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Sector News

Jazeera Airways
16 July 03:30 PM Jazeera Airways resumes direct flights to Saudi destination
Mubasher: Jazeera Airways has relaunched tree weekly direct flights to Abha in Saudi Arabia, according to an official statement. Abha is Jazeera Airways’ seventh destination in Saudi Arabia. Meanwhile, the resumption of this direct route between …
Companies Investments
Photo Gallery
7 May 2023 03:17 PM Jazeera Airways endorses regional footprint with new route to Egypt
Mubasher: Kuwait-listed Jazeera Airways will commence operating direct flights to the Sphinx International Airport in Egypt on 16 May 2023. With the new route, the airline currently flies direct flights to seven cities in Egypt. This brings the …
Companies Investments
Photo Gallery
15 March 2023 00:41 PM Kuwait’s Jazeera Airways unveils plans for Saudi aviation sector
Mubasher: Kuwait-based airline Jazeera Airways announced the potential establishment of a low-cost airline in Saudi Arabia. The new entity will be founded along with Saudi partners and will be based at the King Fahad International Airport in …
Companies Investments
Photo Archive
30 November 2022 11:50 AM Global Auto named as new importer for BMW, MINI in Egypt
Cairo - Mubasher: BMW Group announced the appointment of Global Auto Group as the new importer of BMW and MINI in Egypt, according to a press release on Wednesday. Global Auto Group has also acquired Bavarian Auto Group, the former importer of …
Companies Investments
Photo Archive
13 October 2022 02:03 PM Kuwait Hotels’ unit to manage Safir Hotel Marsa Matruh
Mubasher: Kuwait Hotels Company said that its subsidiary, Safir International Hotel and Resort Management, has signed a contract to operate and manage Safir Hotel in Egypt's Marsa Matruh governorate.    The financial impact of the …
Companies Investments
Photo Archive
22 August 2022 04:06 PM Kuwait Hotels’ unit renews contract to manage Safir Hotel Cairo
Mubasher: Kuwait Hotels Company announced that its subsidiary, Safir International Hotel and Resort Management, has renewed the management contract of Safir Hotel Cairo.   The contract has been extended for a period of two years and four months …
Companies Investments
Photo Gallery
14 July 2022 04:55 PM Kuwaiti Jazeera Airways scales up services in Saudi Arabia
Mubasher: Kuwait’s airlines company Jazeera Airways has added two new destinations to its network in the Saudi cities of Abha and Hail to expand its services in the Kingdom, according to a press release. Three weekly flights will be operated for …
Companies Investments
Expected revenues from the 10-year contract are KWD 1.2 million
23 March 2021 01:54 PM Kuwait Hotels Co's unit inks hotel management deal in Egypt's Sharm El-Sheikh
Mubasher: Kuwait Hotels Company announced that its subsidiary Safir International Hotel and Resort Management signed a contract for the management of Safir Sharm Waterfalls in Egypt’s Red Sea Governorate. Expected revenues from the 10-year …
Companies Investments
The decision will support the company's financial position
4 June 2020 09:19 AM Kuwait National Cinema’s board cuts 2019 dividends
Mubasher: The Board of Directors of Kuwait National Cinema recommended, during its meeting, reducing the cash dividends for fiscal year (FY) 2019 to be 35% of the share’s nominal value or 35 fils per share, subject to the general assembly’s …
Cash Dividends
Jazeera Airways - A320neo 2
2 June 2020 01:34 PM Jazeera Airways gives away 50K free tickets to frontline heroes
Mubasher: Jazeera Airways has offered 50,000 complimentary round-trip tickets to frontline heroes in Kuwait as a reward for their efforts against the coronavirus (COVID-19) pandemic and at an estimated value of KWD 5 million. The initiative …
Company News
Further details will be announced later on
14 May 2020 10:39 AM Soor Fuel awarded KWD 9m selective practice deal by interior ministry
Mubasher: Soor Fuel Marketing (Soor) has won a selective practice worth KWD 9.372 million by the Kuwaiti Ministry of Interior to supply fuel provision cards and RFID system for fuel control and management.  The contract signing process is still in …
Companies Investments
The announcement has no material impact on the group’s financial position
7 May 2020 01:21 PM Alrai Media cancels 2019 dividends; mulls capital cut
Mubasher: The ordinary general meeting (OGM) of Alrai Media Group decided not to distribute cash dividends to shareholders for fiscal year (FY) ended on 31 December 2019. Meanwhile, the extraordinary general meeting (EGM) approved to continue the …
General Assembly
All returning citizens underwent testing procedures at a well-equipped centre
20 April 2020 10:12 AM Jazeera Airways runs 15 rescue flights Sunday
