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Wataniya Telecom posts KD 182.7m revenue for Q1

Posted by on 22/04/2014
Filed under Business

Wataniya Telecom posts KD 182.7m revenue for Q1

Wataniya Telecom posts KD 182.7m revenue for Q1

KUWAIT: Wataniya Telecom (National Mobile Telecommunications Company -NMTC) yesterday announced its financial results for the first quarter2014: Wataniya — Kuwait Wataniya Kuwait’s customer base was2.22 million customers at the end of Q1 2014, an increase of 12.1 percent on the same period in 2013. Revenues for Q12014were KD 41.8million ($148.4 million), a decrease of 20.2 […]

No devaluation of KD against GBP

Posted by on 22/04/2014
Filed under Business

No devaluation of KD against GBP

No devaluation of KD against GBP

KUWAIT: Rumours about a drastic devaluation of the Kuwaiti dinar (KWD) against the sterling pound (GBP) last week were refuted yesterday by employees of exchange companies across Kuwait. According to an employee from one of the leading exchange companies in Kuwait, the rate of the Kuwaiti dinar against the sterling pound has been stable in […]

Coutts expands Middle East Advisory Board

Posted by on 22/04/2014
Filed under Business

Coutts expands Middle East Advisory Board

Coutts expands Middle East Advisory Board

DUBAI/LONDON: Coutts yesterday announced the appointments of Saleh Ali Al-Turki, Sohail Al-Mazrui, Rami El Nimer and Bader Al-Kharafi to its Middle East Advisory Board. Coutts’ Middle East Advisory Board was created in October 2013 to help broaden and shape the firm’s ambitious plans, aiding hiring and driving performance by strengthening client relationships. The Board continues […]

Jaguar named ‘2014 best car styling luxury brand’ by Kelley Blue Book

Posted by on 22/04/2014
Filed under Business

Jaguar named ‘2014 best car styling luxury brand’ by Kelley Blue Book

Jaguar named ‘2014 best car styling luxury brand’ by Kelley Blue Book

KUWAIT: Jaguar is proud to announce that the F-TYPE Convertible is an Automobile Magazine 2014 ‘All-Star’ for its part in redefining and modernizing the brand. This marks the third year a Jaguar vehicle has received the honor. “The F-TYPE Convertible, Jaguar’s modern take on its iconic, 1960s E-Type, captivated us with its svelte body, its […]

CFC achieves net profit of KD 12.9m for 2013 – Dividends reached KD 168.9 million

Posted by on 22/04/2014
Filed under Business

CFC achieves net profit of KD 12.9m for 2013 – Dividends reached KD 168.9 million

CFC achieves net profit of KD 12.9m for 2013 – Dividends reached KD 168.9 million

KUWAIT: Following the conclusion of its annual General Assembly, which was held yesterday, and further to the 34th annual report of the company work and results for the financial year ending December 31st 2013, Commercial Facilities Company (CFC) announced its approval on the board of director’s report and an approval of the balance sheet and […]

Gulf Cable plans copper factory project in Jordan

Posted by on 21/04/2014
Filed under Business

Gulf Cable plans copper factory project in Jordan

Gulf Cable plans copper factory project in Jordan

KUWAIT: Chairman of the Board of Gulf Cable and Electrical Industries Co Bader Nasser Al-Kharafi said the company is always considering expansion opportunities, and gets involved in feasible ones. He said it is currently considering involvement in a copper factory project in Jordan. Kharafi, who was speaking after the company’s general assembly, said the company […]

Zain Group records robust revenues of $1.1bn in Q1

Posted by on 21/04/2014
Filed under Business

Zain Group records robust revenues of $1.1bn in Q1

Zain Group records robust revenues of $1.1bn in Q1

KUWAIT: Zain Group, the pioneer in mobile telecommunications across the Middle East and Africa, announced its consolidated financial results for the first quarter ended 31 March, 2014. Regarding customers, Zain Group added 2.1 million net additions over the last twelve months to serve 46.2 million as of 31 March 2014, reflecting a 5 percent growth […]

Warba Bank reports 72.5% operating income growth

Posted by on 21/04/2014
Filed under Business

Warba Bank reports 72.5% operating income growth

Warba Bank reports 72.5% operating income growth

KUWAIT: Emad Al-Thaqeb, Chairman of Warba Bank, announced that Warba has posted operating income of KD 3.8 million as at the end of the first quarter of 2014 vis-a-vis KD 2.2 million for the same period of 2013, with an increase of around 72.5 percent. He pointed out that the increase and growth achieved by […]

Al-Mazaya Holding achieves 588% jump in Q1 net profits

Posted by on 21/04/2014
Filed under Business

Al-Mazaya Holding achieves 588% jump in Q1 net profits

Al-Mazaya Holding achieves 588% jump in Q1 net profits

KUWAIT: Al-Mazaya Holding Company announced its financial results for the first quarter of the year 2014, confirming a net profit of KD 1.5 million during the period, compared to KD 214,000 over the same period in 2013, representing an increase by 588 percent. Dividends per share amounted to 2.37fils per share, compared to 0.34 in […]

Earnings, economy buoy US stocks against Ukraine fears

Posted by on 20/04/2014
Filed under Business, Top Stories

Earnings, economy buoy US stocks against Ukraine fears

Earnings, economy buoy US stocks against Ukraine fears

NEW YORK: Positive overall quarterly earnings and some encouraging data on the economy protected US stocks this week from tensions over Ukraine and frail enthusiasm for tech stocks. Markets fought off selling pressure to end the holiday-shortened week with solid gains, and a surprise boost for the IPO star of the week, China’s Sina Weibo, […]

Sina Weibo shares jump 19% in US debut

Posted by on 18/04/2014
Filed under Business, Top Stories

Sina Weibo shares jump 19% in US debut

Sina Weibo shares jump 19% in US debut

NEW YORK:  Sina Weibo, China’s answer to Twitter, debuted on the Nasdaq exchange Thursday with a 19.1 percent jump despite an IPO that went out undersubscribed and lower priced than hoped. In a spate of buying that suggested that Wall Street’s waters are still welcoming to loss-making technology high flyers, and to Chinese firms as […]

Dubai airport upgrades runways, Emirates’ revenue hit

Posted by on 17/04/2014
Filed under Business, Middle East, World

Dubai airport upgrades runways, Emirates’ revenue hit

Dubai airport upgrades runways, Emirates’ revenue hit

DUBAI: Dubai’s flagship carrier Emirates faces losing revenue of 1 billion dirhams ($272 million) when it reduces flights to 41 destinations from Dubai International Airport during work to upgrade and refurbish the two runways, it said yesterday. The 80-day program of work will start on May 1 with Emirates taking the brunt of reductions in […]

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