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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)
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)
Al Bawaba
23-02-2025
- Business
- Al Bawaba
Markaz records Total Revenue of KD 20.31 million for 2024
Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for 2024 with a Total Revenue of KD 20.31 million with a decrease of 23%, as compared to KD 26.32 million in 2023. The net profit attributable to shareholders of Markaz was KD 4.46 million, compared to KD 4.15 million in the same period last year, and earnings per share was 9 Fils for the year ended 31 December 2024. The Board of Directors has recommended a dividend of 7 fils per share (Subject to the AGM approval). Mr. Diraar Yusuf Alghanim, Chairman at Markaz stated: In 2024, GCC economies showed resilience, with the MSCI GCC Countries Domestic Index up 5.9%. Kuwait outperformed with the All Share Index rising 8.0% and the Main 50 Index soaring 24%, driven by strong investor interest in mid-cap and small-cap stocks. Oil prices contributed to regional fiscal stability, while governments policies and investments have focused on economic diversification. The GCC average projected real GDP growth for 2024 is 1.4%, driven by economic diversification and infrastructure investments. The global economic environment in 2024 presented a blend of opportunities and challenges. Global GDP growth is projected at 3.2%, bolstered by easing inflation in developed economies. Emerging markets benefited from gradual improvements in supply chains and labor markets. However, geopolitical uncertainties and tariff-driven measures pose significant risks to sustained growth. Looking ahead, we are optimistic about the region's prospects and our capacity to capitalize on growth opportunities and deliver enduring value for our stakeholders.' Mr. Ali H. Khalil, Markaz's CEO, stated: 'Markaz's Asset Management fees for 2024 were KD 8.73 million as compared to KD 7.17 million for the previous year. Investment Banking and Advisory fees for 2024 were KD 1.08 million as compared to KD 0.84 million for 2023, an increase of 29%. The year 2024 held special significance as we celebrated our 50th anniversary, a testament to decades of sustained growth through innovation and trust. Understanding that our clients' success is tied to our own, we prioritize enhancing the client experience to reinforce our market leadership. Our equities team capitalized on these opportunities across multiple funds and portfolios; our equity mutual funds MIDAF and Forsa Funds outperformed the benchmarks. Markaz's real estate investments in the GCC region are characterized by operational efficiency, leading to optimal rental rates, high occupancy and collection ratios. These factors have significantly contributed to the income and returns of the Markaz Real Estate Fund (MREF) and the Markaz Gulf Real Estate Fund (MGREF), a private placement fund. Our international real estate portfolio has performed well despite expanding capitalization rates and higher-than-expected interest rates. We have successfully sold projects in Europe and the United States. Markaz is now focusing on high-potential opportunities under the current market conditions, including leveraged senior debt in multifamily and industrial development projects in the U.S. and Europe. The investment banking team demonstrated its innovative capabilities by successfully executing a KD 100 million bond program for the Commercial Bank of Kuwait and introducing the region's first KD-denominated convertible bond. Advisory services, including M&A, restructuring strategies, and feasibility studies, addressed complex financial structures for corporations and family-owned businesses. By focusing on creating long-term value, we aim to align our strategies with market dynamics and client needs, providing consistent growth and meaningful outcomes.' Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz Assets Under Management (AUM) increased by 16 % to reach KD 1.41 billion as of December 31, 2024. Despite market complexities, our strategic role as investment advisors enabled us to seize market opportunities effectively, as exemplified in our continued ventures into Private Equity, Private Credit, and Local Fixed Income in secondary markets. We strengthened relationships with leading local and regional institutions while expanding our client base. All these efforts led to Markaz being recognized by reputable organizations including Global Finance, EMEA finance, Euromoney, and MENA Banking Excellence, and winning (9) prestigious awards in asset management, investment banking, real estate, digital solutions, and innovation. Our goal is to provide our clients with the best innovative investment solutions that achieve their financial objectives, and we are committed to delivering high-end value.'
