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Global distributes $32m to its clients investing in its equity fund GMFA

Posted by on 13/05/2018
Filed under Business

Global distributes $32m to its clients investing in its equity fund GMFA

Global distributes $32m to its clients investing in its equity fund GMFA

KUWAIT: Global Investment House (Global), a regional asset management and investment banking firm headquartered in Kuwait with offices in major capital markets in the MENA region, announced yesterday that its alternative asset management arm, Global Capital Management (GCM), has distributed $32million to its clients investing in its private equity fund, Global MENA Financial Assets Limited […]

KIPCO announces net profit of KD 5.64 million for Q1 2018

Posted by on 13/05/2018
Filed under Business

KIPCO announces net profit of KD 5.64 million for Q1 2018

KIPCO announces net profit of KD 5.64 million for Q1 2018

‘Diversified portfolio and prudence will help us continue steadily through 2018’ KUWAIT: KIPCO – the Kuwait Projects Company (Holding) – announced a net profit of KD 5.64 million ($18.8 million), or 1.53 fils per share ($0.51 cents), for the first three months of 2018, an increase of 11 per cent over the KD 5.07 million […]

NBK highlights changes in UK taxations, London’s residential property outlook

Posted by on 12/05/2018
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NBK highlights changes in UK taxations, London’s residential property outlook

NBK highlights changes in UK taxations, London’s residential property outlook

Bank hosts world experts in taxation and real estate investment KUWAIT: National Bank of Kuwait organized a seminar for its customers titled “London Residential Property: Important Taxation Changes and Outlook.” It dealt with UK taxation changes and the latest developments in the London residential property with participation by two world experts from two leading European […]

Kuwait to host 107th meeting of GCC financial committee

Posted by on 12/05/2018
Filed under Business

Kuwait to host 107th meeting of GCC financial committee

Kuwait to host 107th meeting of GCC financial committee

KUWAIT: Kuwait Ministry of Finance announces the hosting of the 107th Meeting of the GCC Financial and Economic Committee in Kuwait on the14th of May 2018. The meeting will be attend by the Ministers of Finance and Economics of the six Gulf Cooperation Council (GCC) countries and attended by the Secretary General of the Gulf […]

VIVA reports revenues of KD 77.6 million for Q1

Posted by on 12/05/2018
Filed under Business

VIVA reports revenues of KD 77.6 million for Q1

VIVA reports revenues of KD 77.6 million for Q1

Telecom operator records 13.9% growth in first quarter revenues KUWAIT: VIVA , Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the first quarter ended on 31 March 2018; whereby VIVA’s Revenues grew to reach KD 77.6 million recording a growth of 13.9 percent compared to the same period last year; whereas […]

KGL renews its partnership with Sharjah RTA

Posted by on 12/05/2018
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KGL renews its partnership with Sharjah RTA

KGL renews its partnership with Sharjah RTA

KUWAIT: KGL Passenger Transport Services has renewed its contract with the Sharjah Roads and Transport Authority (RTA) in the United Arab Emirates (UAE) to develop and upgrade existing busses and developing the fleet with new eco-friendly busses. This move shows both parties’ interest in the development of transport busses and encourage the public to use […]

Zain reports 7% net profit growth to reach KD 41 million, 5% revenue growth to reach KD 259 million for Q1 2018

Posted by on 10/05/2018
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Zain reports 7% net profit growth to reach KD 41 million, 5% revenue growth to reach KD 259 million for Q1 2018

Zain reports 7% net profit growth to reach KD 41 million, 5% revenue growth to reach KD 259 million for Q1 2018

Kuwait and Iraq operations perform strongly in quarter: Bader Al-Kharafi KUWAIT: Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, announces its consolidated financial results for the first quarter (Q1) ending 31 March 2018. Zain served 46.9 million customers at the end of the period, reflecting a 2 […]

Philippine economic growth surges, central bank hikes rates

Posted by on 10/05/2018
Filed under Asia, Business, World

Philippine economic growth surges, central bank hikes rates

Philippine economic growth surges, central bank hikes rates

MANILA: The Philippine economy was one of Asia’s best performers in the first quarter of 2018, data showed yesterday, but concerns over inflation pushed the central bank to lift interest rates. The 6.8 percent expansion, which tied it with China and was only eclipsed by Vietnam, was boosted by a surge in government spending under […]

Jazeera Airways reveals new dedicated terminal at Kuwait International Airport

Posted by on 09/05/2018
Filed under Business, Kuwait, Other News

Jazeera Airways reveals new dedicated terminal at Kuwait International Airport

Jazeera Airways reveals new dedicated terminal at Kuwait International Airport

First terminal owned by a non-government airline KUWAIT: In a press tour held at its soon-to-open terminal, Jazeera Airways, Kuwait’s leading low cost airline, operating regionally and internationally, revealed a state-of-the-art terminal and parking structure ready to welcome passengers in a new travel experience that provides them with improved, fast and customer-centric services. Leading the […]

Oil soars as Trump dumps Iran nuke deal

Posted by on 09/05/2018
Filed under America, Business, Middle East, Top Stories, World

Oil soars as Trump dumps Iran nuke deal

Oil soars as Trump dumps Iran nuke deal

Sanctions spell the end of OPEC output deal LONDON: Oil prices rose more than 3 percent yesterday to 3-1/2 year highs, after US President Trump abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member. Ignoring pleas by allies, Trump on Tuesday pulled out of an international deal […]

Boubyan Bank launches Al-based ‘Musaed’ service to all its clients

Posted by on 09/05/2018
Filed under Business

Boubyan Bank launches Al-based ‘Musaed’ service to all its clients

Boubyan Bank launches Al-based ‘Musaed’ service to all its clients

Al-Tuwaijri: Service is for the first time in Kuwait KUWAIT: In continuation of its distinction in presenting new and remarkable services and products in the banking services’ market in Kuwait, Boubyan Bank has launched “Musaed” service as a part of AI-based conversation management technology, simply known as “Chatbot”. This is service is introduced for the […]

EQUATE Group announces financial results for Q1 2018

Posted by on 09/05/2018
Filed under Business

EQUATE Group announces financial results for Q1 2018

EQUATE Group announces financial results for Q1 2018

KUWAIT: The EQUATE Group, a global petrochemical producer, today reported its Q1, 2018 financial results (unaudited), with EBITDA of $577 million, up by 22 percent from Q1, 2017, net profit of $435 million, up 41 percent from Q1, 2017 and NIAT of $425 million, up from $308 million in Q1, 2017. These were the EQUATE […]