Latest news with #Markaz
Kuwait Times
29-05-2025
- Business
- Kuwait Times
TEC begins work to develop major Jahra entertainment project
KUWAIT: Officials from the Touristic Enterprises Company (TEC) has signed a contract with the Kuwait Financial Centre (Markaz) pose for a photo. KUWAIT: The Touristic Enterprises Company (TEC) has signed a contract with the Kuwait Financial Centre (Markaz) to develop a major new entertainment and tourism project in Jahra, signaling a key step in enhancing the area's infrastructure and visitor experience. According to a press release issued Thursday, the project aims to become a vibrant destination that contributes to Kuwait's broader tourism development goals. Markaz will bring its investment and development expertise to ensure the project's financial and operational sustainability. The statement didn't provide further details about the nature of the project. Jahra has emerged as a key area of interest for entertainment investments in recent years. This includes the Jahra Waterfront Project, also known as 'Al-Corniche,' which was approved by the Municipal Council in October 2024. The waterfront development spans approximately 5,794 square meters and is expected to generate around 25,000 job opportunities, making it one of the most ambitious tourism infrastructure initiatives in the country. Acting CEO of TEC, Abdullah Al-Jaafar, stated that this collaboration is a strategic move within the company's ongoing efforts to establish impactful partnerships with leading institutions. '(The project) strengthens TEC's position as a leader in the tourism and entertainment sector in Kuwait,' he said. Al-Jaafar expressed hope that the agreement would deliver added value that positively reflects on the company's services, entertainment facilities, and visitor experience. Abdullatif Al-Nusif, Managing Director of Wealth Management and Business Development at Markaz, said that this cooperation aims to provide innovative investment solutions that contribute to the development of Kuwait's entertainment infrastructure in line with the state's vision to support the national economy. Al-Nusif added that this step is part of TEC's broader approach to leverage private sector expertise in developing and managing its projects according to the highest global standards. It also aligns with TEC's goals of diversifying revenue sources and offering high-quality experiences to visitors. — Agencies
Al Bawaba
28-05-2025
- Business
- Al Bawaba
Markaz hosts exclusive investor session on private credit trends and portfolio strategies
Kuwait Financial Centre 'Markaz' recently hosted an exclusive event for clients to hear insights into private markets and private credit from BlackRock, one of the world's largest investment management firms. Tailored for qualified and professional investors, the session formed part of Markaz's ongoing efforts to equip clients with timely market updates and access to global investment strategies. The event reflects Markaz's long-standing commitment to offering innovative, best-in-class investment solutions, while reinforcing the growing importance of private credit as a potentially resilient and strategic asset class in today's dynamic market session saw strong interest and participation from attendees, reflecting the rising demand among regional investors for differentiated and income-generating investment opportunities. The interactive dialogue helped address specific portfolio needs and reinforced the relevance of private credit in today's high-rate, uncertain on the event, Mr. Kashish Tandon, Executive Vice President, Investment Advisory at Markaz, said: 'We are proud to offer our clients, not just access to international markets, but also insights into new and alternative investment avenues that are shaping the global financial landscape. Events like these reflect our dedication to innovation and diversification, and we look forward to introducing more tailored solutions in the near future.'Sheikh Humoud S. Al Sabah, Senior Vice President, Investment Advisory at Markaz, stated: 'What makes this moment particularly significant is the timing, investors are rethinking their portfolio construction as traditional asset classes experience turbulence. Private credit stands out for its ability to provide attractive risk-adjusted returns with built-in structural protections. Over the past year, we've seen growing client appetite for strategies that combine yield, resilience, and diversification. Engagements with our partners, one of which is BlackRock, align with our focus on delivering intelligent exposure to global private markets, and it demonstrate how our 50-year legacy continues to evolve to meet the needs of today's investors.'Mr. Jean Christophe Rey, Managing Director, Head of EMEA Private Debt at BlackRock, shared his insights during the session, stating: 'We believe structural shifts in capital markets, driven by regulation, investor demand, and innovation, are accelerating the move toward more allocations to private markets. Private credit sits at the heart of this evolution. Its yield, duration, and downside protection make it a natural fit for long-term capital. BlackRock expects the global private debt market to exceed $4.5 trillion by 2030, supported by rising demand for bespoke financing and resilient income.'The discussion highlighted the continued strength and growing relevance of private credit in today's investment landscape. The talk pointed to record-low defaults and improved payment-in-kind (PIK) dynamics as indicators of strong borrower performance and disciplined underwriting. Despite ongoing volatility in public markets, private credit strategies have maintained relatively stable Net Asset Values (NAVs), underscoring the asset class's defensive nature. The ability to generate consistent, attractive yields, supported by strong structural protections and active portfolio management, positions private credit as a key component in modern diversified portfolios, offering resilience, income stability, and potentially downside protection amid economic uncertainty. With a 50-year legacy in asset management and investment banking, Markaz has consistently demonstrated its ability to adapt and innovate in response to evolving market dynamics. Its private credit portfolio, launched in 2024, reinforces Markaz's commitment to creating innovative investment solutions that offer access to international markets, diversification across asset classes, and risk-adjusted returns. By strengthening strategic relationships with global partners, Markaz enables its clients to access a wealth of knowledge and high-quality investment products.
