Business

Expenditure for fiscal 2018/19 reaches 3.6 pct in first quarter

‘49 pc of projects are ongoing’ KUWAIT CITY, Aug 16: The first quarter follow up report on the annual plan for fiscal 2018/2019 revealed the expenditure for this period reached 3.6 percent, approximately equal to that of the same period in fiscal 2017/2018, reports Al-Anba daily. The report disclosed 49 …

Read More »

Record turnout for purchase of Turkish lira in Kuwait

Luxury Turkish products now less expensive KUWAIT CITY, Aug 16: An unprecedented turnout of Kuwaitis – both individuals and traders – who thronged the exchange markets to benefit from the sharp drop in the value of Turkish lira was witnessed on Wednesday, Aug 15, reports Al-Nahar daily. The decline in …

Read More »

Kuwait aspires to be active aviation center, says official

KUWAIT CITY, Aug 15, (KUNA): Kuwait through its new visionary schemes seeks to be an active hub for air transportation for passengers and cargo, affirmed Directorate General of Civil Aviation Chairman Sheikh Salman Sabah Al-Salem Al-Humoud Al- Sabah on Wednesday. Sheikh Salman, in a statement marking first commercial flight by …

Read More »

CBK introduces free SMS alerts

KUWAIT CITY, Aug 15:  Kuwait’s Central Bank (CBK) has instructed all local and foreign banks in the country to provide their clientele with the Short Message Service (SMS) free of charge, giving them real-time transaction alerts. The SMS service encompasses all debit card transactions as well as online banking, but …

Read More »

Kuwait Audit Bureau to host INTOSAI committees’ meetings in September

KUWAIT CITY, Aug 15, (KUNA): The Audit Bureau announced on Wednesday it would host annual meeting of INTOSAI’s Capacity Building Committee (CBC) and a meeting for Intosai’s Donor Steering Committee (IDSC) for five days as of Sept 3. The forecast meetings will be “the grandest event for the higher audit …

Read More »

KFH and Markaz say Turkish lira slide impact on their investments minimal

Kuwait Finance Center’s investments in Turkey amounts to $5.72mn, less than 2% of shareholders’ equity DUBAI, Aug 14, (Agencies): Kuwait Finance House (KFH), the country’s second-biggest lender by assets, said on Tuesday that its Turkey financing portfolio is stable and diversified between the Turkish lira and major foreign currencies. The …

Read More »

CBK issues 3-mth bonds & Tawarruq

Worth KD 160m KUWAIT, Aug 14, (KUNA): The Central Bank of Kuwait (CBK) said on Tuesday it issued KD 160 million (USD 528 million) worth of bonds and Tawarruq, an Islamic financial product which allows clients to raise money without breaking Muslim bans on interest. The issue is valid for …

Read More »

Kuwait index ticks up in ‘lackluster’ session

Mabanee Co gains 7 fils, Ooredoo slips KUWAIT CITY, Aug 14: Kuwait stocks ticked higher on Tuesday stemming the three-day retreat. The All Shares Main Index rose 3.35 pts in lackluster session to 5,217.96 points as counters closed narrowly mixed. Some of the tech shares notched robust gains. The Premier …

Read More »

Kuwait denies cash buy to shore up lira

Stab in back: Erdogan KUWAIT CITY, Aug 13, (Agencies): Kuwait has rebuffed as “ungrounded” reports that it injected KD 500 million ($1.6 billion) to back the Turkish currency of lira, which has been in free-fall over deteriorating ties with the US. Denying such reports, the Kuwaiti Ministry of Finance said …

Read More »

Zewail City and NBK ink EGP 6.25 mln cooperation protocol

Deal to fund 10 scholarships over a period of 5 years KUWAIT CITY, Aug 13: Zewail City of Science and Technology and NBK ink EGP 6.25 million cooperation protocol to fund 10 scholarships over a period of 5 years. Prof Sedki: A valuable partnership that highlights the importance of concerted …

Read More »
Translate »
Social media & sharing icons powered by UltimatelySocial