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,...

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

The bank's return on assets improved marginally to 1 percent.

TRENDS Twitter poll suggests 48% candidates face discrimination during job recruitment process in the Gulf region, while 30% do not, and 22% remain unsure.

Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to facilitate investments by foreigners and the local private sector.

Seeing no way out of a political crisis that has prevented the country from having an effective government, Kuwait's emir has dissolved parliament on Monday and called a new general election. The wealthy Gulf state, the only nation in the region to have an elected government, remains mired in political...

Syria was suspended from the Arab League in 2011 over Assad's brutal crackdown of pro-democracy protests. But on Wednesday, in the latest sign of an easing in tensions with Damascus, Syrian Foreign Minister Faisal Mekdad arrived in Jeddah, the first such visit since the war began.

Syria's President Bashar al-Assad, diplomatically isolated since the start of the Syrian war in 2011, has visited the UAE and Oman over the past two months. An Arab League summit is expected to be held in Riyadh in May.

Dubai, UAE -- Kuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has named Manaf Abdulaziz Al Hajri as minister for finance and minister of state for economic and investment affairs in the new cabinet announced Sunday. Most of the ministerial portfolios remain unchanged in the new cabinet, such as Bader Al...

Sunday's move "caught the markets off guard" and reversed recent oil-price gains, noted ActivTrades analyst Ricardo Evangelista. "With the fizzling out of the banking crisis and the return of optimism to the markets, the price of the barrel was already showing signs of recovering," he noted.

The company announced Earnings Per Share of 10.1 fils.

Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total more than one million barrels per day -- the biggest reduction since the OPEC+ cut 2 million bpd in Oct. A Saudi official called it a measure "aimed at supporting...

Abu Dhabi, UAE - The AD Ports Group has launched a new weekly shipping service that facilitates commercial and logistic connectivity with Qatar and Kuwait. The services are likely to be free for cargo arriving via land transport throughout Ramadan, which will be shipped via container vessels between UAE’s Khalifa...

It suffers from constant stand-offs between elected lawmakers and cabinets installed by the ruling Al-Sabah family, despite a parliamentary system in place since 1962.

Abu Dhabi, UAE-- In order to improve commercial connectivity and trade between the UAE and Kuwait, AD Ports Group launched a new direct shipping service dedicated to Ro-Ro between UAE’s Khalifa Port and Kuwait’s Shuwaikh Port. Commenting on the launch of the new shipping service, Captain Ammar Mubarak Al Shaiba,...

The ruling was made due to discrepancies in the decree dissolving the previous parliament, the official KUNA news agency said. The September polls were the most inclusive in a decade and saw opposition members take a parliamentary majority with 28 out of 50 seats.

Dubai, UAE--Agility Logistics Parks (ALP) today announced the launch of data center campus sites in Saudi Arabia, Kuwait, Egypt and Ghana. The sites are being readied at ultra-modern ALP warehousing complexes in fast-growing markets and mega-cities that are looking to add hyperscale data center capacity and resolve data latency, security...

Kuwait's government resigned on January 23, three months after it was sworn in, following disputes with lawmakers that have plunged the Gulf state into political paralysis. Kuwait's National Assembly is the only fully elected parliament in the Gulf but it has been fraught with repeated crises between the executive and...

The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest.

Abu Dhabi, UAE--- Non-oil foreign trade between the UAE and Kuwait has grown 87 percent over the past ten years to reach AED43 billion ($11.70 billion) by the end of 2022, compared to AED23.3 billion in 2013, according to UAE's Federal Competitiveness and Statistics Centre (FCSC). The FCSC data showed...

Munich, Germany--Kuwait Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah met High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell on the sidelines of the 59th Munich Security Conference. During the meeting, Sheikh Salem explained the stance of Kuwait on the issue of Schengen visa waiver...

Abu Dhabi, UAE--Abu Dhabi today announced the inauguration of the bilateral linkage of the traffic systems between the UAE and Kuwait. This came in a bilateral meeting held in Abu Dhabi between the delegations of the two countries, where Maj. Gen. Khalifa Hareb Al Khaili, Under-Secretary of the Ministry of...

