National Industries Group Holding (NIG), a leading Kuwait-based company engaged in diversified industrial sectors, said it has appointed banks to raise more than KD100 million ($358 million) in a shariah-compliant syndicated loan.
Kharafi Group will invest $150 million in a 100,000 barrels per day (bpd) coastal refinery being built by Cals Refineries, the Indian company said on Friday, the first such investment by a Kuwaiti firm.
The financing could finally allow Ca
Egypt's Electricity Ministry will sign a deal in days with Kuwait's Kharafi Group to build two power plants in Egypt with a combined capacity of 1,000 megawatts, a spokesman for the ministry said on Tuesday.
Egypt, which has about
Kuwait’s MA Kharafi Group said it is bringing the concept of ‘Marina Living’ to Egypt with the launch of its ‘Marina Residences’ project at the $2 billion Port Ghalib Red Sea development on the country’s fashionable Red Sea Riviera.
Kharafi Group has received the backing of enough Zain shareholders to sell 46 per cent of the Kuwaiti telecommunications group to Etisalat, clearing at least one hurdle in sealing the $12 billion deal.
Emirates Telecommunications, or Etisa
Emirates Telecommunications Corp's (Etisalat) offer to buy the Kharafi Group's stake in Zain is 'suitable and good for both parties,' the head of the Kharafi Group was quoted as saying in a Kuwaiti newspaper on Thursday.
Kuwaiti family conglomerate Kharafi Group has invited shareholders in telecoms firm Zain to sell their shares as part of a consortium, as it works to gather a 46 percent stake to sell to foreign investors.
Shareholders who own no more than
Kuwait family conglomerate Kharafi Group and other investors are expected to reach a deal by the end of this week to sell about 46 percent of Zain, a source familiar with the matter said. The deal could be worth $13.7 billion.
The M A Kharafi Group has created an independent hospitality, tourism and real estate investment company based in Geneva, Switzerland.
The Sovereign Hospitality Holdings will have regional offices in South Africa and Egypt. The company exp