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17/11/2014 19:59 AST
International Financial Advisors (IFA) swung to a loss in the third quarter, sending its shares down 8 per cent.
The Kuwait investment group reported a total loss of 5.5 million Kuwaiti dinars (Dh69.4m), down from a profit of 1.4m dinars in the same period last year. Its total comprehensive loss for nine months ending September 30 was 17.2m dinars, down from a profit of 6.4m dinars.
IFA was not immediately available for a comment.
One of its subsidiaries, IFA Hotels and Resorts, had a joint venture with Nakheel on the Palm Golden Mile development. On Sunday, IFA announced it had entered an agreement with the Dubai master developer for the sale of unsold office, retail and residential space at the complex.
In a filing to the Dubai Financial Market on Sunday, IFA said it had 50.7m dinars worth of investment properties in the UAE and had 131.6m dinars worth of property under development in Dubai at the end of September.
The parent company trades in local and international securities and is involved in portfolios management, among other operations.
The National
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| OSOUL | 156.00 | 1.00 (0.64 |
| BAYANINV | 59.50 | 0.80 (1.36 |
| GFC | 143.00 | 5.00 (3.62 |
| KINGDOM | 9.09 | 0.21 (2.36 |
| TADAWULGROUP | 195.80 | 1.40 (0.72 |
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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