Mercedes-Benz offers perfect range of Coupes, Cabriolets ...

BUSINESS

TUESDAY, JANUARY 20, 2015

Mercedes-Benz offers perfect range

of Coupes, Cabriolets and Roadsters

KUWAIT: Mercedes-Benz dream cars have long been the objects of desire for car enthusiasts, with their sporty character, technological innovations and promise of performance. A R Albisher and Z Alkazemi Company, the exclusive general distributor of Mercedes-Benz in Kuwait has a wide range of Coup?s, Cabriolets and Roadsters waiting to be enjoyed this season, as Middle Eastern weather finds a comfortable balance perfect for open air driving.

"Nothing evokes the feeling of being alive quite like the experience of driving a Mercedes-Benz dream car. Our

Coup?s, Cabriolets and Roadsters are built to be enjoyed, and with our perfect mild weather right now, taking to the open road with the top down is nothing short of perfect," said Michael Ruehle, CEO of Abdul Rahman Albisher & Zaid Alkazemi Company.

Mercedes-Benz Coupes are the epitome of elegance and sportiness in automotive design. The versatile and compelling range of two and four door CLS, S-Class, C-Class and E-Class Coupes offer seductive and sporty profiles, high performance engines capable of catapultlike acceleration and high quality interi-

ors epitomising modern luxury. There are few cars on the road that leave an impression like a coupe, even more so an AMG coup?. The CLA 45 AMG - the all new 4 door coupe offers a near sports car drive thanks to its 4MATIC all-wheeldrive system and the most powerful series-production four cylinder engine in the world. Alongside that, the S 65 AMG Coupe housing a monster V12 engine, and the CLS 63 with its twin-turbo 5.5-liter V-8 and seven-speed automatic solidify Mercedes-Bens AMGs coupes as a formidable range in the automotive industry.

Like its Coupe counterpart, the EClass Cabriolet is as stunning to look at as it is exceptional to drive. The chisled muscular design commands attention from the sweeping headlamps to the sleek tail. The four-seater soft-top takes open-top motoring to a new level, with an abundance of power and wind deflectors ensuring maximum comfort and enjoyment even for rear passengers.

In the hard top convertible category, Mercedes-Benz Roadsters are without parallel. The SL and SLK ranges are iconic amongst sports car enthusiasts, with

their sporty suspension and dynamic handling promising a performance par excellence. The lightweight alluminium body of the SL 63 AMG plus the SLK 55 AMGs eight cylinder engine offer maximum performance and minimum consumption levels, characteristic of AMG. Whatever the model, open air enjoyment is never far away as the vario-roof disappears in less than 20 seconds.

A full range of Mercedes-Benz Coup?s, Cabriolets andRoadsters, including AMG models,are available at Albisher &Alkazemi Co's Shuwaikh Showroom.

Burgan Bank announces 6th youth draw account winner

KUWAIT: Burgan Bank recently announced Shaikha Khaled Abdulla Sabah Al-Naser Al-Sabah as the sixth winner of the new Youth Account draw that entitles young customers to double their student allowances and win an additional KD 200 every month after transferring their allowance to the "Youth" account.

With the introduction of the Youth Account draw, customers transferring their student allowances to the bank will be automatically enrolled into a draw, whereby for every KD 20 in their Youth Account, customers will be given a chance to win a cash prize of KD 200 every month. Customers wishing to take part in this draw are advised to transfer their educational allowance to Burgan Bank's Youth account and enjoy their multiple chances of winning.

The bank 's Youth Account was launched for young individuals, around the ages of 15 to 25, who seek to attain

a successful future. There is no KD limit to open an account, and no minimum balance required to maintain it. Furthermore, account holders receive free prepaid card and an ATM card which entitles them to discounts at selected merchants.

Established in 1977, Burgan Bank is the youngest commercial Bank and third largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base. Burgan Bank has five majority owned subsidiaries, which include Jordan Kuwait Bank, Gulf Bank Algeria, Burgan Bank - Turkey, Bank of Baghdad, Tunis International Bank, in which Burgan Bank owns a majority stake. Burgan Bank Group has one of the largest regional branch networks with more than 231 branches across Kuwait, Turkey, Jordan, Algeria, Iraq, Tunis, Lebanon and Palestine.

