Kuwait's Gulf Bank, the Gulf state's fourth-largest lender by assets, reported a 11.2 per cent rise in third-quarter net profit on Sunday, according to Reuters calculations.
The bank made a net profit for the three months
Crude production from the Khafji oilfield, jointly run by Saudi Arabia and Kuwait, has been halted temporarily to comply with environmental rules, according to an industry source familiar with Saudi policy and an internal letter seen by Reuters.
Kuwait Foreign Petroleum Exploration Company (Kufpec), a wholly-owned subsidiary of Kuwait Petroleum Corp, has launched a $1-billion loan into syndication, said bankers.
The deal is being led by a consortium of international and l
Asar - Al Ruwayeh & Partners, a prominent corporate law firm in Kuwait, said it has won the “National Law Firm of the Year Award” for the sixth consecutive year.
The award for 2014 was presented by the Internationa
The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said.
Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil
The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said on Thursday.
Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said
Kuwait's government is moving towards cutting some of the energy subsidies which drain billions of dollars from the state budget every year, in a politically sensitive reform which could start to curb waste and overuse of its oil resources.
The Gulf Cooperation Council (GCC) states have planned to launch a joint naval force, a top Kuwaiti defence official said, in a bid to protect waters shared with neighbouring Iran.
The new force is expected to be formed in the &ld
Kuwait has maintained a wide discount between the crude it sells to Asia against a comparable Saudi Arabian grade for November, amid increasing signs that Gulf producers are engaged in a price war to compete for market share.
A Kuwaiti lawmaker has proposed a residency cap of a maximum of ten years, that can be renewed only once, for all expatriates working in the country, according to a report.
The conditions imply that no foreigner can stay in Kuwait