Kuwait Stock Exchange Daily Morning Brief 01-07-2012

News & Views

• The current and future projects of Saudi Arabia's state-owned National Water Co., in local cities under its supervision are valued at more than 20 billion Saudi riyals (USD5.33 billion), as reported by Al Riyadh daily.
• Shareholders of three Bahrain-based Islamic investment banks (Capivest, Elaf Bank, Capital Management) have approved their merger, in a move aimed at creating a strong company that will be able to capture larger projects and also diversify its capital sources.
• Kuwait’s Mena Real Estate Co. has said that it is talks to buy a plot of land in Jordan to set up a tourism and commercial real estate project there, at an estimated cost of USD 15 million.
• A regulatory Framework for Islamic Finance is taking shape in Oman as government bodies move towards meeting the country’s stated claim of making sharia-compliant products available to the public this year.