Tuesday , September 18 2018

Business

Finance places revival of budget transformation as its ‘top priority’

Work of drafting new law finalised KUWAIT CITY, July 30: Minister of Finance Nayef Al-Hajraf disclosed that the ministry has placed on top of its priorities the revival of budget transformation from bonds and clauses to programs and performance, especially as the current method of preparing budget constitutes an impediment …

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KAMCO issues KD 40m bond with 5-year tenure

Acts as joint lead manager and arranger with Gulf Bank KUWAIT CITY, July 29: KAMCO Investment Company, a leading investment firm with one of the largest AUMs in the region, issued a KD 40 million, five-year tenure bond, with KAMCO and Gulf Bank as Joint Lead Managers and Arrangers for …

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Aramco to buy Sabic petrochemical?

SAUDI ARAMCO last week announced its intention to buy a major share in the Saudi petrochemical company Sabic, which is the fourth largest company in the world with market value close to $100 billion. It has appointed two major American financial consultants to assess and evaluate Sabic assets. This could …

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ABK posts 18 pct rise in H1 net profit

Profits KD19.1m; earnings per share 12 fils KUWAIT CITY, July 28: Al Ahli Bank of Kuwait (ABK) today reported an 18 percent increase in net profit for the first half ending June 30, 2018. The upward trend in 2018 continued as ABK’s net profit for the period reached KD 19.1 …

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Non-oil revenue up 21.7% – Kuwait releases closing accounts

TOTAL EXPENDITURE DIPS 3.3% … FISCAL DEFICIT DOWN 18.1% KUWAIT CITY, July 28: The Kuwait Ministry of Finance Saturday announced the State of Kuwait’s closing accounts for the fiscal year ending March 31, 2018. The State’s accounts recorded KD 16.0 billion in revenue, KD 19.2 billion in expenditure, and closed …

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Kuwait to halt Bab oil exports

KUWAIT CITY, July 26, (Agencies): Kuwait is studying whether to halt oil exports through Bab al-Mandeb strait, an oil official said, after Saudi Arabia said it was suspending all crude shipments through the Red Sea lane following an attack on two of its tankers. “All options are possible but there …

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Ooredoo Kuwait posts KD 12.2m net profit in H1, 2018; EPS 24 fils

Company’s revenues reach KD 341 mln in first half of 2018 KUWAIT CITY, July 26, (KUNA): National Mobile Telecommunication Company, Ooredoo Kuwait, announced Wednesday net profits of KD 12.2 million ($40.3 million) for the first half of 2018. Earnings Per Share (EPS) reached 24 fils for the first half of …

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Kuwait signs an agreement with SNC-Lavlin for suite of services – ‘Contract worth $180 million’

HOUSTON, July 26: Kuwait Petroleum Corp. subsidiary Kuwait Integrated Petroleum Industries Co (KIPIC) has let a contract to SNC-Lavalin Group Inc, Montreal, to provide a suite of services related to startup of the grassroots 615,000-b/d Al-Zour integrated refining complex under construction in southern Kuwait, reports oil&gasjournal.com. As part of the …

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Kuwait sends generators, fuel to support energy needs of Basra

BAGHDAD, July 26, (KUNA): Iraqi Border Port Commission announced on Thursday the arrival of electric generators sent by Kuwait to support the energy needs of Basra governorate. “Seventeen large electric generators presented by Kuwait had arrived to the Iraqi borders on July 24, and all generators completed their entrance procedures …

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‘Audit Bureau’ accuses CSC of usurping its role

KUWAIT CITY, July 25: The State Audit Bureau has accused Civil Service Commission (CSC) of usurping its role as the authority in charge of disciplinary actions against employees and officials found culpable of financial violations, reports Al-Seyassah daily. According to the Director of Legal Affairs and acting Director of Financial …

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