Finance

Representatives of the Italian businesses society said they are looking forward to boost partnership with Kuwait, to enhance the role of the private sector in economic development and achieve the 2035 vision.In a statement to KUNA on Thursday, Kuwait …

— Ahli United Bank (AUB) announced a KD 23.1 million (about USD 76.2 million) net profits in the first nine months of 2020, a decrease of 48.9 percent from the same period in 2019.In a statement Sunday, the bank affirmed expanding financing activities…

— The Arab Planning Institute (API) said Wednesday it will participate in the 2020 International Virtual Conference on Innovation, Creativity and Entrepreneurship Ecosystem (ICICEE), due to take place on November 19-20.The gathering will be held under…

– The Audit Bureau signed on Wednesday a Memorandum of Understanding (MoU) with the Public Authority for Combating Corruption (Nazaha) to enhance aspects of cooperation between the two sides.In a press statement, Audit Bureau Undersecretary Abdulaziz A…

The US dollar fell to KD 0.305 Thursday while the euro climbed to KD 0.358, compared to Wednesday’s rates.The central Bank said in its daily bulletin the British sterling pound decreased to KD 0.396, but the Swiss Franc increased to KD 0.335 and the Ja…

— Kuwait Direct Investment Promotion Authority (KDIPA) issued their annual fifth report, which included the authority’s achievements, activities and projects performed during the report period of the fiscal year 2019/2020.In a press release on Wednesd…

The Audit Bureau assessed 1,531 ventures worth KD 1.9 billion (USD 3.2 billion) between April 4 and October 31 this year.Up to 93 percent of the projects were presented by ministries and government departments — worth KD 1.7 billion — (USD three bill…

– As part of vigilant monitoring of economic, monetary, and banking developments and forecast trends, Central Bank of Kuwait (CBK) decided on Tuesday to maintain the current Discount Rate at 1.5 percent.Based on its periodic review of movements in inte…

– The Central Bank of Kuwait announced Monday the allocation of bonds and “Tawarruq” with a total value of KD 200 million dinars (equivalent of around USD 660 million).In a statement to KUNA, the bank said that the issuance period is three months with …

– The President of State Audit Bureau (SAB) Faisal Al-Shaya underlined on Tuesday the importance of combating corruption with the utmost integrity and establishing an organization that would limit the spread of corruption.This came during the 17th meet…

The US dollar rose to KD 0.306 Monday while the euro steadied at KD 0.358, compared to Sunday’s rates.The central Bank said in its daily bulletin that the British Sterling Pound stabilized at KD 0.395. Likewise, the Swiss Franc which traded at KD 0.334…

Kuwait’s trade surplus with Japan plunged 54.8 percent from a year earlier to JPY 23.0 billion (USD 218 million) in September, down for the sixth straight month on slumping exports, government data showed Monday.But Kuwait stayed in black ink with Japa…

Boursa Kuwait affirmed on Monday pursuing approach toward strategic goals for revamping the national financial market and promoting investments internationationally, as a prelude to listing in the MSCI index of emerging markets set late November.Nora …

The price of Kuwaiti oil went up by 61 cents to USD 41.79 per barrel (pb) on Friday in contrast with USD 41.18 pb Thursday, said the Kuwait Petroleum Corporation (KPC) Saturday.The price of the Brent crude went down by 49 cents to USD 42.85 per barrel…

Kuwait’s inflation rate in August rose by 2.18 percent on a year-on-year basis, the Central Statistics Bureau (CSB) said on Monday.In its monthly consumer prices index (CPI) report, CSB noted that the monthly rate rose by 0.43 percent in August compare…

A delegation from the Kuwaiti State Audit Bureau (SAB) on Sunday participated in the 21th meeting of the Gulf Cooperation Council Accounting and Auditing Organisation, headed by audit undersecretary Abdulaziz Al-Holy.SAB’s Director General of training…