Wednesday, February 19, 2020

KFAED signs agreement, developing 400-kV transmission network in Bahrain

MANAMA - Kuwait Fund for Arab Economic Development (KFAED) signed on Wednesday a KD 29.5 million (USD 100 million) loan agreement with Bahrain to help finance the development of a 400-kilovolt (kV) transmission network.Present...

Kuwait oil minister: $60-$70 is appropriate oil price

DUBAI, Dec 4 (Reuters) - An oil price of $60-$70 a barrel is an appropriate price for producers and consumers, Kuwait’s oil minister Khaled al-Fadhel said on Wednesday in Vienna, according to state news...

Airbus A380 to remain aviation ‘backbone’ despite growing demand for smaller aircraft

Airbus believes a large majority of Middle East aircraft deals in the next 20 years will be for small aircraft, including in the Middle East Bob Lange, senior vice president...

Kuwait Q2 GDP declines 1.2% quarter on quarter

DUBAI, Nov 17 (Reuters) - Kuwait’s gross domestic product fell 1.2% in the second quarter from the previous quarter, the government said in a statement on Sunday. The Gulf state’s GDP totalled 9.7 billion...

Egypt, UAE to set up $20 billion joint investment platform

Egypt is pushing ahead with a sweeping economic programme that was kick-started in 2016 with the devaluation of the currency in order to secure a $12 billion International Monetary Fund (IMF) loan and attract...

Dubai Health, Safety & Environment Forum 2019 set to highlight critical industry issues

The highly acclaimed Dubai Health, Safety & Environment Forum returns to Dubai from 24-25 November, with a stellar line-up of confirmed speakers from Ministry of Health & Prevention, UAE, Dubai Municipality, ADNOC, DEWA, Emirates...

UAE says it has world’s sixth-largest crude oil reserves

DUBAI, United Arab Emirates (AP) — The United Arab Emirates now says it is home to the world's sixth-largest crude oil reserves, surpassing fellow Gulf Arab nation Kuwait. The UAE's Supreme Petroleum Council met on...

Technology company’s co-founders recognised as Future Stars for giving new dimension to regional laundry...

Technology company JustClean has earned top level recognition for its emergence as a dynamic force giving a new dimension to the laundry business in the Gulf region.The Kuwait-based company was honoured at the Arabian...

Kuwait Finance House expects AUB merger approvals within one month -CEO

DUBAI, Oct 8 (Reuters) - Kuwait Finance House (KFH) CEO Mazin al-Nahedh said on Tuesday he expected to get central bank and regulatory approval within one month for KFH’s merger with Bahrain’s Ahli United...

Abu Dhabi 7-month non-oil foreign trade hits $33.10bln

UAE - The value of non-oil foreign trade through Abu Dhabi ports stood at Dh121.5 billion in the first seven months of 2019, according to figures released by the Statistics Centre-Abu Dhabi (SCAD) on...