Zawya
22-02-2025
- Business
- Zawya
Markaz records total revenue of KD 20.31mln for 2024
Kuwait - Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for 2024 with a Total Revenue of KD 20.31 million with a decrease of 23%, as compared to KD 26.32 million in 2023. The net profit attributable to shareholders of Markaz was KD 4.46 million, compared to KD 4.15 million in the same period last year, and earnings per share was 9 Fils for the year ended 31 December 2024. The Board of Directors has recommended a dividend of 7 fils per share (Subject to the AGM approval). Mr. Diraar Yusuf Alghanim, Chairman at Markaz stated: In 2024, GCC economies showed resilience, with the MSCI GCC Countries Domestic Index up 5.9%. Kuwait outperformed with the All Share Index rising 8.0% and the Main 50 Index soaring 24%, driven by strong investor interest in mid-cap and small-cap stocks. Oil prices contributed to regional fiscal stability, while governments policies and investments have focused on economic diversification. The GCC average projected real GDP growth for 2024 is 1.4%, driven by economic diversification and infrastructure investments. The global economic environment in 2024 presented a blend of opportunities and challenges. Global GDP growth is projected at 3.2%, bolstered by easing inflation in developed economies. Emerging markets benefited from gradual improvements in supply chains and labor markets. However, geopolitical uncertainties and tariff-driven measures pose significant risks to sustained growth. Looking ahead, we are optimistic about the region's prospects and our capacity to capitalize on growth opportunities and deliver enduring value for our stakeholders.' Mr. Ali H. Khalil, Markaz's CEO, stated: 'Markaz's Asset Management fees for 2024 were KD 8.73 million as compared to KD 7.17 million for the previous year. Investment Banking and Advisory fees for 2024 were KD 1.08 million as compared to KD 0.84 million for 2023, an increase of 29%. The year 2024 held special significance as we celebrated our 50th anniversary, a testament to decades of sustained growth through innovation and trust. Understanding that our clients' success is tied to our own, we prioritize enhancing the client experience to reinforce our market leadership. Our equities team capitalized on these opportunities across multiple funds and portfolios; our equity mutual funds MIDAF and Forsa Funds outperformed the benchmarks. Markaz's real estate investments in the GCC region are characterized by operational efficiency, leading to optimal rental rates, high occupancy and collection ratios. These factors have significantly contributed to the income and returns of the Markaz Real Estate Fund (MREF) and the Markaz Gulf Real Estate Fund (MGREF), a private placement fund. Our international real estate portfolio has performed well despite expanding capitalization rates and higher-than-expected interest rates. We have successfully sold projects in Europe and the United States. Markaz is now focusing on high-potential opportunities under the current market conditions, including leveraged senior debt in multifamily and industrial development projects in the U.S. and Europe. The investment banking team demonstrated its innovative capabilities by successfully executing a KD 100 million bond program for the Commercial Bank of Kuwait and introducing the region's first KD-denominated convertible bond. Advisory services, including M&A, restructuring strategies, and feasibility studies, addressed complex financial structures for corporations and family-owned businesses. By focusing on creating long-term value, we aim to align our strategies with market dynamics and client needs, providing consistent growth and meaningful outcomes.' Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz Assets Under Management (AUM) increased by 16 % to reach KD 1.41 billion as of December 31, 2024. Despite market complexities, our strategic role as investment advisors enabled us to seize market opportunities effectively, as exemplified in our continued ventures into Private Equity, Private Credit, and Local Fixed Income in secondary markets. We strengthened relationships with leading local and regional institutions while expanding our client base. All these efforts led to Markaz being recognized by reputable organizations including Global Finance, EMEA finance, Euromoney, and MENA Banking Excellence, and winning (9) prestigious awards in asset management, investment banking, real estate, digital solutions, and innovation. Our goal is to provide our clients with the best innovative investment solutions that achieve their financial objectives, and we are committed to delivering high-end value.' About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.41 billion (USD 4.57 billion) as of 31 December 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz. For further information, please contact: Sondos Saad Corporate Communications Department Kuwait Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
Saba Yemen
11-02-2025
- Business
- Saba Yemen
Kuwait stock exchange ends trading on positive note
Kuwait - Saba: The Kuwait Stock Exchange concluded trading on Tuesday with a rise in its general index by 15.23 points, or 0.19%, reaching 7959.41 points. A total of 575.8 million shares were traded across 24,678 transactions, with a value of 118.5 million Kuwaiti dinars (approximately 364.9 million US dollars). The Main Market Index increased by 7.80 points, or 0.11%, to 7417.62 points, with 415.3 million shares traded through 16,030 transactions, valued at 59.15 million dinars (around 182.18 million dollars). The Premier Market Index saw a rise of 17.85 points, or 0.21%, closing at 8487.60 points, with 160.5 million shares traded through 8,648 transactions, worth 59.4 million dinars (approximately 182.9 million dollars). Meanwhile, the Main 50 Index grew by 47.35 points, or 0.64%, reaching 7490.65 points, with 323.3 million shares traded across 10,832 transactions, valued at 48.7 million dinars (about 149.9 million dollars). Whatsapp Telegram Email Print more of (Economy)
