Business

Al Sayer hosts Fikra program contestants – Partnership to empower new generation of entrepreneurs

KUWAIT CITY, Feb 7: In support of the strategic CSR commitment towards national youth, who are pillars of sustainable development for the nation, Mohamed Naser Al Sayer & Sons and Lexus a subsidiary of ALSAYER Holding hosted ambitious finalists of the 3rd edition Fikra program at Lexus Center Shuwaikh as …

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X-cite by Alghanim Electronics receives three customer service awards – Retailer recognized with Best Social Media, Best Online Store and Best Call Center awards

KUWAIT CITY, Feb 7: X-cite by Alghanim Electronics, Kuwait’s largest electronic retailer, was recognized by the Kuwaiti Public Relations Association as having the Best Social Media Channel, Online Store and Call Center in the retail electronics sector in 2017. The event, under the patronage of His Highness the Amir Sheikh …

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‘Kuwait’s oil output capacity to hit 3.225 mbpd’ – Al-Zour refinery project to be completed in 2019: Al-Rasheedi

KUWAIT CITY, Feb 6, (KUNA): 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-Rasheedi said. Al-Rasheedi said in an interview with Kuwait News Agency (KUNA) on Tuesday that the volume of Kuwaiti exports …

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Residential sector sales stable – Activity up in 2017, but sectoral growth uneven

Activity in the residential sector was strong while the investment and commercial sectors fell behind. Overall activity improved as the number of transactions rose 6.5% to 4,524. However, sales decreased again in 2017 but a slower rate (6.9%; to KD 2.2 billion) than in the past two years. While residential …

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ABK operating profit up 9.4% to KD 97.8mn in its 50th year of operations in the region – Bank reports KD 35.7 million net profit for 2017, up 10 percent; EPS 22 fils

KUWAIT CITY, Feb 6: Building on its strong business performance from last year, Al Ahli Bank of Kuwait (ABK) today announced its financial results for the fiscal year ended Dec 31, 2017. ABK grew its Operating Income by 6.4%, from KD 147 million to KD 157 million, and its Operating …

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Zain receives three public relations and customer service awards – Company honored at Kuwait’s Public Relations and Customer Service Prize for 2017

KUWAIT CITY, Feb 5: 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 Prize for the year 2017. The prize, hosted by Kuwait’s Public Relations Association, came under the …

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EQUATE posts $1.13b net profit, up 66% y/y – EBITDA up 47% to $1.73bn in 2017

KUWAIT CITY, Feb 5: EQUATE Group, a global petrochemical producer, reported its 2017 financial results. The Group reported an EBITDA of $1.73 billion, up 47 percent from last year, and a net profit of $1.13 billion for 2017, up by 66 percent from the previous year. The EQUATE Group combines …

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Global successfully complete sale of property in the UK – Company achieves total return of 23.6% internal rate of return of 10.55%

KUWAIT CITY, Feb 4: 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 that its real estate asset management team has successfully completed the sale of a property owned by its clients within …

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KFH Capital says arranges $1 bln sukuk issue for DIB – Issuance growth projected in Q1: Al-Haddad

KUWAIT CITY, Feb 4: Chief Investment Banking Officer of KFH Capital, investment arm of KFH Group (KFH), Abdullah Al-Haddad said that KFH Capital has succeeded in arranging the issuance of $1 billion sukuk for Dubai Islamic Bank. As one of the lead arranger, KFH arranged the sukuk issuance of Dubai …

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Kuwait rating affirmed … Outlook stable

KUWAIT CITY, Feb 3, (KUNA): Standard & Poor’s (S&P) has affirmed its credit rating AA/A-1+ for the State of Kuwait with stable outlook. The world ratings agency said in a press release that the stable outlook reflects its expectation that Kuwait’s public and external balance sheets will remain strong over …

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