The investment bank bought a 35% stake in Kuwaiti firm.

Kuwait City, Kuwait-- Kuwait is looking to strengthen cooperation with the World Health Organization in all health services, according to the oil-rich country's Health Minister Dr. Ahmed Al-Awadhi. According to Kuwait News Agency, the minister met with Dr. Hanan Balkhy, assistant director for antimicrobial resistance at the WHO, to discuss...

Net profit was affected by higher interest rate.

New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently employing more than 3.55 million people from the world's most populous country, India's Minister of State for External Affairs, V Muraleedharan, told parliament. The number of Indians in the UAE...

The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export bans, disrupting global supply chains.

Kuwait City, Kuwait - Kuwait has barred hit film Barbie from cinemas over concerns about "public ethics", officials have said, also confirming a separate ban on a horror movie featuring a transgender actor. Barbie and Talk to Me both "promulgate ideas and beliefs that are alien to the Kuwaiti society and...

The film titled 'Talk to Me' features Australian actor Zoe Terakes. (AFP)

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said. During June, Japan's total crude oil imports were 68.5 million barrels,...

BEIRUT, LEBANON - A Lebanese minister on Saturday sought to clarify comments condemned by Kuwait over aid money to rebuild Beirut's grain silos that were destroyed in a devastating port blast three years ago. The oil-rich Gulf state in 2020 said it was ready to rebuild the storehouses, which Lebanon had...

The dispute over the field -- known as Arash in Iran and Dorra in Kuwait and Saudi Arabia -- dates back to the 1960s when Iran and Kuwait awarded overlapping offshore concessions. Last year Kuwait and Saudi Arabia signed an agreement to develop the field, despite objections from Iran which...

Both Saudi Arabia and Kuwait renewed "their previous and repeated calls to the Islamic Republic of Iran to negotiate" the demarcation of their maritime borders to settle the issue, according to the statement carried by the official Saudi Press Agency (SPA). Recent attempts to revive negotiations have failed.

Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are projected to experience faster growth rates compared to other member nations

Kuwait City, Kuwait -- As the blazing summer sun beats down on Kuwait, shoppers stroll down a promenade lined with palm trees and European-style boutiques, all without breaking a sweat. In one of the world's hottest desert countries, it's all made possible by architecture and technology: the entire street is located...

The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups.

Earlier this month, Kuwait had invited Iran for another round of maritime border talks after Tehran said it was ready to start drilling in the field. On Thursday, Sky News Arabia quoted Kuwait's Oil Minister Saad Al-Barrak as saying his country would begin "drilling and production" at the gas field...

Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry said, crediting last year's surge in oil prices. The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry said.

The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry said. More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.

Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur to European markets. Ghanim Al-Otaibi, the deputy CEO of Fuel Supply Operations and official spokesman for KNPC, said that the volume of the shipment that was exported from Mina Al-Ahmadi...

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies.

DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a living washing cars in one of the planet's hottest regions, the Gulf. Pausing from his work at an outdoor carpark in Dubai, the Egyptian migrant says the UAE's furnace-like summer...

Kuwait City, Kuwait - The finance minister of Kuwait, one of the world's biggest oil producers, has resigned only three months after his appointment by the prime minister, state media said on Wednesday. Manaf Al-Hajeri' resignation comes against a backdrop of perpetual political turmoil in the only Gulf Arab state with...

Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the draft budget estimates oil revenues of 17 billion dinars, a 19.5 percent decrease from the previous budget.

Dubai, UAE -- Kuwait ranked third and Qatar 22nd on the list -- prepared by the World of Statistics -- of the countries with large millionaire populations. About 15 percent of Kuwaitis were millionaires, after Hong Kong's 15.3 percent and Switzerland, which had the highest number of millionaires (15.5 percent)...

KUWAIT CITY, KUWAIT -  Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready to start drilling in a disputed gas field in the resource-rich Gulf. Kuwait insisted it held "exclusive rights" to the maritime field along with Saudi Arabia, after the neighboring countries...

The kingdom had already condemned Wednesday's incident in which an Iraqi citizen living in Sweden stomped on the Muslim holy book and set several pages alight. The foreign ministry summoned the ambassador on Sunday to urge Sweden "to stop all actions that directly contradict international efforts seeking to spread the...

Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according to US Energy Information Administration (EIA) estimate. OPEC members earned about $888 billion in net oil export revenue last year. That’s what the US Energy Information Administration (EIA) estimates in...

Kuwait -- Kuwait's General Administration of Civil Aviation (GACA) and the South Korean Ministry of Land, Infrastructure and Transport signed a memorandum of understanding (MoU) on June 28 to regulate air operations between the two countries and increase their cooperation in civil aviation. The MoU, which amends the agreement signed...

Paris, France - Kuwait and France discuss bilateral relationship and cooperation on regional and global issues of shared interests on Tuesday.  The discussions took place during the meetings between the visiting Kuwaiti Minister of Foreign Affairs, Sheikh Salem Abdullah Al-Jaber Al-Sabah, and the French Minister for Europe and Foreign Affairs Catherine...

KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May to settle at US$130.6 billion (KD 39.6 billion). Local banks' private sector deposits increased by 0.6 percent to settle at US$119.4 billion (KD 36.2 billion), revealed the CBK's economic research...

NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in countering terrorism and exchanging experiences. "The memorandum will enhance cooperation, exchange of experiences, training of youth and those concerned with the country in combating terrorism, and...

Hossein Amir-Abdollahian's visit to the UAE followed stops in Qatar, Kuwait and Oman -- the latest in a flurry of diplomatic moves by Tehran as it seeks to reduce its isolation, improve its economy and project strength. He discussed "bilateral relations and ways to enhance cooperation" with UAE President Sheikh...

Kuwait City, Kuwait-- Kuwait's Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah urged parliament members to focus on reforms "for the sake of Kuwait" with objective of meeting aspirations of citizens to achieve prosperous future. "We are facing a new phase" during which MPs should focus on reforms, a phase full...

Kuwait - Kuwait on Sunday formed a new government led by the Prime Minister, Sheikh Ahmad Nawaf Al-Ahmad Al-Jaber Al-Sabah. The Deputy Amir, Sheikh Mishal Al-Ahmad Al-Jaber AlSabah signed a decree approving the new a 15-member government line-up.  The Gulf Arab state also named a new defence minister, Sheikh Ahmad...

Baghdad, Iraq - The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ alliance have succeeded in achieving stable oil price that will benefit member states and oil industry, Saudi Energy Minister Prince Abdulaziz bin Salman Al-Saud said Friday. The Saudi minister made the statement during a celebration hosted in...

Kuwait-- Kuwait has urged European states to facilitate the granting of Schengen visas for Kuwaiti citizens. The call was made by Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah who received at a luncheon several European ambassadors, heads of diplomatic missions and charge d'affaires serving in Kuwait. The minister called upon...

GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is that Cloud Service Providers must reside in their service regions, overcoming which could significantly expand regional financial services and mark a new phase in GCC's financial evolution.

Lawmakers from opposition won 29 of the 50 seats up for grabs in the election, according to results announced by the official Kuwait News Agency. The vote on Tuesday came after Kuwait's constitutional court in March annulled the results of last year's election -- in which the opposition made significant...

"We consider today an important day in the relations of the Islamic Republic of Iran and the Kingdom of Saudi Arabia," Iranian Deputy Foreign Minister Alireza Bigdeli told a flag-raising ceremony. "The cooperation between the countries is entering a new era."

Polls opened on Tuesday in Kuwait's seventh general election in just over a decade, following repeated political crises that have undermined parliament and stalled reforms. More than 793,000 eligible voters will have the chance to determine the make-up of the 50-seat legislature in the Gulf state.

The oil-rich country suffers from constant stand-offs between elected lawmakers and cabinets installed by the reigning Al-Sabah family. The opposition is taking part in Tuesday's vote in which 207 candidates, including 13 women, are standing, the lowest number of candidates in a legislative election since 1996.

"While commemorating 75 years since the crisis, we remember with sorrow the crime against humanity the Palestinian people faced in 1948, when hundreds of thousands were forcefully displaced and were forced to stay away from their land and home for over seven decades," AlBannai adds

Kuwait - Kuwait's Constitutional Court has upheld a previous ruling that declared the September 2022 parliamentary election void, in which the opposition had made gains, Reuters reported.  The court rejected an appeal against this decision, which was filed by members of the 2022 parliament who argued that the court had...

The new envoy, Alireza Enayati, previously served as Iran's ambassador to Kuwait, assistant to the foreign minister and director general of Gulf affairs at the foreign ministry, the English-language Iran Daily said. There was no immediate confirmation of his appointment from the foreign ministry of the Islamic republic.

Kuwait: Tanishq from the House of Tata is showcasing its range of gold and diamond jewellery at the Gold and Jewellery in Kuwait City taking place from 24-29 May at Kuwait International Fairs Ground. An important platform for designers, global jewellery retailers, wholesalers, and suppliers, the highly regarded annual event...

The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.

This amounts to cash dividend of 54 percent (54 fils per share)

Kuwait City, Kuwait – Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, announced on Monday that it had been awarded a long-term contract by the Kuwait Ministry of Electricity & Water & Renewable Energy to optimize the performance of the Sabiya power and water distillation station and boost...

Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to the latest data released by the Islamic Republic. According to Iran Customs Administration, the Islamic Republic traded 58.25 million tons of goods (excluding crude oil exports) worth $35.11 billion with...

Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued at $1.05 billion. In a statement, the CBK said that the value of the first issuance amounted to KD 160 million (about USD 528 million) for three months with a...

Kuwait City, Kuwait -- At least 31 Kuwaitis have filed candidacy papers for Kuwait's National Assembly election set to take place on June 6.  The candidates presented their documents to the election affairs department affiliated with the Ministry of Interior on Saturday, bringing the total number of candidates to 61,...