DOCSLIB.ORG

Annual Review 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Annual Review 2012 The Dar al-Athar al-Islamiyyah is one of Kuwait’s leading cultural organizations and home to the al-Sabah Islamic art collection – acknowledged as one of the world’s finest collections of Islamic art. The collection consists of over 30,000 priceless objects, including manuscripts, scientific instruments, carpets, fabrics, jewelry, ceramics, ivory, metalwork and glass dating from the seventh century CE from countries such as Spain, India, China and Iran. This year, the annual reports of KIPCO Group companies each feature a different key glassware artifact from the al-Sabah collection. The images used within the reports reflect KIPCO’s commitment to protecting and promoting Kuwait’s heritage, while helping to build the nation’s future. The item pictured here is a glass mosque lamp made in Egypt during the early fourteenth century CE. The piece is gilded and enameled glass and was commissioned by the amir Husayn Abi Bakr for a mosque in Cairo. The image is reproduced with the kind permission of the Dar al-Athar al-Islamiyyah. Contents 1 Executive Summary 2012 2 Debt profile & credit ratings 3 Financial statements highlights 3 KIPCO Group: by geography and sector 4 KIPCO and key listed subsidiaries: performance measures 4 KIPCO vs KSE index 5 KIPCO valuation metrics 6 KIPCO Group companies: by sector 12 Letter from the Board of Directors 14 Management Report 21 Board of Directors 22 Executive Management H.H. Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Amir of the State of Kuwait H.H. Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah Crown Prince of the State of Kuwait Executive Summary 2012 KIPCO: The KIPCO Group is one of the largest holding companies in KIPCO’s financial services interests include holdings in the Middle East and North Africa, with consolidated assets of commercial banks, asset management and investment banking, US$ 26 billion. The Group has significant ownership interests and insurance companies. The Group’s core operations in this in a portfolio of more than 60 companies operating across 24 sector include Burgan Bank, United Gulf Bank and Gulf Insurance countries. The Group’s main business sectors are financial Company. In the media sector, the Group has joint control of the services, media, manufacturing and real estate. Through its core OSN, the leading pay-TV operator in the region. companies, subsidiaries and affiliates, KIPCO also has interests in the education and healthcare sectors. Key achievements in 2012: Burgan Bank Group buys Eurobank Tefken: the KD 99 Gulf Insurance celebrates 50 years: the company marked million (US$ 352 million) deal is the latest stage in Burgan’s its golden anniversary with the formation of the Gulf Insurance development as a major regional banking group Group OSN increases revenue and earnings: the MENA region’s United Real Estate successful exit: KIPCO’s real estate leading pay-TV company increased revenue by 33% and company sold an investment in Lebanon for a profit of KD EBITDA by 439% 21 million (US$ 76 million) 2012 financial results summary: KIPCO reported a profit of KD 31.3 million (US$ 111.3 million) of KD 443 million (US$ 1.6 billion) were a 26% increase on for 2012 - its twenty first consecutive year of profitability and the KD 351 million (US$ 1.3 billion) reported in 2011. KIPCO’s subject to aproval - its eleventh consecutive year of paying consolidated assets also increased in the year to KD 7.2 billion shareholder dividends. The company’s total revenues in 2012 (US$ 25.6 billion) from KD 5.8 billion (US$ 20.8 billion) in 2011. 24 37 45 30 31 440 399 408 351 443 KD millionsKD KD millionsKD Net profit - revenuesTotal - 08 09 10 11 12 08 09 10 11 12 544 544 560 574 576 5.2 5.3 5.7 5.8 7.2 KD millionsKD KD billionsKD Shareholders’ equity - Assets - 08 09 10 11 12 08 09 10 11 12 1 KIPCO: parent 2012 Debt profile (in KD million) Cash position 285 118 179 Debt maturity(1): 2012 2-4 years 55% over 4 years 45% 10 11 12 Gross debt 528 348 399 Debt type: 2012 International bonds 70% KD bonds 20% Bank loans 10% 10 11 12 Net debt 243 230 220 10 11 12 KIPCO credit ratings: Rating agency Short-term rating Long-term rating Outlook Standard & Poor’s A3 BBB- Stable Moody’s Prime 3 Baa3 Negative Capital Standards BBB+ A+KW Stable Notes: (1) In January 2013, KIPCO extended the debt maturity of a term loan to January 2018. The data reflects this maturity extension. 2 Financial Statements Highlights 2012 2008 2009 2010 2011 2012 (Restated)(1) Consolidated Balance sheet KD millions Cash in hand and at banks 972.0 1,027.7 1,143.8 960.1 1,002.7 Treasury bills & bonds 387.4 417.1 467.0 419.1 483.6 Investment in associates 238.9 252.1 328.0 325.4 366.8 Investment properties 7.0 54.5 336.1 368.4 398.0 Other investments 357.6 356.0 302.6 317.4 398.0 Other assets (inc. goodwill & intangibles) 3,245.1 3,219.4 3,083.7 3,459.9 4,535.9 Total assets 5,208.0 5,326.8 5,661.2 5,850.3 7,185.0 Debt 3,971.7 4,100.0 4,367.9 4,547.5 5,764.2 Other liabilities 362.6 358.8 281.3 264.0 349.1 Shareholders’ equity 543.8 544.3 560.0 574.2 576.3 Non-controlling interest 329.9 323.7 452.1 464.6 495.3 Consolidated Income statement KD millions Investment income 53.0 72.7 95.4 31.8 65.7 Share of results of associates (3.0) (1.1) 4.9 8.3 7.8 Digital satellite network services income 52.9 57.5 46.8 49.5 77.0 Hospitality and real estate income - - - 23.5 37.0 Other revenues 332.5 264.1 232.9 238.1 255.7 Profit from discontinued operations 4.9 6.1 28.2 - - Total revenues 440.3 399.3 408.2 351.2 443.2 Total expenses 397.9 352.2 346.2 286.3 369.0 Non-controlling interest 18.3 10.2 17.0 34.9 42.9 Net profit 24.1 36.9 45.0 30.0 31.3 Earnings Per Share Fils(2) 17.95 29.86 36.31 24.14 24.23 KIPCO Group: by geography & sector Assets by geography Revenue by geography Kuwait 50% Kuwait 49% Rest of GCC 15% Rest of GCC 18% Rest of MENA 29% Rest of MENA 31% Europe 5% Europe 1% North America 1% North America 1% Total assets by sector(3): US$26 billion Total revenues by sector(3): US$1.58 billion Commercial banking 78% Commercial banking 57% (4) (4) AMIB 8% AMIB 7% Insurance 1% Insurance 1% Media 3% Media 17% Industrial 2% Industrial 2% Leisure & real estate 7% Leisure & real estate 15% Others 1% Others 1% Notes: (1) Please refer to Note 11 in the full 2010 financial statements for 2009 restatement details. (2) Historic EPS data have been adjusted due to issuance of bonus shares in 2008, 2010, 2011 and 2012. (3) Sector percentages have been calculated before inter-company eliminations. (4) AMIB: Asset management and investment banking. 3 KIPCO and key listed subsidiaries:performance measures Total shareholder’s return CAGR(1): 2002-2012(2) 1.9% 0.0% 16.3% 13.5% 16.7% 31.3% UIC URC Burgan Bank UGB GIC KIPCO Book value CAGR(3): 2002-2012 9.7% 10.1% 12.0% 17.1% 12.4% 20.5% UIC URC Burgan Bank UGB GIC KIPCO KIPCO vs Kuwait Stock Exchange Index (KSE): 2001-2012 1120 1040 KIPCO Rebased 960 KSE Rebased 880 800 720 640 560 480 400 320 240 160 80 0 01 02 02 02 03 03 03 04 04 04 05 05 05 06 06 06 07 07 08 08 09 09 10 10 11 11 11 12 12 12 Source: KAMCO (Dec. 2012) Notes: (1)Compounded annual growth rate. (2)Represents shareholders returns including dividends, bonus issue adjustment for rights issues and other corporate actions during the holding period. (3)Book value growth calculated by considering no dividends paid and adjustments for other corporate actions. 4 KIPCO: valuation metrics Price to book ratio 2012(1) 0.5x 0.7x 1.7x 0.9x 1.3x 0.9x UIC URC Burgan Bank UGB GIC KIPCO Net asset value The net asset value table below is based upon a ‘sum of the parts’ valuation. Two scenarios are shown: the ‘base case’ and the ‘with control premium’. Under the ‘base case’ scenario, KIPCO’s quoted investments are calculated at the prevailing year-end price. The ‘with control premium’ scenario assumes the prevailing year-end price for quoted stocks, raised by 50%. This is shown for illustrative purposes, because historically, when KIPCO has sold assets it has achieved a higher or similar level of premium pricing. In both scenarios, OSN’s value is based upon KIPCO’s 60.4% stake of the company’s appraised value when the Showtime and Orbit merger took place in August 2009(2). Base case With Control Premuim(2) 2012 2011 2012 2011 KD Per share KD Per Share KD Per share KD Per Share mn (Fils) mn (Fils) mn (Fils) mn (Fils) United Gulf Bank 116 90 140 112 173 134 210 168 Burgan Bank 335 259 286 229 503 389 429 343 Gulf Insurance Co. 38 29 39 31 57 44 58 46 United Industries Co.
Recommended publications
  • Major Events Related to Kuwait's Amir in 2019

