Please wait...
GulfBase Live Support
- Dubai: Eviction notices push some tenants to buy their home
- GCC grocery market shifts toward value-led retail: Oliver Wyman
- Dubai's luxury market soars with Dh3.68m Royal Atlantis rental deal
- Three Zakat, Tax, and Customs Authority employees arrested after receiving bribes: Nazaha
- The Fed has the proof it wants that inflation is slowing, but the next move is still up in the air
- EEC's capital optimization plan to shore up financial position and sustain growth: CEO
- CMA Chief unveils 3-year strategy to bolster Saudi capital market's global
- S&P revises Saudi Arabia's outlook to positive, affirms 'A/A-1' ratings
- Saudi Arabia's inflation rate hits 1.6% in August: GASTAT
- Saudi Arabia calls for regional cooperation to tackle environmental challenges
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.
<
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
| Ticker | Price | Change |
|---|---|---|
| BURGERIZZR | 12.50 | -0.50 (-3.85 |
| ALMUTAHED | 0.00 | 0.00 (0.00 |
| MASSALEH | 0.00 | 0.00 (0.00 |
| ALAMAN | 0.00 | 0.00 (0.00 |
| INVESTORS | 0.00 | 0.00 (0.00 |
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia