Business
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Easing foreign ownership rules to turbocharge Kuwait’s financial strength
In 2023, Kuwait surged 26 places on the Global Financial Centers Index compared to 2022, showcasing significant improvement as its…
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BlackRock explores cooperation with Kuwait Investment Authority
Kuwait Investment Authority owns the sixth-largest sovereign fund globally and the third-largest in the Arab world BlackRock, the largest asset…
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Nuwaiseeb Free Zone targets 500 local and foreign companies
The Nuwaiseeb Free Zone project comprises the establishment of 50 factories for light and manufacturing industries. The project will feature…
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Filipino workers’ Gulf remittances up 4.46% to $435.89 million in January
Remittances from the Gulf Cooperation Council countries constituted 15.37% of the total remittances from Filipino workers globally in January 2023,…
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Kuwait banks boost non-resident credit to 4.17 billion dinars by January-end
Deposits from non-residents in Kuwaiti banks amounted to approximately 9.1 billion dinars by the end of January 2024 Foreign bank…
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Kuwait to install 3 new internet cables to bolster connectivity
The capacity of the three land cables is about 3,830 gigabits per second, including the total capacity of the Saudi…
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Gulf region stands out as premier destination for foreign workers
The number of foreigners in the Gulf region has exceeded 281 million, representing approximately 3.6% of the world’s population. Many…
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Kuwait Petroleum International’s Italian branch acquires 50% stake in Ecofox
The Ecofox agreement boosts Kuwait Petroleum International’s competitiveness in Italian markets, affirming its commitment to fortify the company’s brand in…
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Kuwait’s trade skyrockets to 37 billion dinars with global partners
Kuwait’s non-oil exports were valued at around 1.1 billion dinars, mainly comprising re-exported products valued at approximately 350 million dinars.…
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Kuwait sees 3.34 billion dinars in depositor transfers for January
Deposits with interest rates of up to 2% saw the largest decline in their balances, amounting to 2.7 billion dinars…
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