    Major Events Related to Kuwait's Amir in 2019

    2 Established 1961 Local Sunday, December 29, 2019 Major events related to Kuwait’s Amir in 2019 RIYADH: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah attends the opening session of the 40th Gulf Summit in Riyadh on December 10, 2019. —KUNA KUWAIT: His Highness the Amir of Kuwait Sheikh attended the graduation ceremony for Kuwait attended a ceremony to honor distinguished teachers who later in the same day apologized and asked His Sabah Al-Ahmad Al-Jaber Al-Sabah participated in University’s 48th batch of graduate students for the and schools, marking World Teacher’s Day. Highness the Amir he did not wish to be assigned. many events and sponsored others throughout 2019, academic year (2017-18). April 29: His Highness the Amir sponsored and November 18: His Highness the Amir relieved from while also attending major conferences. The following March 13: His Highness the Amir patronized and attended inaugurate the ‘Salam Palace’ museum. their posts First Deputy Premier and Defense Minister are major events related to His Highness the Amir in attended the national youth project ‘Kuwait is proud’ May 1: His Highness the Amir attended the inaugura- Sheikh Nasser Sabah Al-Ahmad Al-Sabah, and Deputy 2019: ceremony at Bayan Palace. tion of Jaber Al-Ahmad Causeway. Premier and Interior Minister Sheikh Khaled Jarrah Al- January 15: His Highness the Amir Sheikh Sabah Al- March 25: His Highness the Amir attended a ceremo- May 27: His Highness the Amir delivered a speech on Sabah. He assigned Deputy Premier and Foreign Ahmad Al-Jaber Al-Sabah attended Kuwait interna- ny to honor outstanding students of the Public the occasion of the last 10 days of Ramadan underlining Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah to tional anti-corruption conference (Integrity for Authority for Applied Education and Training for the the delicate situation currently, and said cautiousness run affairs of the Defense Ministry, while assigning Development).
  • List of Asian Cuisines

    List of Asian Cuisines

    List of Asian cuisines PDF generated using the open source mwlib toolkit. See http://code.pediapress.com/ for more information. PDF generated at: Wed, 26 Mar 2014 23:07:10 UTC Contents Articles Asian cuisine 1 List of Asian cuisines 7 References Article Sources and Contributors 21 Image Sources, Licenses and Contributors 22 Article Licenses License 25 Asian cuisine 1 Asian cuisine Asian cuisine styles can be broken down into several tiny regional styles that have rooted the peoples and cultures of those regions. The major types can be roughly defined as: East Asian with its origins in Imperial China and now encompassing modern Japan and the Korean peninsula; Southeast Asian which encompasses Cambodia, Laos, Thailand, Vietnam, Brunei, Indonesia, Malaysia, Singapore, and the Philippines; South Asian states that are made up of India, Burma, Sri Lanka, Bangladesh and Pakistan as well as several other countries in this region of the Vietnamese meal, in Asian culture food often serves as the centerpiece of social continent; Central Asian and Middle gatherings Eastern. Terminology "Asian cuisine" most often refers to East Asian cuisine (Chinese, Japanese, and Korean), Southeast Asian cuisine and South Asian cuisine. In much of Asia, the term does not include the area's native cuisines. For example, in Hong Kong and mainland China, Asian cuisine is a general umbrella term for Japanese cuisine, Korean cuisine, Filipino cuisine, Thai cuisine, Vietnamese cuisine, Malaysian and Singaporean cuisine, and Indonesian cuisine; but Chinese cuisine and Indian cuisine are excluded. The term Asian cuisine might also be used to Indonesian cuisine address the eating establishments that offer a wide array of Asian dishes without rigid cuisine boundaries; such as selling satay, gyoza or lumpia for an appetizer, som tam, rojak or gado-gado for salad, offering chicken teriyaki, nasi goreng or beef rendang as the main course, tom yam and laksa as soup, and cendol or ogura ice for dessert.
  • Q8 Food Festival Kicks Off at Mishref Fairgrounds

