Kuwait Restores Support For Gulf Currency In January
Kuwait strongly backs the launch of the Gulf monetary union and single currency on time in January 2010, the undersecretray of the finance ministry said on Monday, a day after the ministry demanded a delay.
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MENA private equity investment levels expected to rise
New private equity investment activity is expected to significantly increase in the MENA region in the coming 12 months, according to the latest MENA Private Equity Confidence Survey released by Deloitte.
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SGC calls for transparency, equal bidding opportunities
Kuwait Investment Authority must sustain transparency and present equal bidding opportunities should it decide to sell its stake in Zain, 24.5 percent of all shares, Securities Group Company (SGC) said.
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Securities Group eyes Zain stake
Kuwait: Ali al-Mousa, Chairman and Managing Director of Kuwait-based Securities Group’s has said that the firm is studying a bid to buy a stake of up to 24.6% stake in telecom firm Zain held by the Kuwait Investment Authority, Reuters has reported. ‘This is a response to the announcement of KIA saying they are considering selling a stake … all we are saying is that we are interested,’ he said. [AMEInfo.com]
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Kuwait’s SAB, SAI Vietnam strike cooperation deal
Kuwait’s State Audit Bureau (SAB) has signed an agreement on cooperation with the State Audit Office of Vietnam (SAI Vietnam) in Islamabad, Pakistan.
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Kuwait’s SAB, SAI Vietnam strike cooperation deal
Kuwait’s State Audit Bureau (SAB) has signed an agreement on cooperation with the State Audit Office of Vietnam (SAI Vietnam) in Islamabad, Pakistan.
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Jazeera rules out second Gulf hub
Kuwait: Stefan Pichler, CEO of Kuwait-based low-cost carrier, Jazeera Airways has ruled out establishing its second hub in a Gulf state, as fierce competition within the GCC has made locations outside the region more favourable, Emirates Business has reported. ‘We are working on a second hub and our plans are pretty advanced. We are in the good position of not having to reveal it now; we can finish our homework and then launch it. We will announce the next hub within the next four to six months,’ he said. [AMEInfo.com]
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KSE loses track, ends in red
The Kuwait Stock Exchange (KSE) ended yesterday’s session in the red, for the second consecutive trading session with losses witnessed in all of the market’s sectors.
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Kuwaiti group may bid for government stake in Zain
Kuwait’s Securities Group said on Sunday it may make a multi-billion dollar offer for a near 25-percent stake held by state-owned Kuwait Investment Authority (KIA) in telecom giant Zain.
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SICO: GCC Economics - The Numbers (11-Oct-09)
Attached is our monthly report “GCC Economics - The Numbers” providing a summary of the key GCC economic statistics reported by respective central banks. The report provides comparable data for all GCC countries so that the reader can compare and contrast the trends. The report also highlights some of the key trends and tries to identify relevant parameters on a regular basis. The report covers the following:
- Broad Money Supply
- GCC Banks’ Asset, Equity, Deposits, Gross and Total Loans Extended
- Banks’ Net Foreign Asset and Central Banks FX Reserves
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ME Oil Exporters’ Foreign Reserves To Rise In 2010
Oil exporters in the Middle East and North Africa region are expected to increase their international reserve positions by over 100 billion dollars in 2010 as oil prices rebound, the IMF said.
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GCC Common Drug Policy paying off well: health minister
All member countries are reaping benefits from the Common Drug Policy put in place by the Gulf Co-operation Council, says Dr Ali bin Mohammed bin Moosa, Minister of Health.
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Kuwait allocates KD1bn for housing
Kuwait: Kuwait’s government has announced the allocation of its largest ever budget of KD1bn to build more residential blocks in seven areas across the country, the Kuwait Times has reported. The budget was unanimously approved by both the Public Authority for Housing and the Parliamentary Housing Committee. Private construction firms will be appointed to build the necessary infrastructure in order expedite the pace of work, officials said. [AMEInfo.com]
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Kuwait’s Electricity minister defends legal status of Sabbiya power plant
Kuwaiti Minister of Electricity and Water Bader Al-Shuraiaan said here Saturday the legal and technical procedures for al-Sabbiya electricity station were safe and sound.
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Americana opens Kuwait restaurant
Kuwait: Americana food stuff group has officially opened its latest international addition in Kuwait, Signor Sassi, Al-Watan Daily has reported. Under an agreement the company had signed with Italian San Carlo international group, Americana plans to open a chain of Signor Sassi restaurants around the Middle East. [AMEInfo.com]
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Global Finance selects NBK amongst the World’s Best Banks 2009
Kuwait: Leading US based Global Finance has selected the National Bank of Kuwait (NBK) amongst the latest list of the World’s Best Banks for 2009 which was announced during the annual meeting of the International Monetary Fund and the World Bank Group recently held in Istanbul. [AMEInfo.com]
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Arab bourses seen affected by 3rd quarter results
Arab stock markets closed week mixed as investors monitored third quarter results of listed firms and the movement of oil prices, financial analysts said Friday.
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