Latest news with #Al-Rayes
Kuwait Times
3 days ago
- Business
- Kuwait Times
The all-new Galaxy S25 Edge exclusively at Zain
Ultra-slim design meets cutting-edge AI, now available on nation's fastest network KUWAIT: Zain announces its exclusive partnership with Samsung to bring the revolutionary Galaxy S25 Edge to customers across the country. As the sole operator offering this device in Kuwait, Zain continues to lead the market by delivering cutting-edge technology and unmatched connectivity experiences on the nation's fastest network. The Samsung Galaxy S25 Edge is an engineering marvel, combining ultra-slim design with powerful performance. Measuring just 5.8mm in thickness and weighing 163g, it features a durable titanium frame and Corning Gorilla Glass Ceramic 2 for enhanced resilience. The device represents the pinnacle of smartphone innovation, combining a remarkably slim titanium design that is only 5.8mm thick with a 6.7-inch QHD+ AMOLED 2X display, a groundbreaking 200MP camera, and Galaxy AI features such as ProVisual Engine and Drawing Assist. The all-new Galaxy S25 Edge is now available through all of Zain's channels, including the Zain App, official website ( and the largest network of retail branches in Kuwait. Saud Al-Rayes, Device Management Manager, Operational Marketing at Zain Kuwait, commented: 'Our exclusive launch of the Galaxy S25 Edge underscores Zain's unwavering commitment to bringing the most advanced technologies to our customers. This milestone is a testament to our long-standing partnership with Samsung and our dedication to providing unparalleled digital experiences to Kuwait's largest customer base.' He added: 'Over the years, our collaboration with global tech leaders like Samsung has enabled us to introduce groundbreaking innovations to the Kuwaiti market. The Galaxy S25 Edge, with its sleek design and powerful features, exemplifies our shared vision of pushing the boundaries of what's possible in mobile technology.' Al-Rayes concluded 'This launch also comes on the heels of Zain being recognized with five prestigious awards from Ookla Speedtest, the global leader in network intelligence and connectivity insights. These accolades reinforce our leadership in delivering the fastest, most reliable network experience in Kuwait, providing the perfect foundation for next-generation devices like the S25 Edge to truly shine.' Powered by the Snapdragon 8 Gen 3 Mobile Platform for Galaxy, the S25 Edge ensures top-tier performance. Its 3,900mAh battery supports 25W wired and 15W wireless charging, keeping users connected throughout the day. With Galaxy AI at its core, the S25 Edge unlocks a new era of intelligent mobile experiences. From real-time language translation and enhanced productivity tools to next-level photo and video editing with ProVisual Engine, Galaxy AI empowers users to do more with less effort. Paired with Zain's ultra-fast and reliable network, these AI-driven features come to life with seamless speed, making everyday tasks smarter, faster, and more intuitive than ever before. Available in Titanium Silver, Titanium Jet Black, and Titanium Icy Blue, the Galaxy S25 Edge is a testament to Samsung's commitment to innovation and design excellence, now fully unlocked by the power of Zain's award-winning network, ensuring an unmatched mobile experience across Kuwait.
Daily Tribune
15-02-2025
- Business
- Daily Tribune
Takaful International achieves net profit of BD 1.65 million for the year 2024 with an increase of 9%
Email : Takaful International Company B.S.C. has announced its financial results for the fourth quarter and full year ended December 31, 2024, reporting significant growth in shareholders' net profit, improved investment income, and continued market leadership in the takaful sector. Fourth Quarter 2024 Performance The company recorded a net profit attributable to shareholders of BD 429K for the fourth quarter of 2024, marking a 62% increase compared to BD 264K in the same period last year. This resulted in an earnings per share of 5.05 Fils, up from 3.11 Fils in Q4 2023. The total net profit for the quarter stood at BD 487K, reflecting a 34% increase from BD 363K in the previous year, primarily driven by higher returns from the investment portfolio. However, the participants' Takaful funds surplus declined by 41% to BD 58K, compared to BD 99K in Q4 2023, due to an increase in claims reserves. The recognized Takaful contributions grew by 10% to BD 6.774M in Q4 2024, up from BD 6.159M in the same period last year. Meanwhile, the recognized Takaful cost saw a notable decline of 21.6%, amounting to BD 5.088M compared to BD 6.489M in Q4 2023. Full-Year 2024 Financial Highlights For the full year ended December 31, 2024, Takaful International recorded a net profit attributable to shareholders of BD 1.334M, a 42% increase from BD 937K in 2023. Earnings per share rose to 15.7 Fils, compared to 11.03 Fils in the previous year. The company's total comprehensive income increased by 27% to BD 1.231M from BD 969K in 2023. The total net profit reached BD 1.65M, reflecting a 9% year-on-year growth, mainly attributed to strong investment performance. The participants' Takaful funds surplus stood at BD 315K, down 45% from BD 575K in 2023, primarily due to higher claims reserves, which were impacted by heavy rain claims in April 2024 and rising medical claims inflation. Takaful International's recognized Takaful contributions increased by 7% to BD 25.981M from BD 24.363M in 2023, while recognized Takaful costs rose by 10% to BD 22.624M. Balance Sheet Growth The company's total equity attributable to shareholders grew by 5% to BD 12.68M as of December 31, 2024, compared to BD 12.086M in 2023. Total assets increased by 5% to BD 43.833M from BD 41.589M. Chairman's Statement Commenting on the results, Mr. Ebrahim Al-Rayes, Chairman of the Board of Directors, stated that Takaful International's financial performance for 2024 was in line with the Board's projections, highlighting strong investment returns and a notable improvement in shareholders' fund performance. He credited the company's new investment strategies for enhancing portfolio returns, particularly in listed financial stocks and Islamic Sukuk. Mr. Al-Rayes also emphasized the company's growing commitment to Environmental, Social, and Governance (ESG) principles, announcing the publication of Takaful International's first comprehensive ESG report for 2024. He reiterated the company's dedication to sustainability and responsible governance. Additionally, he revealed that the Board has recommended cash dividends of 12.5% of the paid-up capital (12.5 Fils per share, totaling BD 1,062,500), pending approval from the Central Bank of Bahrain and shareholders at the upcoming Annual General Meeting. CEO's Statement Mr. Essam Mohammed Al Ansari, CEO of Takaful International, highlighted the company's resilience and financial stability despite challenging market conditions in the insurance sector. He noted that Takaful International successfully retained its A- credit rating with a stable outlook from AM Best, reinforcing its position as a leader among locally rated Takaful providers. Mr. Al Ansari also underscored the company's strategic partnerships, which have strengthened its market position. He further announced the launch of a new company website, marking a major step in digital transformation aimed at enhancing customer experience and service efficiency. "As Takaful International continues to drive growth, innovation, and sustainability, we remain committed to enhancing value for all stakeholders," Mr. Al Ansari concluded.
