Home About Kuna Advertise Contact Us Kuna's Bureaus Services KUNA training center Term Of Use
Register Login
facebook Twitter Youtube rss
Florida man sentenced for threats against Miami mosque      Crown Prince Cup semifinal: Qadsiya v Al-Arabi, Al-Kuwait v Al-Naser      Trump extends emergency regarding terrorists who threaten Mideast peace process      Kuwaiti FM visits embassy in France      His Highness Amir receives call from US Pres.
  Economics
Major Kuwaiti investment group makes tangible investment strides in Tunisia
07/06/2007 | LOC11:50
08:50 GMT
| Arab News
تصغير الخطالشكل الأساسيتكبير الخط
Managing Director of the Bahrain-based United Gulf Bank, Mas'oud Hayat talking to KUNA Tunis
Managing Director of the Bahrain-based United Gulf Bank, Mas'oud Hayat talking to KUNA Tunis
By Nasser Mutair (with photos) TUNIS, June 7 (KUNA) -- A major Kuwaiti investment company has substantially expanded its operations in this north African Arab country with recents deals worth millions of US dollars, and seeks to gain a marked foothold on the local banking arena.
KIPCO, Kuwait Projects Company, which encompasses several investment branches and operations, made a major stride on the path of broadening its operations with the new North Africa Holding Company, founded sixth months ago. A week ago, the latter won a tender to buy 51 percent of stakes of the Tunisian Eelectromechanic Industries.
The USD 4.6 million transaction is a concrete example how KIPCO is seeking to bolster its investment operations in Tunisia, said Mas'oud Hayat, the managing director of the Bahrain-based United Gulf Bank, an affiliate of the group, in remarks to KUNA.
The holding company is currently pondering tenders for privatization of the Tunisian-Kuwaiti Bank and the Tunisian-French bank. The winning of these tenders, if it materializes, will be a further step in this direction, said Al-Hayat, who made the statement on the 25th anniversary of forming the International Tunisian Bank, another affiliate of KIPCO.
The Kuwaiti group is seeking to use its experience at home and the Gulf region, namely in the sectors of medical services, real-estate, investments and housing, to hunt for new investment opportunities in Tunisia and other countries in northern Africa.
KIPCO, of a 10,000-strong workforce in its web of operations worldwide, was incorporated in 1975. Since then, the company has grown substantially and made significant investments in diversified portfolios of companies. (end) nm.rk KUNA 071150 Jun 07NNNN
 Print
  Email
 Save
Share
Share
Kuwait
Photos from GCC Summit
Photos from GCC
share your photos Kuwait Vision
Vote for best photo for 2017

Kuwait Reader
Kuwait Vision
 
News Brief
 


KUNA publishes a book titled (His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah: A Humanitarian Leader) to commemorate the UN honoring of Kuwait's leader

 
Most Read Most Emailed  
1.   White House physician says Trump's mental, physical health "excellent"
2.   Kuwaiti oil price down 8 cents to USD 66.52 pb
3.   Kasbah of the Udayas... Amazing heritage site in Morocco
4.   Kuwaiti well-achievers visit Tangier's high-speed rail line
5.   USD stable against KD at 0.300, EUR at 0.368
6.   Photo of the day
 
 
kuna magazien

 
Publications

 
WEATHER
PRAYER
CURRENCIES
KUWAIT AIRPORT
About KUNA KUNA SERVICES USEFUL LINKS KUNA ARCHIVE KUNA PUBLICATIONS
Home
About Kuna
Advertise
Contact Us
Kuna's Bureaus
Services
KUNA training center
Term Of Use
Read The Whole Newscast
Pictures (during the week)
FTP Service
KUNA Reader
SMS Services
kuwait in memory of day
Job Application
Careers
Arab News Agencies
International News Agencies
Governmental Institutes
other useful links
Prayer Times
News Archive
Other News Services
Today In Kuwait's History
Events
Training Sessions
Videos
All KUNA right are reserved © 2012. This site is designed and published by IDS