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AUB’s AGM approves 18% cash and 5% stock dividends for shareholders – Hamad Al-Humaidhi elected Chairman of AUB Group

Posted by on 31/03/2015
Filed under Business

AUB’s AGM approves 18% cash and 5% stock dividends for shareholders – Hamad Al-Humaidhi elected Chairman of AUB Group

AUB’s AGM approves 18% cash and 5% stock dividends for shareholders – Hamad Al-Humaidhi elected Chairman of AUB Group

KUWAIT: The Annual General Meeting of Ahli United Bank BSC has approved the distribution of a cash dividend of 18 percent ($ 4.5 cents per share) together with an ordinary shares bonus of 5 percent (one share per 20 ordinary shares held) for the financial year ended 31 December 2014. Shareholders registered in the Bank’s […]

VIVA achieves KD 40.3 million net profit in 2014 – Second largest operator with 32% of total market revenues in Kuwait in 2014

Posted by on 31/03/2015
Filed under Business

VIVA achieves KD 40.3 million net profit in 2014 – Second largest operator with 32% of total market revenues in Kuwait in 2014

VIVA achieves KD 40.3 million net profit in 2014 – Second largest operator with 32% of total market revenues in Kuwait in 2014

KUWAIT: Kuwait Telecommunications Company (VIVA), yesterday held its Annual General Meeting (AGM) at the Jumeirah Hotel and approved the company’s audited financial results for the year ended 31 December 2014. Adel Al-Roumi, Chairman of the Board, said: “2014 was a major milestone for the company after it was successfully listed on the Kuwait Stock Exchange, […]

ACICO Cement launches new product lines for Kuwait’s construction sector – Demand from private, public projects growing: Al-Khaled

Posted by on 31/03/2015
Filed under Business

ACICO Cement launches new product lines for Kuwait’s construction sector – Demand from private, public projects growing: Al-Khaled

ACICO Cement launches new product lines for Kuwait’s construction sector – Demand from private, public projects growing: Al-Khaled

KUWAIT: ACICO Cement decided to launch new production lines for essential and vital construction materials including the interlock and white cement within its integration plan and in response to the increasing local market demand. At a press conference held on Monday at Palms Hotel, Eng Ahmad Al-Khaled, ACICO Cement CEO, announced that this step came […]

GIG achieves net profit of KD 12 million in 2014 – Group establishes new life insurance firm in Algeria

Posted by on 31/03/2015
Filed under Business

GIG achieves net profit of KD 12 million in 2014 – Group establishes new life insurance firm in Algeria

GIG achieves net profit of KD 12 million in 2014 – Group establishes new life insurance firm in Algeria

KUWAIT: Gulf Insurance Group (GIG), the leading insurance provider in Kuwait and the Middle East held its 53rd ordinary general assembly meeting. The group announced that it achieved a net profit KD 12 million ($41 million), equivalent to 66.42 fils per share for the year ended in 12/31/2014 reflecting a double digit growth rise of […]

Kuwait’s real estate sales edged lower in February

Posted by on 30/03/2015
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Kuwait’s real estate sales edged lower in February

Kuwait’s real estate sales edged lower in February

KUWAIT: Sales in Kuwait’s real estate market were down in February for the third month in a row to KD 221 million, the lowest in two years. The short nature of the month and the coinciding National and Liberation day holidays pushed the number of transactions further down. Compared to the same month last year, […]

Jazeera Airways Group recommends record shareholder payments

Posted by on 30/03/2015
Filed under Business

Jazeera Airways Group recommends record shareholder payments

Jazeera Airways Group recommends record shareholder payments

KUWAIT: The board of directors of Jazeera Airways Group yesterday recommended record dividends and payments to shareholders totaling up to KD50 million in the form of special dividends for 2014 and a share buyback program. All payments will be executed separately in the next several months with the last payment expected to take place in […]

US tax deadline approaching for Americans overseas

Posted by on 30/03/2015
Filed under Business

US tax deadline approaching for Americans overseas

US tax deadline approaching for Americans overseas

KUWAIT: Deputy GM of American Tax Bureau (ATB), Hilmi Hakim, C P A, has stressed the importance for all US Citizens to comply with the newly implemented Foreign Account Tax Compliance Act (FATCA). US Federal Law requires all US Citizens and Green Card holders to file an annual tax return with the Internal Revenue Service […]

The Lexus Brand in motion

Posted by on 29/03/2015
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The Lexus Brand in motion

The Lexus Brand in motion

KUWAIT: Mohamed Nader Al-Sayer & Sons (MNSS), the authorized distributor of Lexus in Kuwait, is committed to providing the highest level of product quality, conveniently accessible top class luxury outlets, and the best in class service for a premium ownership experience beyond compare for Lexus loyalists. Lexus brand is poised to become the pinnacle of […]

Europe recovering at the expense of US

Posted by on 29/03/2015
Filed under Business

Europe recovering at the expense of US

Europe recovering at the expense of US

KUWAIT: The market is still trying to determine the bottom of the range for the US dollar. During the past three weeks, investors have been wondering whether the almost year long US dollar rally is due a pause after the Dollar index dropped 3 percent from its peak in the beginning of March. Since the […]

Focusing on the three Ds

Posted by on 29/03/2015
Filed under Business

Focusing on the three Ds

Focusing on the three Ds

Looking forward several years, there will be three important factors that will determine the economic and investment outlook. They are decoupling, deflation and demand. The decoupling concept is based on the question, “Can the United States economy expand at about 3 percent if the rest of the world is in recession or experiencing diminished growth?” […]

Ooredoo launches Xpress Xpat prepaid offer – Benefits like int’l minutes, SMS in addition to local internet

Posted by on 29/03/2015
Filed under Business

Ooredoo launches Xpress Xpat prepaid offer – Benefits like int’l minutes, SMS in addition to local internet

Ooredoo launches Xpress Xpat prepaid offer – Benefits like int’l minutes, SMS in addition to local internet

KUWAIT: Ooredoo Kuwait, a member of the international Ooredoo Group, launched a new prepaid offer which features a variety of benefits aimed to give customers more value for their money. The new offer helps professionals keep in touch with their families and friends in their home country. It is priced at only KD 5 and […]

GMC Terrain ranked most dependable in 2015 – J D Power vehicle dependability study

Posted by on 29/03/2015
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GMC Terrain ranked most dependable in 2015 – J D Power vehicle dependability study

GMC Terrain ranked most dependable in 2015 – J D Power vehicle dependability study

KUWAIT: The GMC Terrain compact SUV ranked highest in its respective segment in the 2015 JD Power Vehicle Dependability Study. The GMC brand gained six spots, moving up to No. 10 overall (in a tie). The 2015 study tracks 2012 model year vehicles in the third year of ownership. GMC Terrain remains a favorite in […]

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