April 10th, 2019 | 0 commentsMPs Abdulwahab Al-Babtain and Abdullah Al-Kandari yesterday called for cutting the power to the Egyptian consulate in Salam in South Surra because the consulate rented a building designated for private residence, which caused great harm to residents. The consulate moved to this location a few weeks ago amid protests from MPs. -Kuwait Time...
April 10th, 2019 | 0 commentsThe National Assembly’s legal and legislative committee yesterday passed a draft law calling on the government to grant Kuwaiti citizenship to up to 4,000 people during the current year. The draft law will now go to the interior and defense committee for approval, then it will be sent to the Assembly for voting. The bill gives the governm...
April 10th, 2019 | 0 commentsMP Safa Al-Hashem said yesterday that “importing” expatriates and employing them in administrative jobs in the government is one of the main causes for the high unemployment rate among Kuwaitis. The lawmaker claimed that an unwise recruitment policy by the government has led to a “horrifying” imbalance in the demographic structure in favo...
April 10th, 2019 | 0 commentsKuwait’s Ministry of Electricity on Tuesday announced allocating around KWD 2.6 million to develop seven substations over the coming period, informed sources told Al-Anba newspaper. The seven substations are located in Bayan, Eqaila, Slyl Aljahra, Ministries Complex, Jleeb Al-Shuyoukh, and Khaitan cities, the sources added. -Mubasher
April 10th, 2019 | 0 commentsThe indices of Boursa Kuwait started Tuesday’s trading session with a mixed performance after the All-Share and Premier markets fell 0.25% and 0.47%, respectively, while the Main Market index inched up 0.33%. By 9:20 am Kuwait time, the banking sector was the worst performer with 0.47%, while the consumer goods sector topped risers with 1...
April 10th, 2019 | 0 commentsDar Al Thuraya Real Estate Company plans to start new investments, along with selling some properties over the coming period, the vice chairman of the Kuwait-based property developer said. The firm also seeks to boost revenues generated from leasing properties and from its various activities in subsidiaries, Al-Qabas newspaper reported, c...
April 10th, 2019 | 0 commentsThe price of Kuwait’s crude oil increased by $1.44 to settle at $70.86 per barrel (pb) on Monday, its highest level in five months, compared to $69.24 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Since the beginning of 2019, Kuwait’s crude oil jumped 35.8% pb, or $18.69, compared to $52.17 pb by th...
April 10th, 2019 | 0 commentsSenergy Holding Company on Tuesday announced that its 86.71%-owned subsidiary has been awarded a six-year agreement from Kuwait Oil Company (KOC) at a value ranges from KWD 11 million to KWD 12 million. Under the contract, Senergy’s unit will provide seismic and drilling services for KOC, according to a statement to Boursa Kuwait. Senergy...
April 10th, 2019 | 0 commentsThe investment cost of Kuwait Petroleum Corporation’s (KPC) expansion projects and new refineries may exceed $50 billion, the state-owned firm’s deputy director of marketing said. KPC tends to diversify its oil products and invest in the petrochemicals sector, Jamal Alloughani told CNBC Arabia. Kuwait’s oil giant seeks to produce 15% of t...
April 10th, 2019 | 0 commentsBoursa Kuwait finished Tuesday's trading session on a mixed note, amid a bigger focus by investors on the Main Market index’s stocks. The All-Share and Premier markets shed 0.97% and 1.56%, respectively, while the Main Market index went up 0.54%. By the end of the mid-week session, the All-Share Market index tumbled due to seeing technica...
