Weyay Bank offers KNPC cashback for SELECT cardholders
'The core idea behind launching the SELECT card and membership is to enhance the student experience and provide them with benefits that continuously evolve with their lifestyle,' stated Fawaz Al-Nakib, Campaign and Partnership Manager at Weyay Bank. 'Our collaboration with KNPC embodies this commitment by delivering tangible, direct offers that benefit students in their daily lives, particularly in transportation, which is a fundamental part of their routine.'
SELECT cardholders
In addition to the KNPC offer, SELECT cardholders continue to enjoy a wide array of exclusive benefits:
• Food Delivery Cashback: A 40 percent monthly cashback on orders placed through platforms like Jahez.
• Coffee Perks: 30 percent cashback on orders made via the Caribou Coffee app.
• Exclusive Telecom Offers: special, competitively priced packages from stc Telecom Company through the digital store within the Weyay app.
• Travel Discounts: Up to 10 percent on Economy and Premium Economy flights and 5 percent on Business Class when booking with Emirates Airline.
• Fitness Savings: discounts of up to 30 percent on gym memberships at popular fitness centers such as Flare Fitness and Shift Lagree.
All Weyay allowance customers can easily obtain the SELECT membership and card. A single step within the Weyay app activates the membership upon their first student allowance transfer and deposit into their Weyay account. SELECT cardholders can then immediately start using their digital card through the app, unlocking a new world of benefits with ease.
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Arab Times
26 minutes ago
- Arab Times
Kuwait, Saudi to deepen strategic ties
NEOM, Saudi Arabia, Aug 5: Saudi Crown Prince and Prime Minister Mohammad bin Salman Al Saud and His Highness the Prime Minister of Kuwait Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah held talks on Monday in the Saudi city of Neom on strengthening bilateral relations and expanding cooperation in a variety of domains. The talks were held during the Saudi Crown Prince's reception of the Kuwaiti Premier and his accompanying delegation on the occasion of their visit to the Kingdom of Saudi Arabia. At the onset of the meeting, His Highness the Prime Minister conveyed the greetings of His Highness the Amir Sheikh Meshal Al-Ahmad Al- Jaber Al-Sabah and His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah and their best wishes for the Kingdom of Saudi Arabia and its people. His Highness the Prime Minister and Saudi Crown Prince delved into the different aspects of the solid and close cooperation between the two sisterly countries and means for enhancing integration at all levels under the wise leadership of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, and their brothers in the Kingdom, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince and Prime Minister Mohammad bin Salman bin Abdulaziz Al Saud. They emphasised the importance of continuing close coordination and consultation to achieve the aspirations of the peoples of the two nations for further progress and prosperity. They affirmed keenness to advance bilateral historical and fraternal relations to broader horizons, deepening the strategic partnership and consolidating joint bilateral action Regional They discussed the latest regional and international developments of common concern, particularly the two countries' efforts to promote security and peace in the region and the world. From the Saudi side, the meeting was also attended by Ambassador of the Custodian of the Two Holy Mosques to the State of Kuwait Prince Sultan bin Saad bin Khaled Al Saud; Minister of State and Member of the Saudi Cabinet Prince Turki bin Mohammad bin Fahad Al Saud and Assistant Minister of Finance Hindi Al-Suhaimi; and Deputy Governor and Head of MENA Investments at the Public Investment Fund Yazeed A. Al-Humied. From the Kuwaiti side, the meeting was also attended by the Director General of the Kuwait Direct Investment Promotion Authority Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, and the Managing Director of the Kuwait Investment Authority Saud Salem Abdulaziz Al-Sabah. His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah and his accompanying delegation departed the Kingdom of Saudi Arabia after an official one-day visit on Monday. Departure His Highness was seen off by Saudi Minister of State and Member of the Cabinet Prince Turki bin Mohammad bin Fahad bin Abdulaziz Al Saud; Saudi Ambassador to Kuwait Prince Sultan bin Saad bin Khalid Al Saud; Acting Charge d'Affaires at the Embassy of the State of Kuwait to the Kingdom Hamad Ibrahim Al-Salloum; and Kuwait's Consul General in Jeddah and Permanent Representative to the Organization of Islamic Cooperation Yousef Abdullah Al-Tunaib. In a statement prior to his departure, His Highness the Prime Minister expressed his deep thanks and appreciation to the Kingdom of Saudi Arabia, its leadership, government, and people, for the warm welcome and generous hospitality he received during his visit, wishing the Kingdom further stability and prosperity. Meanwhile, earlier, His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah and his accompanying delegation arrived on Monday in the city of Neom for an official visit to the Kingdom of Saudi Arabia. Upon