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Bader Al-Kharafi 2nd most powerful Arab young leader – Al-Kharafi ranks first in Kuwait, recognized for his regional and global influence

Posted by on 20/04/2015
Filed under Business, Kuwait, Other News

Bader Al-Kharafi 2nd most powerful Arab young leader – Al-Kharafi ranks first in Kuwait, recognized for his regional and global influence

Bader Al-Kharafi 2nd most powerful Arab young leader – Al-Kharafi ranks first in Kuwait, recognized for his regional and global influence

KUWAIT/DUBAI: Bader Al-Kharafi has been ranked the second most powerful Arab personality across the Arab world under the age of forty years by leading regional business magazine Arabian Business. The rankings, undertaken by Arabian Business for the first time, saw Al- Kharafi placed as the most powerful young leader in Kuwait, surpassing the country’s other […]

Mohamed Naser Al-Sayer & Sons holds Fleet Day – Full strong line-up of Toyota fleet vehicles displayed during event

Posted by on 20/04/2015
Filed under Business

Mohamed Naser Al-Sayer & Sons holds Fleet Day – Full strong line-up of Toyota fleet vehicles displayed during event

Mohamed Naser Al-Sayer & Sons holds Fleet Day – Full strong line-up of Toyota fleet vehicles displayed during event

KUWAIT: Mohamed Naser Al-Sayer & Sons (MNSS), the exclusive distributor of Toyota vehicles in Kuwait and one of the Al-Sayer Group Holding Companies held a fleet day event exclusively for Toyota customers. The event was attended by Faisal Bader Al-Sayer, Vice Chairman, and Mubarak Naser Al-Sayer, CEO Al-Sayer Group Holding, Johan Heislitz Senior Business Director […]

flydubai launches direct flights to Novosibirsk and Nizhniy Novgorod

Posted by on 20/04/2015
Filed under Business

flydubai launches direct flights to Novosibirsk and Nizhniy Novgorod

flydubai launches direct flights to Novosibirsk and Nizhniy Novgorod

KUWAIT: Dubai-based flydubai yesterday further strengthened its commitment to the Russian market adding Novosibirsk and Nizhniy Novgorod to its comprehensive network in the region. Ghaith Al Ghaith, Chief Executive Officer of flydubai, said: “The addition of Novosibirsk and Nizhniy Novgorod to our network is an important milestone for flydubai’s operations in Russia and brings the […]

CBK earns KD 6.32 million

Posted by on 20/04/2015
Filed under Business

CBK earns KD 6.32 million

CBK earns KD 6.32 million

KUWAIT: Commercial Bank of Kuwait (CBK) – Al-Tijari Bank announced yesterday it earned KD 6.32 million, 4.5 fils per share, during first quarter of 2015 compared to KD 5.41 million, 3.9 fils per share, in Q1 of 2014. The CBK said in a statement, published on Kuwait Stock Exchange (KSE) website, that total of shareholders’ […]

Kuwait’s trade surplus slips 18% in 2014 to KD19.8bn

Posted by on 20/04/2015
Filed under Business

Kuwait’s trade surplus slips 18% in 2014 to KD19.8bn

Kuwait’s trade surplus slips 18% in 2014 to KD19.8bn

KUWAIT: Kuwait’s trade surplus slipped in 2014, after oil export revenues fell for the first time in six years. The surplus fell by 18 percent in 2014 to KD 19.8 billion, mainly due to lower oil export receipts. A decline in non-oil export earnings also dragged the surplus lower. With oil prices forecast to continue […]

Saudi SABIC’s Q1 profit plunges 39% over low oil – Company postpones non-vital spending, sees upturn

Posted by on 19/04/2015
Filed under Business

Saudi SABIC’s Q1 profit plunges 39% over low oil – Company postpones non-vital spending, sees upturn

Saudi SABIC’s Q1 profit plunges 39% over low oil – Company postpones non-vital spending, sees upturn

