Latest news with #KuwaitMarket
Zawya
03-07-2025
- Business
- Zawya
XS.com celebrates official launch of its new office in Kuwait
the global FinTech and financial services provider, has officially launched its brand in Kuwait with the opening of its first office in Kuwait City. This milestone was achieved in strategic partnership with 'NVEST', a subsidiary of 'Construction Group' and 'Al Wataniya Group', both key players in the energy, real estate, and infrastructure sectors. The partnership is represented by Chairman Sheikh Rakan Badr Muhammad Al-Sabah, CEO Eng. Jamal Al-Sabah, and CEO Eng. Tamer Al-Natour. The strategic partnership was announced at a press conference held on Tuesday, July 1, at the Four Seasons Hotel in Kuwait City. The event was attended by high-ranking figures from the honorable Al-Sabah family, leading financial and business experts, and representatives from various print, audio, and visual media outlets. Speakers at the event emphasized the significance of this collaboration in supporting the national economy and strengthening Kuwait's position on the global business and technology map. They highlighted the importance of encouraging strategic initiatives that contribute to sustainable development and economic diversification. The event also included the signing of a strategic partnership agreement between and NVEST, marking the official entry of the global brand into the Kuwaiti market. This strategic move is a major milestone for granting the global multi-asset broker a newly licensed entity in Kuwait under the name 'XS Online'. During the launch ceremony of the global brand in Kuwait, Sheikh Rakan Bader Mohammed Al-Sabah, Chairman of 'Construction Group' and 'Al Wataniya Group', praised the partnership with noting that it stems from a deep belief in the importance of developing the financial investment sector in Kuwait and providing world-class services that meet the trust of investors. In his speech during the launch, Sheikh Rakan Al-Sabah emphasized that achieving financial sustainability through the adoption of modern technologies, such as artificial intelligence, is one of the core pillars of the 'New Kuwait 2035' vision. He further stated that the strategic partnership with supports this national direction. He concluded by stating that the opening of "XS Kuwait" marks the strongest launch for the global XS Group at the regional level, as the company will expand its operations in the Gulf region starting from Kuwait. He also revealed a future plan to open new branches of XS in other major Gulf capitals. For his part, Mr. Mohamad Ibrahim, Group CEO of stated: "This partnership goes beyond an office opening; it's a strategic initiative aimed at deepening our engagement with the Arab region. The Kuwaiti market is vibrant, dynamic, and forward-looking. Our presence here enables us to stay closer to our clients, respond more quickly to market needs, and strengthen our brand across the GCC." From his side, Eng. Jamal Al-Sabah, CEO of NVEST, expressed his satisfaction with the strategic partnership with the globally leading financial services company He confirmed that the Kuwaiti financial market enjoys many attractive advantages that make it an ideal and welcoming environment for international brands. He added that this partnership will serve as a solid foundation for the launch of XS Kuwait's operational activities, which will focus on building a robust regulatory framework, protecting investors and companies, and driving the creation of effective and serious partnerships, especially in the fintech sector, which represents the gateway to the future. The office in Kuwait will serve as a key hub for customer support and market development, reinforcing the group's presence across the GCC. With the growth of fintech in Kuwait and increasing demand for advanced financial services, this expansion reflects long-term commitment to building strong local partnerships and providing tailored experiences for regional investors and traders. continues to set new standards in global financial market trading by delivering an advanced trading environment supported by world-class technology and customer service. The Kuwait office will play a pivotal role in shaping regional strategies, strengthening local partnerships, and amplifying marketing and communication efforts. In recent years, has significantly expanded its footprint in the Middle East and North Africa through strategic partnerships, events, and initiatives. The launch of the Kuwait branch is the latest achievement in this broader regional vision. The multi-regulated global broker remains focused on promoting transparency, education, and trust in financial markets while leveraging cutting-edge technology to help clients navigate increasingly complex global trading conditions. The new office further establishes not only as a leading global broker but also as a committed regional partner, ready to support Kuwait's growing financial ecosystem and contribute meaningfully to the country's fintech landscape. About The XS Group (operating under brand name 'XS' or ' is a Global Multi-Asset Broker providing access to trade a wide range of financial products. Established in Australia in 2010, has grown into a global market leader in the FinTech, financial services and online trading industry with licences in various jurisdictions and offices in different locations around the globe. offers traders, institutional investors and brokers worldwide access to deep institutional liquidity and advanced trading technology, combined with an efficient user experience, high-quality relationship management and excellent customer support. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved.