arrival, His Highness was received by the Saudi Minister of State and Cabinet Member; Prince Turki bin Mohammad bin Fahad bin Abdulaziz Al-Saud, Saudi Ambassador to Kuwait Prince Sultan bin Saad bin Khaled Al-Saud, Acting Charge d'Affaires at Kuwait's Embassy in Riyadh Hamad Ibrahim Al-Salloum, and Kuwait's Consul General in Jeddah and Permanent Representative to the Organization of Islamic Cooperation (OIC), Yousef Abdullah Al-Tunaib. In a statement upon arrival, His Highness the Prime Minister expressed great pride in visiting the Kingdom of Saudi Arabia, highlighting the deep-rooted historical ties and bilateral relations between Kuwait and Saudi Arabia. He emphasized that the visit represents a valuable opportunity to further strengthen the close relations and continue bilateral consultations on various issues serving the interests of both countries and their peoples. His Highness also praised the policies adopted by the Saudi leadership and government, as well as the Kingdom's prominent regional and international stances. (KUNA)
Arab Times
an hour ago
- Arab Times
The compassionate captain of Kuwait Airways
I did not expect to return to writing about Kuwait Airways so soon, but a message from a reader of my recent article in the Arab Times, along with an interview I came across with a former Kuwait Airways captain, compelled me to revisit the topic. The reader, a European, wrote, 'I read your article about Kuwait Airways in The Arab Times and appreciated its insight. I especially enjoyed the story about the dead horse. Your words resonated with me as both a regular flyer and someone working in aviation. 'I wanted to share this thought - We must learn from the experiences of other Gulf Cooperation Council countries. 'Their companies generate high profits and operate with clear efficiency. I work closely with them, and all have professional CEOs and management teams with extensive airline industry experience, drawn from a range of international backgrounds. 'The truth is that few industries are as global and professionally demanding as aviation, so airline management must be global in both mindset and expertise. 'I understand this may conflict with the goals of 'Kuwaitization,' but if the government wants to stop subsidizing a loss-making national carrier, while other Gulf airlines thrive, earn billions in profits, build strong reputations, and operate from world-class airports, then the only viable solution is to place the airline in the hands of professionals who adhere strictly to sound business rules.' I replied by saying I understood his perspective, and that I had previously advised more than one Kuwait Airways CEO to seek government approval to amend the regulations that prohibit hiring highly qualified foreign experts, even temporarily, until a capable Kuwaiti CEO can be trained to take over and manage the company efficiently before the foreign expert's contract ends. This is exactly what Kuwaiti banks did, and I personally witnessed both the foreign expertise phase and the rise of national talent. In the early days, most bank leadership teams were American, British, or French. But over time, and through proper training, dozens of outstanding Kuwaiti professionals emerged, including figures like Yousef Al-Awadhi, Yousef Al-Hussaini, Abdullah Al-Sumait, Adel Al-Majed, Imad Al-Saqr, Walid Mandani, and others. I apologize to those I may have unintentionally omitted. --- On another note, I recently listened to a podcast interview with a former Kuwait Airways captain. When asked by the host about the reasons behind the national carrier's decline in performance compared to other Gulf airlines, he responded without hesitation by explaining that he had served as a pilot at Kuwait Airways for 42 years, and described the company as one filled with compassion, warmth, and generosity. He emphasized that Kuwait Airways is not a profit-driven entity, but rather a service-oriented one. As an example, he pointed to the airline's humanitarian role during emergencies and natural disasters in various countries, where Kuwaiti citizens were stranded. In such cases, Kuwait Airways stepped in to rescue and return them home free of charge. He concluded by saying that Kuwait Airways is the best airline in the Gulf and proudly noted that it maintains a spotless safety record, unlike some of its regional counterparts. The captain either forgot or chose to overlook that his remarks amounted to an implicit criticism of the reputation and safety records of other Gulf airlines. By doing so, he suggested they lacked the 'love, compassion, and generosity' that Kuwait Airways reportedly shows, including failing to rescue their stranded citizens abroad. Moreover, his comparison of Kuwait Airways' safety record with those of other Gulf carriers was flawed, as if implying negligence on their part. This comparison is unfair and unrealistic. Naturally, there will be differences in performance and safety between an airline operating 20 or 30 aircraft and those managing fleets of hundreds. Kuwait Airways is our national carrier, and we all hope it achieves the highest standards. To do so, it needs to be privatized or at least granted its board of directors greater autonomy to hire international experts to manage the airline, without unnecessary interference by the relevant minister.
