Tuesday 3 March 2015
 
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Kuwait

Kuwait to award $47bn infrastructure projects

Kuwait is set to award about KD14 billion ($47.2 billion) worth of projects this year, almost double the value of contracts awarded in 2014 in line with its strategy to develop the country's infrastructure, according to a report. La

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Ericsson wins BSS transformation project for Zain Kuwait

Ericsson, a leader communications technology and services, has won the entire Business Support Systems (BSS) transformation project for Zain Kuwait. The deal was signed during the ongoing Mobile World Congress, taking place in Bar

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Kuwait's Americana Q4 net profit falls 28pc

Kuwait Food Company (Americana), whose biggest shareholder has been in talks with several parties to sell a stake in the firm, has posted a 28 per cent drop in fourth-quarter net profit. The operator of restaurant franchises inclu

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Kuwait sovereign fund cuts US investments

The Kuwait Investment Office (KIO), the London branch office of sovereign wealth fund Kuwait Investment Authority (KIA), is gradually reducing its overweight stance on US assets after keeping that position for seven years, its chief executive sa

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Kuwaiti firm in $14m contract with du

Kuwait-based Future International Communications (FIC) has signed a $14 million contract with UAE’s Du towards maintaining fixed and cellular communication, fibre optics and infrastructure networks for du in Abu Dhabi, a report said.

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Ali Alghanim launches BMW X6 in Kuwait

Ali Alghanim & Sons Automotive, the exclusive importer for BMW, MINI and Rolls-Royce in Kuwait, has launched the new BMW X6, the second generation of the sports activity coupé. The new BMW X6, featuring generous interio

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UAE, Kuwait to reopen embassies in Yemen

The United Arab Emirates and Kuwait will reopen their Yemeni embassies in the southern city of Aden instead of the capital Sanaa, the two countries' state news agencies said on Friday. Sanaa was captured in September by the Sh

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Kuwaiti firm CGC wins Abu Dhabi road contract

Kuwait-based Combined Group Contracting Company (CGC) has been awarded a contract to build asphalt roads in Abu Dhabi, UAE, said a report. The deal is worth Dh7 million ($1.9 million) with a duration of 135 days, reported Muba

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Oil price fall cuts Kuwait budget surplus by 26pc

Kuwait's government budget surplus shrank 26 per cent in the first nine months of this fiscal year as lower oil prices cut revenue sharply, analysts at National Bank of Kuwait (NBK) calculated, using Ministry of Finance data.

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United Real Estate profit falls to $26m

United Real Estate Company (URC), a leading real estate firm in Kuwait, said its net profit for 2014 fell to KD7.87 million ($26.5 million) from KD11.2 million ($40 million) the previous year. URC’s chairman Tariq Mohammed A

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