Latest news with #KuwaitStockExchange
Morocco World
a day ago
- Business
- Morocco World
Modern Urban Living Comes to Casablanca with ALARGAN's New Development
Rabat – With Bernard Khoury's visionary touch and ALARGAN's proven development expertise, the vibrant city of Casablanca is set to witness the birth of a new benchmark for urban living. ALARGAN was founded in 1994 and has grown from a family business into a mature real estate developer active across the Middle East and North Africa. Today, ALARGAN is listed on the Kuwait Stock Exchange (since 2007) and has delivered projects in Kuwait, Oman, Bahrain, and Morocco. It brings together architectural design, construction, property management, project management, and sales and marketing under one roof, ensuring that every development meets high standards from start to finish. Over time, the company has also branched out into hospitality, health and fitness, education, and healthcare. This spirit of steady growth and innovation is captured in ALARGAN's motto, 'La vie… comme vous l'aimez !' ('Life… the way you love it!'), which guides the creation of spaces where living, working, and having fun blend seamlessly. Behind many of ALARGAN's most forward-thinking projects stands architect Bernard Khoury's decades of experience and reputation for world-class, innovative design. Khoury brings a clear vision to each building he touches. His work's focus goes beyond how a structure looks, and also includes how it fits into its neighborhood, how people move through it, and how it will adapt over time. When you see a Bernard Khoury design, you sense that every angle, every material choice, and every open space was chosen to spark curiosity and enhance daily life. A new urban destination in Casablanca The new mixed-use development in Casablanca is a perfect example of ALARGAN's commitment to creating places where people truly want to be. This project offers fully furnished studios designed for professionals to combine comfort and style. They are a prime business opportunity in Casablanca, with the first phase slated for delivery in July 2025. As Morocco prepares to host major events, like the Africa Cup of Nations (AFCON) later this year and the World Cup in 2030, these studios promise strong rental demand and solid investment potential. In addition, urban living apartments cater to those who wish to settle down or work remotely, as they provide flexible layouts, modern finishes, and plenty of natural light. Entrepreneurs and small businesses will also find rental offices outfitted with all essentials, ready for move-in from day one. Inside the development, residents and tenants will find the very first Mama Shelter in Africa, a hotel brand known for its warm, friendly vibe and vibrant public spaces. For those looking for fitness and relaxation, there's a state-of-the-art gym and the longest rooftop pool in Casablanca offering sweeping city views. A location that has it all Studio residents even have access to two private swimming pools, so they can swim, unwind, or host small gatherings without leaving home. A separate ground-level pool adds to the leisure options. Safety and convenience come together thanks to 24-hour security and a selection of shops and restaurants opening right inside the building. Imagine grabbing a coffee on your way to the office, meeting a friend for lunch just downstairs, or winding down with a healthy meal before heading home. Location is everything, and this development shines in that regard. It sits within easy reach of the fashionable Maarif district, where boutiques and cafés line the streets. It's also just minutes from the main stadium, soon to host big games, concerts, and shows, so you're always close to the action. If you prefer the sea breeze, the beachfront promenade is only a five-minute drive away, perfect for evening walks or weekend runs. ALARGAN's approach has always been about combining high-quality design with lasting value. The company was the first in Kuwait to earn LEED certification from the U.S. Green Building Council, which reflects its commitment to sustainable, energy-efficient design. By choosing moderate investment strategies, ALARGAN looks for opportunities that deliver steady, reliable returns through different market cycles. This project in Casablanca builds on that track record: it's crafted to meet global sustainability standards while offering an attractive mix of living, working, and leisure spaces. To support the success of this ambitious project, ALARGAN has entrusted the commercial aspect to Chestertons , a global real estate leader known for its strong market insight and international reach. Tags: CasablancaSaray casablancaurban living
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
Gulf stock markets tumble amid Israel-Iran escalation
Saudi Gazette report RIYADH — Financial markets across the Arabian Gulf and Egypt plunged sharply on Sunday, as escalating military tensions between Israel and Iran triggered widespread selloffs and heightened volatility across the region's stock exchanges. The downturn followed a weekend of intensified hostilities, with both sides exchanging airstrikes since Friday, rattling investor confidence and driving oil prices up nearly 7% by the close of trading on Friday. In Saudi Arabia, the Tadawul All Share Index (TASI) opened down by around 3%, before recovering slightly to close 1.81% lower at 10,647 points. Trading volumes exceeded SR2 billion. Despite the overall market drop, shares in Saudi Aramco rose 1.76%, buoyed by the oil price surge, peaking at SR25.50 on a trading value of more than SR357 million. The Kuwait Stock Exchange experienced the steepest losses, initially falling by 5%, which triggered a temporary trading ended the session down 3.9% at 8,507 points, shedding 348 points. Total trading exceeded 446 million shares, valued at KWD 127.7 stock market suffered one of its worst single-day losses in recent benchmark EGX 30 index fell 6.26% to 30,475 points, while market capitalization lost more than EGP 120 billion within the first 15 minutes of trading, as a wave of panic selling swept the Qatar Stock Exchange index also dropped 2.8% to 10,334 points, and the Muscat Securities Market slid 1.8% to 4,461 points. The Bahrain Bourse recorded a milder decline of 0.7%.
Saba Yemen
28-05-2025
- 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
