Tandel with Ms. Bilcay Ulucay - Marketing director in Zain - along with Zain consumer marketing team

This is an amazing story!

Sanmukhlal Tandel, a young Indian fisherman in Kuwait, couldn’t believe himself winning $50,000 (2,353,000 Indian Rupees) in Zain’s weekly lucky draw!  

“Those 5 KD have changed my life forever” says Tandel while visiting Zain’s marketing division, whom been trying to reach him for a whole week with no response, and when he finally replied and listened to the Zain people that he won the $50,000, he still didn’t believe it and thought it was a scam!

This somehow reminds me of ”Slumdog millionaire” movie…

A malaysian billionaire, a part of an asian (Indian- Malaysian) consortium to buy Alkharafi-lead 46% shares of the Kuwaiti Zain (Formerly MTC; Mobile Telecommincations Company).

The 57 aged business man, is worth 2 bil dollars according to Forbes magazine, which puts him as #605 in the list of World’s billionaires.

Syed started his own career back in the early 1990′s selling rice and sugar and moved as a rocket to be a very well-know billionaire accross the globe, controlling MMC (Malaysia Mining Corp), having stakes in Malaysia Johor port, as well as Malakof; The country’s largest independent power producer.

It’s also worth saying that Mr. Syed has established his own charity foundation “Albukhary Foundation” offering full scholarships to students from poor countries to persue tertiary education in Malaysia.

Source: Forbes

source

مجلس الوزراء يقر مرسوم ضرورة لقانون

تعزيز الوضع الاقتصادي

Kuwaitnews SMS

It took them long time to take this step! as I know this will help all the banks to give more loans out to circulate the huge amount of cash they have now and cant even pay it’s interest by the end of 2009. so we may expect a new large volume wave on the banks with their undervalued prices it’ll sure jump back up.. and again im mentioning the banking sector only. since most of the companies which are not under the supervision of the CBK will not benefit from it unless it accepts all the restrictions that the Central bank and “dewan elmo7asiba” will impose on them.

UPDATE:

مصدر حكومي: قانون تعزيز الاستقرار الاقتصادي لا يتضمن تعديلات “الشعبي”

Global jordan a subsidiary of Global investment house got a court order to suspend all its operations. No further details disclosed, I think we will know all the story by tomorrow morning.

Copy of the SEC letter

** all the information provided in this post are taken from ChartsandNumbers