Tuesday 28 April 2015
 
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Kuwait

Ooredoo Kuwait net profit plunges 89pc

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.

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Kuwait’s credit growth fails to resume strength

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

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Chevron Saudi unit plans to shut joint Kuwait oilfield in May

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

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Kuwait mulls same tax for local, foreign firms

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

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Kuwait finds four new oilfields with huge volumes

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. Has

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Kuwait's oil facilities on alert due to Yemen

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. The

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Kuwait Finance House Q1 profit up 14.6pc

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.

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Turkish Air invites GCC tourists to visit Tulip Festival

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. The 10

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Iran eyes Kuwait natural gas export deal

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

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Kuwait crane rental firm in Grove fleet expansion

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

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