Tuesday , October 16 2018


Saudis try once ‘lowly’ jobs as economy bites

Cultural attitudes to work changing amid major retooling of lagging economy RIYADH, Aug 1, (AFP): Dishing out burgers and fries slathered with melted cheese, “One Way Burger” is like any other trendy food truck in Riyadh. But it offers something rare — the cook behind the sizzling hot grill is …

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‘Govt exerting pressure to freeze Fishermen Union’s bank account’

Bid to force fishermen to hand over union’s building KUWAIT CITY, Aug 1: Treasurer of Kuwait Fishermen Union Ali Al-Khayat disclosed that the government is putting pressure on the union through the decision taken by Ministry of Social Affairs and Labor to freeze the bank account of the union and …

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‘Restructuring of real estate sector & development of its mechanisms tied to decisions taken by CBK’

Need to enhance stability of relevant laws: Al-Ghanim KUWAIT CITY, Aug 1: Secretary of Kuwait Real Estate Union Qais Al-Ghanim says the restructuring of the real estate sector and development of its mechanisms are linked to the decisions taken by the Central Bank of Kuwait (CBK). He stressed that the …

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Sharp increase seen in Kuwaiti deposits in Iranian banks

Move tied to about 20 pc interest rate compared to that offered by local banks KUWAIT CITY, Aug 1: There has been a sharp increase in Kuwaiti deposits at Iranian banks lately due to low interest rates offered by Kuwaiti banks compared to those of their Iranian counterparts, reports Al-Qabas …

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Zain H1 net profit rises 5% to KD 86.4 mn

Data revenue up 10%; customer base grows 5% to reach 47.4 million KUWAIT CITY, July 31: Zain Group, a leading mobile innovator with operations in eight markets across the Middle East and Africa, announces its consolidated financial results for the six months to 30 June 2018. Zain served 47.4 million …

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KOC to award contracts

KUWAIT CITY, July 31: Kuwait Oil Company (KOC) has decided to award three contracts valued at KD 23 million ($100 million) covering maintenance of some buildings north of Kuwait and establishment of roads leading to Ratqa oil fields, reports Al-Anba daily. Sources said KOC will award the first contract worth …

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Kuwait said will not waver in executing economic reform

Relatively improved global oil prices help cut budget deficit KUWAIT CITY, July 31: Kuwait will not waver in executing the economic and financial reform initiated three years ago through activation of economic reform document submitted by the Ministry of Finance, which has become the national program for economic and financial …

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Kuwait’s Kufpec signs $1.1 bln finance deal

KUWAIT, July 31 (Reuters) – Kuwait Foreign Petroleum Exploration Company (Kufpec) has signed a $1.1 billion finance deal with a number of banks to help it expand its oil and gas operations, the company’s chief executive said on Tuesday. Japan’s Sumitomo Mitsui Banking Corporation (SMBC), First Abu Dhabi Bank, Societe …

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Red Sea strait ‘unrest’ barely to affect crude prices: expert

Top consumers calling on OPEC to boost output KUWAIT CITY, July 30, (KUNA): In the wake of Saudi Arabia’s decision to suspend oil shipments through the Red Sea’s strategic Bab-el-Mandeb strait, the repercussions of the move on oil prices remain subtle, according to an analyst. Countries bearing the brunt of …

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MoCI to review laws on establishing realty cos

Gulf investors in sector targeted KUWAIT CITY, July 30: Legal Affairs Department in the Ministry of Commerce and Industry is reviewing laws that oblige Gulf investors who are geared up to establish real estate companies in Kuwait to mortgage properties they own in their home countries to make it possible …

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