Kuwait, Iraq close to deal
Published Date: August 10, 2010
KUWAIT: Kuwait and Iraq are expected to reach an agreement soon setting guidelines for investing in oilfields which cross their desert border, a newspaper reported yesterday. The Al-Jarida daily said in an unsourced report that a committee from the two countries met on Sunday in Kuwait to discuss the matter and an agreement was imminent. The newspaper said Kuwait and Iraq will delegate a "third party" it did not name to determine the size of these fields and each country's share in them.
Zain profits soar
KUWAIT: Kuwait's Zain, the Gulf Arab region's third-largest telecoms group by value, announced an almost fivefold rise in first half net profits, spurred by its sale of African assets. Net profit in the first half was KD 895.3 million, Zain said in the statement yesterday. "With the sale of the Zain Africa assets now concluded, coupled with a healthy cash balance and reduced debt levels, the company is now well positioned to focus on, and further grow, its profitable Middle East operations," Chairman Asaad
Al-Banwan said in a statement yesterday. (See Page 21)
Dar not up for liquidation
KUWAIT: Kuwait's Investment Dar, which owns half of British carmaker Aston Martin, is not up for liquidation as it moves ahead with a restructuring plan, its chairman said yesterday. "This company is not up for liquidation. If it were, we would have liquidated it a long time ago," Adan Al-Musallam told reporters after an extraordinary shareholders meeting. He said the firm invested in hard assets and said he was confident Dar will "make a strong comeback" after restructuring.
http://www.kuwaittimes.net/read_news...M0NTI5NDE2Ng==
Published Date: August 10, 2010
KUWAIT: Kuwait and Iraq are expected to reach an agreement soon setting guidelines for investing in oilfields which cross their desert border, a newspaper reported yesterday. The Al-Jarida daily said in an unsourced report that a committee from the two countries met on Sunday in Kuwait to discuss the matter and an agreement was imminent. The newspaper said Kuwait and Iraq will delegate a "third party" it did not name to determine the size of these fields and each country's share in them.
Zain profits soar
KUWAIT: Kuwait's Zain, the Gulf Arab region's third-largest telecoms group by value, announced an almost fivefold rise in first half net profits, spurred by its sale of African assets. Net profit in the first half was KD 895.3 million, Zain said in the statement yesterday. "With the sale of the Zain Africa assets now concluded, coupled with a healthy cash balance and reduced debt levels, the company is now well positioned to focus on, and further grow, its profitable Middle East operations," Chairman Asaad
Al-Banwan said in a statement yesterday. (See Page 21)
Dar not up for liquidation
KUWAIT: Kuwait's Investment Dar, which owns half of British carmaker Aston Martin, is not up for liquidation as it moves ahead with a restructuring plan, its chairman said yesterday. "This company is not up for liquidation. If it were, we would have liquidated it a long time ago," Adan Al-Musallam told reporters after an extraordinary shareholders meeting. He said the firm invested in hard assets and said he was confident Dar will "make a strong comeback" after restructuring.
http://www.kuwaittimes.net/read_news...M0NTI5NDE2Ng==
