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...

Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director general of the National Fund for Small and Medium Enterprise Development. Adel Al-Hasawi told media that the artificial island, located south of Jaber Causeway, is versatile and will be divided...

Revenue was up 12% to reach $4.2 billion for the same period.

The summit reviews ways to enhance integration of the optimal energy mix for electricity production to achieving climate change targets through MoUs and agreements.

With an estimated 209 million people making purchases online at the height of the pandemic, e-commerce in the MENA area has grown faster than anywhere else.

Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is not too surprising given the continuing travails of many developed Western economies. With the sluggish recovery from the financial crisis in the EU and the US, Gulf economies have had...

Kuwait's crown prince swore in a new government, less than a month after the emirate held parliamentary elections in which the opposition reaped major gains. The polls capped a political stand-off between the former cabinet and legislature that saw lawmakers occupy the national assembly building for days.

Kuwait City, Kuwait— Kuwait has brought in a new oil minister in a new cabinet reshuffle after the September elections. Bader Hamed Yousef Al-Mulla was appointed as Kuwait’s new oil minister on Sunday as part of the Gulf country’s new cabinet. In the reshuffle, Salem Abdullah Al-Jaber Al-Sabah was appointed...

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed, a view corroborated by the IMF and the World Bank.

About 42.6 percent of jobs in the region will be automated by 2030, ahead of the global average of 32 percent, predicts a McKinsey report.

Kuwait City, Kuwait— Kuwait has decided to postpone the convening of the first parliament session after elections to Oct. 18, according to media reports. The news agency KUNA said in a statement: “The National Assembly’s first regular session of the 17th legislative term is adjourned until Oct. 18, head of...

Nykaa will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships to build distinctive GCC focused beauty offerings.

Winning 28 of the 50 seats in the fresh election to parliament, opposition candidates in Kuwait have ousted 20 former MPs, including three former ministers. Two female candidates have also won, ensuring a female presence in parliament after an all-male assembly was elected in 2020.

The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in 2023. However, Brent oil prices may fall to $75/b by 2025 and $70/b by 2027, says a report.

Several opposition MPs had been on strike in protest at delays to parliamentary sessions and the failure to form a new government. A core source of friction is MPs’ demand for ministers from the royal family to be held accountable for corruption.

The tour came within the framework of the kingdom’s efforts to promote tourism destinations, attract tourists from the region and regional markets.

Kuwait has reiterated its support for a peaceful solution to the Yemeni conflict that can bring about peace and stability in the war-scarred country.

Henley Passport Index 2022 ranks 199 countries for the strength of their passports. Japan was ranked first, followed by Singapore and South Korea.

Kuwait--Activities of the local sports season of the Kuwait Camel Racing Club for 2022-2023 season begun on Saturday at Sheikh Fahad Al-Ahmad Al-Jaber AlSabah racetrack. The activities  included nine runs. More than 300 participants of all ages participated in Saturday's race, which contributed towards increasing the number of camels in...

Prime Minister of Jordan Dr. Bisher Khasawneh met Kuwaiti Minister of Information and Culture Abdul Rahman Al-Mutairi, who is in the Kingdom to head his country's delegation in the 21st Amman International Book Fair.

Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills.

The only Gulf state with a fully elected legislature, the key oil producer has been hit by regular feuding between the ruling Al-Sabah family and the assembly. The current government was formed at the start of August after the previous cabinet resigned in April, just three months after being sworn...

The increased production is consistent with announcements made by Kuwait Petroleum Corporation.

The White House said that Sasahara is a career member of the Senior Foreign Service with the rank of Minister-Counselor who has "most recently served as Deputy Assistant Secretary of State for North Africa."

GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings.

Kuwait's National Fund for SME Development (SME Fund) has helped resolve the problems of 132 small and medium-sized enterprises (SMEs) during Covid emergency, said its Director-General Adel Al-Hasawi Under instructions of the cabinet, the Fund is working on applications from 72 SMEs for benefiting from the act on stumbling projects....

Nasser Al-Hein has enjoyed a prolific diplomatic career, having represented his country in a slew of international  events over the years.

Kuwait recalled its ambassador and the United Arab Emirates downgraded relations with Iran after Saudi Arabia that year cut ties with its regional rival, with Bahrain following suit. That came after Iranian protesters attacked Saudi diplomatic missions in Iran following Riyadh's execution of Shiite Muslim cleric Nimr al-Nimr.

Improvement in underwriting and investment push profits up.

A rise in US stockpiles was partly responsible for a 10 percent drop in the commodity last week.

GCC countries will witness a rise in their wealth between 2021 and 2026 after two years of challenging time due to the Covid-19 pandemic, a BCG report points out.

Haitham Al-Ghais of Kuwait has taken over as the new secretary general of  the Organization of the Petroleum Exporting Countries on Monday.