Home » Archives by category » Business (Page 3)

Zain Group reports 2% net profit growth for 2017 Fourth quarter 2017 net profit up 16%

Posted by on 07/02/2018
Filed under Business

Zain Group reports 2% net profit growth for 2017 Fourth quarter 2017 net profit up 16%

Zain Group reports 2% net profit growth for 2017 Fourth quarter 2017 net profit up 16%

Consolidated revenues reach $3.4 billion, EBITDA amounts to $1.4 billion (40% margin) and net profit of $527 million for full-year 2017 Data revenues increase 3%, representing 25% of total Group revenues Currency translation impact in Sudan affects Group 2017 net profit by $82 million Zain Saudi Arabia records annual net profit for first time since […]

Yas Island showcases region’s #1 family and leisure destination

Posted by on 07/02/2018
Filed under Business

Yas Island showcases region’s #1 family and leisure destination

Yas Island showcases region’s #1 family and leisure destination

Miral’s CEO hosts company’s first Kuwait roadshow KUWAIT: As the region’s top family entertainment and leisure destination celebrates its 10th anniversary year, Yas Island yesterday presented its unique portfolio of immersive experiences and world-class attractions while providing a ‘sneak peek’ of what’s in store for visitors in 2018 during a roadshow in Kuwait. Miral CEO, […]

Global and GCC markets close first month of 2018 on a positive note

Posted by on 07/02/2018
Filed under Business

Global and GCC markets close first month of 2018 on a positive note

Global and GCC markets close first month of 2018 on a positive note

KUWAIT: Global equities have kicked off 2018 with positive performance for the most part. The MSCI All Country World Index is up 5.6 percent in January. In the US, Congress was unable to agree on a budget for 2018 resulting in a federal government shut-down. This was short lived as Congress moved to extend the […]

Ahli United Bank records a net profit of KD 44.5m for 2017

Posted by on 07/02/2018
Filed under Business

Ahli United Bank records a net profit of KD 44.5m for 2017

Ahli United Bank records a net profit of KD 44.5m for 2017

KUWAIT: Ahli United Bank K.S.C.P. (“AUB”) has announced a net profit of KD 44.5 million (2016: KD 40.3 million) for 2017. This was a net growth of 10.4 percent derived by strengthening the core earnings of the Bank and achieving a net finance income growth of 18 percent. The Bank achieved a growth in total […]

Global market panic fading; Kuwaitis lose big in bitcoin

Posted by on 06/02/2018
Filed under Business, Top Stories

Global market panic fading; Kuwaitis lose big in bitcoin

Global market panic fading; Kuwaitis lose big in bitcoin

LONDON/KUWAIT: A collective sigh of relief swept across global trading floors yesterday as bargain hunters swooped on Wall Street stocks, stemming a hemorrhage that had been spreading panic among investors. With Asian and European equity markets plunging, New York stocks started their trading day with another jaw-dropping fall as the Dow index dived nearly three […]

Kuwait oil output to hit 3.225m bpd by March

Posted by on 06/02/2018
Filed under Business, Top Stories

Kuwait oil output to hit 3.225m bpd by March

Kuwait oil output to hit 3.225m bpd by March

Production cut agreement helps balance market: Al-Rashidi KUWAIT: Kuwait’s oil production capacity will reach 3.255 million bpd by the end of next March, Kuwait’s Oil Minister and Minister of Electricity and Water Bakheet Al-Rashidi said. Al-Rashidi said in an interview with KUNA yesterday that the volume of Kuwaiti exports of crude oil is about 2.1 […]

ABK operating profit grows by 9.4% to KD 97.8 million in 2017

Posted by on 06/02/2018
Filed under Business

ABK operating profit grows by 9.4% to KD 97.8 million in 2017

ABK operating profit grows by 9.4% to KD 97.8 million in 2017

KUWAIT: Building on its strong business performance from last year, Al-Ahli Bank of Kuwait (ABK) yesterday announced its financial results for the fiscal year ended December 31, 2017. ABK grew its Operating Income by 6.4 percent, from KD 147 million to KD 157 million, and its Operating Profit by 9.4 percent, from KD 89.4 million […]

Kuwait’s real estate activity remained buoyant in 2017

Posted by on 06/02/2018
Filed under Business

Kuwait’s real estate activity remained buoyant in 2017

Kuwait’s real estate activity remained buoyant in 2017

Investment and commercial sectors fall behind KUWAIT: Activity in Kuwait’s residential sector was strong while the investment and commercial sectors fell behind. Overall activity improved as the number of transactions rose 6.5 percent to 4,524. However, sales decreased again in 2017 but a slower rate (6.9 percent; to KD 2.2 billion) than in the past […]

KAMCO wins ‘Best Kuwait Equity Fund’ by MENA FM

Posted by on 06/02/2018
Filed under Business

KAMCO wins ‘Best Kuwait Equity Fund’ by MENA FM

KAMCO wins ‘Best Kuwait Equity Fund’ by MENA FM

Recognition for consistent, outstanding, risk-adjusted fund performance KUWAIT: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, has won the prestigious “Best Kuwait Equity Fund” award from MENA Fund Manager Magazine (MENA FM), specializing in asset management within the MENA region. During the MENA FM award ceremony held […]

Zain receives 3 public relations and customer service awards

Posted by on 05/02/2018
Filed under Business

Zain receives 3 public relations and customer service awards

Zain receives 3 public relations and customer service awards

At Kuwait’s Public Relations and Customer Service Award KUWAIT: Zain, the leading telecommunications company in Kuwait, was awarded with three awards in the fields of public relations and customer service as part of Kuwait’s Public Relations and Customer Service Award for the year 2017. The event, hosted by Kuwait’s Public Relations Association, came under the […]

UK economy suffers slowdown in 2018

Posted by on 05/02/2018
Filed under Business

UK economy suffers slowdown in 2018

UK economy suffers slowdown in 2018

LONDON: Britain’s economy slowed sharply in January, according to a survey that cast doubt on growing expectations among investors that the Bank of England might be gearing up to raise interest rates again in the coming months. Sterling fell and British government bonds briefly rose after financial data firm IHS Markit said growth in the […]

NBK chosen for CIO 100 Awards by CNME magazine

Posted by on 05/02/2018
Filed under Business

NBK chosen for CIO 100 Awards by CNME magazine

NBK chosen for CIO 100 Awards by CNME magazine

Award confirms NBK’s leadership role in digital innovation   KUWAIT: Digital innovation has become a critical component of modern banking and at the forefront, leading this development in the Middle East, stands National Bank of Kuwait. NBK’s innovative digital solutions are reshaping banking at a time when more and more customers are seeking digital options […]