Monday , October 23 2017

Business

KIB posts KD 7.6 mln net profit for Q1

Total assets higher by 7%; financial receivables rise by 10% KUWAIT CITY, April 15: Kuwait International Bank (KIB) reported a net profit of KD 7.6 million at the end of the first quarter of 2017, registering a growth of 13% compared to the corresponding period of the previous year, where …

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Forbes unveils 2017 rankings of World’s Richest Arabs

Prince Alwaleed remains top billionaire; Olayans are richest family DUBAI, UAE, April 13: Forbes Middle East unveils in its April issue its 2017 rankings of the World’s Richest Arabs and the Arab World’s Richest Families. Prince Alwaleed bin Talal remains at the top with an estimated net worth of $18.7 …

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Iran completes long-awaited ATR deal – First delivery likely in days

PARIS, April 13, (RTRS): Iran secured a contract with a third Western aircraft supplier on Thursday since the easing of sanctions by completing a deal to buy 20 regional turboprops from Europe’s ATR, part of an effort to modernise the nation’s creaking fleet. After months of talks that required navigating …

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Kuwait’s Alimtiaz raises $120 mln

DUBAI, April 12: Kuwait’s Alimtiaz Investment Group has raised $120 million from the sale of a 10 percent stake in education provider HumanSoft Holding which it plans to reinvest, Chief Executive Nawaf Marefitold Reuters. It plans to use the money to invest in sectors including education, healthcare and real estate, …

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Al-Sayer participates in ‘Move to Improve Youth Forum’

KUWAIT CITY, April 12: As part of the ongoing efforts by Al-Sayer Medical Company and CSR to enhance the healthcare of the Kuwait community, Al-Sayer Group Holding sponsored and participated in the 3rd Move to Improve Youth Forum under the patronage of Sheikha Zain Al-Sabah the Undersecretary to the Minister …

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Zain Saudi posts first-ever quarterly profit in Q1

Co revenues up 9% to SAR 1,919 million in Q1 RIYADH, April 12: Zain Saudi Arabia reported its first ever quarterly net profit for the three months ending March 31, 2017 driven by revenue growth and optimization of its operational cost structure. Key performance indicators for the first quarter Q1, …

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Saudis, oil majors discuss gas investments

LONDON/DUBAI, April 11, (RTRS): Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country’s drive to diversify investments before the listing of national energy giant Saudi Aramco. Saudi officials explored investment opportunities with firms including BP and …

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India offers $10b investment, $5 billion loan to Bangladesh

DHAKA, April 11, (RTRS): India will invest up to $10 billion in Bangladeshi sectors including infrastructure and medicine and will provide $5 billion in loans, including $500 million in military assistance, Prime Minister Sheikh Hasina said on Tuesday. Hasina returned to Bangladesh on Monday after a four-day state visit to …

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Boubyan Bank posts 17% rise in Q1 net profit

KUWAIT CITY, April 11: Boubyan Bank has recorded a net profit growth of 17 percent in Q1 2017. The bank’s net profits amounts to KD 10.7 million, with earning per share of 4.7 fils compared to 4 fils for the comparative period of 2016. Adel Abdul Wahab Al-Majed, the Bank’s …

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MRC, EQUATE sign 3-yr waste management contract

More than 20,000 tons of waste to be processed KUWAIT CITY, April 10: MRC — the leading eco industrial company in Kuwait, signed a three-year renewable agreement with EQUATE Petrochemical Company, a global producer of petrochemicals, to provide a valueadded waste management, logistics, recycling and marketing solution for EQUATE’s scrap. …

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