Business

Al Habtoor announces exclusive promotion for GCC nationals at ‘The Residence Collection’

Pay 50 pc for apartments now … rest over 10 years interest free DUBAI, May 15: Khalaf Ahmad Al Habtoor, Founding Chairman, Al Habtoor Group has launched a special promotion for GCC nationals for the sale of homes at UAE’s luxury landmark in the heart of Dubai, The Residence Collection …

Read More »

GCC urged to cope with global economic moves

‘Youth role vital in development’ KUWAIT CITY, May 14, (KUNA): Kuwaiti Minister of Finance Nayef Al-Hajraf said on Monday it is significant for GCC countries to keep abreast of swift world economic development through uniform economic visions. Addressing the oneday meeting of the GCC Financial and Economic Cooperation Committee, held …

Read More »

KIPCO reports net profit of KD 5.64mn for Q1

Total revenue rises 13% to KD 171mn KUWAIT CITY, May 13: 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 percent over the …

Read More »

German online bank ‘uses’ Bitcoins to transfer loans

BERLIN, May 13, (RTRS): German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin. Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost. “Traditional money transfers …

Read More »

US, UAE strike deal to resolve airline spat

WASHINGTON, May 12, (AP): The United States and the United Arab Emirates signed a deal Friday to resolve a years-old spat over alleged Emirati government subsidies to its airlines and accusations of unfair competition in the US. After months of negotiations, a deal was reached that was carefully constructed to …

Read More »

VIVA reports KD 77.6mn of revenues for Q1, a growth of 13.9 pct; net profit KD 11.6mn

Company achieves EBITDA of KD 18mn; customer base reaches 2.32 million KUWAIT CITY, May 10: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the first quarter ended on March 31, 2018; whereby VIVA’s revenues grew to reach KD 77.6 million recording a growth of 13.9% …

Read More »

Zain Q1 net profi t rises 7% to KD 41 mln

Revenue grows 5% to reach KD 259mn; Kuwait and Iraq operations perform strongly in quarter: Al-Kharafi KUWAIT CITY, May 10: 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 March 31, 2018. …

Read More »

EQUATE Q1 net profit rises 41% to $435mn

EBITDA up 22% to $577mn uateKUWAIT CITY, May 9: 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 …

Read More »

Housing market in Kuwait poised to boom in Q2 of ’18

KUWAIT CITY, May 9, (KUNA): Despite mixed performance in the first quarter of 2018, the various sectors of the property market in Kuwait, particularly the housing one, are projected to recover in the current quarter, experts agreed on Wednesday. The new housing areas such as Al-Metla, East Sulaibikhat, Sabah Al-Ahmad …

Read More »

Issue of unspent excess funds is affecting local banks again

No legal cover to renew or recycle the bonds KUWAIT CITY, May 9: The issue of unspent excess fund has been affecting the local banks again. It is not about the decline in rate of facilities allocated for development project this time around, but due to government’s move to cash …

Read More »
Translate »