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FINANCE & ECONOMY

Number of Kuwaiti millionaires crosses 35,000

January 16, 2019

Number of Kuwaiti millionaires crosses 35,000

Credit Suisse, the global investment and financial services company, reported that the number of Kuwaiti millionaires had exceeded 35,000 by the end of 2018. Based on growth figures, the number of millionaires is now predicted to reach 39,000 by the end of 2019.

The report shows that while seven individuals in the country were"... Continue Reading

2019-2020 development plan referred to National Assembly

January 16, 2019

2019-2020 development plan referred to National Assembly

KUWAIT: Minister of State for Economic Development Mariam Al-Aqeel yesterday referred the 2019-2020 development plan to the National Assembly after it was reviewed by the Cabinet as part of the 2015-2016/2019-2020 second development plan, said the Secretary General of the Supreme Council for Development and Planning Khaled Mahdi. Speaking at a press conference, Mahdi explained the plan includes 135 projects,"... Continue Reading

Henry Schein and Vets First Choice Announce Board of Directors for Covetrus

January 16, 2019

Henry Schein and Vets First Choice Announce Board of Directors for Covetrus

(AETOS Wire) -- Henry Schein, Inc. (Nasdaq: HSIC) and Vets First Choice today announced their designees who will comprise the 11-member board of directors for Covetrus, the new standalone public company that will result from the planned spin-off of the Henry Schein Animal Health business and the subsequent merger with Vets First Choice. The merger is expected to be"... Continue Reading

‘Kuwait has succeeded in luring foreign investment’

January 15, 2019

‘Kuwait has succeeded in luring foreign investment’

KUWAIT CITY, Jan 14, (KUNA): Minister of Commerce and Industry and the Minister of State for Services, Khaled Al-Roudhan, on Monday affirmed significance of the achievements in the Kuwaiti economy, recorded over the past two years, namely successful attraction of foreign investments. Al-Roudhan, speaking at the “second Kuwaiti-American economic forum,” has mentioned some of the concrete steps"... Continue Reading

Global economic uncertainty weighs on MENA outlook; markets volatile

January 15, 2019

Global economic uncertainty weighs on MENA outlook; markets volatile

KUWAIT: This edition of the MENA Outlook occurs against a backdrop of increased global economic uncertainty and financial market volatility. The IMF, in its October 2018 WEO, revised down its global economic outlook by 0.2 percent to peg world output growth at roughly 3.7 percent over the next two years, a decent enough pace, but noted that the balance of risks is tilted to the downside. These are dominated"... Continue Reading

Second Gulf entrepreneurship forum kicks off in Kuwait

January 15, 2019

Second Gulf entrepreneurship forum kicks off in Kuwait

KUWAIT: The second Gulf entrepreneurship forum kicked off yesterday at Four Seasons Hotel in Kuwait City. The forum was organized by the Ministry of State for Youth Affairs and New Kuwait under the slogan “The most important steps to success”.

During his speech in the opening ceremony of the Forum, Assistant Undersecretary"... Continue Reading

Number of Kuwaiti millionaires to rise – 35,000 end 2018

January 15, 2019

Number of Kuwaiti millionaires to rise – 35,000 end 2018

KUWAIT CITY, Jan 14: The number of Kuwaiti millionaires is expected to rise to 35,000 by the end of 2018, according to a report by Swiss research firm Credit Suisse, reports Annahar daily.

The figure is expected to rise to about 39,000 by the end of 2019, including seven individuals whose wealth exceeded one billion dollars. The"... Continue Reading

Tax returns to reveal dual nationality of Kuwaiti citizens or expats – report

January 15, 2019

Tax returns to reveal dual nationality of Kuwaiti citizens or expats – report

KUWAIT CITY, Jan 14: Kuwait’s move to implement the requirements of the International Joint Reporting determined in CRS, and the consequent provision of legal cover to allow the secrecy of its banking and investment data, is not only of concern to expatriates, because “The agreement will open a new window and disclose the names of those who hold dual nationality,” reports Al-Rai daily.

"... Continue Reading

$4.4 billion mutual trade between Kuwait, UK in 2018: London Mayor

January 15, 2019

$4.4 billion mutual trade between Kuwait, UK in 2018: London Mayor

KUWAIT: Lord Mayor of London, global ambassador for the UK’s financial and professional services industry, Peter Estlin said yesterday that the total worth of mutual investments between Kuwait and UK reached About $4.4 billion in 2018. The amount of investments reached about GBP 3.5 billion, with in an increase of eight percent since 2017.

“Kuwait"... Continue Reading

Private sector leads development in New Kuwait vision: Minister

January 15, 2019

Private sector leads development in New Kuwait vision: Minister

KUWAIT: Over 100 companies from the hospitality and food industry are participating in 8th edition of Horeca Kuwait, being held from Jan 14 to 16, 2019 at the Kuwait International Fairgrounds. The event includes various activities and competitions. “This annual exhibition reflects the New Kuwait vision 2035 that aims to turn Kuwait into an international financial and commercial center, where the private"... Continue Reading

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