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Moody’s outlook on Kuwait banking system stable

LIMASSOL, March 14: The outlook for Kuwait’s banking system is stable as the credit standing of Kuwaiti banks will be supported by steady nonoil economic growth and solid financial fundamentals over the next 12 to 18 months, says Moody’s Investors Service in a report published today. The report, “Banking System …

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MP queries renewal of expats work permits

KUWAIT CITY, March 13: MP Mohammed Hayef has submitted questions to Deputy Prime Minister and Minister of Interior Sheikh Khalid Al- Jarrah Al-Sabah regarding the issuance and renewal of work permits for expatriates working in private companies and institutions. He pointed out the law states that the issuance and renewal …

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‘Kuwait lacks VAT setting’ – Local conditions not business-friendly: Al-Badr

KUWAIT CITY, March 13: Implementation of the tax system requires a rich business environment that provides sufficient tax revenues, but this environment does not exist in the country, reports Annahar daily quoting Supreme Council for Planning Member and former Board Chairman of Gulf Bank Ali Rashid Al-Badr. Speaking to the …

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23,500 absconding complaints registered by labour relations depts

KUWAIT CITY, March 13: The Public Authority for Manpower (PAM) has announced that the labor relations departments in different governorates have so far registered 23,500 absconding complaints, reports Al-Anba daily. Director of Public Relations and Information Department and Official Spokesperson of the authority Aseel Al-Mazeedi disclosed that 50 cases have …

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Experts in Kuwait investigating ‘Pharaoh-era’ smuggled antique

KUWAIT CITY, March 13, (Agencies): The coffin lid artifact, which was smuggled to Kuwait earlier this month from Egypt, possibly dates back to the Pharaonic era, reports Arab News quoting sources from National Council for Culture, Arts and Letters (NCCAL). The antique is 170cm long, looks like the statue of …

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Kuwait, Turkmenistan eye bilateral visa exemption accord for diplomats

Both sides sign number of agreements KUWAIT CITY, March 13, (KUNA): Kuwait and Turkmenistan on Tuesday sealed the deal on a number of agreements in a lavish ceremony with both nations’ respective leaders in attendance. Presiding over the proceedings, His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, with His …

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Trump says top diplomat Tillerson out, names Pompeo successor

WASHINGTON (AP) — Rex Tillerson is out as secretary of state. President Donald Trump tweeted Tuesday morning that he’s naming CIA director Mike Pompeo to replace Tillerson. Pompeo is to be replaced at CIA by Gina Haspel, Pompeo’s deputy at CIA. She would be the first woman in that role. …

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‘Minimum monthly salary of KD 120 agreed for Filipino domestic workers’

MANILA, March 12, (Agencies): The Philippines Department of Foreign Affairs (DFA) Secretary Alan Peter S. Cayetano has praised the progress made by the governments of the Philippines and Kuwait during bilateral talks to protect the Filipino workers in Kuwait, says businessmirror.com.ph However, he expressed hopes what he called ‘practical measures’ …

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KAC fails to collect debts of KD 164.286 mln from clients

KUWAIT CITY, March 12: Kuwait Airways Corporation (KAC) has failed to collect debts worth about KD 164.286 million from its various clients, reports Al-Shahed daily. According to reports issued by regulating authorities, there is a decline of KD 10.525 million, which is about 13 percent, in ticket revenues in local …

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Al-Hashel outlines road to prosperity

‘CHANGE, CHALLENGES PART OF CONTEMPORARY REALITY’ KUWAIT CITY, March 12, (KUNA): Governor of the Central Bank of Kuwait (CBK) Dr Muhammad Al-Hashel affirmed Monday necessity of Gulf countries’ careful response to different challenges facing the region to ensure sustainable economic prosperity. Dr Al-Hashel said in a speech delivered at the …

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