12 May 2008
KUWAIT CITY: Central Bank of Kuwait has approved the request of Osoul Leasing Finance Company for the extension for a period of six months to buy 10 per cent of its issued shares. The six months period from the date of expiry of the current approval on June 4, 2008 provided the company adheres to the Central Bank's controls and conditions on contributing to the company's own shares, in addition to the need to adhere to the provisions of article 115 of the Business Companies Act and the provisions of Ministerial Resolution No. 10, in 1987, as amending by resolutions ministerial No. 11 for in 1988 No. 273 for in 1999.
Abyaar Real Estate Development Company reported to have sold a number of plots located in Dubai, where the value of the plots amount to KD 7,893,000. The company made a profit of KD 4,541,000. This profit will be reflected on the profitability of financial statements for the second quarter of fiscal year 2008.
Kuwait Cement Company reported that it had signed a contract for the supply of major equipment to the second pipeline project to produce clinker, which includes the furnace and attachments enables to one of the European equate companies at the value of 76,370,000 euros or KD 31,800,000 will be awarded for the civil works and construction of the project at a later date.
It is also noted that the company's annual production capacity of the new line will be increased by two million and five hundred thousand tons of the year added to the current energy furnace clinker, rising to nearly five million tons of the year, note that it is expected to begin production line In 2010.
KUWAIT CITY: Central Bank of Kuwait has approved the request of Osoul Leasing Finance Company for the extension for a period of six months to buy 10 per cent of its issued shares. The six months period from the date of expiry of the current approval on June 4, 2008 provided the company adheres to the Central Bank's controls and conditions on contributing to the company's own shares, in addition to the need to adhere to the provisions of article 115 of the Business Companies Act and the provisions of Ministerial Resolution No. 10, in 1987, as amending by resolutions ministerial No. 11 for in 1988 No. 273 for in 1999.
Abyaar Real Estate Development Company reported to have sold a number of plots located in Dubai, where the value of the plots amount to KD 7,893,000. The company made a profit of KD 4,541,000. This profit will be reflected on the profitability of financial statements for the second quarter of fiscal year 2008.
Kuwait Cement Company reported that it had signed a contract for the supply of major equipment to the second pipeline project to produce clinker, which includes the furnace and attachments enables to one of the European equate companies at the value of 76,370,000 euros or KD 31,800,000 will be awarded for the civil works and construction of the project at a later date.
It is also noted that the company's annual production capacity of the new line will be increased by two million and five hundred thousand tons of the year added to the current energy furnace clinker, rising to nearly five million tons of the year, note that it is expected to begin production line In 2010.
© Arab Times 2008