    Q8 Food Festival Kicks Off at Mishref Fairgrounds

    MARCH, FEBRUARY 6, 2015 24 25 ofKing Spice sizzles in Kuwait Q8 Food Festival kicks off at Mishref By Maryann Horne KT: Where did these spices come from and how did they end up being used here? Fairgrounds elebrity chef Reza Mahammad has specialized in connecting RM: Historically, the Arabs had a monopoly over the spice trade for thousands of years. They places through tastes and his sizzling palette of dishes. Bet- used to trade most commonly with cinnamon along with other spices. That is what Arabs intro- By Maryann Horne ter known as the Spice King, the Indian chef is cooking up a duced into India. When you look at India, you see it is across the Arabian Sea and therefore the C culture is influenced by what Arabs brought and ate. For Arabs doing trade, spices were central storm in Kuwait this week-end with his food demonstrations as part Q8 Food Festival is taking place from March 5th to and they monopolized this trade. They then introduced spices into Europe, which at the time of the new Q8 Food Festival. The flamboyant food historian, author were hugely valuable commodities. This resulted in a mix where Indian food for example has 7th at the Mishref Fairgrounds. Organizers say it is and owner of the London restaurant Star of India hosts one of the the richest spices, Arab food has different varied spices with different usages. In Kuwait there the biggest consumer food festival ever to come to most popular TV series on Food Network called ‘The Spice Prince of is also a very strong influence of spices from Iran and Persian cuisine.
  • Final KK.Indd

