practices to develop an efficient, transparent, and inclusive financial market. It was prepared in alignment with the core concepts of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) guidelines for the securities and commodities exchanges sector and the United Nations Sustainable Development Goals (SDGs). The report also adheres to the principles of Boursa Kuwait's ESG Reporting Guide, which incorporates the requirements of the International Sustainability Standards Board (ISSB) to meet the evolving and dynamic expectations of all stakeholders. 'This year marked a pivotal milestone for Boursa Kuwait as we celebrated our tenth anniversary — a decade defined by excellence, innovation, and meaningful progress. Over the years, we have played a key role in advancing Kuwait's capital market while embedding sustainability at the heart of our operations and reinforcing our belief that Boursa Kuwait's role extends well beyond facilitating trading and investment. The company is deeply committed to driving economic growth and enhancing financial inclusion across the State of Kuwait,' said Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi. Al-Osaimi added that the report signifies a pivotal step in Boursa Kuwait's efforts to align its objectives with Kuwait's vision for national development and its international climate commitments. He noted that, as a key enabler of sustainable finance and a model issuer in the Kuwaiti capital market, the company plays a prominent role in empowering listed companies to incorporate sustainability into their operations and financial strategies to attract long-term investments. 'In 2024, Boursa Kuwait made significant strides in advancing ESG principles, guided by its comprehensive governance framework, which ensures the highest standards of transparency and underscores the company's commitment to ethical business practices in line with global benchmarks. The company remains committed to ethical business practices in line with the standards adopted worldwide, keeping pace with the evolving dynamics of the international financial landscape and adopting the latest best practices to contribute effectively to a more sustainable future for the Kuwaiti financial sector,' Al-Osaimi said. Throughout 2024, Boursa Kuwait continued to advance its commitment to financial literacy — a core pillar of its mission since inception and a key driver in reinforcing the company's position both regionally and globally. Anchored in the belief that well-informed stakeholders are vital to the growth, integrity, and long-term resilience of capital markets, the company remained steadfast in its efforts to equip individuals with the knowledge and skills needed to actively engage in — and benefit from — Kuwait's capital market and the broader financial ecosystem. These efforts contribute to fostering a more inclusive, empowered, and resilient financial environment. As part of these ongoing efforts, Boursa Kuwait launched the inaugural edition of the 'Bell' initiative, aimed at positioning financial literacy as a foundational tool for financial stability, economic development, and social prosperity. The initiative was implemented in collaboration with the Union of Investment Companies, Kuwait University, the CFA Society Kuwait, Kuwait Financial Centre 'Markaz,' and the Credit Information Network Company (Ci-Net). Boursa Kuwait also added several prestigious accolades to its growing list of achievements, a testament to its continued excellence in corporate sustainability, governance and ESG practices. The company received seven awards from renowned international institutions, underscoring its leadership and impact in these critical areas, including 'Best in Sustainability Transparency' award from Global Finance magazine, 'Best Sustainable Corporate Governance – Kuwait' and 'Best ESG Strategy – 2024' from The European magazine and 'Outstanding Contribution to Women's Empowerment in MENA – 2023', 'Best ESG Strategy in GCC Capital Markets – 2023' and 'Outstanding Contribution to Financial Inclusion in GCC Capital Markets – 2023' from Capital Finance International (CFI). Its 2023 Sustainability Report was also recognized as the Best Sustainability and ESG Report by the Middle East Investor Relations Association (MEIRA). The bourse was able to make strides in its ESG efforts internally as well, achieving an employee retention rate of 98% in 2024 to underscore its success in cultivating a dynamic and empowering work environment that fosters both professional growth and personal development. Boursa Kuwait also continued to actively support a range of social and environmental initiatives, working closely with local and international organizations to sponsor 38 programs designed to create meaningful, long-term impact within the community it serves throughout the year. These accomplishments underscore Boursa Kuwait's unwavering commitment to promoting transparency, embedding sound governance and advancing sustainability across the market as well as highlighting the company's pivotal role as a leading enabler of sustainable finance in Kuwait, dedicated to building a resilient, inclusive financial ecosystem that drives economic growth and supports the transition to a more sustainable future.
