Latest from Al Bawaba
Al Bawaba
an hour ago
- Business
- Al Bawaba
Gulf Takaful Insurance Company successfully completes capital increase of KWD 7 million
In its capacity as the issuer, Gulf Takaful Insurance Company K.S.C.C. 'GTIC', and the Kuwait Financial Centre 'Markaz', the lead manager and subscription agent, announced in a joint statement the successful completion of GTIC's capital increase, raising a total value of KWD 7 million through the issuance of 70,286,789 ordinary shares at a subscription price of 100 Kuwaiti fils per share, representing 70% of the issued and paid-up capital of the company. The subscription period for the rights issue ran from 10 June to 24 June Mubarak Othman Al-Ayyar, Chief Executive Officer (CEO) at Gulf Takaful Insurance Company, expressed his contentment with the successful subscription process, which reflects the shareholders' confidence in the quality and performance of the also praised the professionalism with which the subscription was managed by Markaz, stating: "The subscription process fulfilled all the necessary regulatory procedures for the issuance of shares. The proceeds from the capital increase will be directed toward enhancing the company's solvency margin in line with prevailing regulatory will also contribute to implementing the company's expansion strategy, supporting its general corporate purposes, continuing the execution of its plans, and strengthening its position in the Takaful Insurance Sector both locally and regionally. We value the active role played by all , the Insurance Regulatory Unit (IRU) officials, the Ministry officials, the Capital Markets Authority and Kuwait Clearing Company team in the successful execution of the capital increase. We also thank team Markaz for managing the subscription process with utmost professionalism, efficiency, and seamless coordination across all stages of the offering." On this occasion, Mr. Ali H. Khalil, Chief Executive Officer at Markaz, stated: 'We are proud at Markaz to have played a pivotal role in the success of the subscription process as the issuance manager and receiving agent. This reflects our ongoing commitment to supporting our clients in achieving their strategic growth goals. We mobilized our extensive expertise in the capital markets sector and our highly skilled teams to ensure the subscription process was carried out in accordance with the highest professional and regulatory standards. We thank Gulf Takaful Insurance Company for their valued trust in Markaz's capabilities to manage the capital increase subscription. This achievement highlights the strength of our partnership and further reinforces our position as a trusted partner in the investment banking sector."
Al Bawaba
an hour ago
- Al Bawaba
Video: Libyan man sparks anger after unleashing lion on Egyptian worker
ALBAWABA - A video recently sparked anger on social media after capturing a Libyan man unleashing his lion on an Egyptian worker. While laughter was heard coming from the Libyan farmer who captured the video in question, the lion left the worker in a state of panic as it wrapped its claws around his body and started biting him. The Egyptian worker complained several times to the farmer, who told him to stay calm and "enjoy" the continuous attacks from the lion. The video flooded social media, sparking anger among human rights activists who claimed that the video was documented in Libya without specifying the exact location. Activists described the incident as an "insult to human dignity" and "disregard for human life." Additionally, they called for whoever was responsible to be held accountable for their actions. In response to the backlash, the Libyan farmer said that he was "joking" when he unleashed the lion on the worker. An Egyptian blogger wrote, "This was neither a joke nor a game. It was a means of humiliation and terror, and perhaps a show of force, as if the dignity of this young Egyptian man was worth nothing." Another added, "Even if he was joking, he shouldn't have done this. Is it reasonable to trust a predatory animal? The scene is extremely humiliating, and the authorities must intervene against anyone who attempts to disregard human dignity." According to Al Arabiya, raising wild animals in Libya has become a common phenomenon, as the public raised concerns after reports of spotting lions and tigers roaming the streets alongside their owners, including public places and residential areas.
Al Bawaba
3 hours ago
- Politics
- Al Bawaba
Finland: Lawmaker commits suicide in Parliament House
Published August 19th, 2025 - 10:25 GMT ALBAWABA - Reports revealed that a Finnish lawmaker committed suicide in parliament, local media confirmed on Tuesday. Helsinki Police revealed to the media that a member of the parliament in Finland died in the Parliament Building on Aug. 19. Parliament Security Director Aaro Toivonen told Yle media outlet that the shocking incident took place at the Parliament Building and that he does not deny the information. The name of the lawmaker who killed himself was not revealed until this time, nor the reason behind the suicide. Kuolemantapaus Eduskuntatalossa Eduskuntatalossa on tiistaina 19.8. aamupäivällä sattunut kuolemantapaus. Eduskunta ei kommentoi tapausta medialle tämän enempää kuolemansyyntutkinnan ollessa kesken. — SuomenEduskunta (@SuomenEduskunta) August 19, 2025 Police patrols and emergency services were dispatched immediately to the scene. The official X account of the Finnish Parliament wrote, "Death at the Parliament House" adding, "A death occurred at the Parliament House on the morning of Tuesday, August 19. The Parliament will not comment further on the matter to the media while the cause of death investigation is ongoing." © 2000 - 2025 Al Bawaba (
Al Bawaba
3 hours ago
- Politics
- Al Bawaba
Hand in pocket: Did Macron break White House protocol?