Al Bawaba
12-05-2025
- Business
- Al Bawaba
Markaz records Total Revenue of KD 6.49 million for Q1-2025
Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for Q1-2025 with a Total Revenue of KD 6.49 million with an increase of 7%, as compared to KD 6.06 million in Q1-2024. The net profit attributable to shareholders of Markaz was KD 2.78 million, compared to KD 2.77 million in the same period last year, and earnings per share was 6 Fils for Q1-2025. Mr. Ali H. Khalil, Markaz's CEO, stated: 'Regional equity markets demonstrated resilience amidst global uncertainties. Although GCC equities posted a marginal 0.77% gain during the first quarter of 2025, the region outperformed global equities, which declined by 1.62%. Kuwait led the regional performance with a strong 9.85% return, which was underpinned by fiscal reforms, structural initiatives and positive momentum in the banking sector. Despite external challenges from global trade tensions, interest rate uncertainty and oil price volatility, the GCC region continues to maintain a stable foundation, anchored by economic diversification efforts and strategic investments in non-oil sectors. At Markaz, we remained disciplined and agile in navigating these dynamics, ensuring that our business fundamentals remained strong. We are optimistic about the outlook for the region, given easing financial conditions, sustained reform agendas and consistent domestic demand. Our focus continues to be on delivering sustainable value for our stakeholders through high quality execution, strategic growth and prudent risk management. Markaz's Asset Management fees for Q1-2025 were KD 1.67 million as compared to KD 1.69 million for the same period last year. Investment Banking and Advisory fees for Q1-2025 were KD 0.348 million as compared to KD 0.101 million for Q1-2024, reflecting an increase of 245%. This performance reflects the strength of our diversified platform and disciplined focus on consistent execution across business verticals. In asset management, our equity mutual funds continued to deliver stable returns amid heightened market volatility. MIDAF, Mumtaz and the Markaz Islamic Fund recorded returns of 5.02%, 5.28%, and 7.21% respectively, supported by prudent investment strategies and active portfolio management. The Forsa Financial Fund posted a return of 6.29% during the quarter. In investment banking, Markaz successfully executed key mandates, including the debut Kuwaiti Dinar-denominated bond issuance for a multilateral development bank, further strengthening our capital markets capabilities and client trust. The Advisory team is also working on several transactions including valuations and M&A. In real estate, our regional and international portfolios remained operationally strong, maintaining stable occupancy levels, steady rental yields and consistent collection ratios. We continue to focus on proactive asset management strategies while exploring new opportunities in private credit and development financing to diversify assets and enhance long-term returns. Looking ahead, we remain optimistic about the opportunities presented by favorable demographic trends, sustained infrastructure investments and continued economic diversification across the GCC. Markaz's focus remains on delivering differentiated investment solutions, expanding our advisory capabilities and maintaining strategic responsiveness to create sustainable long-term value.' Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz continued to strengthen its wealth management services during the first quarter of 2025. Assets Under Management (AUM) reached approximately KD 1.44 billion as of 31 March 2025, reflecting an increase of 11% compared to KD 1.30 billion in Q1 2024. This growth is underpinned by our disciplined execution and client-focused strategy. We continue to expand our offering across private markets, alternative investments and bespoke advisory services to meet the increasingly sophisticated needs of our clients. Digital initiatives are further enhancing the overall client experience and improving operational efficiencies. By reinforcing relationships with institutional and high net worth individual clients and aligning our solutions with market trends, Markaz is well-positioned to deliver superior investment outcomes and maintain its leadership position in wealth creation.'
