June 11th, 2019 | 0 commentsHis Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah has instructed the Public Institution for Social Security (PIFSS) to continue looking into all works done during its former director-general’s term of office. His Highness the Prime Minister has also ordered that all violations in this regard be taken to the Public...
June 11th, 2019 | 0 commentsThe All-Share Market index went up 0.75% or 43.74 points to close Monday’s session at 5,880.94 points. Similarly, the Premier Market index gained 1.05% or 66.89 points to reach 6,438.89 points, while the Main Market retreated 0.09%. Boursa Kuwait’s turnover increased by 55.5% to KWD 68.57 million, the highest level in three months, in lin...
June 11th, 2019 | 0 commentsKuwait has supplied Saudi Arabia with 172 megawatts (MW) of electricity due to a power failure in the Kingdom’s electricity grid. The power supply to the oil-rich kingdom took around eight minutes, according to Al Watan newspaper. Kuwait transferred power to its GCC neighbour through Al Zour North Power Plant. The electricity supply is pa...
June 11th, 2019 | 0 commentsThe All-Share Market index of Boursa Kuwait started Monday’s trading session 0.51% higher. Similarly, both the Main and Premier markets added 0.16% and 0.67%, respectively. By 9:20 am Kuwait time, the banking segment topped the gainers with 0.87%, while the insurance sector led the decliners with 0.89%. Abyaar Real Estate was the top winn...
June 11th, 2019 | 0 commentsBusiness partners owe KWD 1.407 million in debts to Kuwait Cable Vision Company, the Kuwaiti firm chairman told Al Rai newspaper. Farah Media Company’s debts owed to Kuwait Cable amounted to KDW 182,000, while ShahrZad Company’s unsettled amounts to the provider of satellite TV stations reached KWD 543,500, along with KWD 682,300 in outst...
June 11th, 2019 | 0 commentsKuwait’s Directorate General of Civil Aviation (DGCA) has put decision No. 71/2018 and decision No.10/2019 into effect as of Sunday, 9 June. The decisions ban tour agencies from selling flight tickets at a lower cost than their real prices and authorise airline companies to set their prices, Al Rai newspaper reported. Tour agencies will b...
June 11th, 2019 | 0 commentsOsoul Investment Company has said that its 99% subsidiary, Osoul House Real Estate, signed a contract to sell two properties in Salmiya region with a combined value of KWD 3.5 million. The buyer paid KWD 350,000 as a down payment to Osoul House, according to a statement to Boursa Kuwait on Monday. The deal will be completed after finishin...
June 11th, 2019 | 0 commentsFinancial markets underwent a pressure through May amid unfavourable global trade conditions, and worries over the consequent impact on growth, the National Bank of Kuwait (NBK) said on Monday. Major stock indices dropped around 7% worldwide during the month, while benchmark bond yields dived sharply, NBK said in its Economic Update repor...
June 11th, 2019 | 0 commentsThe Central Bank of Kuwait (CBK) has issued bonds and related tawarruq worth KWD 280 million ($924.3 million), with a 3.125% yield. The issue has a six-month maturity period, according to the CBK’s statement. It is noteworthy that bonds and related tawarruq offered by the CBK aim at regulating liquidity to withdraw surplus in the local ma...
May 28th, 2019 | 0 commentsResponding to the growing number of street vendors, namely children displaying goods for sale on a number of streets, municipal councilmembers Ahmad Al-Enezi and Humoud Al-Enezi demanded issuing temporary licenses to vendors to legalize their status. “It is unacceptable to fight them, confiscate their goods and show inappropriate photos o...
