Sunday , October 21 2018

Business

Increase in transactions

KUWAIT CITY, Aug 5: According to official data released by the Central Bank of Kuwait, citizens and residents spent KD 5.6 billion at point-of-sale transactions during the first six months of 2018. This is an increase of 16.2 percent to KD 787.5 million compared to KD 4.8 billion spent during …

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‘Finance’ urges all state bodies and ministries to avoid exceeding budget

KUWAIT CITY, Aug 4: Ministry of Finance stressed the importance for all state bodies and ministries to avoid exceeding the allocated budgets as part of the rationalization policy adopted by the government, reports Al-Rai daily. The ministry declared to all public institutions and ministries via a circular that the public …

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PAM eyes work visas for expat business partners

KUWAIT CITY, Aug 4: The Public Authority for Manpower (PAM) issued a decision to grant work permits for non-Kuwaiti partners in Kuwaiti companies provided they submit an application using the form prepared by the concerned labor department, reports Al-Anba daily. The decision, which is part of ongoing efforts to regulate …

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CMA launches next phase of bidding for equity stake in Boursa Kuwait

Qualified local investors, int’l operators were given additional time to express interest KUWAIT CITY, Aug 2: The Capital Markets Authority (“CMA”) on the 28th of June 2018 issued an announcement regarding the bidding for an equity stake in Boursa Kuwait. Following consultation sessions with local investors, the CMA had agreed …

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Duterte says may deploy warship to save Filipino captives in Libya

MANILA, Aug 3 (Reuters) – Philippine President Rodrigo Duterte said on Friday he might send the navy’s most modern frigate to waters off Libya in a bid to “save” three Filipinos and a South Korean kidnapped last month from a water plant in the north African country. South Korea has …

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Saudis try once ‘lowly’ jobs as economy bites

Cultural attitudes to work changing amid major retooling of lagging economy RIYADH, Aug 1, (AFP): Dishing out burgers and fries slathered with melted cheese, “One Way Burger” is like any other trendy food truck in Riyadh. But it offers something rare — the cook behind the sizzling hot grill is …

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‘Govt exerting pressure to freeze Fishermen Union’s bank account’

Bid to force fishermen to hand over union’s building KUWAIT CITY, Aug 1: Treasurer of Kuwait Fishermen Union Ali Al-Khayat disclosed that the government is putting pressure on the union through the decision taken by Ministry of Social Affairs and Labor to freeze the bank account of the union and …

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‘Restructuring of real estate sector & development of its mechanisms tied to decisions taken by CBK’

Need to enhance stability of relevant laws: Al-Ghanim KUWAIT CITY, Aug 1: Secretary of Kuwait Real Estate Union Qais Al-Ghanim says the restructuring of the real estate sector and development of its mechanisms are linked to the decisions taken by the Central Bank of Kuwait (CBK). He stressed that the …

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Sharp increase seen in Kuwaiti deposits in Iranian banks

Move tied to about 20 pc interest rate compared to that offered by local banks KUWAIT CITY, Aug 1: There has been a sharp increase in Kuwaiti deposits at Iranian banks lately due to low interest rates offered by Kuwaiti banks compared to those of their Iranian counterparts, reports Al-Qabas …

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Zain H1 net profit rises 5% to KD 86.4 mn

Data revenue up 10%; customer base grows 5% to reach 47.4 million KUWAIT CITY, July 31: Zain Group, a leading mobile innovator with operations in eight markets across the Middle East and Africa, announces its consolidated financial results for the six months to 30 June 2018. Zain served 47.4 million …

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