Hans India
07-05-2025
- Politics
- Hans India
India's 'Operation Sindoor' dismantles Pakistan's terror infrastructure, razes jihad factories
New Delhi: Pakistan Army is backed by its Inter-Services Intelligence (ISI), which has been covertly supporting the activities of anti–India terrorist outfits, including Lashkar-e-Taiba (LeT), Jaish-e-Mohammad (JeM), Hizbul Mujahideen (HM), among others and has systematically coordinated financial, logistics, doctrinal and military support to these outfits including providing direct combat trainings. Post Financial Action Task Force (FATF) sanctions, Pakistan military has tried to a give a cosmetic makeover to terrorism in Jammu and Kashmir by giving new slick labels - such as The Resistance Front (TRF), People Anti-Fascist Front (PAFF), Kashmir Tiger (KT), etc., to designated terrorist organisations such as LeT and JeM. Rebranding of these terror outfits has been done to avoid wrath of the global terror watchdogs and to depict terrorism as a home-grown indigenous resistance. Pakistani military officers pay regular visits to training camps of these terror outfits to supervise terrorist training sessions. Terrorist groups such as LeT and JeM have been provided with infrastructure concealed in government facilities to carry out their operations in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK). Several training camps (Markaz), detachments and launch pads of these terror outfits are currently being run near army facilities, cantonments, Basic Health Units (BHU) and Primary Health Centers (PHC). Detachments such as Sarjal - Tehra Kalan (JeM), Mehmoona Joya - Sialkot (HM) are being operated in the campus of BHUs, providing necessary camouflage to activities of the terror groups. Terrorist groups have been provided with military grade communication equipment such as Long Range (LoRa)/Ultra Sets, Digital Mobile Radio (DMR), etc. to by-pass technical monitoring. Amongst various other methods, Pakistan military is also strengthening Pak-TSPs signal across International Border (IB) and Line of Control (LoC) in order to use spill over to aid infiltrated terrorists. Detachments such as Sarjal - Tehra Kalan, houses High-frequency (HF) communication set-up for planning and coordination with infiltrated terrorists. While detachments and launch pads are extensively used for staging arms training activities, religious indoctrination and other support activities such as funding, propaganda and expansion are being carried out with the backing of Pakistani establishment in larger facilities that are located well inside the country such as Markaz Taiba (LeT) in Muridke and Markaz Subhan Allah (JeM) in Bahawalpur. These Markaz not only serve as residences to major commanders of the outfits but also serve as epicentre for radicalization and various training courses on intelligence, arms handling, etc. Additionally, the commanders of terrorist groups have used these facilities (Markaz) to deliver anti-India rhetoric to masses in order to motivate the recruits for Jihad against India like the hate speech delivered by JeM chief Masood Azhar in December 2024 in Bahawalpur's Markaz Subhan Allah. Similarly, camps such as Markaz Abbas Kotli (JeM) and Markaz Ahle Hadith, Barnala (LeT) are being extensively used for indoctrination, scouting and as a base for planning terror activities including infiltration. In addition to providing logistics, financial support and operational bases to terror outfits, Pakistan army is strategically facilitating training of terrorists. Terrorists of LeT, JeM and Hizbul Mujahideen (HM) are being trained by Pakistan Special Services Group (SSG) in jungle/guerilla warfare. Camps and detachments such as Syedna Bilal (JeM), Shawai Nalla in Muzaffarabad (LeT) and Maskar Raheel Shahid Kotli (HM) have been extensively used to impart arms training and physical conditioning to cadres of the terror outfits under the aegis of Pakistani army and ISI. Here's a brief summary of some of the important terror facilities in Pakistan: Markaz Subhan Allah, Bahawalpur: Operational since 2015, Markaz Subhan Allah is the main centre of JeM for training and indoctrination and serves as the terror organisation's operational headquarter. It is associated with terrorist planning by JeM including the Pulwama attack on February 14, 2019. The Markaz consists of residences of JeM Chief Maulana Masood Azhar, de-facto Chief of JeM Mufti Abdul Rauf Asghar, Maulana Ammar and other family members of Masood Azhar. Masood Azhar has made several addresses from this facility extolling anti-India rhetoric and appealing to the youth to join Islamic Jihad. JeM conducts regular arms, physical and religious training for its cadres at Markaz Subhan Allah. Markaz Taiba, Muridke: Established in the year 2000, Markaz Taiba is the 'alma mater' and