Published August 19th, 2025 - 09:51 GMT ALBAWABA - French President Emmanuel Macron has once again sparked buzz on social media after reportedly breaking White House protocol during his meeting with Trump in Washington, D.C. The summit involved well-known European leaders such as NATO Secretary General Mark Rutte, European Commission President Ursula Von der Leyen, UK Prime Minister Keir Starmer, and Emmanuel Macron, who joined Ukrainian President Volodymyr Zelensky to discuss a potential ceasefire between Russia and Ukraine. During a photo with Trump and the other attending European leaders, Macron broke the White House protocol by placing one of his hands in his pocket, sparking debate on social media with clips of the moment flooding several platforms. What is Macron doing with his hand in his pocket as Trump, EU leaders, and Zelensky take a family photo? Wrong answers only — RT (@RT_com) August 19, 2025 Polish tabloid outlet Fakt stated that Macron did break the White House protocol since his gesture appeared "too casual" for a formal event involving fellow politicians. Fakt wrote in its article, "The insouciance of Emmanuel Macron is amazing. He keeps his hand in his pocket, which is not customary during status events of such a high rank." This is not the first time Macron has gone viral on social media. In May, the French President sparked controversy after hiding a suspicious tissue and object in a meeting with UK Prime Minister Keir Starmer and German Chancellor Friedrich Merz during a train journey back from Kyiv, Ukraine. In response to the video, rumors flooded social media with some users claiming that Macron tried to hide cocaine and a snuff spoon. However, French authorities refuted the rumors claiming that the mysterious object is nothing but a used tissue. The French President also sparked debate on social media on several events involving his wife, Brigitte Macron, when she slapped him while exiting an airplane in Hanoi, Vietnam, and refused to hold his hand during their trip to the UK. © 2000 - 2025 Al Bawaba (
Al Bawaba
3 hours ago
- Business
- Al Bawaba
LG Presents New Space- and Energy-efficient Refrigerator Lineup at Ifa 2025
LG Electronics (LG) is unveiling its latest refrigerator lineup for the European market at IFA 2025. Designed to deliver top-tier energy efficiency, the new french door and bottom-freezer models have been developed specifically for Europe's unique housing environments and consumer lifestyles, reflecting LG's extensive research into local needs and preferences. The lineup combines energy-saving performance, smart features and space-efficient styling that integrates seamlessly into modern Energy EfficiencyResponding to increased demand for energy-efficient appliances across Europe, LG is introducing models that meet – and significantly surpass – the European Union's highest ('A') energy rating. The new bottom-freezer model exceeds the requirement for the A rating, while the French door model has impressively earned an A rating, despite being in a category where such ratings are rare. LG's exceptional energy efficiency was made possible by its optimized insulation design tailored for the European market, as well as AI-based features that help reduce electricity consumption by learning household usage patterns and optimizing compressor operation during periods of low & Max: Perfect Fit and Maximum PerformanceDesigned for Europe's typically compact kitchens the new lineup features LG's Zero Clearance Hinge, enabling doors to open fully (up to 110 degrees) even when placed flush against a wall. Sleek exteriors with LG's Premium Flat Door design create a refined, built-in features elevate convenience and efficiency to make every day easier and power bills more manageable. AI Fresh monitors your door-opening habits over three weeks and lowers the temperature in advance during peak times. This helps reduce sudden temperature changes when the door is opened, keeping food fresher for longer. AI Saving Mode analyzes use-behavior and intelligently adjusts cooling performance during low-usage periods, helping save LG's MAX concept – maximizing space efficiency and food freshness – the lineup features a variety of storage solutions that enhance interior usability, including the Retractable Shelf for tall or bulky items, and generous interior capacity. Freshness technologies include Linear Cooling™ to minimize temperature fluctuations, Door Cooling+™ for fast, even cooling, and Fresh Converter+™ with customizable storage zones for meat, fish and French Door Refrigerator Boasting Built-In Look, Practical FeaturesThe new french door model presents LG's first Thin Door design with both an ice and water dispenser, plus the installation flexibility of the Zero Clearance Hinge. The Ultra Slim In-Door Ice Maker saves storage space while delivering a steady supply of enhancements include an optimized basket design that reduces the risk of bottles tipping over when opening or closing. Deeper shelves improve internal storage capacity, aligning with the needs of European lifestyles. Soft Closing Doors prevent slamming, ensuring smoother and quieter Bottom-Freezer Designed for FlexibilityDesigned to fit real European kitchen environments, the new bottom-freezer series offers a variety of sizes and capacities. Adjustable shelving and flexible compartments maximize usable Adjustable Shelf offers seven height settings, while the combination of Adjustable and Retractable Shelves allows for tailored organization. Additional accessories, such as the Movable Bucket, My Box and Mini Door Basket, can be repositioned for convenient access or to free up space for other items. 'LG's new refrigerator lineup reflects a firm commitment to meaningful innovation, combining outstanding space and energy efficiency with designs that fit seamlessly into modern kitchens,' said Lyu Jae-cheol, president of the LG Home Appliance Solution Company. 'We remain focused on developing user-centric technologies that enhance everyday convenience, simplify life at home, and have less impact on the planet.'