    Final KK.Indd

    ÊàààI 2.750 KD êuAæUOÑWDK WÑuAÇ KD âÇb(ÇWÑu 2.450 رﺑـﻴـﺎن ﻣـﺸـﻮي ﻋﻠــﻰ اﻟـﻔـﺤـﻢ ﻣﻊ اﻟﺨﺲ واﻟﺠﺮﺟﻴﺮ واﻟﺠﺰر وﺻﻠﺼﺔ ﺧﻨﻴﻦ. ﺷﻮرﺑﺔ ﺛﻤـﺎر اﻟﺒﺤﺮ ﻣﻊ اﻟﻔﻄﺮ اﻟﻄﺎزج واﻟﻜﺮﻳﻤﺔ واﻟﺰﻋﻔﺮان. KD ÈèdUÑUO 1.150 KD dDHÇWÑu 1.950 روب ﻣﻊ ﻟﺒﻨﺔ وﺧﻴﺎر وﻧﻌﻨﺎع. ﺷﻮرﺑﺔ ﻓﻄﺮ اﻟﺒﻮرﺗﺒﻴﻠﻮ واﻟﻔﻄﺮ اﻟﻄﺎزج ﻣﻊ اﻟﻜﺮﻳﻤﺔ. ÉÏÑUÊI 1.150 KD ÓbWÑu ﺷﻮرﺑﺔ اﻟﻌﺪس واﻟﺸﻌﺮﻳﺔ. KD VMâÑè 2.000 ورق ﻋﻨﺐ ﺣﺎﻣﺾ ﺣﻠﻮ. ÊUDK Ç 1.200 KD WMODUhL 1.250 KD XOÇWDK ﺧـﺲ، ﺧﻴـﺎر، ﻃــﻤـﺎط، ﺑﻘـﺪوﻧـﺲ، ﻧـﻌـﻨـﺎع، زﻳﺖ اﻟﺰﻳﺘﻮن وﺧﻞ. 1.350 KD 5M q 1.500 KD ÔuWDK ﺳﻠﻄـﺔ اﻟـﺒﻴﺖ ﻣﻀـﺎف إﻟﻴﻬﺎ اﻟﻔﺠﻞ، ﺛﻮم، ﺑﻘﻞ، ﺳﻤﺎق وﺧﺒﺰ ﻣﺤﻤﺺ. ﻃﺤﻴﻨﺔ ﺑﻴـﻀﺎء وروب وﺑﺎذﻧــﺠﺎن ﻣﺸـــﻮي وﺑﻘﺪوﻧﺲ وزﻳﺖ اﻟﺰﻳﺘﻮن. ÈèdUÉÏd 2.350 KD UJWDK ﻃﺤﻴﻨﺔ ﺑﻴﻀﺎء ﻣﻊ روب وﻋﺼﻴـﺮ اﻟﻠﻴﻤــﻮن وزﻳﺖ اﻟﺰﻳﺘﻮن. KD 1.250 ﺳﻴﺦ ﺗﻜﺎ وﻟﻮﻣﻲ أو دﺟﺎج ﻣﺸﻮي ﺣﺴﺐ اﻟﻄﻠﺐ ﻣﻊ ﺟﺮﺟﻴﺮ، ﻃﻤﺎط وﺻﻠﺼﺔ ﺧﻨﻴﻦ. @اﺿﺎﻓﺔ ﺳﻴﺦ ﺗﻜﺎ وﻟﻮﻣﻲ أو دﺟﺎج ﻣﺸﻮي ﺣﺴﺐ اﻟﻄﻠﺐ. KD 0.750 WM U ÊI 2.750 KD ÍUbÇÉb 1.500 KD V ﺗﺸﻜﻴﻠﺔ ﻣﻦ ﻛﺒﺔ اﻟﺒﻄﺎط وﻛﺒﺔ اﻟﻌﻴﺶ وﻛﺒﺔ اﻟﺒﺮﻏﻞ. ﻛﺒﺪة اﻟﺪﺟﺎح اﻟﻄﺎزﺟﺔ اﻟﻤﻘﻠﻴﺔ ﺑﺰﻳﺖ اﻟﺰﻳﺘﻮن ﻣﻊ اﻟﺒﺼﻞ، اﻟﺒﻘﺪوﻧﺲ وﺻﻠﺼﺔ دﺑﺲ اﻟﺮﻣﺎن. 2.750 KD WuA`Çu 1.000 KD ÑUC)Çp uL رﻗﺎﺋﻖ اﻟﻌﺠﻴﻦ، ﻣﺰﻳﺞ اﻟﺨﻀﺎر واﻟﻤﻠﺢ واﻟﻔﻠﻔﻞ اRﺳﻮد، وﻣﺰﻳﺞ اﻟﺘﻮاﺑﻞ. ﺟﻮاﻧﺢ دﺟﺎج ﻃﺎزﺟﺔ ﻣﺸﻮﻳﺔ ﻋﻠﻰ اﻟﻔﺤـﻢ وﻣﺘﺒﻠﺔ ﺑﺎﻟﻜﺰﺑﺮة واﻟﺜﻮم. 2.250 KD ÓubU`Çu 1.250 KD 6'Çp uL رﻗﺎﺋﻖ اﻟﻌﺠﻴﻦ، ﺟﺒﻨﺔ اﻟﻔﻴﺘﺎ، وﻧﻌﻨﺎع. ﺟﻮاﻧﺢ دﺟﺎج ﻃﺎزﺟــﺔ ﻣﺘﺒﻠــﺔ ﺑﺎﻟﺪﻗــﻮس اﻟﺤــﺎر. 5.000 KD ÊULBIUæUOÑ 1.500 KD rKÇp uL رﻗﺎﺋﻖ اﻟﻌﺠﻴﻦ، واﻟﻠﺤﻢ اﻟﻤﻔﺮوم وﻣﺰﻳﺞ اﻟﺘﻮاﺑﻞ. رﺑﻴﺎن ﻃﺎزج ﻣﻘﻠﻲ ﻣﻊ اﻟﺒﻘﺼﻤﺎت، ﻳﻘﺪم ﻣﻊ ﻓﻄﺮ وﺟﺰر وﺑﻄﺎﻃﺎ ﻣﻘﻠﻴﺔ. 1.500 KD XOÇwUI ﺗﺸﻜﻴﻠﺔ ﻣﻘﺎﻟﻲ ﻣﻦ اﻟﺒﺎذﻧﺠﺎن واﻟﺒﻄﺎط واﻟﻔﻠﻔﻞ اﻟﺒﺎرد واﻟﻄﻤﺎط ﺗﻘﺪم ﻣﻊ اﻟﻄﺤﻴﻨﺔ.
  • Kuwaiti, Saudi Officials' Reciprocal Visits Prove Pivotal for Strengthening