Zawya
02-07-2025
- Business
- Zawya
Markaz: Kuwait equities extended their rally after de-escalation of geopolitical and trade tensions towards the end of the month
Kuwait: Kuwait Financial Centre 'Markaz' released its Monthly Market Review report for June 2025. Kuwait equity market was positive during June 2025, bringing the market's YTD gains to 14.8%. Kuwait's All Share Index gained 4.2% during the month supported by easing of geopolitical tensions in the Middle East. Consumer staples and real estate sectors were the top gainers, rising 9.1% and 7.7% respectively. The banking sector index increased by 6.2% for the month. Among banking stocks, Kuwait International Bank and Burgan Bank were the top gainers, rising 15.9% and 8.7% respectively during the month. KIB has disclosed that a board member has bought 50,000 shares in the company. Burgan Bank has also disclosed purchase of shares by North Africa Holding, a subsidiary KIPCO Group, as part of its disclosures on insider transaction. Warba Bank and Gulf Bank continued to gain for the month, rising by 8.5% and 7.2% respectively amid ongoing merger discussions. Among Premier Market stocks, Mezzan Holding was the top gainer after KIB, rising 10.0%. Kuwait's consumer price index increased by 2.25% y/y in May 2025 with food and beverage price inflation rising by 4.7% y/y. Following the passage of debt law in March 2025, Kuwait is planning to borrow about KD 6 billion in FY 2025-26, according to Bloomberg. The S&P GCC Composite index gained 3.0% in June 2025. Saudi equity index gained by 1.6% during the month, amid broad-based gains. Saudi Aramco declined by 2.7% during the month, pressured by decline in oil prices in latter part of the month. Abu Dhabi's equity index increased by 2.8% in June 2025, supported by gains in blue-chips. Abu Dhabi Islamic Bank (ADIB) and Aldar Properties gained 12.1% and 7.3% respectively for the month. Dubai's equity index gained 4.1% for the month, supported by gains in blue chips. Dubai Islamic Bank (DIB) and Salik Company gained by 9.9% and 5.8% respectively for the month. Salik Company's strong 2024 performance supported its share price in June. Qatar's equity markets gained 2.7% for the month, supported by gains in natural gas prices. Saudi Arabia's GDP for Q1 2025 grew by 3.4% y/y, higher than the 2.7% y/y growth reported earlier in its flash estimates, on account of smaller annual decline from the oil sector and stronger private sector growth. Fitch has affirmed UAE's AA rating with a stable outlook, citing robust financial buffers despite regional risks and hydrocarbon dependence. UAE's central bank has lowered its 2025 GDP growth forecast for the country to 4.4% y/y, down from earlier estimate of 4.7% y/y, citing lower oil prices, slowdown in global economic activity and increased uncertainty. Global markets were positive during June 2025, supported by de-escalation of geopolitical tensions in the Middle East, progress on trade deal between U.S and China and dovish comments from U.S Fed. The MSCI World and S&P 500 indices rose by 4.2% and 5.0% respectively for the month. According to U.S-China deal, U.S. would charge a 55% tariff on imported Chinese goods while China would charge a 10% tariff on U.S. imports. U.S has also agreed to allow Chinese students to study in its universities, while China would remove export restrictions on rare earths. The MSCI EM index gained 5.7% during the month. Chinese equities rose by 2.9%, supported by reports on U.S-China trade deal. South Korean and Taiwan equities gained 13.9% and 4.3%, respectively, supported by election results (South Korea) and positive trade talks with US (Taiwan) The U.S inflation stood at 2.4% y/y in May 2025, slightly up from the 2.3% y/y reading in April 2025. While inflation numbers are being closely followed, they are yet to show significant impact from the tariffs. The U.S labor market added 139,000 jobs in May, down from 147,000 jobs added in April, indicating emerging weakness amid policy uncertainty. The yield on the 10-year US treasury notes declined 17 bps during the month to 4.24%. U.S Fed held rates steady at 4.25%-4.5% in June 2025, citing