Latest news with #KuwaitStockExchange
Saba Yemen
6 days ago
- Business
- Saba Yemen
Stock Kuwait Exchange Closes Higher
Kuwait - (Saba): The Kuwait Stock Exchange closed trading on Wednesday with its general index rising 49.32 points, or 0.61 percent, to reach 8,119.3 points. During the session, 301.5 million shares were traded through 19,203 cash transactions, valued at KWD 90.2 million (approximately $276.9 million). The main market index rose 0.53 points, or 0.01 percent, to reach 6,966.32 points, through 147.8 million shares traded through 8,800 cash transactions, valued at KWD 21.3 million (approximately $65.3 million). The Premier Market Index also rose 63.9 points, or 0.73 percent, to reach 8,808.1 points, with 153.7 million shares traded in 10,403 transactions, valued at KWD 68.9 million (approximately $211.5 million). Conversely, the Main 50 Index fell 48.61 points, or 0.67 percent, to reach 7,251.35 points, with 106.5 million shares traded in 5,869 cash transactions, valued at KWD 16.8 million (approximately $51.5 million). Whatsapp Telegram Email Print more of (International)
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.'
Zawya
29-04-2025
- Business
- Zawya
Gulf Bank issues its fifth Annual Sustainability Report for 2024
Meshal Al-Wazzan: "We have completed the Bank's sustainability governance infrastructure, following the implementation of the 'Sustainable Finance' and 'Environmental, Social, and Governance (ESG) Risk Management' frameworks.' 'We established an internal policy to document the Bank's sustainability commitments and developed transparent criteria for classifying and evaluating sustainability-related initiatives." "This year, we are preparing to implement the IFRS S1 and S2 sustainability disclosure standards, deepening the integration of ESG considerations into regulatory policies.' Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled 'From Vision to Execution', highlighting the Bank's advancements in sustainability in line with Kuwait Vision 2035. The report is aligned with the Global Reporting Standards (GRI), MSCI ESG rating criteria, the United Nations Sustainable Development Goals (SDGs), and the sustainability disclosure guidelines issued by the Kuwait Stock Exchange. The report highlights Gulf Bank's key achievements in executing its ESG strategy, highlighting its prominent role in accelerating the national sustainability agenda through strategically selected initiatives. It emphasizes the Bank's active contributions to fostering a sustainable approach within society by adopting responsible practices in the environmental, social, and governance (ESG) fields, while providing innovative financial solutions and services to its clients. Core Pillars On this occasion, Mr. Meshal Al-Wazzan, Chief Strategy Officer at Gulf Bank, stated, 'In 2024, our focus remained steadfast on advancing our sustainability strategy through sustainable banking solutions and community-centric initiatives, which are key pillars across the Bank's path toward creating a long-lasting positive impact.' He added: "Our journey towards sustainability has been marked by several key milestones. Among the most notable achievements was the completion of the Bank's sustainability governance infrastructure, following the development of the Bank's 'Sustainable Finance' and 'Environmental, Social, and Governance (ESG) Risk Management' frameworks. Additionally, we established an internal policy to document the Bank's sustainability commitments and developed transparent criteria for classifying and evaluating sustainability-related initiatives." The report further highlights the Bank's significant achievements in reducing its carbon footprint, enhancing monitoring and follow-up systems, improving facilities management, and advancing responsible banking practices. It also showcases progress in corporate governance standards, with a focus on responsible governance, equitable workplace, employee empowerment, professional development, and gender equality. Commitment to National Economy Gulf Bank reaffirms its steadfast commitment to sustainability through its diverse Corporate Social Responsibility (CSR) initiatives and long-term strategic partnerships. The Bank further expanded its support for small and medium-sized enterprises (SMEs), recognizing their crucial role in driving economic growth and contributing to the broader goals of Kuwait's 2035 Vision. The year 2025 will mark several significant milestones, including its readiness for the implementation of the IFRS S1 and S2 sustainability disclosure standards, emphasizing the integration of ESG considerations into the Bank's policies, governance charters, communication channels, and reporting procedures, in parallel to ensuring a more seamless execution and monitoring of the Bank's strategies. Mr. Al-Wazzan concluded, 'As we look to the future, we reaffirm our commitment to delivering exceptional banking products and services to our clients, partners, and community, as we continuine to actively contribute