Kuwait Times
3 hours ago
- Kuwait Times
NBK-Egypt reports EGP 4.1 billion net profit in H1 2025, a y-o-y growth of 30%
KUWAIT: National Bank of Kuwait - Egypt (NBK-Egypt) has reported net profits of EGP 4.1 billion (equivalent to KD 25.65 million) for the first six months of 2025, a significant increase from the EGP 3.2 billion (Equivalent to KD 24.9 million) reported in the corresponding period of 2024, showcasing an impressive growth rate of 30 percent. Net Operating Income stood at EGP 7.7 billion in H1 2025, recording a substantial increase of 28 percent from EGP 6.1 billion recorded in the corresponding period of 2024. In the meantime, Net Interest Income grew by 31 percent, reaching EGP 6.7 billion compared to EGP 5.2 billion in H1 2024. Meanwhile, Net Operating Income (excluding interests) increased to EGP 199 million in H1 2025, compared to EGP 147 million in H1 2024, up by 35 percent, while Cost to Net Operating Income grew by1 percent in H1 2024 to 24 percent in H1 2025. Total assets reached EGP 206 billion by the end of H1 2025, up by 5 percent compared to EGP 196 billion by the end of 2024. Furthermore, total loans and credit facilities expanded to EGP 115 billion in H1 2025, reflecting a growth rate of 10 percent compared to EGP 104 billion recorded at the end of 2024. Additionally, customer deposits increased to EGP 166 billion by the end of 1H2025, up from EGP 160 billion at the end of 2024, representing a growth rate of 4 percent. The ratio of operating income to total net income increased to 87 percent as of H1 2025, compared to 85 percent in the corresponding period of 2024. Moreover, the Return on Average Assets (ROAA) improved to 4 percent in 1H2025, while the Return on Average Equity (ROAE) stood at 35 percent. Commenting on the financial results announced by NBK-Egypt, Shaikha Al-Bahar, Deputy Group Chief Executive Officer, National Bank of Kuwait, and Chairman of NBK-Egypt, said: 'The strong earnings growth achieved by NBK–Egypt in the first half of 2025 highlights the bank's solid financial standing and the enduring strength of its business model, which continues to generate sustainable profitability despite prevailing operational challenges. This performance stands as a testament to the Group's long-term strategic vision since its entry into the Egyptian market in 2007, reaffirming its confidence in the significant growth potential and strategic importance of one of the region's largest and most dynamic banking landscapes.' Al-Bahar affirmed that Egypt remains one of the Group's most prominent strategic markets, playing a role in driving growth, and is consistently regarded as its second home market. As the largest Kuwaiti investment in Egypt, NBK has established a clear and growing footprint within the Egyptian banking sector. The Bank ranks among the fastest-growing institutions in the market, a position reinforced by its robust financial indicators, which underscore its solid trajectory toward further expansion and enhanced market share. Furthermore, Al-Bahar emphasized that the Group views the Egyptian market as a long-term strategic investment and remains committed to expanding its presence. She noted that NBK's operations in Egypt continue to rank among the most profitable within the Group, consistently delivering high returns on equity and assets. Al-Bahar explained that the easing of geopolitical tensions in the region would significantly support the Egyptian economy and unlock greater investment opportunities. She also noted that the country's future outlook, continues to gain momentum from the ongoing reform efforts and the exceptional measures undertaken by the Egyptian government and the Central Bank of Egypt. Meanwhile, Vice Chairman, CEO, and Managing Director of National Bank of Kuwait-Egypt, Yasser El-Tayeb, said: 'The Bank's solid financial indicators in the first half of the year underscore its ability to sustain growth and deliver strong business results, despite the exceptional challenges facing the business environment on the local and global fronts due to ongoing political instability and its economic ramifications.' El-Tayeb emphasized that NBK–Egypt's growth remains well-balanced across all business lines, supported by efficiency and risk metrics aligned with both sustainable expansion and long-term resilience. He attributed this performance to the Bank's prudent policies and sound business model, which enable it to meet customer needs with agility and confidence. He added that the majority of NBK–Egypt's income is generated from credit operations, primarily through the corporate banking segment, while the retail banking sector has also witnessed notable growth in recent years. The Bank's credit portfolio spans a broad spectrum of clients, ranging from large corporations to medium and small enterprises, while its retail portfolio serves diverse customer segments. This breadth underscores the strength and diversification of NBK–Egypt's income sources. El-Tayeb emphasized the bank's commitment to further strengthening its position in the retail banking sector by offering advanced services and products tailored to diverse customer segments, aiming to establish itself as a comprehensive bank that fulfills all their financial needs. Furthermore, he also emphasized NBKE's firm belief in the pivotal role of technology and digital channels in shaping the future of the banking sector. Recognizing their importance in strengthening competitive advantage, NBK–Egypt has made substantial investments to upgrade its core banking systems and significantly expand its suite of digital services. These efforts are aimed at delivering a seamless and distinctive banking experience, enabling customers to carry out their transactions anytime, anywhere. In parallel, the Bank is committed to encouraging broader adoption of electronic payment methods, in alignment with the strategic direction of the Egyptian government and the Central Bank of Egypt. El-Tayeb emphasized that NBK–Egypt is committed to supporting the global shift toward sustainable finance and the transition to a green economy. The Bank actively backs environmentally responsible projects that promote sustainability and greater reliance on renewable energy sources. It also continues to explore viable solutions to mitigate the adverse impacts of climate change and reduce carbon emissions. Finally, El-Tayeb noted that sustainable finance has become one of the most critical instruments for promoting and preserving long-term financial stability.