persisting risk of inflation. The central bank maintained its expectation of 50-bps rate cuts for 2025, but lowered rate expectation for 2026 and 2027 by 25 bps each to a target rate of 3.50%-3.75% and 3.25%-3.50%, respectively. U.S Fed has also lowered its economic growth expectations for 2025 to 1.4% y/y, from 1.7% y/y estimated in March 2025. Oil (Brent) prices closed the month at USD 67.6 per barrel, rising by 5.8% during the month. The commodity was volatile during June amid geopolitical tensions in the Middle East and U.S-China trade talks, closing at USD 78.85 per barrel on 19th June 2025, its highest close price in five months. However, in the latter part of the month, easing of tensions, expectations of further output hike by OPEC+ in its July meeting and progress in U.S-China trade deal pressured prices. OPEC+ is expected to further increase its output by 411,000 bpd from August 2025. Gold prices closed at USD 3,303, marginally up by 0.4% for the month. Further developments on geopolitical tensions and trade talks would be closely watched by the markets. With the U.S President's tariff pause ending on July 09, 2025, finer details on tariff implementation and their impact on the economy and inflation would impact markets. Given the minimal expected impact from U.S tariffs on GCC, impact of tariffs on oil demand, continued unwinding of production cuts and performance of non-oil economy would be key market determinants for GCC equities. 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 1.44 billion (USD 4.67 billion) as of 31 March 2025. 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@
Al Bawaba
03-06-2025
- Business
- Al Bawaba
Markaz: Kuwait equities were positive during the month led by gains in Premier Market stocks
Kuwait Financial Centre 'Markaz' released its Monthly Market Review report for May 2025. Kuwait equity market was positive during May 2025, supported by strong corporate earnings for some companies and improvement in oil prices. Global markets were buoyed by signs of easing trade tensions. Oil prices increased for the month on the back of de-escalation of trade tensions even as supply concerns tempered markets were positive in May 2025, led by gains in Premier Market stocks. Kuwait's All Share Index (price returns) gained 1.9% supported by positive corporate earnings for some companies. Consumer staples and oil and gas sectors were the top gainers, rising 16.2% and 6.9% respectively. The banking sector index increased 1.6% for the month. Among banking stocks, Burgan Bank and Warba Bank were the top gainers, rising 12.4% and 11.3% respectively during the month. Warba bank has increased its paid-up capital by 100% to KD 436.7 million. Warba Bank and Gulf Bank have initiated discussions to explore a potential merger of the two banks. This is Gulf Bank's third merger discussion following its earlier discussion with Al Ahli Bank of Kuwait (2023) and Boubyan Bank (January 2025).Among Premier Market stocks, Jazeera Airways and Boursa Kuwait were the top gainers, rising 36.7% and 17.7% respectively. Jazeera Airways has reported a 274.8% y/y increase in its net profit for Q1 2025, totaling KD 4.7 million. The increase in passenger traffic and an increase in ancillary revenue after the introduction of new services and products supported growth in profits.S&P has affirmed Kuwait's credit rating at A+ with stable outlook, citing strong public and external balance sheets, backed by significant stock of government financial assets. The agency expects Kuwait's fiscal deficit to remain high, averaging 8.9% of GDP between 2025 and 2028. However, the agency expects the fiscal deficit to decline 6% of GDP by 2028 from about 14% in 2025, due to higher oil revenue on the back of higher production and measures taken by the government to increase non-oil S&P GCC Composite index declined by 2.4% in May 2025 weighed by decline in Saudi equities. Saudi equity index declined by 5.8% during the month, amid decline in earnings for some majors like Saudi Aramco and SABIC, concerns on long-term impact of broader weakness in oil prices on government spending and 12% m/m decrease in the