NBK gold sponsor of first Petroleum Economist

Hydrocarbons Strategy Forum

KUWAIT: National Bank of Kuwait (NBK) is the Gold Sponsor of the first Petroleum Economist Hydrocarbons Strategy Forum titled "Cooperation: The Gulf 's new imperative".

The Forum, co-hosted by Kuwait Petroleum Corporation (KPC), will take place on Wednesday 21st January, 2015 under the patronage of His Excellency Dr Ali Saleh Al-Omair, Minister of Oil and Minister of State for National Assembly Affairs.

The forum will provide insight of the impact of oil prices drop on Kuwait and GCC economis from high profile speakers including Aldo Flores-Quiroga, Secretary General, International Energy Forum (IEF), Mohammad Al-Ramahi, Minister of oil and gas, Sultanate of Oman, Nizar AlAdsani, Deputy Chairman and Chief Executive Director, Kuwait Petroleum Corporation (KPC). Pradeep Handa, NBK General Manager, Foreign Corporate, Oil and Trade Finance Group will speak at the "Financing challenges and opportu-

nities" panel. NBK's participation in this forum comes in line with its commitment to deploy all its potentials and expertise to support Kuwait's oil sector. NBK has been the banking partner of choice for Kuwait's oil sector and enjoys historical relationships with many leading oil companies in the forefront KPC and all its subsidiaries.

NBK is the largest financial institution in Kuwait and has been consistently awarded the highest credit rating in the region from Moody's, Standard & Poor's, and Fitch Ratings. NBK also stands out in terms of its local and international network, which includes branches, subsidiaries and representative offices in China, Geneva, London, Paris, New York, and Singapore alongside its regional presence in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE. NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region.

Air Arabia enters China

Three scheduled weekly flights from Feb 10

SHARJAH: Air Arabia will create another piece of history next month when it becomes the first low-cost airline from the Middle East and Africa to enter the Chinese market. Starting on February 10, 2015, the carrier will fly regular non-stop services to Urumqi, the largest city in Western China.

Located in the Xinjiang district of China, Urumqi is a modern industrial city of 3.3 million people and a major transportation hub in the region. It has been described as the gateway to the vast region of Xinjiang, which offers some of the best bazaars, hiking, outdoor sports and natural beauty in the country, as well as being the location of large oil and natural gas reserves.

"The Chinese aviation sector has witnessed tremendous growth in recent years and we are delighted to be the first low-cost carrier from

the MENA region to play an important role in this incredible story," said Adel A. Ali, Group Chief Executive Officer, Air Arabia. "We have had our eye on the Chinese market for some time and are now ready to begin regular services to one of the world's great economies. With a large population, strong economy and vibrant cultural scene, Urumqi represents an exciting first Chinese destination for us and we hope to add more routes over time. This is a major move for Air Arabia and an important step in strengthening connectivity between the rapidly growing economies of the Middle East and Asia."

Air Arabia will fly three times weekly to Urumqi from its main hub in Sharjah, UAE. Flights will depart Sharjah International Airport on Tuesdays, Fridays and Sundays at 09:35, arriving at Urumqi International Airport at 18:15 that evening. Return flights will leave Urumqi on the

same days at 19:05 and arrive in Sharjah at 20:45.

The flight schedule will slightly change between March 29 and October 24, 2015 as flights will depart Sharjah International Airport at 09:05, arriving at Urumqi International Airport at 18:10. Meanwhile, return flights will leave Urumqi on the same days at 19:05 and arrive in Sharjah at 20:20.

In recent times, Air Arabia, the newly voted the Low Cost Carrier (LCC) of the year by Aviation Business, has seen its flight network expand with the addition on new routes, such as Cairo in Egypt and Antalya in Turkey, from its main base at Sharjah International Airport. The carrier currently operates from five international hubs, including the UAE (Sharjah &Ras alKhaimah), Morocco, Egypt and the most recent addition in Amman, Jordan.

