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10-yr anniversary sees Zain KSA record its best profit of SAR 48m

Posted by on 29/10/2018
Filed under Business, Kuwait, Other News

10-yr anniversary sees Zain KSA record its best profit of SAR 48m

10-yr anniversary sees Zain KSA record its best profit of SAR 48m

RIYADH/KUWAIT: Zain Saudi Arabia (Zain KSA) has recorded its best-ever quarterly results since inception, for the three months ending Sept 30, 2018, with several key financial indicators showing record growth levels, reflecting the implementation of the operator’s turnaround strategy. This milestone was achieved as the company celebrated a decade of commercial operation of mobile voice […]

Kuwaiti businessmen invited to invest in Vietnam’s Ho Chi Minh City

Posted by on 29/10/2018
Filed under Business

Kuwaiti businessmen invited to invest in Vietnam’s Ho Chi Minh City

Kuwaiti businessmen invited to invest in Vietnam’s Ho Chi Minh City

Huge Vietnam refinery to propel private sector: KCCI KUWAIT: A delegation from Vietnam headed by Governor of Ho Chi Minh City Nguyen Thanh Phong visited the Kuwait Chamber of Commerce and Industry (KCCI) yesterday. The delegation was welcomed by KCCI board member Osama Mohammed Al-Nisf along with a number of Kuwaiti business personalities. In his […]

VIVA reports KD 37.4m net profit; a growth of 29.8%

Posted by on 29/10/2018
Filed under Business

VIVA reports KD 37.4m net profit; a growth of 29.8%

VIVA reports KD 37.4m net profit; a growth of 29.8%

Revenues during 9-month period ended 30 Sept 2018 reach KD 214.8 million KUWAIT: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the nine-month period ended 30 September 2018; whereby VIVA’s net profit grew to reach KD 37.4 million recording growth of 29.8 percent compared to the same period in 2017. […]

AUB reports 12.7% surge in net profit to $528.3m for 9 months

Posted by on 29/10/2018
Filed under Business

AUB reports 12.7% surge in net profit to $528.3m for 9 months

AUB reports 12.7% surge in net profit to $528.3m for 9 months

ROAE rose to 18.4%* Total assets at 30 Sept 2018 increased to $35.5bn KUWAIT: Ahli United Bank B.S.C. (AUB) reported a 12.7 percent increase in net profit attributable to its equity shareholders of $528.3 million for the nine months ended 30 September 2018 compared to the net profit of $468.7 million achieved in YTD Q3/2017. […]

Burgan Bank announces another strong quarter

Posted by on 29/10/2018
Filed under Business

Burgan Bank announces another strong quarter

Burgan Bank announces another strong quarter

Net income reaches KD 71.0 million in 9 months of 2018 with 32% growth YoY KUWAIT: Burgan Bank Group announced yesterday its nine months earnings for the financial year 2018 reporting a net income of KD 71.0 million ($235 million) with a growth of 32 percent year on year while during the third quarter of […]

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Posted by on 28/10/2018
Filed under Business

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Zain Group selected by Huawei to offer Huawei Cloud services in Kuwait, MENA

Al-Kharafi: Agreement bolsters Zain’s efforts in playing a key role in ‘New Kuwait 2035’ plan SHANGHAI/KUWAIT: Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa, has been selected by Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, to become a strategic […]

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

Posted by on 28/10/2018
Filed under Business, Subcontinent, World

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

Pakistan’s ‘penniless billionaires’ expose money laundering frenzy

KARACHI: It took rickshaw driver Mohammad Rasheed a year to save 300 rupees to buy his daughter a bike, so when he found three billion rupees ($22.5 million) had passed through an unused bank account in his name, he was stunned … and scared. “I started sweating and shivering,” said the 43-year-old — just the […]

Zain launches the all-new iPhone XR

Posted by on 27/10/2018
Filed under Business

Zain launches the all-new iPhone XR

Zain launches the all-new iPhone XR

Company celebrates launch with exclusive offer for youth customers KUWAIT: Zain, the leading digital service provider in Kuwait, launched the all-new iPhone XR during the special event it organized at MAYAR Complex. The event, held on Friday (26 October) from 5-10 pm, witnessed great numbers of crowds from Zain customers. The special event aimed at […]

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

Posted by on 27/10/2018
Filed under Business

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

ASDA’A BCW wins Gold Stevies for work on GEMS, Ford, Arab Youth Survey

KUWAIT: ASDA’A BCW continues its winning streak at the International Business Awards 2018 – known as ‘the Stevies’. The agency collected a total of 28 awards, with five Gold, 10 Silver and 12 Bronze medals in the PR Category, including a Gold for PR Agency of the Year for the Middle East region, and a […]

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

Posted by on 27/10/2018
Filed under Business

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

ASAR – Al-Ruwayeh & Partners bags IFLR Award for Kuwait for 10th year in a row

Recognized for innovation across country’s noteworthy deals KUWAIT: 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 a record 10th consecutive year received a national award presented by the International Financial Law Review (IFLR), the world’s […]

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Posted by on 27/10/2018
Filed under Business

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Ooredoo reports revenue of KD 502m for nine months ended 30 Sept 2018

Customer base up by 2% to reach almost 27 million KUWAIT: National Mobile Telecommunications Company K.S.C.P “Ooredoo” announced yesterday its financial results for the nine months ended 30 September 2018: Financial highlights: * Consolidated customer base increased by 2 percent to reach 26.6 million for the nine months ended 30 September 2018, compared to 26.1 […]

Saudis trumpet $56 bln deals

Posted by on 25/10/2018
Filed under Business, Top Stories

Saudis trumpet $56 bln deals

Saudis trumpet $56 bln deals

US to stay key part of Saudi economy despite boycott RIYADH: Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi. Over two dozen […]