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Markaz records Total Revenue of KD 14.45 million for H1-2025

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KUWAIT CITY, Aug 06: Kuwait Financial Centre “Markaz” (KSE: Markaz, Reuters: MARKZ.KW, ‎Bloomberg: MARKAZ: KK) reported its financial results for H1-2025with a Total Revenue of KD ‎‎14.45million with an increase of 65%, as compared to KD 8.76million in H1-2024. The net profit ‎attributable to shareholders of Markaz was KD 6.41million, compared toKD1.79million in the same ‎period last year, and earnings per share was 13Fils for H1-2025.‎

Mr. Diraar Yusuf Alghanim, Markaz’s Chairman, stated: “Kuwait demonstrated robust ‎performance during the second quarter of 2025, with non-oil GDP growth estimated at around ‎‎2.5%, supported by steady expansion in real estate, manufacturing, and hospitality, while inflation ‎remained contained near 2.3% alongside a private sector PMI of 53.9 in May. Across the GCC, ‎economic prospects were reinforced by ongoing diversification initiatives and rising credit activity ‎in the UAE, which helped sustain regional growth. Regional oil revenues also benefited from ‎periodic price increases amid geopolitical tensions, supporting fiscal balances. On the global front, ‎the IMF revised growth expectations downward due to weaker demand and continued geopolitical ‎friction, although oil market movements offered some support to regional fiscal positions. In ‎recognition of its institutional strength and innovative investment capabilities during this period, ‎Markaz was honoured with five prestigious awards from EMEA Finance, Euromoney, and MEED.We ‎remain positive on the region’s outlook, supported by improving financial conditions, ongoing ‎structural reforms, and steady demand trends. Our priority continues to be the creation of long-‎term value for our stakeholders through disciplined execution, strategic growth, and prudent risk ‎management.‎

Mr. Ali H. Khalil, Markaz’s CEO, stated: Markaz’s Asset Management fees for H1-2025 were KD ‎‎3.94million as compared to KD 3.46million for the same period last year, reflecting an increase of ‎‎14%. Investment Banking and Advisory fees for H1-2025 were KD 0.52million as compared to KD ‎‎0.63million for H1-2024. This performance reflects the strength of our diversified portfolios and ‎disciplined focus on consistent execution across business verticals.‎

h1In asset management, our equity mutual funds continued to deliver stable returns amid heightened ‎market volatility. MIDAF, Mumtaz, the Markaz Islamic Fund, and Forsa recorded returns of 8.65%, ‎‎10.45%, 18.05%, and 12.31% respectively, supported by prudent investment strategies and active ‎portfolio management. ‎

Within investment banking, Markaz continues to reinforce its capital markets expertise and deepen ‎long-term client relationships. The team maintains a robust transaction pipeline, with multiple ‎active M&A mandates currently underway.‎

Our regional and international real estate investments have remained resilient, supported by stable ‎occupancy levels, reliable rental income, and steady collection rates. During the year, Markaz ‎exited industrial real estate projects exceeding USD 100 million in the US and Europe, highlighting ‎its disciplined investment approach, partnerships, and leadership in global real estate and credit ‎strategies. Markaz also released the first annual report for its Shariah-compliant Markaz Real ‎Estate Fund (MREF), strengthening transparency and highlighting its market leadership.‎

Favorable demographic dynamics, sustained infrastructure spending, and broader economic ‎diversification across the GCC continue to create attractive opportunities. Markaz is focused on ‎providing differentiated investment offerings and maintaining strategic agility to deliver long-term ‎value for stakeholders.‎

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 second quarter of 2025. Assets Under Management (AUM) reached approximately KD ‎‎1.56billion as of 30June 2025, reflecting an [increase] of 13.14% compared to KD 1.38billion in Q2 ‎‎2024. This growth is underpinned by our disciplined execution and client-focused strategy.In May ‎‎2025, Markaz successfully engaged professional and qualified investors through an exclusive ‎private markets event with BlackRock, strengthening client access to global strategies and ‎highlighting private credit as a strategic income-focused asset class.‎