to shaping a sustainable and resilient future for the State of Kuwait.' Gulf Bank launched its 2030 Environmental, Social, and Governance (ESG) Strategy last year. The strategy outlines clear goals for implementing sustainability standards and measurable key performance indicators, leading to the adoption of selected initiatives that promote environmental sustainability, social responsibility, and corporate governance. This approach reflects the Bank's core values and serves as a guide across all aspects of its practices and banking operations. The strategy is built on four main pillars: Accountable Governance, Equitable Workforce, Empowered Community Engagement, and Responsible Banking. Key Achievements in 2024: Regulatory Framework for Sustainable Finance Formulation of sustainability-related policies Evaluation of initiatives from an ESG perspective Integration of climate and ESG risks Strengthened disclosure and reporting processes Development and execution of sustainability strategies
Saba Yemen
22-04-2025
- Business
- Saba Yemen
Kuwait stock exchange ends trading in red
Kuwait - Saba: The Kuwait Stock Exchange concluded its trading session on Tuesday with its general index registering a decline of 23.32 points, equivalent to a 0.30 percent decrease, settling at 7,850.45 points. The total trading volume for the day reached 452.3 million shares, executed through 27,090 spot transactions, with a total value of 112.8 million Kuwaiti dinars (approximately $345.16 million). Specifically, the main market index experienced a slight downturn of 5.87 points, or 0.08 percent, closing at 7,225.21 points. This was achieved through the trading of 312.8 million shares across 15,507 spot transactions, valued at 46.4 million Kuwaiti dinars (approximately $141.9 million). The Premier Market Index also saw a decrease, falling by 28.83 points, or 0.34 percent, to reach 8,394.24 points. Trading in this market involved 139.5 million shares exchanged in 11,583 transactions, with a total value of 66.3 million Kuwaiti dinars (approximately $202.8 million). Conversely, the Main 50 Index showed positive movement, rising by 67.3 points, or 0.95 percent, to close at 7,129.21 points. This index saw a trading volume of 256.7 million shares in 11,203 cash transactions, valued at 38.6 million Kuwaiti dinars (approximately $118.11 million). Whatsapp Telegram Email Print more of (Economy)
Arab Times
19-04-2025
- Business
- Arab Times
Seven Kuwaiti real estate titans shine on Forbes list
KUWAIT CITY, April 19: Forbes has named seven Kuwaitis among the most influential real estate leaders in the Middle East for 2025, reports Al-Seyassah daily. At the top of the list for Kuwaitis is the CEO of Mabanee Real Estate Company Waleed Khaled Alsharian, who ranked 27th overall on the list. Alsharian has led Mabanee since 2006, and under his leadership, the company, which has been listed on the Kuwait Stock Exchange since 1999, has completed notable projects such as The Avenues, Hilton Garden Inn, and Waldorf Astoria. In 2024, Mabanee's assets were valued at around $5.1 billion, generating revenues of $431.1 million. Vice Chairman and CEO of Kuwait Real Estate Company Talal Jassem Al-Bahar ranked second among Kuwaitis and 42nd overall on Forbes' list. Kuwait Real Estate Company was the first real estate firm to be listed on the Kuwait Stock Exchange in 1984. As of 2024, the company's assets were valued at $1.4 billion, with profits reaching $41.5 million. Vice Chairman and CEO of National Real Estate Company Faisal Jameel Al-Essa ranked third among Kuwaitis and 44th on the list. Al-Essa has led the company since 2018. In the first nine months of 2024, National Real Estate Company reported revenues of $56.8 million, with assets totaling $1.8 billion as of September 2024. CEO of Commercial Real Estate Company Abdulmutaleb Marafie ranked fourth among Kuwaitis and 51st overall on the Forbes' list. The company owns major projects in Kuwait, including the Al-Tijaria Tower and the Symphony Style Hotel and Complex. In 2024, Commercial Real Estate Company reported revenues of $101.6 million, with assets totaling $1.9 billion. CEO of Al-Salhiya Real Estate Company Abdulaziz Ghazi Alnafisi ranked fifth among Kuwaitis and 56th overall on the Forbes' list. Al-Nafisi took on his current role in 2022 after serving as Executive Vice President since 2006. As of March 2025, the company's total assets were valued at $1.7 billion, with a market capitalization of $780.2 million. Vice Chairman and CEO of Al- Argan International Real Estate Company Khalid Al-Mashaan ranked sixth among Kuwaitis and 81st overall on the Forbes' list. Al-Mashaan founded Al-Argan in 1994. As of 2024, the company's assets totaled $847.4 million, with profits reaching $6.9 million. Vice Chairman and CEO of Argan Kuwait Real Estate Company Abdulrahman Hamad Al-Terkait ranked seventh among Kuwaitis and 97th on the list. Al-Tikrit joined the company in 2016, and in 2024, Argan Kuwait Real Estate Company reported revenues of $29.5 million.
