Tag Archives: economy

Joint body seen as a tool to activate Gulf economic unity – Al-Ghanim welcomes summit resolution

KUWAIT CITY, June 5, (KUNA): Head of the Federation of the Gulf Cooperation Council (GCC) Chambers of Commerce and Industry Ali Al-Ghanim welcomed the resolution of the Gulf summit held recently in Riyadh aiming to establish a Gulf body for development and economic affairs. In a press statement on Sunday, …

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‘Steps taken to rectify current economic situation of country’

KUWAIT CITY, May 9: Minister of Public Works and State Minister for National Assembly Affairs Dr Ali Al-Omair declared that the periodic reports to the Cabinet concerning the public funds indicate the use of transparency and the steps taken to rectify the current economic situation of the country, reports Al-Rai …

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How Saudi plans to shake up its economy – Privatisations to include tourism, infrastructure, education; some see plan as risky

RIYADH/DUBAI, April 14, (RTRS): In late February, several hundred Saudi officials, company executives and foreign consultants gathered in a luxury Riyadh hotel to discuss how Saudi Arabia’s economy could survive an era of cheap oil. One company manager at the event told Reuters that officials from about 30 Saudi government …

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Kuwait richest among frontier economies

Over the past few years, investors, policy-makers and researchers have increasingly stressed the importance of considering frontier markets and frontier economies as part of the investment opportunity set as well as a source of diversified growth. In standard macroeconomics and development economics1, the theories of economic growth and growth convergence …

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Kuwait govt, Parliament drafting laws to shore up the economy: MP – Declining oil prices will not affect state development schemes

KUWAIT CITY, April 10, (KUNA): The Government and the National Assembly (Parliament) are currently working out a set of legislations intended to remedy economic issues, affirmed MP Dr Yousef Al-Zalzalah on Sunday. “We are seeking to accomplish them in proper time for sake of salvaging the economic conditions that have …

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KFAS to host renowned world economist Richardo Hausman – Lecture on economic complexity and growth on March 16

KUWAIT CITY, March 13: Kuwait Foundation for The Advancement of Sciences (KFAS) will host on Wednesday March 16 a lecture by the internationally renowned Professor Richardo Hausman of Harvard University, titled “Economic Complexity and Secrets of Economic Growth”. Hausman is the architect of practical theories and concepts in economic complexity …

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Pride of place in planning for ‘knowledge economy’

KUWAIT CITY, Feb 1, (KUNA): Eminent academics called on Monday for evolving all levels of education in the country to be a leading factor for knowledge-based economy. Speaking at the last session of the national conference on modern state jobs from an economic point of view, Dr. Adel Al-Huseinan, Vice …

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Singapore GDP growth drops to 2.1 percent in 2015 – Higher borrowing costs likely to further weaken housing market and dampen construction activity

SINGAPORE, Jan 4, (AFP): Singapore’s trade-dependent economy grew by an estimated 2.1 percent in 2015, its worst performance since the 2009 recession, as global demand for Asian exports slumped, official data showed Monday. The gross domestic product expansion figure, down from 2.9 percent in 2014, was based on advance estimates …

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MP proposals to diversify economy – ‘Give industrial sector opportunity to play its role’

KUWAIT CITY, Jan 1: MP Mohammad Al-Huwailah has presented a proposal to enhance the Kuwaiti economy and diversify sources of income by calling for the establishment of industrial cities to attract Kuwaiti and foreign capital. The proposal includes the creation of industrial zones that will comply with laws and regulations …

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Economy shrinks first time since ’2010 – GDP down 1.6% in 2014

KUWAIT CITY, Oct 29, (AFP): Kuwait’s economy contracted last year for the first time since 2010 as the country suffered the consequences of the global drop in oil prices, its central bank said Thursday. The country’s total Gross Domestic Product (GDP) shrank 1.6 percent in 2014, mainly because oilgenerated GDP …

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