    Kuwaiti, Saudi Officials' Reciprocal Visits Prove Pivotal for Strengthening

    2 Established 1961 Wednesday, June 2, 2021 Local Kuwaiti, Saudi officials’ reciprocal visits prove pivotal for strengthening ties This archive photo shows His Highness the Amir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah leaving Saudi KUWAIT: The late Saudi king Abdulaziz bin Abdulrahman Al-Saud is seen during a visit to Kuwait in 1910 in Arabia after he presided over the Kuwaiti delegation at the 41st Gulf Summit in January 2021. which he held talks with the late Amir Sheikh Mubarak Al-Sabah. KUWAIT: His Highness the Crown Prince Sheikh Kuwait and held his milestone talks with the then Amir than three years from 2017 to 2020, Kuwait exerted port the legitimate Yemeni government against the Mishal Al-Ahmad Al-Jaber Al-Sabah started yester- Sheikh Mubarak Al-Sabah. Since then, visits of leaders strenuous diplomatic efforts, which proved successful Iran-backed Houthi militia, and its firm condemnations day an official visit to the Kingdom of Saudi Arabia, and officials of the two sisterly countries did not stop. to heal the Gulf rift. Kuwait’s mediation had been of the Houthi attacks on the Saudi territories. Kuwait his first official overseas visit since his assumption to Last January, His Highness the Amir Sheikh Nawaf Al- admired and appreciated by the whole world. Saudi has also reiterated backing to the Saudi measures to post in October 2020. The choice of the Saudi Ahmad Al-Jaber Al-Sabah visited the Saudi Kingdom Arabia’s reception of Kuwaiti leaders and many of its stop these assaults in line with the international law.
  • Annual Report 2017 Annual Report 2017

    Annual Report 2017 Annual Report 2017

    ANNUAL REPORT 2017 ANNUAL REPORT 2017 Established on December 28, 1993 The authorized share capital and paid up KD 10,090,080 divided into 100,900,800 shares of 100 fils each. Head Office Al Hamra Tower, 18th Floor, Abdul Aziz Saqer Street, Sharq, Kuwait Tel.: +965 2228 6668 Fax: +965 22284006 Salt and Chlorine Plant Shuaiba Industrial Area Tel.: +965 2228 7009 Fax: +965 2228 4041 P.O.Box: 10277 , Shuaiba 65453, Kuwait [email protected] www.alkoutprojects.com 2 ANNUAL REPORT 2017 Kuwait UAE Our Customers Our Manufacturing Plant Facilities GROWING GLOBALLY 3 ANNUALANNUUAAL REPORTREEPORT 2017200117 His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah His Highness the Crown Prince of Kuwait Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah His Highness the Prime Minister of Kuwait Sheikh Jaber Mubarak Al Hamad Al-Sabah 4 ANNUALAANNNUUAL REPORTREPPOORRT 201720117 TABLE OF CONTENTS 06 Mission Statement 07 Board of Directors 08 Chairman’s Message 09 Management report 10 Sales and Marketing 11 Manufacturing Operations 12 Our Products 14 Our Operating Subsidiaries 16 Health, Safety and Environmental Management 18 Corporate governance internal audit committee & internal control system review reports 30 Consolidated Financial Statements 5 ANNUAL REPORT 2017 MISSION STATEMENT Al Kout Industrial Projects has now completed its 17 years of activities since acquiring the Salt and Chlorine Plant from Petrochemical Industries Company (PIC). Since its privatization the company has expanded the plant gradually by adding new machinery and equipment increasing its capacity to more than triple its original output. The company has included another chemical product which is used for oil well treatments.
  • 16,206 Citations Issued, 25 Cars Seized, 3 Get Jail in Traffic Raids Reckless Motorists, Serious Violators Targeted

    16,206 Citations Issued, 25 Cars Seized, 3 Get Jail in Traffic Raids Reckless Motorists, Serious Violators Targeted

    ARAB TIMES, THURSDAY, MAY 6, 2021 LOCAL 3 diwaniya A DIGEST OF PUBLIC OPINION Saudis on path of development ... and the diverse Kuwaiti cuisine “NO TWO people can disagree that the interview of His Royal Highness Prince “I do not know why I suddenly remembered the statement of the Secretary- national product and per capita share. Mohammad bin Salman was impressive for the entire world, and not only for General of the Supreme Council for Planning and Development, Dr. Khaled “In developing or third world countries, other indicators such as health and the countries of the region. Whatever our observations on some policies, we Mahdi when he said: ‘Because Kuwait is different, even Kuwaiti cuisine is educational services become a special feature to measure the development of must admit that the Kingdom is treading with confidence, and by figures, it different’. Were we not different perhaps we could catch up with the Gulf countries and test the extent of their progress. confirms and still not only aspiring to precede the countries of the region, but development, so congratulations for the Gulf, and we are proud of our broth- “The higher the quality of educational and health services, the better for rather also the developed countries in the world, which should be a project for ers.” citizens and expatriates who benefit from them. This contributed to their all the countries of the oil region,” columnist Asrar Hayat wrote for Al-Qabas faster growth. Among the most common development characteristics in third daily. Also: world countries, health and educational services are the new indicators to mea- “The meeting was not a random rhetoric and statements prepared in advance “Kuwait is still experiencing a crisis of confidence between the National sure development processes.
  • Constitutional Reform and Political Participation in the Gulf Khalaf, Abdulhadi

