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Press Release

Markaz: GCC markets give up gains affected by global growth and inflation concerns while oil remains strong

Kuwait Financial Centre “Markaz” recently released its Monthly Market Review report for the month of May 2022. Kuwait’s All Share Index fell by 6.4% in the month of May as negativity in global markets caught up to the GCC region. The risk off sentiment among investors due to global economic growth concerns amid inflation and monetary policy tightening impacted Kuwait equities. Oil prices were up by 12.3% for the month in anticipation of a tight market with the peak oil-demand season in the U.S. approaching.

05/06/2022

Press Release

Markaz organizes a refresher training program for Wealth Management Team on ‘Know Your Client’

Reinforcing its commitment to ensuring compliance with local and international regulatory standards and requirements, Kuwait Financial Centre “Markaz” organized a refresher training program on ‘Know Your Client’ (KYC) protocols for the front, middle and back-office teams of its Wealth Management business line. The training sessions focused on the importance of conducting customer due diligence and risk management practices in view of the high regulatory importance of anti-money laundering (AML) measures.

02/06/2022

Press Release

Markaz organizes strategic marketing communications masterclass by leading branding expert

Kuwait Financial Centre “Markaz” has announced that it recently organized a masterclass for its executive and senior management leaders as part of the company’s efforts to drive further growth and expansion building on the success of its well-established brand. Held as its half-yearly Executive and Management Learning Event, the masterclass was titled “Strategic Marketing for Niche Services” and was delivered by renowned branding and marketing expert, Fergus Wallace.

29/05/2022

Press Release

Markaz delivers a Net Profit attributable to Shareholders of KD 7.81 mn for Q1-2022; up by 92%

12 مايوKuwait Financial Centre “Markaz” (KSE: Markaz, Reuters: MARKZ.KW, Bloomberg: MARKAZ:KK) reported its financial results for quarter ended 31 March 2022 with Total Revenues of KD 12.24 million, up by 49% y-o-y, as compared to KD 8.23 million in Q1 2021. Markaz delivered a Net Profit attributable to Shareholders of KD 7.81 million, an increase of 92% y-o-y, as compared to KD 4.06 million in Q1 2021, and Earnings Per Share of 16 Fils in Q1 2022.

17/05/2022

CSR

Markaz Holds Fun-filled Annual Ramadan Ghabga for Employees and their Families

In line with its continued efforts to promote team-building and in celebration of Ramadan, Kuwait Financial Centre “Markaz” held its annual Ghabga at the Symphony Hotel on the 20th of April. The event saw Markaz teams and their families enjoy a wide range of recreational activities and fun-filled competitions, including raffles, musical performances, and more. The Ghabga’s proceedings were led by Kuwaiti TV presenter Mr. Abdulaziz Darwish, whose enthusiasm and energy helped make the evening truly memorable for all in attendance.

11/05/2022

Press Release

National Industries Group Holding successfully completes capital increase of KWD 104 million, with ‘Markaz’ acting as Lead Manager and Subscription Agent

National Industries Group Holding (NIGH) and Kuwait Financial Centre “Markaz” announced, in a joint statement, the successful completion of NIGH’s capital increase, raising a total value of KWD 104 million through the issuance of 524,733,305 ordinary shares at a subscription price of 200 Kuwaiti fils per share, representing 35% of the issued and paid-up capital of the company. The subscription period for the rights issue ran from 3 April to 21 April 2022, which witnessed a large turnout, as demand exceeded the number of shares offered with a subscription coverage rate of 348%.

09/05/2022

Press Release

Markaz: GCC markets trend upward on positive economic outlook and corporate earnings

Kuwait Financial Centre “Markaz” recently released its Monthly Market Review report for the month of April 2022. Kuwait’s All Share Index gained 2.6% in the month of April supported by improved economic outlook and positive earnings reports. Oil prices were up by 1.3% for the month.

08/05/2022

Press Release

Invitation to the Shareholders of National Industries Group Holding K.P.S.C. to Participate in the Capital Increase

The Board of Directors of National Industries Group Holding (“NIGH”, or the “Company”) is pleased to invite all shareholders who are registered in the Group’s shareholders’ register as of 28 March 2022 (“Record Date”), to subscribe to the offering shares.

21/04/2022

CSR

Markaz’s first internal Padel Tournament for employees witnesses strong participation

Further strengthening its commitment to creating the ideal work environment, Kuwait Financial Centre “Markaz” successfully held its first internal Padel Tournament. It was well received by its employees who enthusiastically participated in the fun-filled competitions. The tournament comes as part of Markaz’s efforts to promote staff wellness and encourage sports activities by inspiring healthy lifestyle choices among employees and improving engagement and collaboration among them.

21/04/2022

Press Release

Markaz: Gulf Insurance Group reigns the top Kuwaiti-led transactions for 2021 with the acquisition of AXA S.A.’s Gulf-based operations

Gulf Insurance Group (GIG) leads the top M&A transactions led by Kuwaiti buyers during 2021 as per a report recently issued by the Investment Banking Department at Kuwait Financial Centre “Markaz”. The report highlights the multi-million dollar transaction whereby GIG acquired 100% of AXA S.A.’s operations throughout the GCC for a total consideration of USD 474.8 million. As a part of this transaction, GIG will acquire 100% of AXA Gulf, a 50% stake in AXA Cooperative Insurance Company and a 28% stake in AXA Green Crescent Insurance Company, from AXA S.A. and Yusuf Bin Ahmed Kanoo Group .

11/04/2022