Riyadh, Saudi Arabia--The Invest in Saudi Arabia forum, which will be held on Monday in Kuwait, will see the participation of the representatives of the private sector of both countries, major companies and government agencies. Saudi Arabia's Minister of Investment Khalid bin Abdulaziz Al-Falih will be visiting Kuwait to attend...

The budget deficit will swell to five billion dinars (more than $16 billion) for the year starting in April, up from the $10.3 billion predicted for the current fiscal year, the finance ministry said. Kuwait, a major oil producer and member of the OPEC cartel, has the Gulf's only fully...

Spending will rise by 11.7 percent to more than $86 billion, with 80 percent going on civil service wages and public subsidies.

The bank will pay 6 fils in cash and 6% in bonus shares.

Three months after it was sworn in, Kuwait's government tendered its resignation in the wake of disputes with lawmakers, plunging the oil-rich state into political paralysis. The country's National Assembly is the only fully elected parliament in the Gulf but it has been fraught with repeated crisis between the executive...

The Kuwait Central Statistical Bureau said that inflation rate rose 0.17 percent in December on a monthly basis.

The Gulf country expects the average amount of oil production to increase to 2,701,000 barrels this year, the latest Institute of International Finance report points out.

BAGHDAD, IRAQ - The Civil Aviation Authority announced the work to conclude new air agreements with the Gulf states. A spokesman for the Civil Aviation Authority, Jihad Al-Diwan, told local media agency: "We have agreements with all Gulf countries and all Gulf national carriers that land in Iraqi airports, except for...

BASRA, IRAQ - Iraq has apologized to its neighbor Kuwait after a scuffle in the VIP section prevented the Kuwaiti emir's representative from attending opening ceremonies at the Gulf Cup football tournament. Matches are taking place in the city of Basra, near Kuwait, as war-scarred Iraq hosts the regional event for...

Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according to the Arab Monetary Fund (AMF). The AMF said in a statement that the market value of the Abu Dhabi Securities Exchange reached $714.6 billion in the reference year, while...

Kuwait City, Kuwait--Kuwait, one of the hottest countries on Earth, has been hit by a rare hail storm that delighted children and their parents, with images of the winter white shared widely on social media Wednesday. "We have not seen so much hail during the winter season in 15 years," Muhammad...

Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent. Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications...

The Gulf Cup brings together the hosts as well as Saudi Arabia, Kuwait, Qatar, Yemen, Bahrain, Oman and the United Arab Emirates. It will be held in Iraq's southern city of Basra from January 6-19.

The adoption of digital currencies can help open new business segments as the use of these assets increases with time, Daniel Takieddine, CEO of MENA BDSwiss, tells TRENDS.

The deal is expected to boost capital markets in the region.

The Palestinian govt has no money to support would-be entrepreneurs, environment for foreign investors is too risky and the Israeli occupation makes condition worse, say experts.

Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices has fuelled economic growth across the Gulf region.

Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field shared between the two countries. President and CEO of Saudi Arabian Oil Company Eng. Ali Bin Saleh Al Ajmi signed the MoU for the Saudi side, while CEO Kuwait Gulf...

A direct flight from Kuwait to Dushanbe will be operated.

Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.

The new securities bear a maturity term of six months and a return rate of 4.25 percent.

Kuwait City, Kuwait— Encouraging Kuwaiti entrepreneurs to make investments in the UK, Penny Mordaunt, Leader of the House of Common, said businessmen could create a new income resource in the country. Speaking to media in Kuwait, she said her discussions with the Prime Minister Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah centered...

Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed, a latest report points out

The profits grew by 1,3 percent compared to 9M period last year.

The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report.

Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across the country by 2060. In this regard, Kuwait intends to embrace a national strategy to achieve the target, according to Kuwait's Environment Public Authority chief. This stems from the country's...

United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to work with international relief organizations in order to ensure food security for the country. Sheikha Alia Ahmed bin Saif Al-Thani, UN Permanent Representative of Qatar, said at a UN General...