March 2, 2023 – Page 4 – Kuwait News Report

ROSEN, NATIONAL INVESTOR COUNSEL, Encourages National Realty Investment Advisors LLC Investors to Secure Counsel Before Important Deadline in Securities Class Action – NRIA

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of National Realty Investment Advisors LLC membership units (NRIA) of the important March 13, 2023 lead plaintiff deadline in the securities class action. The case is against Rey E. Grabato II, Daniel Coley O’Brien, Thomas […]

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of National Realty Investment Advisors LLC membership units (NRIA) of the important March 13, 2023 lead plaintiff deadline in the securities class action.

The case is against Rey E. Grabato II, Daniel Coley O’Brien, Thomas Nicholas Salzano, Arthur Scutaro, Arthur Raymond Scutaro, Sr., Arthur Raymond Scutaro, Jr., Olena Budinska, Ivel Turner, Jeff Rosenberg, Mark Korczak, Byron Cartozian, and Brian Harrington (together, “Defendants”).

SO WHAT: If you purchased NRIA membership units you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the NRIA class action, go to https://rosenlegal.com/submit-form/?case_id=10974 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 13, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, National Realty Investment Advisors LLC offered and sold NRIA, a membership unit in the NRIA Fund. Defendants used NRIA and the NRIA Fund to carry out a fraudulent scheme, including making and disseminating material misrepresentations, and effectuating a Ponzi scheme to divert millions of dollars invested in the NRIA Fund for their own personal gain.

To join the NRIA class action, go to https://rosenlegal.com/submit-form/?case_id=10974 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8779568

Kuwait Insurance Co. gains KD 42 mln net profit in ’22

– Kuwait Insurance Company announced Thursdsay a net profit of KD 42 million (USD 172.2 million) in 2022, compared with KD 11.4 million (USD 34.5 million) in 2021, an increase of 268.16 percent.In a disclosure posted on Boursa Kuwait’s website, the com…

– Kuwait Insurance Company announced Thursdsay a net profit of KD 42 million (USD 172.2 million) in 2022, compared with KD 11.4 million (USD 34.5 million) in 2021, an increase of 268.16 percent.

In a disclosure posted on Boursa Kuwait’s website, the company said earnings per share amounted to 227.7 fils in 2022 compared with 61.8 fils in 2021, a rise of 268.15 percent, the company’s Board of Directors recommended a cash dividend of 40 fils per share, according to the company discloser.

Kuwait Insurance Company was established in 1960 and listed on the stock exchange in 1984 with an authorized capital of KD 19.4 million (around USD 58.7 million).

Kuwait Insurance Company carries out insurance business by collecting and investing capital, movable and immovable assets in the manner decided by the Board of Directors.

Source: Kuwait News Agency

Kuwait’s Shamal Az-Zour Co. posts KD 14.4 mln net profit in ’22

– Shamal Az-Zour Al-Oula Power and Water Company announced Thursday a net profit of KD 14.4 million (USD 43.6 million) in 2022, an increase of 6.8 percent, compared with KD 13.5 million (USD 40.9 million) in 2021.The company’s earnings per share in 202…

The company’s earnings per share in 2022 amounted to KD 13 fils, an increase of 8.3, compared with KD 12 fils in 2021, stated the company in a published disclosure on Boursa Kuwait website.

The company attributed the positive results in the financial statements during the comparison period to the high performance of Shamal Az-Zour station, while the Board of Directors approved a recommendation of a cash dividend of four fils.

Shamal Al-Zour Company was established in 2013, and listed on the Kuwait Stock Exchange in 2020, to construct and operate Az-Zour North One Power and Water Plant, with an authorized capital of KD 110 million (about USD 333.3 million).

Source: Kuwait News Agency

Kuwait MoH stresses need of investing in healthcare services

Assistant Undersecretary of the Ministry of Health for External Health Services Affairs, Dr. Yaqoub Al-Tamar Thursday underlined the necessity of preventing people from being infected with hearing problems and curing them by investing in healthcare ser…

Speaking to reporters on the sidelines of a festival held at Sheikh Salem Al Ali Al Sabah Center for Speech and Hearing Therapy under the patronage of Minister of Health Dr. Ahmad Al-Awadhi on World Hearing Day, Al-Tamar said the festival aims at enhancing awareness and knowledge on hearing problems, and opportunity of prevention and therapy.

Hearing diseases are common as 460 million people all over the world are suffering from them, and this requires shedding light on means of prevention, he said.

He referred to a World Health Organization (WHO) report that the number of those who are dealing with hearing loss reached 2.5 billion.

Meanwhile, head of hearing and speech department at the center Dr. Mariam Al-Kandari said the facility receives 1,500 patients monthly, in addition to other centers in Al-Ahmadi, Jahra and Jaber Hospital. She indicated that hearing loss affects negatively all people and makes them feel severely depressed, adding that this also results in some other diseases.

Source: Kuwait News Agency