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Thursday , November 15 2018

Business

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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Kuwait accounts for 6% of Islamic banking assets: Al-Awadhi

CBK proactive in strengthening supervision to ensure financial stability Following is the opening address by Waleed Al-Awadhi, Executive Director, Supervision Sector, Central Bank of Kuwait at the CBKIFSB conference on Islamic finance in Kuwait City. — Editor Excellencies, Governors of central banks and monetary authorities, Dr Bello Lawal Danabatta, Secretary- …

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Al-Tijari logs KD 10.1mn net profit for Q1 of 2018

Total assets reach KD 4,291 million KUWAIT CITY, May 1: Commercial Bank of Kuwait announced a net profit of KD 10.1 million for the first quarter of 2018, compared to KD 0.8 million for the same period of 2017. The bank witnessed a healthy growth in all the key areas …

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ABK net profit rises 18% in first quarter

Total assets reach KD 4.47 billion, up 3.6% KUWAIT CITY, April 30, (KUNA): Al Ahli Bank of Kuwait (ABK) today announced its financial results for the first quarter ended 31 March, 2018. Net Profit was KD 10.0 million, a healthy 18% increase over the same quarter last year. Earnings per …

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CBK-IFSB to hold Islamic finance conference on May 2

High-level confab to tackle key macro level issues on Islamic finance KUWAIT CITY, April 30: The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce the agenda for the upcoming CBK-IFSB Islamic finance conference held on May 2, 2018, in Kuwait City, under …

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Prince Alwaleed’s firm sells Movenpick Hotels to AccorHotels

DUBAI, April 30 (Reuters) – Prince Alwaleed bin Talal’s Kingdom Holding and its partners have agreed to sell Movenpick Hotels and Resorts to its associate firm AccorHotels . The deal is expected to close in the second half of 2018, Kingdom Holding said in a statement. Kingdom has a 5.7 …

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KFH reports KD 44 million net profit for Q1, 13.9% y/y rise; EPS 7.03 fils

Net financing income increases by 38.2% to KD 138.4 million for first quarter KUWAIT CITY, April 29: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that KFH has, by the grace of Allah, reported net profits of KD 43.97 million for the first quarter of 2018 for KFH …

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Vietnam refinery produces Octane 92: KPI

KUWAIT CITY, April 29, (KUNA): Kuwait Petroleum International (KPI) CEO Nabil Bourisli on Sunday said the Kuwaiti, Vietnamese and Japanese “Nghi Son Refinery” successfully produced Octane 92 petrol in line with the specifications of the Directorate for Standards, Metrology and Quality of Vietnam. The first shipment of Octane 92 petrol, …

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