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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

Broker strikes historic real estate deal

January 26, 2020

Broker strikes historic real estate deal

KUWAIT CITY, Jan 25: A broker has struck a historic multimillion real estate deal by selling a huge commercial complex (1,600 square meters) located in Jahra for KD20 million with 7.8 percent return, reports Al-Qabas daily.

It is worth mentioning that the report of Kuwait Finance House (KFH) for the third quarter of 2019 showed the"... 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 receives 3rd A320 plane

January 26, 2020

Kuwait receives 3rd A320 plane

KUWAIT CITY, Jan 25: Kuwait Airways has taken delivery of the third plane (A320) after being flown from the Airbus plant in the German city of Hamburg.

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The KAC Chief Executive Officer, Kamel Al-Awadhi, said in a press release on Saturday that"... Continue Reading

Health minister orders ‘forming’ of panel to study vaping effects

January 26, 2020

Health minister orders ‘forming’ of panel to study vaping effects

KUWAIT CITY, Jan 25, (KUNA): Minister of Health Sheikh Dr Bassel Al-Sabah has ordered formation of a panel to examine reports issued by the US Centers for Disease Control and Prevention (CDC) on illnesses and deaths resulting from vaping.

The MoH said in a statement on Saturday that the committee, headed by the the assistant undersecretary"... Continue Reading

Zain’s star entrepreneurs meet Kuwait’s investment community

January 26, 2020

Zain’s star entrepreneurs meet Kuwait’s investment community

KUWAIT: Zain, the leading digital service provider in Kuwait, successfully concluded the fifth edition of its Zain Great Idea (ZGI) tech startup accelerator program. The conclusion came during the company’s Zain Demo Day event, through which Zain’s 11 entrepreneurs met Kuwait’s investment community at Four Seasons Hotel with the presence of their families, the local entrepreneurial community,"... 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 with"... Continue Reading

Indian boy from UAE makes it big in First Lego League

January 26, 2020

Indian boy from UAE makes it big in First Lego League

Sarthak Dayal Mathur, a year 11 student at Cambridge International School, Dubai has made his school proud by winning at the FIRST LEGO League, one of the challenging guided global competition for young, bright and future minds in Robotics.

First LEGO League program is built around theme-based challenges to engage children ages 9 to"... 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 Four"... 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 Economic Conditions Survey (GECS), jointly published by ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants) the findings also point to mixed results from government spending measures as some economies make greater efforts to boost the non-oil sectors of their economies, e.g. United Arab Emirates (UAE), Qatar and Saudi Arabia. Commenting on the findings, Fazeela Gopalani, Head of Middle East ACCA, said: ‘A revival...... Continue Reading

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