The slow rate of recovery seen in GCC equity markets has resulted in a diminished initial public offering (IPO) pipeline. Companies across the region have placed their flotation plans on hold as they wait for more favourable economic conditions. This trend has not bypassed Kuwait, where a number of firms have either slowed or reversed their IPO...
THE COMPANY: BURGAN Bank, a subsidiary of Kuwait Projects Company (KIPCO), is a Kuwaiti-based commercial bank with a regional presence in eight countries, which was incorporated on December 27, 1975. The bank is engaged in the provision of banking and investment services to individuals and corporations....
THE COMPANY: ALAFCO is a commercial aircraft lease provider founded in 1992 as a venture subsidiary of Kuwait Airways. It was registered in 2000 as a closed shareholding company after a takeover of a majority stake by Kuwait Finance House in 1999. ALAFCO offers a wide range of consultative services in...
Having 10 local banks and 11 branches of foreign operators serving a population of around 3m might appear to make for a fragmented market, but the distribution of assets is concentrated in a relatively small number of institutions. At the beginning of 2011 the nation’s two leading banks accounted for about 55.7% of the sector’s total asset base of...
The Kuwait Investment Authority (KIA), the manager of the country’s sovereign wealth fund, is playing an increasingly active role in the domestic and international economy. This bodes well for the country’s growth prospects, and for a future in which national income no longer depends on the global price of oil.
Buoyed by surging oil revenues, strong public finances, and a young and growing population, Kuwait is now moving toward a period of renewed growth after making a strong rebound from the global economic crisis. In 2011 the country’s GDP rose by an estimated 5.7%. According to projections from the International Monetary Fund (IMF), Kuwait will record...
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