Latest news with #BaderNasserAl-Kharafi
Broadcast Pro
09-05-2025
- Business
- Broadcast Pro
Zain KSA appoints new Chairman and Vice Chairman
Mohammed Alkhudair has also been named Secretary of the Board of Directors. Zain KSA, a telecommunications and digital services provider in Saudi Arabia, has announced the appointment of new leadership for its Board of Directors following elections held at the Ordinary General Assembly on April 24, 2025. The newly elected Board, serving a four-year term, has named Eng. Abdullah bin Fahad Al-Fares as Chairman and Bader Nasser Al-Kharafi as Vice Chairman. Eng. Abdullah Al-Fares brings a wealth of experience in economic leadership and strategic transformation, with a strong background in both public and private sectors. Currently serving as Undersecretary for Strategy and Development at the Ministry of Industry and Mineral Resources, Al-Fares has previously held senior roles, including Chief Strategy Officer at a company under the Public Investment Fund and Deputy Governor for Strategy at the Small and Medium Enterprises General Authority. His academic background includes a Master's degree in Business Administration from Prince Sultan University and a Bachelor's degree in Electrical Engineering from King Saud University. Bader Nasser Al-Kharafi, the newly appointed Vice Chairman, is a well-established figure in the ICT industry across the Middle East and Africa. He currently serves as Vice-Chairman and Group CEO of Zain Group and holds positions on the boards of several regional and international companies across the financial and industrial sectors. Notably, he is also the Chairman of the Board at Boursa Kuwait. Al-Kharafi earned his MBA from the London Business School and holds a Bachelor's degree in Mechanical Engineering from Kuwait University.
Zawya
05-05-2025
- Business
- Zawya
Abdullah Al-Fares appointed Chairman of KSA, Bader Al-Kharafi as Vice Chairman
Zain KSA, a leading telecommunications and digital services provider, announced that its Board of Directors, elected by the Ordinary General Assembly held on April 24, 2025, for a new four-year term, has appointed Eng. Abdullah bin Fahad Al-Fares as Chairman of the Board of Directors and Mr. Bader Nasser Al-Kharafi as Vice Chairman of the Board. The Chairman, Eng. Abdullah bin Fahad Al-Fares, is a national economic leader with extensive experience in both the public and private sectors, having worked in several fields, most notably strategic management, transformation, and governance. He currently serves as Undersecretary for Strategy and Development at the Ministry of Industry and Mineral Resources. He has also held several leadership positions throughout his career, including Chief Strategy Officer at a Public Investment Fund company and Deputy Governor for Strategy at the Small and Medium Enterprises General Authority. Al-Fares holds a Master's degree in Business Administration from Prince Sultan University and a Bachelor's degree in Electrical Engineering from King Saud University. Mr. Bader Nasser Al-Kharafi is a prominent leader in the ICT sector in the Middle East and Africa, currently serving as Vice-Chairman and Group CEO of Zain Group as well as a member of the Board of Directors at several regional and international companies operating in the financial and industrial sectors, including the Chairmanship of the Board of Directors at Boursa Kuwait. Al-Kharafi holds an MBA degree from the London Business School and a Bachelor's degree in Mechanical Engineering from Kuwait University.
Arabian Business
05-05-2025
- Business
- Arabian Business
Boursa Kuwait net profit soars 69.5% as trade increases significantly
Boursa Kuwait, the operator of the Kuwait Stock Exchange, said its net profit increased 69.48 per cent in the first quarter of 2025, reaching KD7.94 million (US$25.9 million). For the quarter ended 31 March, total operating revenues reached KD12.17 million (US$39.7 million) – a 45.34 per cent increase from KD8.37 million (US$27.3 million) in the same period in 2024. Operating profit was up 69.38 per cent from KD5.58 million (US$18.2 million) to KD9.45 million (US$30.8 million), while earnings per share increased 69.48 per cent from 23.33 fils to 39.54 fils. The group's total assets rose to KD139.47 million (US$454.8 million), an increase of 12.86 per cent compared to the corresponding quarter last year. Bader Nasser Al-Kharafi, Chairman, Boursa Kuwait, praised his team for the result and commented: '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.' Value traded at the Kuwaiti capital market jumped significantly by 89.6 per cent in Q1 2025, to KD6.72 billion (US$21.9 billion) from KD3.54 billion (US$11.54 billion) in Q1 2024. Volume of shares traded rose by 69.07 per cent to 24.29 billion and the average daily traded value increased by 106.53 per cent to KD119.91 million (US$391 million). Market capitalisation reached KD47.79 billion (US$155.84 billion), a 10.85 per cent increase from Q1 2024. 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 per cent. The 'Main' Market played a significant role in enhancing overall market liquidity, with its market capitalisation rising 17.69 per cent from KD7.10 billion (US$23.15 billion) to KD8.35 billion (US$27.23 billion). Mohammad Saud Al-Osaimi, Chief Executive Officer of Boursa Kuwait, commented: '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. 'We are committed to building on these achievements to drive sustainable growth and positively contribute to Kuwait's national economy.'
Kuwait Times
04-05-2025
- Business
- Kuwait Times
Boursa Kuwait increases its net profit 69.48% to KD 7.94 million in Q1 2025
Total operating revenues increased by 45.34% • Operating profit soared by 69.38% 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 KUWAIT: In a meeting of its Board of Directors on 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 percent 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 percent increase from KD 8.37 million in the same period of 2024. Operating profit also saw a significant boost, rising 69.38 percent from KD 5.58 million to KD 9.45 million, while earnings per share increased 69.48 percent 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 percent 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 percent. Boursa Kuwait Chairman Bader Nasser Al-Kharafi Boursa Kuwait Chairman 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 percent, 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,' Al-Kharafi added. 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. 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 percent 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 percent from 14.36 billion to 24.29 billion in the first quarter of 2025. Meanwhile, average daily traded value increased by 106.53 percent 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 percent 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 percent 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 percent from KD 2.56 billion to KD 3.30 billion in the first quarter of 2025, while its market capitalization rose 9.50 percent 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 percent 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 percent 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 percent. Boursa Kuwait's CEO Mohammad Saud Al-Osaimi Boursa Kuwait's Chief Executive Officer Mohammad Saud Al-Osaimi commended 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.' 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 percent 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 percent of total market participants — a key factor in reinforcing the market's strength and stability,' he said. 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. 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.'
Al Bawaba
04-05-2025
- Business
- Al Bawaba
Boursa Kuwait increases its net profit by 69.48% in the first quarter of 2025 to reach KD 7.94 million
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."
