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FINANCE & ECONOMY

Business confidence falls across the Middle East with further decline in sentiment expected

July 23, 2017

Business confidence falls across the Middle East with further decline in sentiment expected

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS).

The region is also likely to face further challenges over the coming year, according to the quarterly"... Continue Reading

Kuwait's trade surplus with Japan up 46pc

July 22, 2017

Kuwait's trade surplus with Japan expanded by 46.1 per cent from a year earlier to 25.6 billion yen ($228 million) in July, up for the sixth month in a row, thanks to brisk exports, said state news agency Wam citing data from Japanese Finance Ministry.

Kuwait’s overall exports to Japan grew 20.4 per cent year-on-year to 38.8 billion yen ($346 million) for the sixth consecutive month"... Continue Reading

Burgan Bank's H1 net income up 24pc

July 22, 2017

Kuwait-based Burgan Bank Group has registered a 24 per cent jump in its net income for the first half of 2017 which soared to KD39 million ($128 million) from last year's KD31.4 million ($103.5 million).

Announcing the earnings for the first six months, Burgan said the selective and prudent growth approach amid regional operating environment complexities, continues to yield good results,"... Continue Reading

Kuwait sends 3rd batch of relief aid worth $53 million to Yemen – Weekly roundup of Kuwait’s relief efforts

July 22, 2017

Living up to its status as a “humanitarian center,” Kuwait continued its relief work and campaigns to all those in need in the Middle East and beyond throughout the just-ended week.

In Yemen, Kuwaiti aid worth $53 million trickled into the fellow country last Sunday, setting in motion the third batch of emergency assistance"... Continue Reading

Kuwait's Ethylene 2 Plant resumes production

July 21, 2017

Kuwait's Ethylene 2 Plant Tuesday resumed operation following a brief shutdown for technical considerations last week, the EQUATE Group announced today.

'Operations at our EU2 have resumed normally in record time following repairs. Both the Ethylene Glycol and Polyethylene plants in Kuwait have returned to the usual production"... Continue Reading

US$1.4 billion in loans by Arab Fund for Economic, Social Development in 2016

July 21, 2017

A total of US$1.4 billion in nine loans were provided by the Arab Fund for Economic and Social Development, AFESD, to six Arab countries during 2016.

The credit has been used in financing $6.2 billion socio-economic developments, eight of which are new enterprises, said the AFESD, a Kuwait-based pan-Arab development finance institution,"... Continue Reading

Traditional Kuwaiti men's clothing reflect local culture

July 21, 2017

In many cases, clothing has been considered a representation of cultural identity of people from different countries around the globe and this is very true when it comes to traditional garments worn by Kuwaiti men. Though the design is similar to other garments worn by men all over the Gulf region, Kuwaiti traditional men's clothing have distinct features that separate them from the rest.

Speaking"... Continue Reading

Kuwait bourse closes up in choppy session

July 20, 2017

Kuwait stocks headed north on Tuesday after slipping into shallow trough in the last session. The price index rose 12.2 points in choppy trade to 6,813.11 pts helped by renewed buying in select counters. The heavyweights largely ended in the positive territory.

The KSX 15 benchmark climbed 3.13 points to 927.89 pts while weighted"... Continue Reading

Kuwait Chamber seminar on ‘Top 10 GCC Businesses’

July 20, 2017

Sharjah Chamber of Commerce and Industry (SCCI) called upon private sector establishments in Kuwait to participate in the 2017 Sharjah Economic Excellence Award in the category of “Top 10 GCC Businesses” which was launched by the SCCI in early 2017.

The invitation was made during an introductory seminar hosted by the Kuwait Chamber of Commerce and Industry (KCCI) in its premises"... Continue Reading

Kuwaiti official in sponsorship commission scandal

July 20, 2017

Swimming's governing body FINA has been drawn into a commission scandal days before both their presidential elections and the start of the swimming events at the world championships.

Kuwait's Husain Al Musallam, who is standing unopposed as FINA's first vice-president, has been caught up in a controversy for appearing"... Continue Reading

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