Thursday 24 April 2014
 
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Kuwait

Kuwait surplus down 8pc to $72bn

Kuwait's current account surplus shrank by nearly 8 per cent to 20.3 billion dinars ($72.2 billion) in 2013 compared with the  previous year, preliminary central bank data showed on Thursday, in line with market expectations.

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Dispute with other GCC states over: Qatar

Qatar's dispute with three fellow Gulf states, which withdrew their envoys from Doha last month, is "over", according to the Qatari foreign minister. Khaled Al-Attiyah's statement follows a meeting last week in R

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Kuwait's Al Madina files for protection

Kuwaiti firm Al Madina for Finance and Investment Co said on Wednesday it was uncertain of its ability to continue as a going concern, after posting a 26 percent drop in assets and widening its losses for the last financial year.

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Kuwaiti Zain's profit up 8pc on gains in Iraq

Zain, Kuwait's top telecoms operator by subscribers, reported an 8 percent rise in first-quarter profit on Monday, beating analysts' estimates as earnings from Iraq and its domestic business rose and Sudan's currency stabilised.

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Kuwait cbank warns against rising govt spending

Kuwait's rising public spending and dependence on oil revenues are preventing sustainable economic development, the country's central bank governor said, echoing warnings from the International Monetary Fund. Mohammad al-H

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Kuwaiti papers suspended over 'plot' reports

A judge has suspended two Kuwaiti newspapers for two weeks after they published stories about a recording that discusses an alleged plot to overthrow the Gulf state's ruling system, their editors said on Sunday. Kuwait, a majo

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Bahrain's Ahli United eyes sale or merger: sources

Ahli United Bank (AUB) , Bahrain's largest lender, is evaluating a sale or a merger with a strategic peer in a possible $5 billion deal, several bankers familiar with the situation said. After previous sale attempts to a bank

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Kuwait to award $4.3bn new contract

Kuwait plans to award a 1.2 billion dinar ($4.3 billion) contract later this year for the first phase of a project to produce heavy oil at its northern Ratqa field, the head of state-owned Kuwait Oil Company (KOC) said. The projec

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Chevron breaks ground on Kuwait oil project

Saudi Arabian Chevron along with Kuwait Gulf Oil Company broke ground on their integral oil project at Wafra in Kuwait. With this Main Gathering Center (MGC) Revamp Project, Saudi Arabian Chevron and its partner the Kuwait Gulf Oi

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Burgan seeks bond deal to raise capital

Kuwait's Burgan Bank is said to have hired HSBC, Kamco and NBK Capital for a potential bond deal, according to bankers. It is not clear at this stage if the planned deal will be in US dollars or Kuwaiti dinars, nor whether it

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