    Constitutional Reform and Political Participation in the Gulf Khalaf, Abdulhadi

    Constitutional Reform and Political Participation in the Gulf Khalaf, Abdulhadi; Luciani, Giacomo 2006 Link to publication Citation for published version (APA): Khalaf, A., & Luciani, G. (Eds.) (2006). Constitutional Reform and Political Participation in the Gulf. Gulf Research Center. http://www.grc.ae/?sec=Publications&home=0&sec_type=h&sub_opt=68&frm_show=1 Total number of authors: 2 General rights Unless other specific re-use rights are stated the following general rights apply: Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal Read more about Creative commons licenses: https://creativecommons.org/licenses/ Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim. LUND UNIVERSITY PO Box 117 221 00 Lund +46 46-222 00 00 Gulf Research Center 187 Oud Metha Tower, 11th Floor, 303 Sheikh Rashid Road, P. O. Box 80758, Dubai, United Arab Emirates. Tel.: +971 4 324 7770 Fax: +971 3 324 7771 E- mail: sales@ grc.ae Website: www. grc.ae “Constitutional Reform and Political Participation in the Gulf” first published March 2006 in Dubai, United Arab Emirates, by the Gulf Research Center.
  • Assembly Launches Probe Into Airbus Deal in Subdued Session

    Assembly Launches Probe Into Airbus Deal in Subdued Session

    JUMADA ALTHANI 26, 1441 AH THURSDAY, FEBRUARY 20, 2020 28 Pages Max 26º Min 15º 150 Fils Established 1961 ISSUE NO: 18066 The First Daily in the Arabian Gulf www.kuwaittimes.net Erdogan threatens ‘imminent’ Sick Kashmiris feel deadly Afghan artist brushes aside Pens top Leafs, jump 7 Turkish operation in Syria 9 consequences of blackout 19 disability to open arts center 28 Caps for first place Assembly launches probe into Airbus deal in subdued session Finance minister says govt keen to protect public money, fight corruption By B Izzak to raise the issue, said the names of Kuwait and a number ment’s keenness to protect public money and fight cor- of personalities were mentioned in the British court judg- ruption. He added if the probe results revealed any suspi- KUWAIT: In a quiet session yesterday - contrary to the ment, and accordingly “we must investigate the allega- cions, the government will not hesitate to take all legal previous day - the National Assembly formed a fact-find- tions”. “The Airbus deal case involves suspected financial measures and refer all those responsible to face justice. ing committee to investigate allegations of bribery in a crimes, conflict of interests, financial transactions and a In the settlement struck by Airbus in the British deal Kuwait Airways signed six years ago with aircraft suspicious involvement of an Arab middleman with court, it agreed to pay €3.6 billion ($3.9 billion) in fines manufacturer Airbus. The move comes as Airbus faces a Kuwaiti officials. Therefore we have to investigate and to Britain, France and the United States to settle cor- string of allegations from several countries of having paid probe with all government bodies related to the deal,” ruption probes into some of its aircraft sales.
  • Kuwait Kuwaiti Arabs in Kuwait

    Kuwait Kuwaiti Arabs in Kuwait

    FOUO Cultural Intelligence for Military Operations: Kuwait Kuwaiti Arabs in Kuwait Summary of Key Points • Kuwaiti Arabs comprise 45 percent (approximately 950,000) of the population in Kuwait. “Arab” is a name originally given to the nomadic inhabitants of the Arabian Peninsula. It is now largely a cultural/linguistic designation, embracing various national, regional, and religious groups in several different countries. • Kuwaiti Arabs tend to be dark-haired with brown eyes, and olive or dark skin. However, no single set of racial or physical characteristics defines Kuwaiti Arabs. Due to centuries of migration and contact with other groups, Kuwaitis can exhibit Persian, Turkish, Indian, African, and South Asian features. • Kuwaiti Arabs are predominantly Muslim. They are divided between Sunni (approximately 70 percent) and Shia (approximately 30 percent). The Sunni-Shia division has caused fewer problems in Kuwait than in neighboring states. For the most part, it has not undermined a sense of shared Kuwaiti Arab identity. • Kuwait is essentially a city-state. The majority of people live in Kuwait City, which has grown from a small sea-town into a modern, cosmopolitan city. There are smaller communities inland and to the south along the Gulf coast. • Kuwaiti Arabs trace their lineage to the Bani Utub tribe, which settled Kuwait in 1716. The journey to Kuwait established a strong sense of community and gave Kuwaitis the origins of a national identity. • Although Kuwaiti identity remains influenced by their nomadic heritage, Kuwaitis have been essentially settled for nearly 300 years. A center for maritime and desert trade, Kuwait was linked to the Arabian Peninsula, the Gulf, and India.
  • Barrak Rejects SUMMONS to Report for Interrogation