Al-Mazaya Holding posts 34.7%

profit leap by 2014 end: Al-Nafisi

KUWAIT: Al-Mazaya Holding Company announced its financial results achieved by end of 2014, following a board meeting held on Sunday, Jan 18, 2015. Chairman of the Board, Rashid Jacob Al-Nafisi presided the meeting, with the presence of the Board Members and CEO of the Group.

Following the meeting, Rashid AlNafisi , the chairman of the company said : "Throughout 2014, Al-Mazaya holding continued to achieve positive leaps in its financial results. The company achieved a net profit of KD 8.086 million by the end of 2014, compared to KD 6.001 million end of 2013, with13.05 fils per-share profitability, compared to 9.69 fils pershare profitability by virtue of the company's focus on operational activities increasing the occupancy rate in its income-generating projects, which ultimately led to an increase in the rental revenues of the company by 33.7 percent, valued at KD 5.303 million by end of 2014, as compared to KD 3.965millionachieved in 2013. This included the Sky Gardens Project in Dubai International Financial Centre, in which the occupancy rate reached 99 percent, and Al-Mazaya Towers at the heart of the Kuwaiti capital which is 100 percent leased now. Not to mention Al-Mazaya projects in a number of the GCC countries such as the KSA and Dubai, in which the company occupancy rates totalled100 percent".

As for other project-sale activities of the Company, Al-Nafisi stressed Mazaya was able to achieve good

revenues from the sale of the final stage the residential villas of "The Villa" Project in Dubai Land. This is in addition to selling major parts of the second stage of "Queue Point" residential Projectat Al-liwan which will be considered upon handing over the project to clients. And the Office Spaces Project at "Mazaya Business Avenue", with revenues earned from the sale operations amounting to KD 10.969 million, achieving operating revenues amounting to KD 16.665 million by end of 2014.

Financial results Speaking of the company's financial results materialized by end of 2014, Al-Nafisi said:"The Company was able to maintain steady growth in its operational performance and net profit, in line with its carefully designed smart objectives". Reviewing the remaining details of the company's financial statements last year, he pointed out that: "By end of 2014, the company's total assets amounted to KD 261.889 million, compared to KD 228.116 million during 2013, with 14.8 percent increase. The shareholders' equity added up to KD 107.755 million end of 2014, compared to KD 97.167 million for 2013, representing a 10.9 percent increase.

The 2014 achievements: As for Al-Mazaya's major accom-

plishments during 2014, CEO, Eng. Ibrahim Abdul Rahman Al-Saq'abi said on this occasion:

? Al-Mazaya announced its entry

into the Turkish Real-Estate Market,

Ibrahim Abdul Rahman Al-Saq'abi

by establishing a Turkish company "Mazaya Turkey Real-Estate Investment" and appointing a CEO, in a promising step to geographically expand and benefit from the promising investment opportunities in the new market.

? Al-Mazaya signed an Alliance

Agreement with one of the giant real-estate development companies in Istanbul, whereby Al-Mazaya develops joint ventures, taking advantage of the experience and position of the Turkish company in the Turkish real-estate market.

? The company managed to push

forward the timetable for all underimplementation projects, in line with Al Mazaya Logistics Bahrain- a group of industrial units available for rent in Bahrain Investment Port, worth more than KD 6 million - in order to speed up the operating / leasing operations,

Rashid Al-Nafisi

hoping to positively impact company revenues. The project is now 100 percent completed and is being leased. The company also achieved positive results implementing "Queue-Point" Project in Dubai Land consisting of 38plots being currently under implementation. The Project so far exceeded 75 percent of its implementation processes while numerous residential units have been already delivered.

* Al-Mazaya owned a new land in "Sabah Al-Salem" area in Kuwait which spans for 2,000 mat a strategic location in order to build a sophisticated medical center in line with "Clover" Medical Project at AlJabriyah. Al-Mazaya announced a contest to Engineering Offices to come up with an original drawing for the Project and accordingly, assigned the selected Engineering Office to commence the design and implementation processes.

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