country's oil exports in March 2025. Saudi Telecom Company and Al Rajhi Bank's stock prices declined by 8.0% and 6.5% respectively for the month. flynas, Saudi Arabia's budget airline, has launched its IPO, seeking to raise SAR 3.9 billion (USD 1.0 billion) and SAR 4.1 billion (USD 1.1 billion).Abu Dhabi's equity index increased by 1.6% in May 2025, supported by gains in banking stocks. First Abu Dhabi Bank and Abu Dhabi Commercial Bank gained 7.2% and 3.8% respectively for the month, likely due to continuing momentum from the positive earnings report last month. Dubai's equity index gained 3.3% for the month, supported by gains in blue chips. Emirates NBD gained 9.0% during the month. The bank has received in-principle regulatory approval to set up wholly owned subsidiary in India. It has also offered USD 6 to 7 billion in an all-cash deal for a 61% stake in India's government owned IDBI Bank. Qatar's equity markets were flat for the Arabia's real GDP increased by 2.7% y/y in Q1 2025, supported by non-oil economic activity and government activity. The country's fiscal deficit rose to USD 15.65 billion in Q1 2025 from USD 3.30 billion in Q1 2024 due to an 18% y/y decline in oil revenues and a 5% y/y rise in expenditure. IPO proceeds across MENA region for Q1 2025 reached USD 21 billion, registering a 106% y/y rise, according to EY. Saudi Arabia had been the epicenter of activity with 12 of the 14 listings taking place in the markets were positive during May 2025, supported by de-escalation of trade tensions. The MSCI World and S&P 500 indices rose by 5.7% and 6.2% respectively for the month. U.S and China have agreed to pause levy of additional tariffs announced in April 2025 for 90 days and to also lower tariff levels. The U.S and U.K have also arrived at a trade deal to lower tariffs, giving room for optimism that U.S might strike such deals with other countries as well. Nasdaq 100 surged by 9.0% during the month on the back of strong earnings reports and expansion plans from tech companies. The MSCI EM index gained 4.0% during the equities rose by 2.1%, supported by easing trade tensions, stimulus measures, rate cuts and positive economic data. Indian equities also gained by 1.5% for the month, on the back of institutional interest and earnings momentum.U.S inflation stood at 2.3% y/y in April 2025, slightly down from 2.4% y/y reading in March 2025. The U.S labor market added 177,000 jobs in April, down from 185,000 jobs added in March. The yield on the 10-year US treasury notes rose by 24 bps during the month to 4.41%. The U.S Fed held rates steady in May 2025, citing an increased risk of inflation and unemployment and higher uncertainty around the economic outlook, in the backdrop of recent tariffs. Moody's has downgraded the U.S' sovereign credit rating to Aa1 from Aaa, citing concerns on the growing debt of over USD 36 trillion due to increasing government expenditure and flat government revenues. The U.S House of Representatives has also passed the tax and spending bill which would increase tax breaks and defence spending, weakening the country's fiscal (Brent) prices closed the month at USD 63.9 per barrel, rising by 1.2% during the month. While the easing of trade tensions lent support, concerns of rise in supply weighed on prices. In the backdrop of U.S sanctions on Iran and ongoing discussions between the two countries on nuclear deal, easing of sanctions would enable Iran to re-enter oil market. This would add 400,000 bpd to the global crude supply. OPEC+ is also widely expected to continue to hike output in July 2025. Gold prices closed at USD 3,289, closing flat for the month, maintaining its YTD gain of 25.4%. While expected de-escalation of trade tensions had supported markets during the month, further developments on trade relations between U.S-China and U.S-EU would continue to impact markets, with persisting concerns over economic outlook and inflation. While progress in trade relations and volatility in oil prices might continue to influence GCC markets, sustained momentum in non-oil economic activity and improvement in oil GDP are likely to support investor sentiments.