    Barrak Rejects SUMMONS to Report for Interrogation

    SUBSCRIPTION SUNDAY, JUNE 22, 2014 SHAABAN 24, 1435 AH www.kuwaittimes.net Ban’s Kuwaiti Klose equals advisor fears record as civil war Germany draw in Iraq with Ghana 2 20 SUPPLEMENT INSIDE Barrak rejects summons to Max 48º Min 31º report for interrogation High Tide 07:16 & 20:29 Feb 2012 National Assembly is legal: Tabtabaei Low Tide 00:57 & 14:08 40 PAGES NO: 16204 150 FILS By Staff Reporters KUWAIT: In a dramatic turn of events, prominent opposition leader Mussallam Al-Barrak said yesterday he has decided to decline a police summons for inter- rogation in a complaint filed by head of the Supreme Judicial Council Faisal Al-Marshed. Barrak said in a statement he received the summons two days ago and was asked to appear at the Criminal Investigation Department today at 9.00 am, and “after consultations with my legal team, I have decided to decline the sum- mons”. The former outspoken lawmaker listed several rea- sons for his action, raising a number of highly contro- versial and sensitive issues which could lead to police arresting and detaining him. Barrak claimed the sum- mons was against the law, “which stipulates that I should be told about the nature of the case filed and the name of the person who filed it”. “If I was sum- moned as a suspect, then the law stipulates that the Criminal Investigations Department should first sum- mon the complainant and hear his testimony before doing the same with the accused,” he added. The oppo- sition hardliner said that if the public prosecution issues a subpoena to summon him, he would react to it when it happens.

  • How This Company Is Growing F&B O Ering in Kuwait (

    Comment: Crisis Exclusive: 10 Experts opinion: How PepsiCo supports the TRENDING management from marketing tips for Meraas faces COVID19 the GCC’s travel and MENA region with USD ARTICLES adaptation to new hospitality businesses impact with economic tourism industry can 5M relief funds in business kick o during the COVID-19 (http://rwwwelief. phaockspaitgaelitynews get ready for the post- response to the COVID- strategies crisis faces-covid19-impact-with- COVID recovery 19 crisis Trending Experts opinion: How the GCC’s travel and tourism industry can get ready for the post-COVID recovery (http://www.hospitalitynewsmag.com/en/event/experts-opinio (http://www.hospitalitynewsmag.com/) (https://issuu.com/hospitalityservices/docs/hn128_- _medium?fr=sNGEyMjEyNjA0Mw) (https://www.facebook.com/HospitalityNewsME) (https://twitter.com/Hospitality_Mag) (https://www.linkedin.com/company/hospitality-news-middle- east) (https://www.instagram.com/hospitalitynewsme/) NEWS LODGING F&B SUPPLIERS EVENTS (HTTP://WWW.HOSPITALITYNEWSMAG.COM/EN/EVENT/CATEGORY/EVENTS/) DOWNLOAD THE MAGAZINE MY FAVORITES (HTTP://WWW.HOSPITALITYNEWSMAG.COM/MY-FAVORITES/) F&B (http://www.hospitalitynewsmag.com/en/event/category/fnb/) Featured News (http://www.hospitalitynewsmag.com/en/event/category/featured-news/) How this company is growing F&B oering in Kuwait (http://www.hospitalitynewsmag.com/en/event/f- b-oering-in-kuwait/) March 23, 2020 (http://www.hospitalitynewsmag.com/en/event/2020/03/23/) | By: Rana Freifer (http://www.hospitalitynewsmag.com/en/event/author/hospitadmin/) Share: In an exclusive interview with Hodema for HN, Jad Alameddine, director of food and beverage at Mohamed Nasser Al-Hajery & Sons, charts the company’s growth story and its expansion from Kuwait into Saudi Arabia How has Mohamed Nasser Al-Hajery & Sons expanded since its launch? Mohamed Nasser Al-Hajery was set up in 1946 and has continued to grow ever since.