December 10th, 2018 | 0 commentsHH the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah said yesterday that “malicious media campaigns” will never succeed in unraveling the impenetrable bond shared by the Gulf Cooperation Council (GCC). Such efforts will be rendered futile given the bloc’s unyielding determination to remain united, he said during annual talks brin...
December 10th, 2018 | 0 commentsHis Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s speech at the 39th GCC Summit is a sincere call for restoring the Gulf bloc’s previous spirit, His Highness Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah said in a statement yesterday. Commending His Highness the Amir’s speech, His Highness Prime Minister said that it...
December 10th, 2018 | 0 commentsMP Yousif Al-Fadhalah announced that the private labor law’s amendments concerning indemnity and adjusting article 70 of law 85/2019 concerning official leaves will be discussed in a parliamentary session on Jan 8, before preparing a report by the parliamentary health committee. Fadhalah added that the adjustments target resolving problem...
December 10th, 2018 | 0 commentsKAMCO Investment and its 69.28%-owned subsidiary Global Investment House have submitted a request to the Capital Markets Authority (CMA) for a plan of merger. KAMCO intends to acquire the remaining shares of Global following the approval of the CMA, according to a bourse filing on Sunday. The company noted that no financial impact can be...
December 10th, 2018 | 0 commentsKuwait Fund for Arab Economic Development (KFAED) has signed two credit facility agreements with the Egyptian government at a total valued of KWD 40 million on Saturday, according to the official website of Kuwait Fund. The first loan is worth KWD 15 million ($50 million) including funding construction of four water desalination plants in...
December 10th, 2018 | 0 comments Kuwait Finance House (KFH) has inaugurated Al Zahraa new banking lounge which is equipped with high-end banking facilities as well as latest financial technologies for the bank’s two tailored programmes, Al Tamayyoz and Al Ruwwad. The new banking lounge comes as part of KFH’s vision to provide its valued customers with a superior service...
December 10th, 2018 | 0 commentsEffect Real Estate Co said that its losses enlarged by 237.3% during the third quarter ended on 31 October 2018 compared to the corresponding period a year ago. Losses deepened to about KWD 61,060 ($200,860) in Q3 ended on 31 October 2018 from nearly KWD 18,100 ($59,540) in the same period last year, according to a bourse disclosure on Su...
December 10th, 2018 | 0 commentsThe Central Bank of Kuwait has requested foreign exchange companies in the state to increase their capital requirements, according to Reuters. Kuwait’s central bank noted that the new requirements will be raised to KWD 1.7 million ($5.60 million) from KWD 1.5 million, Reuters added. -Mubasher
December 10th, 2018 | 0 commentsAqar Real Estate Investments announced it has entered a new investment valued at $5 million ($1.53 million) in New Jersey, the US. The Boursa Kuwait-listed company has entered this new business in collaboration with a consortium of investors, according to a bourse statement on Sunday. Aqar expected its annual revenues to increase by KWD 1...
December 10th, 2018 | 0 commentsThe indices of Boursa Kuwait closed Sunday’s trading session with a mixed performance, as the Premier Market went up 0.12%, while both the Main and All-Share indices retreated 0.39% and 0.04%, respectively. Boursa Kuwait’s turnover declined to KWD 20.59 million on Sunday from KWD 30.32 million in the prior session after the trading volume...