Zawya
02-06-2025
- Business
- Zawya
Markaz: Kuwait equities were positive during the month led by gains in Premier Market stocks
Kuwait: Kuwait Financial Centre 'Markaz' released its Monthly Market Review report for May 2025. Kuwait equity market was positive during May 2025, supported by strong corporate earnings for some companies and improvement in oil prices. Global markets were buoyed by signs of easing trade tensions. Oil prices increased for the month on the back of de-escalation of trade tensions even as supply concerns tempered gains. Kuwait markets were positive in May 2025, led by gains in Premier Market stocks. Kuwait's All Share Index (price returns) gained 1.9% supported by positive corporate earnings for some companies. Consumer staples and oil and gas sectors were the top gainers, rising 16.2% and 6.9% respectively. The banking sector index increased 1.6% for the month. Among banking stocks, Burgan Bank and Warba Bank were the top gainers, rising 12.4% and 11.3% respectively during the month. Warba bank has increased its paid-up capital by 100% to KD 436.7 million. Warba Bank and Gulf Bank have initiated discussions to explore a potential merger of the two banks. This is Gulf Bank's third merger discussion following its earlier discussion with Al Ahli Bank of Kuwait (2023) and Boubyan Bank (January 2025). Among Premier Market stocks, Jazeera Airways and Boursa Kuwait were the top gainers, rising 36.7% and 17.7% respectively. Jazeera Airways has reported a 274.8% y/y increase in its net profit for Q1 2025, totaling KD 4.7 million. The increase in passenger traffic and an increase in ancillary revenue after the introduction of new services and products supported growth in profits. S&P has affirmed Kuwait's credit rating at A+ with stable outlook, citing strong public and external balance sheets, backed by significant stock of government financial assets. The agency expects Kuwait's fiscal deficit to remain high, averaging 8.9% of GDP between 2025 and 2028. However, the agency expects the fiscal deficit to decline 6% of GDP by 2028 from about 14% in 2025, due to higher oil revenue on the back of higher production and measures taken by the government to increase non-oil revenue. The S&P GCC Composite index declined by 2.4% in May 2025 weighed by decline in Saudi equities. Saudi equity index declined by 5.8% during the month, amid decline in earnings for some majors like Saudi Aramco and SABIC, concerns on long-term impact of broader weakness in oil prices on government spending and 12% m/m decrease in the country's oil exports in March 2025. Saudi Telecom Company and Al Rajhi Bank's stock prices declined by 8.0% and 6.5% respectively for the month. flynas, Saudi Arabia's budget airline, has launched its IPO, seeking to raise SAR 3.9 billion (USD 1.0 billion) and SAR 4.1 billion (USD 1.1 billion). Abu Dhabi's equity index increased by 1.6% in May 2025, supported by gains in banking stocks. First Abu Dhabi Bank and Abu Dhabi Commercial Bank gained 7.2% and 3.8% respectively for the month, likely due to continuing momentum from the positive earnings report last month. Dubai's equity index gained 3.3% for the month, supported by gains in blue chips. Emirates NBD gained 9.0% during the month. The bank has received in-principle regulatory approval to set up wholly owned subsidiary in India. It has also offered USD 6 to 7 billion in an all-cash deal for a 61% stake in India's government owned IDBI Bank. Qatar's equity markets were flat for the month. Saudi Arabia's real GDP increased by 2.7% y/y in Q1 2025, supported by non-oil economic activity and government activity. The country's fiscal deficit rose to USD 15.65 billion in Q1 2025 from USD 3.30 billion in Q1 2024 due to an 18% y/y decline in oil revenues and a 5% y/y rise in expenditure. IPO proceeds across MENA region for Q1 2025 reached USD 21 billion, registering a 106% y/y rise, according to EY. Saudi Arabia had been the epicenter of activity with 12 of the 14 listings taking place in the country. Global markets were positive during May 2025, supported by de-escalation of trade tensions. The MSCI World and S&P 500 indices rose by 5.7% and 6.2% respectively for the month. U.S and China have agreed to pause levy of additional tariffs announced in April 2025 for 90 days and to also lower tariff levels. The U.S and U.K have also arrived at a trade deal to lower tariffs, giving room for optimism that U.S might strike such deals with other countries as well. Nasdaq 100 surged by 9.0% during the month on the back of strong earnings reports and expansion plans from tech companies. The MSCI EM index gained 4.0% during the month. Chinese equities rose by 2.1%, supported by easing trade tensions, stimulus measures, rate cuts and positive economic data. Indian equities also gained by 1.5% for the month, on the back of institutional interest and earnings momentum. U.S inflation stood at 2.3% y/y in April 2025, slightly down from 2.4% y/y reading in March 2025. The U.S labor market added 177,000 jobs in April, down from 185,000 jobs added in March. The yield on the 10-year US treasury notes rose by 24 bps during the month to 4.41%. The U.S Fed held rates steady in May 2025, citing an increased risk of inflation and unemployment and higher uncertainty around the economic outlook, in the backdrop of recent tariffs. Moody's has downgraded the U.S' sovereign credit rating to Aa1 from Aaa, citing concerns on the growing debt of over USD 36 trillion due to increasing government expenditure and flat government revenues. The U.S House of Representatives has also passed the tax and spending bill which would increase tax breaks and defence spending, weakening the country's fiscal position. Oil (Brent) prices closed the month at USD 63.9 per barrel, rising by 1.2% during the month. While the easing of trade tensions lent support, concerns of rise in supply weighed on prices. In the backdrop of U.S sanctions on Iran and ongoing discussions between the two countries on nuclear deal, easing of sanctions would enable Iran to re-enter oil market. This would add 400,000 bpd to the global crude supply. OPEC+ is also widely expected to continue to hike output in July 2025. Gold prices closed at USD 3,289, closing flat for the month, maintaining its YTD gain of 25.4%. While expected de-escalation of trade tensions had supported markets during the month, further developments on trade relations between U.S-China and U.S-EU would continue to impact markets, with persisting concerns over economic outlook and inflation. While progress in trade relations and volatility in oil prices might continue to influence GCC markets, sustained momentum in non-oil economic activity and improvement in oil GDP are likely to support investor sentiments. 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 1.44 billion (USD 4.67 billion) as of 31 March 2025. 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@
Zawya
19-05-2025
- Business
- Zawya
Major Gulf real estate firms rush to Kuwaiti market
KUWAIT CITY - Less than two weeks after the Council of Ministers approved a draft decree-law for amending certain provisions of Law No. 118/2023 regarding the establishment of companies to create, and economically develop cities or residential areas, also known as the 'Real Estate Developer Law', sources revealed that major Gulf real estate development companies are rushing into the Kuwaiti market to seize the opportunities presented by the new law. They explained that some companies have already started studying the Kuwaiti market to assess available opportunities and the economic feasibility of entering the market. Meanwhile, several companies have already entered Kuwait, and have begun recruiting and building their organizational and legal structures to conduct operations. Among the companies entering the local market is a Saudi company (unnamed by the sources) listed on the Saudi Stock Exchange. The sources confirmed that the total construction area developed by the company in Saudi Arabia exceeds 6 million square meters, in addition to a total of 18,000 housing units, some of which are still under construction. They believe that the development of real estate and housing legislation in Kuwait, the government's commitment to reducing citizens' waiting time for housing, and the involvement of the private sector in resolving the housing issue have all paved the way for many real estate companies to enter the Kuwaiti market. The sources emphasized that this will create real and intense competition, which will positively impact the quality and prices of housing units, as well as the services provided to citizens.
