Latest news with #BoursaKuwaitPremierMarket
Yahoo
07-03-2025
- Business
- Yahoo
Kuwait Stocks Outshine Gulf Peers as Ruler Pushes for Reforms
(Bloomberg) -- Kuwaiti stocks are outpacing their Gulf peers this year, with banks driving a rally built on optimism that long-delayed economic reforms are gaining traction. Trump Administration Plans to Eliminate Dozens of Housing Offices Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low How Sanctuary Cities Are Fighting Trump, Again The Boursa Kuwait Premier Market has jumped 11% this year, more than four times the pace of gains in neighboring Dubai and twice as much as MSCI Inc.'s emerging markets gauge. The buzz around Kuwaiti equities is a wager that moves by ruler Sheikh Mishaal Al-Ahmed Al-Sabah to clear obstacles holding back government spending will work. He suspended parliament for four years last May to end political deadlock, with a spinoff of that expected to be legislation allowing the OPEC member to sell its first bonds since 2017. The potential for other reforms in areas like property finance have helped power a surge in banking stocks. Boubyan Bank KSCP, Burgan Bank SAK and Warba Bank KSCP are all up at least 18% this year. 'The mortgage law is expected to accelerate growth for Kuwait banks' retail franchises,' said Jaap Meijer, head of research at Arqaam Capital in Dubai. Kuwaiti stocks also have the attraction of less-demanding valuations than the average of Gulf peers. Kuwait's benchmark index trades at 14.1 times forward earnings, which is below an average of 15.7 times over the past five years. Plus, the Kuwait index could potentially win an upgrade from secondary to advanced emerging-market status in index compiler FTSE Russell's September review. While that won't trigger higher passive inflows, it would boost sentiment. There are risks to the positive picture: legislative reforms may still take longer than investors like and a boost to the Kuwaiti bourse's standing in the emerging-market universe may prove elusive. For now, the mood is upbeat enough to draw investors and raise the prospect of additional listings as companies look to benefit from the confident tone. 'The current market conditions augur well for initial public offerings, so we will not be surprised if we see a couple of IPOs this year,' said Junaid Ansari, director of Investment Strategy and Research at Kamco Invest in Kuwait City. 'And IPOs support market performance in general.' Snack Makers Are Removing Fake Colors From Processed Foods The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? An All-American Finance Empire Drew Billions—and a Regulator's Attention Greenland Voters Weigh Their Election's Most Important Issue: Trump ©2025 Bloomberg L.P.
Bloomberg
06-03-2025
- Business
- Bloomberg
Kuwait Stocks Outshine Gulf Peers as Ruler Pushes for Reforms
Kuwaiti stocks are outpacing their Gulf peers this year, with banks driving a rally built on optimism that long-delayed economic reforms are gaining traction. The Boursa Kuwait Premier Market has jumped 11% this year, more than four times the pace of gains in neighboring Dubai and twice as much as MSCI Inc.'s emerging markets gauge.
Ammon
29-01-2025
- Business
- Ammon
Zain Group's MSCI rating for ESG upgraded to ‘BBB'
Ammon News - •Vice-Chairman & Group CEO, Bader Al-Kharafi, 'This upgrade reaffirms Zain's commitment to sustainability, corporate governance and ethical leadership, that is value creative for all stakeholders.' •Enhanced governance frameworks; evolving sustainability programs, implementation of stronger environmental policies and reducing carbon emissions; advancements in transparency and reporting; improving data protection and privacy policies, all contributed to upgrade from BB to BBB •In the environmental pillar Zain scored 10/10 – a best-in-class recognition Zain Group, a leading provider of innovative technologies and digital lifestyle and ICT communications operating in eight markets across the Middle East and Africa, announces a significant improvement in its Morgan Stanley Capital International (MSCI) rating in ESG (Environmental, Social, and Governance), which was upgraded from 'BB' to 'BBB' as of December 2024. The renowned MSCI ESG Ratings methodology evaluates companies on their management of material ESG risks and opportunities including climate change, human capital, and corporate governance, with a focus on policies, performance metrics, and controversies. Ratings are industry-relative and range from 'AAA' to 'CCC,' with scores determined by a company's exposure to ESG risks and the effectiveness of its management strategies. MSCI's upgrade for Zain from BB to BBB reflected the company's ethical leadership that oversaw the implementation of enhanced governance frameworks; evolving sustainability programs; stronger environmental policies and reducing carbon emissions; advancements in transparency and reporting; improving data protection and privacy policies. Notably, in the environmental pillar Zain scored 10/10 – a best-in-class recognition. Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented, 'This ESG upgrade reaffirms Zain's commitment to sustainability, corporate governance, and ethical leadership, that is value creative for all stakeholders. It also marks an important milestone for the company as we continue to align with global industry standards and strive for further improvements in our ESG performance in line with our recently announced '4WARD'-Progress with Purpose five-year sustainable corporate strategy.' 'Zain operates within a complex geopolitical context and we will continue to invest in ESG initiatives and focus on mitigating risks through the integration of advanced technologies. We are relentless in our ongoing efforts to engage and collaborate with regulators, shareholders, and the wider community, to drive sound sustainable and corporate governance practices.' 'As a leading entity listed on the Boursa Kuwait Premier Market, sound ESG practices are becoming an increasingly important differentiator for organizations with respect to giving all stakeholders confidence that the company is being run in a sustainable, compliant and transparent manner. This MSCI upgrade to BBB reaffirms Zain's Investor Relations and Corporate Governance Framework as it helps Zain mitigate risks and facilitates an effective Board oversight over the company's executive management by promoting strong internal controls to improve integrity of financials and establishing a culture of compliance.' Al-Kharafi concluded, 'This framework is a cornerstone of the company's regional appeal, and has won the confidence and admiration from shareholders, the banking community, industry analysts, regulatory authorities and other globally recognized indices, attracting global investors.' Zain is one of the most active organizations in the region with respect to delivering meaningful connectivity that leads to equitable systemic change through its ESG initiatives, with the company playing a crucial role in empowering the markets in which it operates to reap the benefits of digital transformation for the benefit of the communities it serves and beyond.
