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Saturday , November 17 2018


Update macroeconomic models at GCC level – CBK deputy governor

Al-Obaid addresses CBK hosted workshop KUWAIT CITY, Nov 4, (KUNA): Deputy Governor of the Central Bank of Kuwait (CBK) Youssef Al- Obaid on Sunday called for holding discussions among the GCC central banks to overhaul macroeconomic models and their applications. Structures and applications of macroeconomic models have been updated with …

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KPC plans to secure loan of KD 16 billion

Move aims at supporting its capital projects for next 5 years KUWAIT CITY, Nov 4: Informed sources disclosed that Kuwait Petroleum Corporation (KPC) is planning to secure a loan of KD 16 billion to support its capital projects for the next five years, reports Al-Rai daily. The same sources added …

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MoCI reaches ‘compromise’ with SAB over solving licensing issues

‘Kuwait keen on hosting int’l confabs on renewable energy’ KUWAIT CITY, Nov 4, (Agencies): Ministry of Commerce and Industry has reached a compromise with State Audit Bureau based on the observations of the latter to solve the problems faced by some companies regarding licenses, reports Al-Qabas daily. According to informed …

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Call to hire new executives from outside the oil sector

By the end of this year, all executives of the oil sector with more than 35 years of experience including the chief executive officer will have to retire. This means Kuwait’s oil sector is being cleared of more than 35 years of valuable experience. This policy is unfortunately applicable in …

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KFAS signs cooperation deal with KCCI Dev Center

KUWAIT CITY, Nov 3: An agreement of cooperation was recently signed by the Kuwait Foundation for the Advancement of Sciences (KFAS) and Abdulaziz Hamad Al-Saqr Center for Development affiliated to Kuwait Chamber for Commerce and Industry (KCCI). According to a press release, the agreement was signed in the presence of …

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Kuwait SAB announces KD 249m financial savings in public funds

Tight supervision yields positive results KUWAIT CITY, Nov 3, (KUNA): Kuwait’s State Audit Bureau (SAB) announced on Saturday making financial savings in public funds at the value of KD 249 million (around $820 million due) to supervisory activities it fulfilled in cooperation and coordination with responsible bodies for the fiscal …

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EQUATE reports Q3 2018 results with $406 million net profit

Revenue scores $1.2 billion, up 11% compared to 2017 KUWAIT CITY, Nov 1: The EQUATE Group, a global producer of petrochemicals, reported its 3Q 2018 earnings today. For the third quarter of 2018, EQUATE Group achieved $406 million in net profit, reflecting an increase of 22% from the same period …

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Take solidary action on Iran: Al Habtoor

UAE businessman speaks at 27th Arab-US Policymakers confab DUBAI, UAE, Nov 1: Khalaf Ahmad Al Habtoor, Founding Chairman of the Al Habtoor Group addressed hundreds of global leaders at the 27th annual Arab- US Policymakers Conference held at Ronald Reagan Building and International Trade Center in Washington, DC on Oct …

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‘Project to create job & investment’

KUWAIT CITY, Nov 1: The Public- Private Partnership Projects Authority on Sunday will sign a document of commitment with an investor who won in the bidding for Umm Al-Hayman extension project and related works, reports Al-Rai daily. Project Director at the authority Nayef Al-Haddad disclosed that the agreement signing is …

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KDIPA welcomes WBG report on business reforms improvement

Authority appreciates efforts of Municipality KUWAIT CITY, Nov 1, (KUNA) : Kuwait Direct Investment Promotion Authority (KDIPA) said the 2019 Doing Business Report of the World Bank Group (WBG), came in recognition of the reforms made between June 2, 2017, and May 1, 2018. The improvement featured clearly in two …

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