Thursday , September 20 2018

Business

Afro-Asian Economic Council unveils world visit Kuwait 2019 initiative

Plan to attract up to six million visitors to Kuwait CAIRO, May 5, (KUNA): The Afro-Asian Economic Council (AAEC) on Thursday unveiled an initiative under the slogan of “the world visits Kuwait 2019.” The initiative was launched at press conference at the end of the AAEC sustainable development conference themed …

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KGL AGM proposes 5% dividend, 15% bonus shares

Company considering new expansion for its business in region KUWAIT CITY, May 5: The Board of Directors of Kuwait and Gulf Link Transport Company (KGL) met on Thursday and approved the financial statements for the year ended Dec 31, 2017. The company’s revenues amounted to KD 64.8 million. The total …

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IFSB successfully organises lecture on financial policy, stability

KUWAIT CITY, May 5: The Islamic Financial Services Board (IFSB) successfully organised the IFSB’s 10th Public Lecture on Financial Policy and Stability on May 1, 2018 in Kuwait City, Kuwait, in conjunction with the IFSB Annual Meetings 2018. The IFSB Annual Meetings 2018 is hosted by the Central Bank of …

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Saudi Arabia launches $34.7 billion entertainment revolution

Riyadh, May 4, 2018 (AFP) – After repealing a decades-long ban on cinemas only last year, Saudi Arabia has now launched an ambitious drive to become a culture and entertainment hub as part of sweeping modernisation plans. American film star Katie Holmes and British actor-cum-director Idris Elba rubbed shoulders with …

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Egypt announces new oil discovery in Western Desert

CAIRO, May 3 (KUNA) — Egyptian Minister of Petroleum and Mineral Resources Tariq Al-Mulla announced Thursday a new oil discovery in the Western Deseret, 103 Kilometers north of Siwa Oasis. In a statement, the Egyptian Ministry of Petroleum said the discovery comes after the Italian energy company (Eni) inspection tests …

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KIPIC hosts annual ‘Oil Sector Leaders Townhall’

Al-Zour Refinery to provide 45pc of Kuwait’s refining capacity KUWAIT CITY, May 3: KIPIC has hosted the annual open “Oil Sector Leaders Townhall” 2018, under the theme “Work in harmony and integrity, chart the future.” The senior oil officials had a field visit to KIPIC’s three mega projects, Al-Zour Refinery, …

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Fitch affirms Kuwait at ‘AA’; outlook stable

Agency expects state budget to post surplus of KD 900 mln, 2.4% of GDP KUWAIT CITY, May 2, (KUNA): Fitch Ratings has affirmed Kuwait’s sovereign credit for 2018 at “AA” with a stable outlook, the agency said Wednesday. Kuwait’s key credit strengths are its exceptionally strong fiscal and external metrics, …

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Global reports financial results for Q1

Company posts KD 3.9 mln revenues, KD 1.6 mln net profit KUWAIT CITY, May 2: Global Investment House (‘Global’ or the ‘Company’), a regional asset management and investment banking firm headquartered in Kuwait, with offices in major capital markets in the MENA region, today announced its financial results for the …

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IMF warns Arab states against complacency over debt

Dubai, May 2, 2018 (AFP) -The International Monetary Fund on Wednesday warned Arab states against complacency over a looming debt crisis, urging continued economic reforms despite a rise in oil prices. Crude prices have rebounded in the region thanks to a deal by producers to trim production, but the IMF …

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Gulf Bank posts 15% rise in Q1 net profit

Net interest income soars 23% to KD 36.8 million KUWAIT CITY, May 1: Gulf Bank KSCP announced its financial results for the first quarter of 2018. The Bank recorded a net profit of KD 10.8 million, an increase of 15 percent over the same period in 2017. The Bank generated …

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