Mubasher: Jazeera Airways has operated 15 flights last Sunday as part of the first phase of the air bridge flights to repatriate Kuwaiti citizens from abroad in light of the coronavirus (COVID-19) outbreak. The airline operated four flights from …
Global Economy
The first flights were operated by Kuwait Airways and Jazeera Airways
19 April 2020 11:05 AM Kuwait launches air bridge to evacuate its citizens from abroad
Mubasher: Kuwait International Airport on Sunday received two passenger flights from Dubai and Abu Dhabi as part of the air bridge flights to evacuate Kuwaiti nationals from abroad amid the coronavirus (COVID-19) pandemic. The flights were …
Global Economy
IFA incurred KWD 14.11 million worth of losses in Q4-19
9 April 2020 02:48 PM IFA Hotels’ losses up 17% in 2019
Mubasher: The net losses of IFA Hotels and Resorts surged by 17% over the fiscal year (FY) ended on 31 December 2019 to reach KWD 22.52 million as compared to KWD 19.25 million in 2018. The negative 2019 results are ascribed to a rise in value …
Financial Results
The profits totalled KWD 1.09 million in Q4-19
8 April 2020 09:20 AM Jiyad Holdings' profits edge down 1% in 2019
Mubasher: Jiyad Holding Co achieved profits worth KWD 1.75 million ($5.64 million) in the fiscal year (FY) ended in December 2019, down by 1% when compared to KWD 1.77 million ($5.71 million) in 2018. The increase in the annual profit was backed …
Financial Results
The decision is due to the coronavirus outbreak
7 April 2020 04:03 PM Al Imtiaz Investment, Oula Fuel cancel FY19 dividends
Mubasher: The board of Al Imtiaz Investment Group decided to cancel its proposed dividend distribution of 10 fils per share or 10% of the share’s nominal value for the fiscal year (FY) 2019 due to the coronavirus (COVID-19) implications on the …
Board of Directors
The board recommended not to distribute any dividends for 2019
6 April 2020 09:45 AM Kuwait Hotels’ losses widen 171% in 2019
Mubasher: Kuwait Hotels reported higher losses by 170.7% year-on-year (YoY) in the fiscal year (FY) 2019 at KWD 984,132 ($3.16 million) from KWD 363,582 ($1.17 million). The negative 2019 results were driven by losses from derecognition and …
Financial Results
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 2020 00:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
Global Economy
The earnings totalled KWD 2.24 million in 2019
25 March 2020 10:03 AM Sultan Center’s earnings down 10% in 2019
Mubasher: The financial statements of Sultan Center Food indicated a drop in profits by 10.3% annually in the fiscal year (FY) ended in December 2019, due to a lower share of results from an associate. The earnings totalled KWD 2.24 million ($7.19 …
Financial Results
The new decision will support the company’s operation once the travel halt is lifted
23 March 2020 09:37 AM Jazeera Airways cancels 2019 dividends amid COVID-19 uncertainties
Mubasher: The board of Jazeera Airways has cancelled the proposed cash dividends distribution and recommended not to distribute any dividends for the fiscal year (FY) ended on 31 December 2019 in an attempt to curb the fallout from the coronavirus …
Cash Dividends
The decision is subject to regulatory approvals
16 March 2020 11:51 AM Kuwait Cable Vision cancels request to delist from Boursa Kuwait
Mubasher: The board of Kuwait Cable Vision has cancelled the company’s withdrawal request from Boursa Kuwait and called for a general assembly meeting. The decision will be subject to regulatory approvals, according to a bourse disclosure on …
Management Decisions
Jazeera Airways' fleet includes 14 aircrafts
15 March 2020 04:53 PM Jazeera Airways puts entire fleet at disposal of Kuwait
Mubasher: Jazeera Airways has placed its 14-aircraft fleet of at the disposal of the Kuwaiti government, as part of its national duty as the country faces the outbreak of the new coronavirus (COVID-19). The Gulf state can use the airline’s fleet …
Global Economy
Profits amounted to KWD 181,409 in Q4-19
10 March 2020 09:22 AM Oula Fuel records KWD 4m profit in 2019; dividends proposed
Mubasher: The financial statements of Oula Fuel Marketing Company showed an increase in net profits by 1.4% over the fiscal year ended on 31 December 2019 at KWD 3.86 million ($12.71 million) as compared to KWD 3.81 million ($12.51 million) in …
Financial Results
The board also proposed reducing operational capacity
5 March 2020 11:02 AM Jazeera Airways plans lower dividends on coronavirus fears
Mubasher: The board of Jazeera Airways has lowered its recommended cash dividends to KWD 7 million or 35 fils per share, representing 35% of capital, down from a previous recommendation of 67.5%. The recommendation is due to the potential impact …
Cash Dividends