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- QIA, Blue Owl Capital enter agreement to establish digital Infrastructure partnership
- Zain Bahrain launches first phase of flagship accelerator programme
- Gold price in Qatari market increases by 1.36% this week
- Bahri Chemicals seals contract of affreightment with Luberef
- stc, Huawei launch 1st service-driven network intelligent optimization platform in central region
- Saudi Market Seen Drawing Billions as Foreign Ownership Cap Nears Shift
- Oil Pulls Back from Seven-week High
- Adnoc's XRG acquires 11.7% stake in US Rio Grande LNG project
- Dubai ranked among world's top four fintech hubs in global index
- Kuwait's economy set to grow 2.6% in 2025: IMF
31/03/2010 00:00 AST
Debtors of Kuwait's Al-Mal Investment Co. have agreed to defer repayment of 20 million dinars ($69.35 million) in bonds for a year, the company said on Tuesday.
The investment management firm, controlled by family-owned conglomerate Kharafi Group, said in a statement to the bourse that its bond holders had approved a one-year extension of payment till April 5, 2011.
The statement did not provide any further details and company officials could not be immediately reached for comment.
Naser Al-Nafisi, general manager of Al-Joman Center for Economic Consultancy in Kuwait, told Reuters the extension was "a good step to save it from trouble."
"The company has a liquidity problem, a serious problem," he said, adding that most of Kuwait's investment firms suffer in one way or another from the aftermath of the global financial crisis.
Kharafi partly owns Kuwaiti telecom Zain which is expected to sign on Tuesday a $9 billion deal to sell most of its African assets to India's Bharti Airtel. Zain said it will use $4 billion to pay debts.
Reuters
03/11/2010
Al-Mal Investment Co. surged to the highest level in more than a year after the Kuwaiti firm said it received an offer to sell a 31.3 million-dinar ($112 million) stake in an energy company.
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Bloomberg
18/02/2010
Saudi Arabia's General Authority of Civil Aviation (Gaca) and Al Mal Investment Company (Al Mal) recently signed a Memorandum of Understanding (MoU) to build the Hail International Airport in the Pri
Gulfnews
17/01/2010
Kuwait's Al-Mal Investment Co, said it has bid for a tender to develop an airport in the Philippines, valued at about $1.2 billion. The firm is controlled by the family-owned conglomerate Kharafi Gro
Reuters
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26/09/2025
Zain Bahrain, a leading telecommunications and technology industry innovator in the kingdom, has officially launched its flagship startup accelerator programme, Zain Great Idea (ZGI), in Bahrain.
Trade Arabia
26/09/2025
Bahri, a global leader in logistics and transportation, has signed its first contract of affreightment (COA) with Luberef through its business unit, Bahri Chemicals, thus marking the beginning of a s
Trade Arabia
26/09/2025
stc group, a leading digital enabler, has teamed up with Huawei Technologies Co., Ltd. to deliver the first-ever Service-Driven Intelligent Optimization Platform in the Central Region of Saudi Arabia
Saudi Gazette
26/09/2025
Adnoc's international gas subsidiary, XRG P.J.S.C., has completed the acquisition of an 11.7% equity stake in Phase 1 of the Rio Grande LNG project in Brownsville, Texas.
The deal, first ann
Gulfnews
25/09/2025
Mekdam Holding Group has bagged a contract from Qatar Fertiliser Company (QAFCO) to execute a strategic contract valued at QR203.9mn.
The contract covers the supply of Tier-1 manpower to sup
Gulf Times
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