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Etihad Airways to start Airbus A380 services to Mumbai in May 2016

Posted by on 03/11/2015
Filed under Business

Etihad Airways to start Airbus A380 services to Mumbai in May 2016

Etihad Airways to start Airbus A380 services to Mumbai in May 2016

KUWAIT: Etihad Airways, the national airline of the United Arab Emirates, will operate its award-winning Airbus A380 between Abu Dhabi and Mumbai from 1 May 2016, with India’s commercial capital joining the carrier’s other A380 destinations of London, New York, Sydney and, from June 2016, Melbourne. The Abu Dhabi-based airline’s 496-seat A380 features the only […]

Kuwait consumes 12.3 million kilograms of tea from Sri Lanka – ‘$1.65 billion tea business thriving’

Posted by on 02/11/2015
Filed under Business, Kuwait, Other News

Kuwait consumes 12.3 million kilograms of tea from Sri Lanka – ‘$1.65 billion tea business thriving’

Kuwait consumes 12.3 million kilograms of tea from Sri Lanka – ‘$1.65 billion tea business thriving’

KUWAIT: The Embassy of Sri Lanka in Kuwait hosted a gathering of businessmen and media representatives to introduce Sri Lanka’s growing $1.6 billion tea business contributing 15 percent to the nation’s foreign exchange. Kuwait imported around 12.3 million kilograms of tea in 2014 and 16.1 million kilograms in 2013. The ‘tea talk’ was presented by […]

Kuwait hosts Islamic Financing Conference – In cooperation with International Monetary Fund

Posted by on 02/11/2015
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Kuwait hosts Islamic Financing Conference – In cooperation with International Monetary Fund

Kuwait hosts Islamic Financing Conference – In cooperation with International Monetary Fund

KUWAIT: Kuwait will host the World Islamic Financing Conference, organized by Kuwait Central Bank (CBK) and the International Monetary Fund (IMF), with the participation of the IMF Center for Financing and Economy in the Middle East and Thomson Reuters as strategic partner for knowledge. The conference will be held on November 11, 2015 under the […]

GCC equity markets fail to recover despite strong gains – KAMCO’s GCC Markets Monthly Report

Posted by on 02/11/2015
Filed under Business

GCC equity markets fail to recover despite strong gains – KAMCO’s GCC Markets Monthly Report

GCC equity markets fail to recover despite strong gains – KAMCO’s GCC Markets Monthly Report

KUWAIT: GCC equity markets failed to recover during October-15 despite strong monthly returns for almost all major global stock markets. Key markets in the region fell with Abu Dhabi reporting the steepest monthly decline followed by Saudi Arabia and Dubai. On the other hand, the MSCI World Index jumped 7.8% by the end of the […]

Real estate prices weaken as activity slowdown persists – NBK’s Economic Report

Posted by on 02/11/2015
Filed under Business

Real estate prices weaken as activity slowdown persists – NBK’s Economic Report

Real estate prices weaken as activity slowdown persists – NBK’s Economic Report

KUWAIT: Activity in Kuwait’s real estate market remained relatively weak with multiple factors dampening sales and lessening its appeal to investors. Seasonality, a strong 2014 and low oil prices have been the main sources of weakness. For the first nine months of the year, total real estate sales reached KD 2.3 billion, down 26% from […]

KIPCO announces 17% increase in profit for first 9 mths of 2015

Posted by on 02/11/2015
Filed under Business

KIPCO announces 17% increase in profit for first 9 mths of 2015

KIPCO announces 17% increase in profit for first 9 mths of 2015

KUWAIT: KIPCO – the Kuwait Projects Company – has announced a net profit of KD 37.2 million (US$ 123.1 million) for the first nine months of 2015, an increase of 17 per cent on the KD 31.82 million (US$ 105.3 million) reported for the same period of 2014. KIPCO’s net profit for the three months […]

VIVA announces profit of KD 32.8m – Increase of 12% during nine month period of 2015

Posted by on 01/11/2015
Filed under Business

VIVA announces profit of KD 32.8m – Increase of 12% during nine month period of 2015

VIVA announces profit of KD 32.8m – Increase of 12% during nine month period of 2015

KUWAIT: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced its financial results for the nine-month period to September 30, 2015. The company delivered strong performance operational at all business levels with net profit of KD 32.8 million, an increase of 12% compared to the same period last year. Reaping such results is a testament […]

Boubyan Bank receives two Islamic Digital Bank Awards

Posted by on 01/11/2015
Filed under Business

Boubyan Bank receives two Islamic Digital Bank Awards

Boubyan Bank receives two Islamic Digital Bank Awards

KUWAIT: Boubyan Bank’s efforts throughout several years of work and development were crowned by earning the World’s Best Islamic Digital Bank Award “the Global Winner” in the field of digital services “the Digital Bank”, from Global Finance in addition to earning the award for the Best Islamic Digital Bank in Kuwait in the field of […]

Al-Babtain launches first ‘Renault store’ in GCC

Posted by on 01/11/2015
Filed under Business

Al-Babtain launches first ‘Renault store’ in GCC

Al-Babtain launches first ‘Renault store’ in GCC

KUWAIT: Abdulmohsen Abdulaziz Al Babtain Co., the exclusive agent for Renault in Kuwait, launched the very first Renault Store in the GCC region. During a launch ceremony that was attended by French Ambassador Christian Nakhle, Al Babtain Chairman Khaled Al-Babtain, Vice President – Groupe Renault AMI Region Peyman Kargar, Al Babtain Chief Executive Officer Saleh […]

Burgan Bank Group net income for first 9 mths of 2015 up by 21%

Posted by on 01/11/2015
Filed under Business

Burgan Bank Group net income for first 9 mths of 2015 up by 21%

Burgan Bank Group net income for first 9 mths of 2015 up by 21%

KUWAIT: Burgan Bank Group announced yesterday the first nine month results for the financial year 2015. The results demonstrate the consistent solid operating performance of the group in its local and regional contexts amid the headwinds stemming from economic, exchange rates & geo-politics volatilities. Burgan Bank Group reported net income for the first 9 months […]

ASAR bags IFLR 2015 ‘National Law Firm of the Year’ Award

Posted by on 01/11/2015
Filed under Business

ASAR bags IFLR 2015 ‘National Law Firm of the Year’ Award

ASAR bags IFLR 2015 ‘National Law Firm of the Year’ Award

KUWAIT: ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, is pleased to announce that it has for the 7th consecutive year been awarded the prestigious “National Law Firm of the Year Award” for 2015 presented by the International Financial Law […]

Eaman Al Roudhan appointed CEO of Zain Kuwait

Posted by on 01/11/2015
Filed under Business

Eaman Al Roudhan appointed CEO of Zain Kuwait

Eaman Al Roudhan appointed CEO of Zain Kuwait

KUWAIT: Zain Group, a leading mobile telecom innovator across the Middle East and Africa, announces the appointment of Kuwaiti national, Mrs Eaman Al Roudhan as CEO of Zain Kuwait, the Group’s flagship and most profitable operation, effective 1 December, 2015. Mrs Al Roudhan will succeed Omar Al Omar who will return to Zain Group in […]