Zawya
13-04-2025
- Business
- Zawya
Boursa Kuwait publishes its fourth sustainability report
The report outlined the company's sustainability strategy, its non-financial performance and initiatives for 2024 Kuwait City: Boursa Kuwait published its fourth Corporate Sustainability Report, which shed light on the company's initiatives from January 1 to December 31, 2024. The report outlined the company's sustainability strategy and assessed its governance, social responsibility and environmental stewardship performance. The report marks a significant milestone in Boursa Kuwait's journey, reinforcing its commitment to Environmental, Social, and Governance (ESG) practices since its inception and reflecting its dedication to adopting internationally recognized best practices to develop an efficient, transparent, and inclusive financial market. It was prepared in alignment with the core concepts of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) guidelines for the securities and commodities exchanges sector and the United Nations Sustainable Development Goals (SDGs). The report also adheres to the principles of Boursa Kuwait's ESG Reporting Guide, which incorporates the requirements of the International Sustainability Standards Board (ISSB) to meet the evolving and dynamic expectations of all stakeholders. 'This year marked a pivotal milestone for Boursa Kuwait as we celebrated our tenth anniversary — a decade defined by excellence, innovation, and meaningful progress. Over the years, we have played a key role in advancing Kuwait's capital market while embedding sustainability at the heart of our operations and reinforcing our belief that Boursa Kuwait's role extends well beyond facilitating trading and investment. The company is deeply committed to driving economic growth and enhancing financial inclusion across the State of Kuwait,' said Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi. Al-Osaimi added that the report signifies a pivotal step in Boursa Kuwait's efforts to align its objectives with Kuwait's vision for national development and its international climate commitments. He noted that, as a key enabler of sustainable finance and a model issuer in the Kuwaiti capital market, the company plays a prominent role in empowering listed companies to incorporate sustainability into their operations and financial strategies to attract long-term investments. 'In 2024, Boursa Kuwait made significant strides in advancing ESG principles, guided by its comprehensive governance framework, which ensures the highest standards of transparency and underscores the company's commitment to ethical business practices in line with global benchmarks. The company remains committed to ethical business practices in line with the standards adopted worldwide, keeping pace with the evolving dynamics of the international financial landscape and adopting the latest best practices to contribute effectively to a more sustainable future for the Kuwaiti financial sector,' Al-Osaimi said. Throughout 2024, Boursa Kuwait continued to advance its commitment to financial literacy — a core pillar of its mission since inception and a key driver in reinforcing the company's position both regionally and globally. Anchored in the belief that well-informed stakeholders are vital to the growth, integrity, and long-term resilience of capital markets, the company remained steadfast in its efforts to equip individuals with the knowledge and skills needed to actively engage in — and benefit from — Kuwait's capital market and the broader financial ecosystem. These efforts contribute to fostering a more inclusive, empowered, and resilient financial environment. As part of these ongoing efforts, Boursa Kuwait launched the inaugural edition of the 'Bell' initiative, aimed at positioning financial literacy as a foundational tool for financial stability, economic development, and social prosperity. The initiative was implemented in collaboration with the Union of Investment Companies, Kuwait University, the CFA Society Kuwait, Kuwait Financial Centre 'Markaz,' and the Credit Information Network Company (Ci-Net). Boursa Kuwait also added several prestigious accolades to its growing list of achievements, a testament to its continued excellence in corporate sustainability, governance and ESG practices. The company received seven awards from renowned international institutions, underscoring its leadership and impact in these critical areas, including 'Best in Sustainability Transparency' award from Global Finance magazine, 'Best Sustainable Corporate Governance – Kuwait' and 'Best ESG Strategy – 2024' from The European magazine and 'Outstanding Contribution to Women's Empowerment in MENA – 2023', 'Best ESG Strategy in GCC Capital Markets – 2023' and 'Outstanding Contribution to Financial Inclusion in GCC Capital Markets – 2023' from Capital Finance International (CFI). Its 2023 Sustainability Report was also recognized as the Best Sustainability and ESG Report by the Middle East Investor Relations Association (MEIRA). The bourse was able to make strides in its ESG efforts internally as well, achieving an employee retention rate of 98% in 2024 to underscore its success in cultivating a dynamic and empowering work environment that fosters both professional growth and personal development. Boursa Kuwait also continued to actively support a range of social and environmental initiatives, working closely with local and international organizations to sponsor 38 programs designed to create meaningful, long-term impact within the community it serves throughout the year. These accomplishments underscore Boursa Kuwait's unwavering commitment to promoting transparency, embedding sound governance and advancing sustainability across the market as well as highlighting the company's pivotal role as a leading enabler of sustainable finance in Kuwait, dedicated to building a resilient, inclusive financial ecosystem that drives economic growth and supports the transition to a more sustainable future. About Boursa Kuwait: The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy. Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center. In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company. In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa». For further information, please contact: Ahmad Rashed Alowaish PR and Media Manager - Boursa Kuwait Email: aalowaish@
Arab Times
05-04-2025
- Sport
- Arab Times
Kuwait Shooting Federation extends gratitude to HH the Amir for continued support
KUWAIT CITY, April 5: The Chairman and members of the Board of Directors of the Kuwait Shooting Federation, along with all members of the Kuwaiti shooting community, expressed their sincere appreciation to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for his unwavering support of the Kuwait Shooting Sports Club and his continuous encouragement of Kuwaiti shooters to pursue excellence across regional and international competitions. Obaid Al-Osaimi, Secretary-General of both the Kuwait and Arab Shooting Federations, extended special thanks to His Highness for his generous patronage of the Amir's International Shooting Championship, which will take place from April 11 to 20. While presiding over the meeting of the tournament's organizing committees at the Kuwait Shooting Sports Club, Al-Osaimi emphasized that hosting this prestigious championship for the twelfth consecutive year is a tremendous honor. He noted that it reflects not only the club and federation's dedication but also the boundless support Kuwaiti shooting continues to receive from His Highness the Amir. This backing, he said, has been instrumental in elevating Kuwait's global standing in the sport and in securing Olympic and international medals for Kuwaiti shooters. During the meeting, the heads of the organizing committees presented detailed briefings on the preparations and logistical arrangements carried out over the past period. Each committee leader outlined their team's responsibilities, coordination mechanisms, and execution plans to ensure a successful event. Al-Osaimi expressed his full confidence in the committees, praising their extensive experience in hosting major tournaments. He also announced that the opening ceremony of the tournament will be held on Saturday at 6:30 pm at the Kuwait Shooting Sports Club in the presence of His Highness the Amir's representative, Sheikh Sabah Badr Al-Sabah, Governor of Mubarak Al-Kabeer.
Leaders
25-02-2025
- Climate
- Leaders
Saudi Arabia Witnesses Strongest Cold Wave This Year
Saudi Weather expert Abdullah Al-Osaimi stated that the Kingdom is currently experiencing the strongest cold wave of the year. Al-Osaimi also revealed that this fast-impact wave will reach its peak today, Tuesday, and tomorrow, Wednesday. Earlier today, the National Center of Meteorology (NCM) announced its forecasts for Tuesday's temperatures in various regions of the Kingdom. According to the NCM, Arar recorded the lowest temperature at -3 Celsius, followed by Sakaka at -2 Celsius, with very cold weather at night and in the early morning. Meanwhile, Mecca topped the list with the highest temperature at 33 degrees Celsius. Furthermore, Jizan and Najran recorded 31 degrees, followed by Jeddah with 29 degrees, and Riyadh with 14 degrees Celsius. As for the maximum temperatures, the center announced the following predictions, as follows: 23 degrees in Medina 16 in Dammam 10 in Sakaka 12 in Hail and Buraidah 15 in Tabuk Related Topics: Saudi Arabia to Witness Cold Weather, Heavy Rains, and Snowfall Northern Regions to Experience Extreme Cold Weather from Saturday Meteorologist Reveals End of Cold Wave in Kingdom Short link :
