Ooredoo Kuwait, the country's No.3 telecoms operator by subscribers, blamed foreign-exchange losses from its Tunisia and Algeria operations as it posted an 89 per cent fall in first-quarter profit that extended a lengthy earnings slump.
Kuwait’s resident credit growth improved to KD96 million ($317 million) in February, remaining relatively modest, with growth rising slightly to 6.4 per cent year-on-year (y/y), a report said.
Growth in household borrowing w
A Saudi Arabian unit of US oil major Chevron has told its Kuwaiti partner it plans to shut down an oilfield jointly operated between the two Gulf Opec countries next month over long-standing disputes, three industry sources familiar with
Kuwait is studying proposals to introduce the same tax rates for local and foreign companies, Finance Minister Anas al-Saleh told reporters on the sidelines of a business conference on Monday.
"There is a list of taxes on loc
Kuwait, which plans to boost oil output capacity by a third by 2020, has discovered four new oilfields in the north and west of the country, a top oil official was quoted as saying by state news agency KUNA on Sunday.
State-run Kuwait Petroleum Corp (KPC) and all affiliated firms remain on alert, state news agency KUNA said on Wednesday, three weeks after Saudi Arabia and Arab allies began military strikes against Houthi militias in Yemen.
Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 14.6 per cent rise in first-quarter net profit on Wednesday, but still fell short of analysts' forecasts.
Net profit rose to KD29.9 million ($99.
Turkish Airlines, the national carrier of Turkey, is inviting travellers from the GCC and other destinations to join in the celebration of the ‘International Istanbul Tulip Festival 2015’, which runs till May 3.
Iran is looking to export natural gas to Kuwait, National Iranian Gas Company chief Hamidreza Araghi said on Sunday, as he confirmed plans to begin exports to neighbouring Iraq next month.
"There is capacity to export gas to
Integrated Logistics Company (ILC), a leading crane rental company in Kuwait, said it has purchased 10 Grove GMK4100L heavy-lifting cranes in line with its fleet expansion strategy.
The Grove cranes work on a variety of projects i