Business

OPEC is struggling as it meets shale producers – Cartel walking on a tight rope

The oil organization has no choice but to find ways to communicate with its most vigorous competitor. USA shale producers are pumping oils as much as possible without any signs of slowing down and stopping their surge. They are now heading towards being the largest oil producers, aiming to surpass …

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NBK holds AGM and EGM for 2017 – AGM approves 30% cash dividend and 5% bonus shares

KUWAIT CITY, March 10: NBK’s Chairman Nasser Al-Sayer affirmed that “NBK Group has achieved strong performance across all business segments during the year 2017. The Group witnessed a remarkable increase in profitability while continuing to maintain its leading position in the domestic market through providing a comprehensive range of financial …

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KGL awarded US government contracts worth almost $2bln – Company looking forward to continuing to work with the US military: Khatib

KUWAIT CITY, March 10: Kuwait and Gulf Link Transport Company (KGL) announced that two of its subsidiaries have been awarded transportation and supply contracts with the US Army worth up to $2B (USD). One of its subsidiaries, KGL Transportation was awarded the US Army’s Heavy Lift 8 (HL8) transportation contract, …

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Central Bank of Kuwait asks Islamic banks to provide reports about shares, plots, houses

Reports to be sent within ten days KUWAIT CITY, March 8: The Central Bank of Kuwait has asked Islamic banks to provide it with reports about the shares, plots and residential houses, the ownership of which were transferred to the banks as debt settlements, reports Al-Rai daily quoting informed sources. …

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Oil market moves towards balance: Kuwait – KUFPEC planning to raise output to 150,000 bpd by 2020: CEO

KUWAIT CITY, March 7, (KUNA): Kuwait’s Oil Minister and Minister of Electricity and Water Bakheet Al-Rashidi said the oil market is moving at a steady pace towards balance and reducing supply surplus. In a statement by Kuwait Petroleum Corporation (KPC) to KUNA, Al-Rashidi said during his participation in a seminar …

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Saudis disappear from Forbes billionaires list – Bezos tops world’s rich list as Trump wealth sinks

PARIS, March 7, (AFP): Amazon chief Jeff Bezos is now the world’s richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine’s annual billionaires list published Tuesday. US President Donald Trump’s ranking on the list fell to 766th place …

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Kuwait investment forum highlights bountiful opportunities for investors – Arab nations urged to work together to fight terrorism

KUWAIT CITY, March 7, (KUNA): Kuwait’s investment forum showcases the bountiful opportunities that await investors from around the world, two national bodies said on Wednesday. The co-organizers of the His Highness the Amir-sponsored forum on March 20-21, Kuwait Chamber of Commerce and Industry (KCCI) and Kuwait Direct Investment Promotion Authority …

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Zain signs MoU with Huawei Technologies – Group vows to focus on digital transformation, talent development

BARCELONA, March 6: Zain, a leading telecommunications provider in the Middle East and Africa, vowed to further expand focus on digital transformation and talent development, through signing a memorandum of understanding (MoU) with Huawei Technologies. The signing took place during MWC 2018 in Barcelona in the presence of Zain Vice …

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Gulf Business Magazine names five Kuwaitis among top 100 Arab VIPs – Sheikh Ahmed Al-Maktoum ranks first in the list

KUWAIT CITY, March 6: Five prominent Kuwaitis in business and finance sector have been named among the top 100 Arab personalities for 2018 by the Gulf Business Magazine, reports Al-Rai daily. Mohamed Abdul-Aziz Al-Shaya, Board Chairman of Al Mabani Company and Chief Executive Officer of Mohammed Al-Shaya Company was 27th …

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Boursa Kuwait highlights its journey at EFG HERMES confab – CEO Al Khaled underlines impact of sound-operations and strong performance of capital markets on growth

KUWAIT CITY, March 5: Boursa Kuwait recently participated in EFG HERMES’ 14th Annual One on One Conference 2018 hosted in Dubai from 5 to 7 March 2018, titled ‘Shifting Benchmarks’. Attended by representatives of leading companies and financial institutions from across the MENA region, the conference presented a regional outlook …

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