NBK sees shareholders' rights rising to KD 1.6 bn
KUWAIT CITY: Executive Chairman of the National Bank of Kuwait expected the rights of the shareholders to increase from KD 915 million in 2007 to KD 1.6 billion in 2008, after increasing the bank's capital by 20 percent. Alliance led by Aayan Leasing and Investment Company is seeking to develop three real estate projects in Egypt worth between KD 15 to KD 20 million in New Egypt area, 6th of October, and Sheikh Zayed City. The Executive Management of the National Bank of Kuwait (NBK) has decided to grant a special cash Eid bonus to all NBK staff members in Kuwait in addition to all employees of international branches and subsidiaries on the occasion of the forthcoming Eid Al Fitr and in appreciation of the employees commitment, initiatives and unremitting efforts in serving the bank as well its clients and shareholders. It is worth mentioning that NBK's Management, has always observed all religious and national occasions to generously reward employees with cash bonuses as a token of appreciation for their commitment and sincere endeavors in serving the bank, as well as fostering the spirit of family amongst all NBK's employees of various levels inside Kuwait in addition to international branches and regional and international subsidiaries.
Mobile Telecommunications Company "Zain" got 3 advantages for the transfer of its headquarters to Bahrain. Firstly: Granting "Zain" land for a nominal rental to establish the company's headquarters, and also to establish a comprehensive communications center for the Middle East, will include training and development in this sector. Secondly: Granting "Zain" comprehensive tax exemption for "Zain" expected to reach 30 years. Thirdly: Providing facilities for residency, visas, and procedures in this regard.
Kuwait Stock Exchange (KSE) announces that Kuwait Real Estate Holding Company (Alaqaria) has accepted the resignation of Director Walid Abdul-Karim Al-Aziz with effect from Oct 1, 2007. Established in 1990 as Kuwait National Real Estate Services and Investment Company, Alaqaria transformed itself into a holding company in 2005 with subsidiaries operating in asset management, property management, property maintenance, project management, and cleaning and security services. The company's shares were listed at KSE in April 2005.
China National Aviation Fuel Holding (CNAF), China's near-monopoly jet fuel distributor, has agreed to cooperate with Kuwait's state oil firm on fuel supplies, a CNAF official said on Tuesday. CNAF and Kuwait Petroleum Corp, a major jet fuel exporter into Asia, had signed agreements on a strategic alliance and jet fuel cooperation early this month, the official said, adding that the parties had yet to hammer out concrete deals. It marks the Beijing-based company's second global alliance following a similar one signed in March with Russia's biggest oil producer, state-controlled Rosneft. CNAF is the parent of Singapore-listed China Aviation Oil, which controls the bulk of China's aviation fuel imports. Kuwait Petroleum Corp rarely supplies jet fuel directly to Chinese buyers. Jet fuel demand in China, the world's second-largest oil consumer, has been rising rapidly in recent years amid double-digit growth in the country's air traffic.
A unit of Jeeran Holding Co, United Gulf Co, is close to agreeing a contract worth 5 million (17.86 million) with an unidentified Qatari firm for insfrastructure works in Qatar, an-Nahar said in an unsourced report. (www.annaharkw.com)
Kuwait's Al Ahlia Holding completed the sale of its 49 percent stake in an real estate firm to a Bahraini unit of Kuwait Finance House, al-Rai said in an unsourced report (www.alraialaam.com).
Al Madar Finance & Investment's talks to buy land in Saudi Arabia have been put on hold because of Saudi bureaucracy, al-Wasat quoted its Chairman Nabil Amin as saying (www.alwasat.com.kw)
© Arab Times 2007
