Business

KNPC to float project on clean energy

‘Company preparing list of qualified companies’ KUWAIT CITY, Dec 18: The Chief Executive Officer of Kuwait National Petroleum Company (KNPC) Eng Mohammed Ghazi Al-Mutairi has disclosed the intention of the company to fl oat a project on clean energy in February, indicating that the company will announce the names of …

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Ministry of Finance says does not recognise virtual currency Bitcoin

Local banks record growth in deposits KUWAIT CITY, Dec 18: Kuwait’s Ministry of Finance does not recognize the virtual currency ‘Bitcoin’ and forbids its trading in the Kuwaiti financial institutions. The sources pointed out both the Ministry of Finance and the Central Bank of Kuwait cannot punish trading because they …

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Kuwaiti officials underline the significance of promoting ICT

Move to secure economic growth, encourage vital industries KUWAIT CITY, Dec 18, (KUNA): Kuwaiti officials on Monday underlined the significance of promoting the role of information and communication technology (ICT) in securing economic growth and encouraging vital industries. Speaking to KUNA on the sidelines of a seminar organized by Huawei …

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Kuwait bourse kicks off week with modest gains

KFH climbs 4 fils; Zain slips KUWAIT CITY, Dec 17: Kuwait stocks pulled higher on Sunday as it extended last week’s gains. The price index climbed 24.18 pts in choppy trade to 6,355.9 pts paced by some of the banks and mid-caps while overall sentiment remained skittish The KSX 15 …

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Oil prices remain high on pipeline shutdown

Oil prices remained range bound with minimal volatility and comfortably above the $60/b mark during November ’17 and during the first two weeks of December ’17 following the extension to the ongoing oil production cut agreement until the end of 2018. An oil pipeline shutdown in North Sea for repairs …

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Kuwait seeks help for Boursa stake sale – CMA floats tender for advisers

KUWAIT CITY, Dec 17: The Capitals Market Authority (CMA) Sunday, December 17 floated a tender in demand for consultative services to help it sell a stake in the Boursa Kuwait. According to a report published in The National, the deadline for financial consultative firms to present their bids is Jan …

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KPMG Kuwait to accept Bitcoin payment – New technology for new generation

KUWAIT CITY, Dec 16: KPMG Kuwait has accepted its first engagement in bitcoins. KPMG’s Digital Consulting Services group provides a range of services focused on new technology including Digital Customer Experience, Data and Analytics, Robotic Process Automation, and BlockChain Technology which enables cryptocurrencies to function. “KPMG is a customer centric …

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Value over volume – shale oil directions for 2018!

Oil Analyst American shale oil producers are opting for value added returns and for higher and improved oil prices with full coverage and assurance from OPEC and Russia in securing their profits. Even though no one knows the rate that the American producers will push for next year, it however …

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Kuwaitis in the forefront of buying and selling Bitcoins

Value of unit of the digital currency reaches $17,000 KUWAIT CITY, Dec 16: Kuwaiti citizens have been in the forefront in the trading (buying and selling) of the digital currency “Bitcoin” especially with the high global circulation of Bitcoin in the virtual world of the Internet, reports Aljarida daily. The …

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S&P rates vulnerability of Kuwait sovereigns

KUWAIT CITY, Dec 14: Kuwait ranked 51st out of 80 emerging market sovereigns in terms of vulnerability to tighter funding conditions, according to the “Global Sovereign Outlook 2018: Brighter With Risk of Turbulence,” report published recently on Ratings- Direct by Standard and Poors. The report explained that the ranking of …

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