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FINANCE & ECONOMY

Kuwait budget forecasts record deficit

January 26, 2020

Kuwait budget forecasts record deficit

The Kuwaiti government unveiled a proposed budget for the coming fiscal year that forecasts a record deficit and that highlights the country’s reliance on oil income to fuel its economy and its slow pace of adopting critical fiscal reforms.

The government is facing swift pushback from a vocal parliament on the deficit figure"... Continue Reading

Kuwait ranked last in GCC, 85th globally in CPI. Why?

January 26, 2020

Kuwait ranked last in GCC, 85th globally in CPI. Why?

With a score of 40 out of 100 points, Kuwait has been ranked 85th internationally and 6th in the Arab world on the Corruption Perception Index (CPI) of Transparency International.

In 2003, we were ranked 35th internationally, but our ranking fell to 85th in 2019. Is it possible this was because of our full transparency in publishing"... Continue Reading

Kuwait’s non-oil exports up 9.2 percent 2019

January 26, 2020

Kuwait’s non-oil exports up 9.2 percent 2019

KUWAIT: Kuwait’s Ministry of Commerce and Industry said yesterday that the value of certificates of origin for Kuwaiti non-oil exports rose by 9.2 percent over the past year compared to 2018. The Ministry indicated in a statement that the number of certificates of origin for exports to Arab and foreign countries reached 14,830 at a value of KD 169.6 million ($558 million) in 2019, compared to 8,270"... Continue Reading

Embassy Group Celebrates the Spirit of Patriotism with a Special Tribute on Republic Day

January 26, 2020

Embassy Group Celebrates the Spirit of Patriotism with a Special Tribute on Republic Day

On the landmark occasion of the 71st Republic Day, Embassy Group celebrated the spirit of patriotism by lighting two of its iconic properties with the Indian tri colors, igniting pride and patriotism in every Indian.

Customary that iconic buildings around the world celebrate momentous occasions, Embassy Lake Terraces, Hebbal and"... Continue Reading

Economy Diversifies to Boost Growth in 2020

January 26, 2020

Economy Diversifies to Boost Growth in 2020

A survey of nearly 440 senior accountancy experts on economic conditions in MESA showed a recovery in confidence in Q4. A revival in growth is likely to come mainly from the non-oil sector as the economy diversifies

Detailed in the latest Global"... Continue Reading

Efforts to make nursing job more attractive to Kuwaiti staff

January 26, 2020

Efforts to make nursing job more attractive to Kuwaiti staff

KUWAIT: Ministry of Health’s (MoH) nursing services manager Sana Taqaddom said the new nursing staff cadre will be soon approved thanks to efforts exerted by Health Minister Sheikh Dr Bassel Al-Sabah and his keenness on taking care of and encouraging Kuwaiti nurses, adding that future plans have been set to make nursing more attractive to national staff through increments, training courses and scholarships.

"... Continue Reading

Alafco announces successful closure of a $600 million five-year unsecured Murabaha facility

January 25, 2020

Alafco announces successful closure of a $600 million five-year unsecured Murabaha facility

KUWAIT CITY, Jan 23: Alafco Aviation Lease and Finance Company on Wednesday announced the successful closure of a $600 million five-year unsecured Murabaha facility as it received the last tranche of $80 million, reports Islamic Finance.

The payment marked the last phase of the Murabaha facility, which was signed on 24 June 2019"... Continue Reading

Kuwait drops seven spots in Corruption Perceptions Index

January 25, 2020

Kuwait drops seven spots in Corruption Perceptions Index

KUWAIT: Kuwait is ranked 85th out of 180 countries in the annual Corruption Perceptions Index issued by Transparency International, retreating seven spots with only 41 points out of a total of 100, after it was previously ranked 78th worldwide. Chairman of Kuwait Transparency Society Majed Al-Mutairi said the anti-corruption measures the government had taken over the past two years had been far below expectations"... Continue Reading

HCL Technologies Honors Global Goodwill Champions at the 2020 World Economic Forum in Davos

January 25, 2020

HCL Technologies Honors Global Goodwill Champions at the 2020 World Economic Forum in Davos

HCL Technologies (HCL), a leading global technology company, today presented its Wave Maker Awards 2020, commemorating global goodwill champions from around the world. The award ceremony, which was held at the HCL Pavilion in Davos, celebrated organizations and individuals passionately committed to such noble causes as diversity & inclusion, education & community upliftment, environment & sustainability, and technology for change. Special guest at the awards was Australian cricket legend Glenn McGrath, who is also founder of the McGrath Foundation, which provides support for Australian women diagnosed with breast cancer and their families. The award recipients were; Lois Auta, Founder and Executive Director...... Continue Reading

Moody’s Acquires RDC, a Leader in Risk and Compliance Intelligence, Data and Software

January 25, 2020

Moody’s Acquires RDC, a Leader in Risk and Compliance Intelligence, Data and Software

Moody’s Corporation (NYSE:MCO) announced today that it has agreed to acquire Regulatory DataCorp (RDC), a leading provider of anti-money laundering (AML) and know-your-customer (KYC) data and due diligence services, for $700 million. The deal complements Moody’s 2017 acquisition of company data provider Bureau van Dijk (BvD), creating a global leader in compliance solutions, BvD’s fastest-growing"... Continue Reading

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