Wednesday 25 May 2016
 
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Kuwait

ME cities among top 15 global retail hotspots

One-third of the top 15 global retail cities are located in the Middle East region, according to JLL’s destination retail report, which looks at the leading cities worldwide for retailing. JLL’s recent report shows 50

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Kuwait to sign up Salini-Limak JV for $1bn residential city

Kuwait is expected to sign within two weeks a $1-billion contract with a joint venture of Italy's Salini Impregilo and Turkey's Limak Construction for its planned South Al Mutlaa City project, an official said on Wednesday. Sout

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Russia eyes Mideast foreign investment drive

Russia, which has attracted $23 billion from the Gulf over the past several years, is once again focussing on the region, even as low oil prices prompt Middle East nations to launch diversification programmes by investing abroad.

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Russia repays $1.7bn Soviet-era debt to Kuwait

Russia has repaid Soviet-era debt to Kuwait of $1.72 billion, the Russian finance ministry said on Friday. The principal debt stood at $1.1 billion, while interests amounted to $620 million, it said. The Soviet Union raised the de

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Gulf Bank posts $29m net profit in Q1

Gulf Bank, a leading lender in Kuwait, has registered a net profit of KD8.8 million ($29 million) for the first quarter of 2016.   This figure is down by KD 1 million year over year, said a statement from the Kuwaiti bank.

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Kuwait’s 360 Mall opens first MCM store

360 Mall, Kuwait’s iconic shopping mall owned by Tamdeen Shopping Center, has introduced the German luxury brand MCM in Kuwait for the first time. The store, which is operated by 360 Style Co. a subsidiary of Tamdeen Group C

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NBK $473.2m capital hike starts on Wednesday

The subscription period for National Bank of Kuwait's proposed capital increase will commence on Wednesday, the Gulf state's largest commercial lender said in a bourse statement. The rights issue will be worth around KD137

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Kuwait confirms presence at Milipol Qatar 2016

Milipol Qatar 2016, a leading international exhibition dedicated to homeland security in the Middle East, has officially confirmed the participation of companies from Kuwait, amongst other regional and global firms at the event. T

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Kuwait minister urges Iran, Opec to freeze production

Kuwait's deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran, state news agency KUNA reported on Saturday. "There is

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Turkish firm Limak set to win Kuwait airport deal

The Kuwait government is set to award a major contract to Turkish firm Limak Construction for the construction, furnishing and maintenance of a new passenger terminal building at Kuwait Airport, said a report. The announcement was

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