says company s Vice Chairman Kuwait City, 15 April, 2021: At its Annual Shafafiyah Transparency Investors Forum, KIPCO - the Kuwait Projects Company (Holding) - said that it would remain guarded about 2021, as it closely monitors the impact of the ongoing COVID-19 pandemic on business. At the company s investors forum, KIPCO presented a review of its activities in 2020 and its outlook for 2021. In line with the health authorities guidelines regarding social distancing, the event was broadcast live to an audience of shareholders, financial analysts and institutional investors. Annual General Assembly The forum followed the company s General Assembly meeting where KIPCO s shareholders approved a cash dividend of 5% (5 fils per share). An Extraordinary General Assembly was also held, during which the shareholders agreed to raise the company s authorized capital from KD 200 million to KD 30
GCC corporate profits hit 5-year low in 2020: Report
KUWAIT, 3 hours, 35 minutes ago Hit by the Covid-19 pandemic, earnings reported by GCC-listed companies declined to a five-year low to $91.3 billion in 2020 as compared to $150.5 billion during 2019, marking a 39.3% decrease, a report said. The $ 59.2 billion decline came mainly on the back of decline in profits for Aramco (by $ 38.9 billion or 44.1% y-o-y) followed by banking, real estate and materials sectors, said Kamco Invest, a regional non-banking financial powerhouse headquartered in Kuwait, in its “GCC Corporate Earnings Report : FY-2020”. The three sectors accounted for 85% of the decline in net profits for the year, when excluding net profits for Aramco.
GCC Companies Profits Plummet to 5-Year Low In 2020 albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
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