Tuesday , September 18 2018


KOC wins billion dollar lawsuit filed by Korean contracting firm in 2014

‘PIC committed to concept of sustainable dev, its practices in Kuwait’ KUWAIT CITY, Aug 19: The International Arbitration Commission in London Friday ruled in favor of the Kuwait Oil Company (KOC) in the billion dollars lawsuit filed by a Korean contracting company in 2014, reports Al-Anba daily. This is a …

Read More »

Oil sector to produce 1,500 mw of solar cells, says Al-Rasheedi

KUWAIT CITY, Aug 18: Oil Minister and Minister of Electricity and Water Bakheet Al- Rasheedi was recently quoted as saying the oil sector will produce 1,500 megawatts of solar cells before the end of this year, reports Al-Anba daily. In a press statement Al-Rasheedi said the Ministry of Electricity and …

Read More »

Turkish lira slump is temporary, says head of National Popular Movement

KUWAIT CITY, Aug 18: Head of National Popular Movement Saoud Rashid Al-Hujailan says the fall in the value of Turkish lira to a record low is just a temporary “summer cloud” that will not continue, reports Al-Anba daily. He stressed that Turkey will remain the “iron man that will not …

Read More »

Kuwait current account surplus reaches highest in 3 years

KUWAIT CITY, Aug 18: Kuwait’s current account reached its highest surplus in three years in Q1 2018, standing at $5.58 billion, or 17 percent of quarterly GDP, according to a new report from the Central Bank of Kuwait. According to the report, an increasing trade surplus and higher oil prices …

Read More »

Expenditure for fiscal 2018/19 reaches 3.6 pct in first quarter

‘49 pc of projects are ongoing’ KUWAIT CITY, Aug 16: The first quarter follow up report on the annual plan for fiscal 2018/2019 revealed the expenditure for this period reached 3.6 percent, approximately equal to that of the same period in fiscal 2017/2018, reports Al-Anba daily. The report disclosed 49 …

Read More »

Record turnout for purchase of Turkish lira in Kuwait

Luxury Turkish products now less expensive KUWAIT CITY, Aug 16: An unprecedented turnout of Kuwaitis – both individuals and traders – who thronged the exchange markets to benefit from the sharp drop in the value of Turkish lira was witnessed on Wednesday, Aug 15, reports Al-Nahar daily. The decline in …

Read More »

Kuwait aspires to be active aviation center, says official

KUWAIT CITY, Aug 15, (KUNA): Kuwait through its new visionary schemes seeks to be an active hub for air transportation for passengers and cargo, affirmed Directorate General of Civil Aviation Chairman Sheikh Salman Sabah Al-Salem Al-Humoud Al- Sabah on Wednesday. Sheikh Salman, in a statement marking first commercial flight by …

Read More »

CBK introduces free SMS alerts

KUWAIT CITY, Aug 15:  Kuwait’s Central Bank (CBK) has instructed all local and foreign banks in the country to provide their clientele with the Short Message Service (SMS) free of charge, giving them real-time transaction alerts. The SMS service encompasses all debit card transactions as well as online banking, but …

Read More »

Kuwait Audit Bureau to host INTOSAI committees’ meetings in September

KUWAIT CITY, Aug 15, (KUNA): The Audit Bureau announced on Wednesday it would host annual meeting of INTOSAI’s Capacity Building Committee (CBC) and a meeting for Intosai’s Donor Steering Committee (IDSC) for five days as of Sept 3. The forecast meetings will be “the grandest event for the higher audit …

Read More »

KFH and Markaz say Turkish lira slide impact on their investments minimal

Kuwait Finance Center’s investments in Turkey amounts to $5.72mn, less than 2% of shareholders’ equity DUBAI, Aug 14, (Agencies): Kuwait Finance House (KFH), the country’s second-biggest lender by assets, said on Tuesday that its Turkey financing portfolio is stable and diversified between the Turkish lira and major foreign currencies. The …

Read More »
Translate »
Social media & sharing icons powered by UltimatelySocial