the most important training centre of LeT located in Nangal Sahdan, Muridke, Sheikhupura, Punjab province. The complex holds arms and physical training facility, as well as dawa'h and radicalisation/indoctrination for terror entities both from within Pakistan and abroad. This Markaz serves as a mushrooming ground for radicalisation of students to motivate them to join armed jihad. It can be compared to a terror factory. This Markaz enrols around 1000 students in different courses annually thereby highlighting the role of this Markaz in churning out terror entities for LeT annually. Osama Bin Laden had financed Rs 10 million for construction of a mosque and guest house within the Markaz Taiba complex. At the behest of Pakistan's ISI, all preparators of 26/11 Mumbai attack including Ajmal Kasab were imparted 'Daura-e-Ribbat' (intelligence training) at this facility. David Coleman Headley and Tahawwur Hussain Rana, the prime conspirators of 26/11 Mumbai attacks, had visited Muridke along with Abdul Rehman Sayed 'Pasha', Haroon and Khurram (co-conspirators) on instructions of Zaki-ur-Rehman Lakhvi. Sarjal Tehra Kalan: The Tehra Kalan Sarjal terror facility, located in the Shakargarh Tehsil of Narowal District in Punjab, is the main launching facility of JeM for infiltration of terrorists into Jammu and Kashmir. As part of concerted strategy of Pak-ISI to conceal terror infrastructure in government buildings, Sarjal facility is being operated from the premises of a Primary Health Centre (PHC) in Tehra Kalan Village of the area. This JeM facility holds special prominence due to its close proximity of around six kms from IB in Samba Sector of Jammu. This facility serves as the base for the digging of cross-border tunnels for infiltration of terrorists. It also serves as the launching base for drones by which arms/ammunition/narcotics and warlike stores are dropped into the Indian territory. JeM terrorists Mohammad Adnan Ali 'Doctor' and Kashif Jan regularly visit this facility and JeM de-facto chief Mufti Abdul Rauf Asghar supervises overall operations of this facility. This facility is actively being used by JeM to infiltrate terrorists and for smuggling arms and ammunition into India. Mehmoona Joya facility, Sialkot: As another example of Pak-ISI establishing terror facilities in government buildings, Mehmoona Joya facility of Hizbul Mujahideen is located in premises of Bhutta Kotli Government Basic Health Unit in Head Marala area of Sialkot District of Punjab. This facility is used for infiltration of Hizbul cadres into Jammu region of J&K. Hizbul Mujahideen cadres are also given training for terrorist operations and handling of weapons by the senior commanders at this facility. Mohd Irfan Khan 'Tanda', the commander of this HM facility, has been involved in carrying out several attacks in the Jammu region, especially in the capital city of Jammu. Around 20–25 terrorists are usually present at this facility at any point of time overseeing infiltration bids and terrorist operations in India. Markaz Ahle Hadith Barnala, Bhimber: Located on the outskirts of Barnala town on Kote Jamel road is prominent Markaz of LeT in PoJK Ahle Hadith, which is used for infiltration of LeT terrorists and arms/ammunition into Poonch, Rajouri-Reasi sector. This Markaz is also used as a staging centre for LeT terrorists before infiltrating into Indian territory. It can accommodate 100-150 cadres. LeT terror operatives Qasim Gujjar 'Mahrore', Qasim Khanda and Anas Jarar operate from this Markaz and reside in its vicinity. Operational commanders of LeT visit this Markaz for organising and supervising terrorist activities of LeT/Jamaat-ud-Dawa/Jammu & Kashmir United Movement. Markaz Abbas, Kotli: Markaz Saidna Hazrat Abbas Bin Abdul Mutalib (Markaz Abbas) is an important terror facility of JeM located in Kotli. Hafiz Abdul Shakoor Qari Zarrar, a 'Shura member' of JeM Council and close associate of JeM top commander Mufti Abdul Rauf Asghar, is head of this Markaz. Qari Zarrar is directly involved in planning and execution of terrorist attacks in J&K and is wanted by the National Investigation Agency (NIA) of India. Markaz Abbas can accommodate around 100-125 JeM cadres. JeM's terror activities, including infiltration of cadres from the Poonch–Rajouri sectors, are planned and executed from this facility. Maskar Raheel Shahid, Kotli: Maskar Raheel Shahid, located in Kotli District, PoJK, is one of the oldest facilities of Hizbul Mujahideen. It can accommodate around 150–200 terrorists. Hizbul terrorists visit this facility particularly for taking arms firing training and specialised physical training. In addition to providing conventional arms/physical training, this camp specialises in training cadres for BAT/sniping actions and fighting in hilly areas and survival training. Shawai