#Kuwait

Kuwait’s Zain Group posts $640m full-year profit

The board of directors proposed a cash dividend of 25 fils per share for H2 2022, following a semi-annual dividend of 10 fils earlier last year

Nomo

Digital Islamic bank Nomo launches multi-currency accounts

First available in Kuwait, the multi-currency accounts will soon roll-out in phases to customers across the GCC

Agility opens data centre sites

Kuwait’s Agility launches data centre sites across Middle East and Africa

The company plans to build additional sites in other rapidly growing data centre markets including Nairobi, Casablanca and Lagos

Kuwait's Sheikh Ahmad Nawaf Al-Ahmad Al Sabah reappointed PM

Kuwait’s Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah reappointed PM

Sheikh Ahmed was first appointed as Prime Minister in July 2022

Abraj oil drilling deal

Oman’s Abraj inks oil drilling deal with Chevron, Kuwait Gulf Oil Company

Abraj will construct three drilling platforms in the Wafra oilfield in the southern part of Kuwait as part of the deal

Non-oil foreign trade between UAE, Kuwait grows 87% over a decade

UAE, Kuwait non-oil trade grows 87% over decade

Non-oil foreign trade between the UAE and Kuwait reached Dhs43bn by the end of 2022

UAE, Kuwait link traffic systems

UAE, Kuwait link traffic systems

Officials at the meeting held in Abu Dhabi discussed ways to enhance existing cooperation between the two countries in police and security fields

Kuwait

Kuwait selects Google Cloud for nationwide digital transformation

The strategic alliance will support digitising government services, migrate national data securely to the cloud and set up a national digital skills programme

IMF sees Kuwait's GDP growth at above 8% for 2022

IMF projects Kuwait’s GDP growth above 8% for 2022

The rise in GDP growth in 2022 is supported by increased oil production, high oil prices, and sustained improvement in domestic demand

Kuwait

Kuwait says oil buyers don’t want to boost imports next year

The OPEC member exports about 2 million barrels a day of crude, most of it to Asian countries such as China, South Korea, Japan and India

Kuwait’s Jazeera Airways to launch new route to Turkistan

The new service will commence on December 3, and service demand for religious and cultural tourism

Kuwait

Kuwait posts smaller deficit for last fiscal year on higher oil

The OPEC member recorded the highest non-oil revenue in seven years, up 38.5 per cent to KD2.4bn

Almosafer

Saudi’s Almosafer partners with Visit Oman to boost sultanate’s inbound tourism

Almosafer’s consumer business will run a 360 marketing campaign throughout 2023 to promote Oman to its customer base in Saudi Arabia, Kuwait and the UAE

Kuwait

Kuwait commits to reach carbon neutrality in oil and gas by 2050

Kuwaiti foreign minister Sheikh Salem Abdullah Al-Jaber Al-Sabah said that the country executed many projects to preserve the environment and reduce emissions

Kuwait starts commercial operations at new Al-Zour mega-refinery

Kuwait starts commercial operations at new Al-Zour mega-refinery

Comprising three mini refineries, Al-Zour is the biggest of several oil-processing facilities being added across the Middle East

Wizz air

Wizz Air Abu Dhabi commences first flight to Kuwait

The new route will strengthen connectivity within the GCC

Pret A Manger enters Middle East, opens first shop in Kuwait

Pret A Manger expands in Middle East, opens first shop in Kuwait

Popular UK-based food and coffee chain opens at Al Hamra Tower, in partnership with Kuwait-based franchise group One PM

Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah reappointed as Kuwait’s Prime Minister

The premier has been assigned to nominate members of the new cabinet

agility

Kuwait’s Agility Ventures invests in India’s e-commerce platform Shiprocket

The investment was part of Agility’s strategy to expand across digital logistics and e-commerce in high-growth markets

IMF sees Kuwait's GDP growth at above 8% for 2022

Kuwaiti conglomerate Alghanim Industries weighs $1bn IPO

Deliberations about a potential listing are in the early stages and no final decisions have been made

Low-cost carriers

How regional low-cost carriers are flying high amid travel recovery

The Middle East’s budget carriers are cashing in on the growing trend for affordable luxury and increasing demand

Cover story: Why Kuwaiti entrepreneur Talal Al Ajmi is heavily invested in the future

Founder and CEO of VI Markets, Talal Al Ajmi tells us how investing in technology has been key to his company’s growth

Agility posts Q2 2022 profit

Agility reports KD16.1m net profit for Q2 2022, revenue grows 23.4% to KD138.4m

Agility reported H1 2022 earnings of 11.41 fils per share on a net profit of KD28.8m while revenue increased 22.9 per cent to KD270.5m

Menzies Aviation is now the world's largest aviation services company by number of countries

Kuwait-based Agility completes £763m acquisition of Menzies Aviation

The combined company will operate as Menzies Aviation and will be the world’s largest aviation services company by number of countries and second largest by number of airports served

OPEC Haitham Al Ghais

Haitham Al Ghais takes office as OPEC Secretary General

He was appointed for a three-year term at the special meeting of the OPEC Conference held on January 3

Gulf deals

Cash-rich Gulf funds splurge on mega deals as liquidity dries up

The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year

stc Kuwait reports net profit of KD15m in H1 2022

Kuwait Telecommunications Company reports net profit of KD15m in H1 2022

The telecom company’s total revenue reached KD153.8m in the first half of 2022, with a growth rate of 10.3 per cent compared to KD139.4m in 2021

Kuwait prime minister

Kuwait names Sheikh Ahmed Nawaf as new prime minister

The prime minister is appointed by the ruling family and governments

Wizz Air launches two new routes to Maldives and Kuwait

Wizz Air launches two new routes to Maldives and Kuwait

Fares will start from Dhs99 for Kuwait and Dhs319 for Maldives from October

CNNB Solutions

UAE e-commerce firm CNNB Solutions expands to Kuwait

The company supports brands with their e-commerce and direct-to-consumer strategies, to help them reach more customers