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Kuwait Events

Kuwait seeks investors to finance three power projects

Kuwait seeks investors to finance three power projects
Kuwait seeks investors to finance three power projects under a public-private partnership programme.

Proptech Taskeen acquired by real estate giant 3S

Proptech Taskeen acquired by real estate giant 3S
Real estate giant 3S acquires kuwaiti proptech taskeen al oula. The acquisition comes as part of expansion plans for its real estate technical services.

Kuwait offers Apple to enter through KDIPA

Kuwait offers Apple to enter through KDIPA
Kuwait Ministry of Finance proposed Apple to enter Kuwait through Kuwait Direct Investment Public Authority.

Kuwait: $4 billion per year lost to corruption

 Kuwait: $4 billion per year lost to corruption
Nearly $4 billion per year lost to corruption and the deficit could reach $665 billion by 2035, Economic Society warns

Kuwait’s new airport terminal to create 15,000 jobs

 Kuwait’s new airport terminal to create 15,000 jobs
Kuwait International Airport’s new terminal will provide 15,000 job opportunities to young Kuwaiti nationals, According to KUNA reports.

Kuwait raises its liquefied gas shipments to 8 ships

Kuwait raises its liquefied gas shipments to 8 ships
Kuwait raises its import of liquefied gas shipments to 8 ships per month because of the rising temperatures and subsequent power consumption.

GCC banks report record high loans growth in Q2, 2021

GCC banks report record high loans growth in Q2, 2021
Listed banks in the GCC recorded aggregate gross loans at $1.68 trillion at the end of the second quarter (Q2) of the year, a report said.

Iraqi PM to visit Kuwait for business cooperation talks

Iraqi PM to visit Kuwait for business cooperation talks
Iraqi PM Mustafa Al-Kadhimi stated that they are looking forward to establish a joint industrial and commercial zone with Kuwait to further develop the economic partnership.

Kuwait Companies to ‘raise prices’ of consumer products

Kuwait Companies to ‘raise prices’ of consumer products
Kuwaiti Ministry of Commerce and Industry receives request to raise the prices of consumer products by local food and consumer goods importing companies.

Kuwait International Bank completes sale of NMC Health

Kuwait International Bank completes sale of NMC Health
Kuwait International Bank completes the sale of its exposure in troubled UAE healthcare group, NMC.

Equate posts 43% surge in H1, 2021 revenue

 Equate posts 43% surge in H1, 2021 revenue
Kuwait-based Equate Group posts 43% surge in H1 revenue to $2bln. The group remains in a leading cost competitive position and continues to deliver all of its quality products

Kuwait Ports plan region's first city for electric cars

Kuwait Ports plan region's first city for electric cars
Kuwait Ports Authority unveils plans for Middle East's first city for electric car manufacturers

Kuwait's small businesses fight for life

Kuwait's small businesses fight for life
Kuwait's economic makeover is under threat as small businesses fight for life due to the pandemic.

Demand for Filipino workers hikes recruitment costs

Demand for Filipino workers hikes recruitment costs
High demand for Filipino workers raises costs in Kuwait. 10 labour flights from the Philippines due in September, according to a kuwaiti newspaper reports.

Kuwait livestock firm suffers $7m losses

Kuwait livestock firm suffers $7m losses
Kuwait’s Al-Mawashi incurred KD 2.1 million (around $7million) in the first six months of 2021.

Kuwait Names Al-Ghunaiman to Head $700 Billion Wealth

 Kuwait Names Al-Ghunaiman to Head $700 Billion Wealth
Kuwait named Ghanem Al-Ghunaiman as the new managing director of its $700 billion sovereign wealth fund.

Shipa opens e-commerce fulfillment centre in Kuwait

Shipa opens e-commerce fulfillment centre in Kuwait
Shipa, the digital logistics and e-commerce arm of Agility announces the opening of a state-of-the-art e-fulfillment centre in Kuwait.

UN panel pays $600 mn compensation to Kuwait oil firm

UN panel pays $600 mn compensation to Kuwait oil firm
A United Nations panel paid out 600 million USD to Kuwait's national oil company as compensation for Iraq's invasion.

S&P cut Kuwait's rating by one notch

S&P cut Kuwait's rating by one notch
Ratings agency S&P Global Ratings cut Kuwait's rating by one notch citing the Gulf state's lack of a funding strategy to finance its deficit.

Kamco Invest exits stake in Planet Pharmacies

Kamco Invest exits stake in Planet Pharmacies
Kamco Invest announces that it has successfully exits the 60% stake in Planet Pharmacies LLC

Zain net profit zooms up 17% in Q2 2021

Zain net profit zooms up 17% in Q2 2021
Zain group reports a sizable 17% year-on-year increase in Q2 net profit to 41 million Kuwaiti dinar (US$138 million).

Kuwait's real estate sector to recover in H2, 2021

Kuwait's real estate sector to recover in H2, 2021
Kuwaiti real estate sector to start recover from the consequences of the coronavirus pandemic in the second half of 2021, according to Real Estate Union Secretary General.

Kuwait to increase airport capacity to 5,000 arrivals

Kuwait to increase airport capacity to 5,000 arrivals
Kuwait's airport will increase its capacity to 5,000 arriving passengers per day, Kuwait's Directorate General of Civil Aviation (DGCA) announced Wednesday.

Realty union abt non-Kuwaiti owners owning property

Realty union abt non-Kuwaiti owners owning property
Kuwait Real Estate Union criticizes regulation about non-Kuwaiti part owners from owning property in kuwait.

Kuwait resumes direct flights with 12 countries

Kuwait resumes direct flights with 12 countries
Kuwait has resumed direct flights with 12 countries that were halted to restrict the spread of COVID-19, KUNA reported.
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