Expanding capabilities across private markets, alternative assets, and tailored advisory services ‎remains central to addressing clients’ evolving requirements. Enhanced digital initiatives continue ‎to strengthen the client experience and drive greater efficiency. Supported by strong relationships ‎with institutional and high net worth clients, and solutions aligned with market dynamics, Markaz is ‎positioned to deliver consistent investment outcomes and uphold its leadership in wealth creation.‎

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Kuwait-China ministerial committee advances key development projects

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His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah chaired a meeting of the Ministerial Committee at Bayan Palace on Thursday to follow up on the implementation status of agreements and memoranda of understanding signed between the governments of the State of Kuwait and the friendly People’s Republic of China.

KUWAIT CITY, Sept 18: His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah chaired Thursday, at Bayan Palace, the 27th ministerial committee meeting to follow up on the implementation of agreements and memoranda of understanding signed between Kuwait and China. The meeting reviewed the latest progress in executing developmental projects included in the MoUs, especially cooperation in Mubarak Al-Kabeer Port, electricity systems, renewable energy, low-carbon recycling, housing, environmental infrastructure, free zones, and economic zones.

The meeting examined the outcomes of Chinese delegations’ visits this month, regarding cooperation between Kuwait and Chinese companies in environmental fields, afforestation, combating desertification, and ensuring effective collaboration to implement the agreed development initiatives efficiently and sustainably. His Highness directed committee members to ensure the strict implementation of signed agreements with major Chinese government companies, emphasizing adherence to strategic plans to achieve the intended results within the specified timeframes, ensuring proper execution of all projects. Assistant Foreign Minister for Asian Affairs, committee member and rapporteur Samih Jawhar Hayat, stated that the meeting discussed major development projects, reviewed upcoming Chinese delegations’ agendas, and highlighted that the Chinese state company will begin phases three and four of renewable energy projects, emphasizing Kuwait’s commitment to advancing joint initiatives and strengthening bilateral cooperation.

The meeting was attended by Head of the Prime Minister’s Office Abdulaziz Al-Dakheel, Minister of Public Works Noura Al-Mashaan, Minister of State for Municipality Affairs and Housing Abdullatif Al-Mishari, Minister of Electricity, Water and Renewable Energy and Minister of Finance and Acting Minister of State for Economic and Investment Affairs Sabeeh Al- Mukhaizem, Director General of the Direct Investment Promotion Authority Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Head of Fatwa and Legislation Office Salah Al-Majid, Undersecretary of the Ministry of Defense Abdullah Al-Sabah, and Assistant Foreign Minister for Asian Affairs and Member and Rapporteur of the Ministerial Committee Samih Jawhar Hayat.(KUNA)

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Kuwait Oil Company begins commercial production at the Mitribah field

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Kuwait Oil Company begins commercial production at the Mitribah field

Kuwait Oil Company CEO Ahmad Al-Eidan delivers his speech

KUWAIT CITY, Sept 18:  Kuwait Oil Company (KOC) has officially begun commercial production at the Mitribah oil field in northwestern Kuwait, CEO Ahmad Al‑Eidan announced Thursday, marking a major milestone in the company’s strategic expansion.

Al‑Eidan, speaking at a ceremony in Ahmadi City under the patronage of Oil Minister Tareq Al‑Roumi, described the launch as more than just completing a project. He called it “a living testimony” to the determination, innovation, and cooperative spirit within KOC.

He said Mitribah now joins KOC’s productive assets, giving “a strong push” to the company’s strategic path. Reflecting on his own history with the field, Al‑Eidan recalled his early work in the 1990s as a geologist in KOC’s exploration group, witnessing its development through many years.

Al‑Eidan explained that the milestone comes at a pivotal moment for KOC, which recently undertook a major organizational restructuring designed to enhance efficiency, sharpen its vision, and boost momentum across all its sectors. A key outcome of that reorganisation is the formation of the “New Exploration Group,” aimed at accelerating the process from exploration to production—especially in complex or unconventional reservoirs.