RIYADH: Saudi Basic Industries Corp faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas, its acting chief executive said yesterday after the company reported a 39% plunge in first-quarter profit. SABIC, one of the world’s largest petrochemicals groups and Saudi Arabia’s biggest listed […]

Dollar slides as Fed rate hike hopes fade – NBK MONEY MARKETS REPORT

Posted by on 19/04/2015
Filed under Business

Dollar slides as Fed rate hike hopes fade – NBK MONEY MARKETS REPORT

Dollar slides as Fed rate hike hopes fade – NBK MONEY MARKETS REPORT

KUWAIT: The US dollar started the week on a strong footing continuing to feed off expectations, fuelled by the latest Federal reserve minutes, that the central bank might raise rates as soon as June. The currency then reversed its gains and pushed lower against its major counterparts. The release of disappointing US data initiated concerns […]

Zain makes strategic investment with MEVP – Investment marks Zain’s first foray into venture capital funds

Posted by on 19/04/2015
Filed under Business

Zain makes strategic investment with MEVP – Investment marks Zain’s first foray into venture capital funds

Zain makes strategic investment with MEVP – Investment marks Zain’s first foray into venture capital funds

KUWAIT: Zain Group, a leading innovator of mobile communications in eight markets across the Middle East and Africa, announces its first foray in venture capital investment through a strategic anchor participation in Middle East Venture Partners’ (MEVP)latest fund. The Dubai based MEVF II fund will invest in early stage technology companies with proven traction in […]

GCC bond yields ease as fiscal concerns subside

Posted by on 18/04/2015
Filed under Business

GCC bond yields ease as fiscal concerns subside

GCC bond yields ease as fiscal concerns subside

KUWAIT: GCC bond yields and CDS rates eased during 1Q15 as concerns over the GCC’s fiscal positions receded and perceived risks declined. Yields had risen towards the end of last year following the sharp decline in oil prices and amid concerns of GCC vulnerability. Meanwhile, the stock of outstanding debt picked up as debt issuance […]

Joyalukkas to open Kuwait’s biggest showroom on April 20 – World’s favorite jeweler to create ‘never before experience’

Posted by on 18/04/2015
Filed under Business

Joyalukkas to open Kuwait’s biggest showroom on April 20 – World’s favorite jeweler to create ‘never before experience’

Joyalukkas to open Kuwait’s biggest showroom on April 20 – World’s favorite jeweler to create ‘never before experience’

KUWAIT: The globally renowned jewellery retail chain will expand its presence in Kuwait by opening the biggest showroom in Al-Rai, Kuwait on April 20, 2015 at 5.30 pm. “We decided to create the biggest jewellery showroom for Kuwait because we wanted to create a never before experience in jewellery shopping for shoppers here. We have […]

Buying interest buoys Kuwait bourse

Posted by on 18/04/2015
Filed under Business

Buying interest buoys Kuwait bourse

Buying interest buoys Kuwait bourse

KUWAIT: Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 6,295.75 points, up by 0.29 percent from the week before closing, the Weighted Index increased by 2.15 percent after closing at 434.79 points, whereas the KSX-15 Index closed at 1,054.70 points up by 3.39 percent. Furthermore, last week’s […]

Al-Mazaya announces net profit of KD1.71 million – Operational revenues jump 175 percent to KD 9.59 million

Posted by on 18/04/2015
Filed under Business

Al-Mazaya announces net profit of KD1.71 million – Operational revenues jump 175 percent to KD 9.59 million

Al-Mazaya announces net profit of KD1.71 million – Operational revenues jump 175 percent to KD 9.59 million

KUWAIT: Al-Mazaya Holding Company (KSC) announced its financial results for the first quarter of 2015. The company reported a net profit of KD1.71 million, a 16.6 percent increase compared to the net profit of KD1.47 million reported in the corresponding period of 2014. Earnings per share amounted to 2.77 fils, as compared to 2.37 fils […]

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