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Kuwait Times
6 days ago
- Business
- Kuwait Times
Mnakh launches first sustainability practices index for Kuwait market
Sustainability index reveals performance of listed companies KUWAIT: Mnakh Research and Studies Company has launched Kuwait's first index to measure sustainability practices in the local market, marking a significant step in evaluating the performance of listed companies on Boursa Kuwait based on environmental, social and governance (ESG) standards. The index serves as a launchpad to promote sustainable practices and align with global trends in responsible business. In a press release on Tuesday, Mnakh stated that this sustainability index aligns with the global shift towards a greener, more inclusive economy, and supports the goals of the New Kuwait 2035 vision. Sustainability, it added, represents a comprehensive vision for companies as they design and implement strategic plans. Investment opportunities The company emphasized that international markets now view sustainability as a driver of innovation and competitiveness, shifting from being merely a moral obligation to becoming a source of investment opportunities. Global best practices, including transparent reporting based on ESG standards, are now integral to investor decision-making. The Capital Markets Authority has required companies listed in the Premier Market to disclose annual sustainability reports, promoting fairness, competitiveness and transparency. These reports will be mandatory for the 2025 fiscal year, starting from 2026. Many Kuwaiti companies have already integrated sustainability into their investment decisions and operations, adopting initiatives to improve resource efficiency, promote social justice, address climate change, reduce greenhouse gas emissions and establish responsible business standards. Market demand for sustainability continues to grow in parallel with increasing awareness among investors and consumers. Mnakh noted that the sustainability index utilizes artificial intelligence to analyze corporate reports, offering accurate and transparent assessments of ESG performance. The index is based on a structured methodology using international standards and specific weighting for each sector according to its unique challenges and risks. Companies are rated across 12 categories, from AAA+ to D. 2023 index results According to Mnakh, the 2023 results show that most listed Kuwaiti companies meet the basic sustainability requirements. In the banking sector, National Bank of Kuwait topped the list with a score of 79.60 points (A+). In telecommunications, Zain led with 78.90 points (A+), while Boursa Kuwait ranked first in financial services with 81.90 points (AA). In real estate, Mabanee scored highest with 77.7 points (A+), while Agility led the industrial sector with 83.25 points (AA) — the highest score across all companies in Kuwait. In consumer goods, Jazeera Airways topped the sector with 72.63 points (A). Across ESG pillars, Zain ranked highest in environmental performance with 87.5 points, reflecting a strong commitment to sustainable environmental practices. In the social pillar, NBK, Agility and Boursa Kuwait all shared the top spot with 83 points, highlighting their robust social programs and attention to human capital and community engagement. Kuwait Finance House led the governance pillar with 84 points, indicating strong governance systems and corporate transparency. These results underscore Kuwaiti companies' growing ability to embed sustainability principles into their operations. Their rankings in ESG categories demonstrate that compliance with these standards has become a fundamental element of growth and competitiveness strategies. Mnakh's Sustainability Index is more than just an assessment tool — it acts as a catalyst for positive competition and a driver toward a sustainable economy. It offers a unified, data-driven framework for evaluating listed companies, moving beyond numerical rankings to foster a responsible competitive culture. The index encourages continuous improvement and adoption of sustainable practices in environment, society and governance.
Al Bawaba
17-04-2025
- Business
- Al Bawaba
Markaz Market Maker Desk Solidifies Leadership with Strong 2024 Performance
Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized companies. With a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.'Mr. Al-Otaibi added: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activity has helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.'With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial environment. Markaz's role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, and aids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange.
Arab Times
16-04-2025
- Business
- Arab Times
Markaz Market Maker Desk Solidifies Leadership with Strong 2024 Performance
KUWAIT CITY, Apr 16: Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market makers. Throughout 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio companies. Backed by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading environment. Mr. Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.' Mr. Al-Otaibiadded: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activityhas helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.' With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, andaids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange.
Zawya
16-04-2025
- Business
- Zawya
Markaz Market Maker Desk solidifies leadership with strong 2024 performance
Kuwait: Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized companies. With a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market makers. Throughout 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio companies. Backed by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading environment. Mr. Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.' Mr. Al-Otaibi added: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activity has helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.' With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial environment. Markaz's role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, and aids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange. 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.
Asharq Al-Awsat
07-04-2025
- Business
- Asharq Al-Awsat
Gulf Stock Markets Plunge Sharply Following Wall Street Slump
Gulf financial markets suffered significant losses on Sunday, tracking sharp declines on Wall Street last Friday after US President Donald Trump announced new reciprocal tariffs on countries with which the US maintains trade relations. The Saudi stock market posted the steepest drop among the Gulf states, closing down 6.8%. It was followed by Kuwait's Premier Market, which fell 5.7%, Qatar's market down 4.2%, Muscat down 2.6%, and Bahrain posting the smallest drop at 1%. The Abu Dhabi and Dubai exchanges were closed Sunday, though they had ended the previous week in the red, erasing all gains since the beginning of the year. Trump had announced a minimum 10% tariff on Gulf countries, among others. The S&P 500 shed nearly $5 trillion in value over two days, marking its worst performance since March 2020, with a sharp 6% drop on Friday alone. The Nasdaq 100 officially entered a bear market, down more than 20% from its recent peak. Mohammed Al-Maimouni, a financial advisor at Al-Mutadawil Al-Arabi, told Asharq Al-Awsat that two main factors triggered the sell-off: first, Trump's tariffs sparked a downturn in US markets, which rippled through global and Gulf markets. China's retaliatory tariffs further compounded the impact. Second, oil prices fell below $70 per barrel, weighing on energy stocks. Al-Maimouni added that markets and economies are gripped by uncertainty over the tariffs' long-term effects. 'I expect continued volatility next week as investors adjust to the new reality,' he said. Amid global economic tensions, Saudi Arabia's Tadawul index dropped to its lowest level since December 2023, marking its worst daily loss since May 2020. The TASI index plunged 6.7% to close at 11,078 points, a drop of 804 points, with banking, energy, and utilities sectors leading the fall. Blue-chip stocks were particularly affected. Aramco shares dropped 5.25% to SAR 24.92, Al Rajhi Bank declined 5.9% to SAR 94.70, and Saudi National Bank fell 6.82% to SAR 32.80. Aramco's market capitalization dropped to around SAR 6 trillion ($1.6 trillion), down from SAR 6.4 trillion at the time of its 2019 IPO—a 7% decrease. Since the start of the year, Aramco shares have lost roughly 12% amid growing pressure on energy stocks and falling oil prices amid fears of weakening global demand. Al-Maimouni said the sharp sell-off was driven by local investors offloading their holdings, particularly in key banking stocks. 'Aramco also breached a key support level at SAR 25, amplifying the losses,' he explained. Broad Losses Across Gulf and Egypt Kuwait's Premier Market tumbled 5.7% to 8,106.1 points. Leading stocks took the brunt of the hit, with Kuwait Finance House down 5.5%, National Bank of Kuwait falling 7%, Gulf Bank losing 5%, and Boubyan Bank shedding 6.1%. In Muscat, the market declined by 2.6%, while Qatar's exchange dropped 4.2%, led by Qatar Industries, which plunged 8.2%. Bahrain's bourse saw the mildest decline at 1%. In Egypt, the stock market experienced its worst drop since April 2024. The main index closed down 3.34%, with the market losing EGP 80 billion
