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KIPCO expects profit growth in 2010.
At its annual Investor's Forum, KIPCO - the Kuwait Projects Company - said today that, despite the current financial climate, it is targeting an increase in profit and revenues for the year
KIPCO also announced that it intends to launch a Retakaful (reinsurance) company during 2010. The Retakaful company will partner with companies that have established distribution networks in the MENA region. KIPCO's new savings and pensions company - Taka'Ud Savings & Pensions - is the process of being established and is awaiting regulatory approval. Taka'Ud will offer the region's first range of private pensions and savings products.
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