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Monday , December 10 2018

Business

Govt spending key driver of Kuwait construction sector – One of the few countries in GCC spending money after 2008 economic slump: experts

KUWAIT CITY, May 16: Kuwait is probably one of the few countries in the GCC that is spending money after the 2008 economic slump, says Senior Vice President at Hill International Middle East Jeff Badman. In a report published by constructionweekonline.com Sunday, Badman pointed out that Kuwait was booming in …

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Kuwait index extends losses; volume drops – Americana dives 80 fils; KIPCO gains

KUWAIT CITY, May 16: Kuwait stocks headed south on Monday extending the losses to second session. The price index dropped 27.56 pts to  5,384.14 pts amid selling in select counters. The banks  remained mostly muted whereas other heavyweights closed mixed. The KSX 15 benchmark eased 2.31 pts to 842.69 points …

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Gulf Bank posts KD 8.8 mln net profit in Q1 – Total assets up by KD 65 mln to KD 5,459 million

KUWAIT CITY, May 16: Gulf Bank announced a net profit of KD 8.8 million in Q1 2016.  This figure is down by KD 1 million year over year.  Operating income increased by KD 2.5 million or 6% to 44 million compared to Q1 2015. Furthermore, operating profit before provisions/ impairments …

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KIPCO holds its annual achievement awards – UFM named ‘Group Best Company of Year 2016’

KUWAIT CITY, May 16: KIPCO — the Kuwait Projects Company — has announced the winners of its annual achievement awards. The awards were presented by KIPCO’s Board Member, HE Abdullah Bishara, and Group Chief Operating Officer, Samer Khanachet, at the company’s 10th Annual Gala Dinner which took place in the Sheikha …

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ABK named ‘Best Commercial Bank in Kuwait’ – CEO Accad wins ‘Banker of the Year’ award from the Banker ME

KUWAIT CITY, May 15: Al Ahli Bank of Kuwait (ABK) recently announced that it received the ‘Best Commercial Bank in Kuwait’ award by  Banker ME, which also named ABK’s Chief Executive Officer, Michel Accad, ‘Banker of the Year’, presenting the Bank with two prestigious awards. The award ceremony was held …

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KIB wins prestigious award from WUAB – Al-Dawli named ‘Best Islamic Bank with Diversified Services and Innovative Products’

KUWAIT CITY, May 15: Kuwait International Bank (KIB) continues its proven track record locally and regionally by adding a new triumph to its achievements; the “Best Islamic Bank with Diversified Services and Innovative Products” instituted by the World Union of Arab Bankers, which brings together more than 500 members from …

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Kuwait’s index retreats 19.81 pts; volume dips – Americana dives 80 fils; KFH ticks up

KUWAIT CITY, May 15: Kuwait stocks swung lower on Sunday after eking modest gains during the previous week. The price index pared back steeper early losses to close 19.81 pts down at 5,375.7 points weighed by selling in some of the mid and small caps. The trading board was mixed …

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NBK’s Board of Directors OKs 6.5 pct capital increase – Subscription period set to start on May 18, and close on June 16

KUWAIT CITY, May 15: National Bank of Kuwait announced that its Board of Directors approved calling-in the bank’s planned 6.5 percent rights issue with the subscription period set to start on Wednesday, May 18, 2016 and to conclude with the close of business on Thursday, June 16, 2016. The subscription …

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NREC Q1 net profit up 9.8 pct to KD 3.6 mln – EBITDA rises 1.9% to KD 4.5 mln in first quarter

KUWAIT CITY, May 14: National Real Estate Company (NREC), a leading regional developer with development projects exceeding $1 billion in Egypt and the UAE, announced first quarter net profits of KD 3.6 million, an increase of 9.8% from the same period last year. The company’s positive outlook for bottom-line growth …

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ABK posts operating profit of KD 22.1 mln in Q1 – Total assets up 26.3% to KD 4.5bn; EPS 5 fils

KUWAIT CITY, May 14: Al Ahli Bank of Kuwait (ABK) today announced an operating profit of KD 22.1 million for the first quarter of 2016, after a one-off investment loss of KD 2.3 million on investments disposal, compared to KD 21.8 million for the corresponding period in 2015. Net profit …

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