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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

KNPC warns people not to fall for ‘dubious’ online ads

The company would take legal action against those involved in such ads to safeguard its rights and to protect people from lies.
By TRENDS Desk
December 11, 2021 5:53 pm
  • The company's Deputy CEO for Administrative and Commercial Affairs and Official Spokesman Ahed Al-Khrayef said unknown entities have recently posted ads
  • "These ads are totally divorced from reality, and the company has nothing to do whatsoever with these ads," he affirmed

Kuwait National Petroleum Company (KNPC) has denied offering shares for trading, warning social media users not to believe in some “dubious” online advertisements illegally using the company’s name.

Speaking to KUNA, the company’s Deputy CEO for Administrative and Commercial Affairs and Official Spokesman Ahed Al-Khrayef said unknown entities have recently posted ads inviting investment and profiting by buying the company’s stakes.

“These ads are totally divorced from reality, and the company has nothing to do whatsoever with these ads,” he affirmed, underling that the KNPC is fully state-owned and its shares are not for sale.

He cautioned that the company would take legal action against those involved in such ads only to safeguard its rights and to protect people from such lies.

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