KUWAIT: Kuwait's emir ordered security forces to take all necessary measures to safeguard "public order" after protesters stormed parliament to demand the resignation of the prime minister.
An opposition lawmaker, who took part in the invasion of (...)
KUWAIT: A Kuwaiti court voided Zain's April annual shareholders meeting on Sunday, upholding a case brought by a former board member who opposed the election process but said the decision will not derail sale of Zain's Saudi stake, a company source (...)
KUWAIT: The Kuwait Investment Authority (KIA), the Gulf Arab state's sovereign fund, has launched a company with 1 billion Egyptian pounds ($167.8 million) to invest in Egypt's economy, an official said on Saturday.
"A 1 billion Egyptian pounds (...)
KUWAIT: Kuwait's low-cost carrier Jazeera Airways is expected to start flights to Egypt's capital in May and post a profit this year, the firm's chairman said.
Jazeera Airways, which posted a net loss of 2.8 million dinars ($10.13 million) in (...)
KUWAIT: Kuwaiti mobile operator Zain swung to a small profit in the fourth quarter, according to Reuters calculations, missing analysts' estimates.
Zain, subject to a $12 billion takeover bid from UAE's Etisalat, posted a fourth-quarter net (...)
Kuwait's ruler could move to reshuffle the government or dissolve parliament in the coming days, if opposition lawmakers gather enough support for a non-cooperation motion against the Gulf Arab state's prime minister.
Prime Minister Sheikh Nasser (...)
KUWAIT: Etisalat and major Zain shareholder Kharafi Group signed an agreement on Wednesday to start the due diligence process for a deal to sell 46 percent of Zain to the UAE telecoms operator.
"We were informed by our client that Al Khair (...)
KUWAIT: Bahrain's central bank is concerned about volatility in global currency markets as well as rising food costs, its governor said on Sunday.
Meanwhile Qatar's economy will expand strongly this year, the head of its central bank said.
"I (...)
KUWAIT: The Egyptian unit of Bahrain's Islamic lender Al Baraka plans to issue a sukuk, or Islamic bond, to raise about up to $150 million next year, the chief executive of the group said on Sunday.
"We have not yet finalized (the issue) because (...)
KUWAIT: Kuwait's Gulf Bank expects the third quarter of this year to be a turnaround quarter as it executes a two-year plan to rebuild itself, its chief executive said on Tuesday.
"What everybody expects is that this (third quarter) will be the (...)
KUWAIT: Kuwaiti mobile telephone firm Zain, the Gulf Arab region's third-largest operator by market value, posted a 96 percent rise in third-quarter net profit, boosted by a sharp increase in customer numbers.
"In this new era of focus on our (...)
KUWAIT: Inflationary pressures in Gulf Arab countries have decreased significantly, but they must pay attention to rising global food prices, Kuwait's central bank governor said on Tuesday.
Inflation in the world's top oil exporting region (...)
KUWAIT: Kuwait's Burgan Bank raised $400 million in a 10-year bond sale on Thursday, at a coupon rate of 7.875 percent.
The dollar-denominated bond sale attracted a final book size of $1.5 billion, one source with a lead bank said, signalling the (...)
KUWAIT: Kuwaiti telecom firm Zain said it received $295.4 million from India's Bharti Airtel as part of the sale of its African assets.
In June, Zain and Bharti closed a $9 billion deal for the Kuwaiti firm's African assets excluding Sudan and (...)
KUWAIT: Kuwait's telecoms firm Zain is in talks with Abu Dhabi's Etisalat to sell a majority stake in the group, a Kuwaiti newspaper reported on Sunday.
Both firms held meetings last week to discuss the potential deal, daily Al-Seyassah said in (...)
KUWAIT: Kuwait's consumer prices dipped 0.3 percent month-on-month in February partly on falling food prices in a reversal of course after two months of increases, the Gulf country's data showed on Sunday.
Consumer price growth in the Arab Gulf (...)
KUWAIT: Oil reserves of OPEC member Kuwait have fallen to below 100 billion barrels as daily withdrawals are not being compensated for by an increase in stocks, a newspaper reported on Thursday.
"The probability of boosting reserves through new (...)
KUWAIT: Trading in the shares of Kuwaiti telecoms firm Zain will remain halted until it completes all the preparations for closing a deal to sell African assets, a newspaper reported on Monday.
"The bourse has responded to Zain's request for the (...)
KUWAIT: Kuwaiti mobile operator Zain will distribute a large part of its returns from a $9 billion sale of assets to India's Bharti Airtel to its shareholders, Zain Chairman Assad Al-Banwan said on Thursday.
In March, Zain struck a deal selling (...)
KUWAIT: Net profit at Agility more than halved in the first quarter and the Gulf's biggest logistics provider said future earnings would suffer from legal costs and lost contracts following fraud charges.
The firm, formerly Public Warehousing Co. (...)
KUWAIT: Commercial Bank of Kuwait (CBK) swung into a first quarter loss, after booking provisions against its loan and investment portfolios.
Net loss in the three months to March 31 came in at 1.41 million dinars ($4.86 million), compared with (...)
KUWAIT: Shareholders of Kuwaiti telecoms firm Zain, which is selling most of its African assets to India's Bharti Airtel, have received offers to sell a majority stake in the group, a newspaper reported on Sunday.
Kuwaiti daily Al-Rai, citing (...)
KUWAIT: Core Gulf OPEC members are delivering over 90 percent of the oil supply curbs the organization agreed last year, a Kuwait oil official told state news agency KUNA on Sunday.
Compliance is good, especially in Gulf countries where (...)