Markaz: Healthcare sector gained the most among Boursa Kuwait’s sectors at 6.3% in September

Markaz: Healthcare sector gained the most among Boursa Kuwait’s sectors at 6.3% in September

Kuwait: Kuwait Financial Centre “Markaz” recently released its Monthly Market Review report for the month of September 2022. Kuwait’s All Share Index witnessed a decline in September, posting a monthly loss of 7.8%. Among Boursa Kuwait’s sectors, Healthcare sector gained the most at 6.3%, while Industrials and Consumer Staples sectors lost 16.2% and 12.5% respectively for the month. Among Premier Market stocks, Mabanee Company gained the most for the month, rising by 4.1%. Gulf Cable and Agility fell the most for the month at 26.2% and 20.7% respectively. According to MEED projects, Kuwait ranked last on the projects market among GCC countries, awarding only USD 28 million in contracts during August. Competition Protection Authority has received requests to establish digital banks in Kuwait from 3 alliances, including 7 listed companies. The licensing applications submitted include i) Boubyan Bank’s alliance with Zain Telecom Group, ii) the alliance of “Ooredoo”, Warba Bank, Kuwait Investment Company and Al-Manar Finance and Leasing Company, and iii) the alliance of Kuwait and Middle East Financial Investment Company. Agility, which was expected to enter digital banking space, did not submit its application by the deadline date.

Central Bank of Kuwait raised its discount rate by 25 bps to