He pointed out that Mitribah is the first major achievement under this new structure. Institutional support and a clear strategic vision, he said, helped reduce project timelines, mitigate risks, and strengthen Kuwait’s position in global oil production.

Al‑Eidan praised the work of specialized geologists, engineers, planners, operators, and technical support staff. He also acknowledged the role of partners and contractors, whose cooperation and commitment he said were essential to overcoming infrastructure challenges and deploying advanced technologies efficiently.

He added that this achievement is not the end but the start of a more ambitious journey. He called on all involved to maintain momentum, continue adopting the latest technical solutions, and foster a culture of innovation and excellence, united by a strong sense of responsibility and teamwork.

Commercial output from Mitribah officially began on June 15, 2025, after connecting several wells to KOC’s production facilities. The field, located in a previously undeveloped stretch in northwest Kuwait, covers more than 230 square kilometres and lies outside the area of fields already operated by the company. Light oil with commercial viability was first discovered there in 2009. One of the major technical challenges was managing hydrogen sulfide gas concentrations of up to 40 percent, which contributed to delays in production start‑up.

The CEO of Kuwait Oil Company presents commemorative gifts to the Minister of Oil.

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US-Arab Chamber of Commerce names Kuwaiti Al-Mudhaf as new Director of External Affairs

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US-Arab Chamber of Commerce names Kuwaiti Al-Mudhaf as new Director of External Affairs

Kuwaiti Fawaz Al-Mudhaf appointed director of External Affairs at US-Arab Chamber of Commerce

WASHINGTON, Sept 18:  The US-Arab Chamber of Commerce has appointed Kuwaiti national Fawaz Al-Mudhaf as its new Director of External Affairs, in a strategic move aimed at deepening US-Arab economic ties and empowering emerging regional talent.

The announcement, made on Wednesday, reflects the Chamber’s broader vision to enhance cross-border cooperation and nurture young leaders capable of navigating the evolving landscape of global trade and diplomacy.

“This appointment embodies the Chamber’s commitment to developing regional talent that contributes to and enhances cross-border cooperation,” the Chamber stated in a press release. It added that the selection of Al-Mudhaf aligns with the organization’s goal of equipping emerging leaders to adapt to rapid transformations in US-Arab economic and diplomatic relations.

Al-Mudhaf is expected to spearhead the Chamber’s external affairs strategy, focusing on strengthening relations with decision-makers, global companies, and major institutions in both the United States and the Arab world. His leadership will be crucial at a time of shifting global alliances, new trade priorities, and the increasing need for international collaboration.

Expressing gratitude for the appointment, Al-Mudhaf said the role is “both an honor and a responsibility.” He emphasized that the US-Arab Chamber of Commerce is “more than just a business platform,” calling it “a trusted forum for dialogue, mutual respect, and opportunities for joint cooperation that strengthen ties between peoples.”

He affirmed his commitment to the Chamber’s mission, pledging to serve “with all sincerity” and to help consolidate US-Arab partnerships at a time when, he noted, “international communication has become more urgent than ever.”

Chamber President and CEO David Hamod praised Al-Mudhaf’s appointment, stating, “We are extremely proud of Fawaz, who is a fundamental pillar of the Chamber’s team. He is a fine example of a young Kuwaiti who is leaving an influential mark on the international scene.” Hamod added that Al-Mudhaf’s contributions are a “fundamental pillar in the Chamber’s success story.”

The US-Arab Chamber of Commerce, established over 50 years ago, is widely recognized as the oldest American organization dedicated to advancing US-Arab trade. It is often described as the “first commercial gateway” to the Middle East and North Africa for the United States.

As an independent, membership-based organization, the Chamber boasts over 50 members and partners and is the only American trade body officially recognized by both the League of Arab States and the Union of Arab Chambers. It continues to serve as a preeminent voice for American business interests in the Arab world, working to strengthen economic partnerships across the region.

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