Nallah camp, Muzaffarabad: Also known as Bait-ul-Mujahideen, Shawai Nallah camp is located near Chelabandi bridge on Muzaffarabad-Neelum Road in Muzaffarabad, PoJK. It is one of the most important camps of LeT. Attackers of 26/11 Mumbai attack including Ajmal Kasab had received terrorist training here. This camp is used for recruitment, registration and training of LeT cadres and has been functional since early 2000. It is used as base camp for imparting Daura-e-Aam training, which includes religious indoctrination, physical training, tactical training regarding use of GPS, map reading and arms training for rifles and grenades. Shawai Nallah camp is also used from time-to-time to organise specialised weapons training for LeT cadres. Pak-ISI also facilitates by providing trainers of Pakistani Army to provide weapons training to LeT terrorists. It is a large training camp which can accommodate 200-250 LeT cadres at a time. This camp is also used as a staging camp for LeT terrorists before infiltrating into Indian territory. LeT terrorists camping here are sent to launching facilities located opposite North Kashmir. Markaz Syedna Bilal: Markaz Syedna Bilal is the main centre of JeM in PoJK, located opposite the Red Fort in Muzaffarabad. This facility is used as a transit camp for JeM terrorists prior to their launching into J&K. At any point of time 50-100 cadres reside in this facility. JeM operational commander and JeM head of PoJK, Mufti Asghar Khan Kashmiri is in-charge of the facility. Abdullah Jehadi 'Kashmiri' and Aashiq Nengroo also operate from this centre. Commandos of Special Service Group (SSG) of Pak Army also impart training to JeM cadres at this facility.
Zawya
30-04-2025
- Business
- Zawya
Marmore – Gold Employer Award from the CFA Society India
Kuwait: Marmore MENA Intelligence, the research arm of Kuwait Financial Centre 'Markaz', was felicitated by the CFA Society India as a 'Gold Employer' under their 'Employer Recognition Program' on 25th April 2025 in Mumbai, India. Mr. M.R. Raghu, CEO of Marmore MENA Intelligence and the Economic Advisor for Markaz received the award at the event. Marmore was among 20 organizations recognized for collaborating with the CFA Institute and CFA Society India, after an evaluation of over 400 employers in India. Marmore is privileged to receive this prestigious award from the CFA Society India for the second consecutive year, having been awarded Silver Employer last year. Candidates who have already obtained the CFA Charter or in the process of appearing for their CFA Level II & III exams are a part of the Marmore team. Marmore is committed to the upskilling of its employees with employees benefiting from regular training sessions, mentorship opportunities, and knowledge-sharing platforms designed to keep them aligned with industry developments. Through the upskilling program, employees are eligible for reimbursement of fees paid for all three levels of the CFA (US) examination. The program also offers five days of study leave per level to support employees in preparing for and appearing in the exams. Furthermore, employees who have successfully completed all three levels and are members of the CFA Society are entitled to reimbursement of the annual CFA charter fees. Commenting on the win, Mr. M.R. Raghu, said: 'We would like to thank the CFA Institute and the CFA Society India for recognizing Marmore's role and collaboration with the CFA society. Receiving this accolade, and for the second consecutive year, is a testament to Marmore's pivotal role in fostering young talent and driving career development. We remain dedicated to strengthening this partnership in the future, particularly in talent acquisition, training, and internships.' Career advancement is actively encouraged, with a clear preference for internal talent development and leadership roles frequently filled from within. Marmore maintains a well-structured rewards and recognition framework that acknowledges individual and team achievements, reinforcing a culture of excellence and appreciation. Marmore fosters a positive and enriching work culture that places strong emphasis on continuous learning and professional development. The team of analysts engage with a diverse range of intellectually stimulating management consulting projects spread across key verticals, including capital markets, economic research, and industry analysis, enabling them to broaden their expertise and build a solution-oriented mindset. The organization strives to provide a collaborative environment that values open communication, cross-functional teamwork, and a strong sense of community, while also supporting a healthy work-life balance. 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 DepartmentKuwai t Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
