Kuwait Weekly News - 18 Mar 2011

Kuwait says navy heading to Bahrain soon: ambassadorReutersKUWAIT (Reuters) - Kuwait's navy plans to head to Bahrain soon to protect the Gulf Arab island nation's waters, Kuwait's ambassador to Bahrain was quoted as saying on Thursday. On Monday, Bahrain asked for support under a Gulf defense pact after weeks ...See all stories on this topic »
UPDATE 1-Prince Alwaleed mulls Kuwait's Zain buy - paperReutersBy Asma Alsharif and Eman Goma JEDDAH/KUWAIT, March 13 (Reuters) - The board of Zain (ZAIN.KW) approved on Sunday an offer worth a total $5 billion including debt by Kingdom 4280.SE and Bahrain Telecom BTEL.BH (Batelco) for the Kuwaiti telco's Saudi ...See all stories on this topic »
KBR Managers Got Kickbacks From Subcontractor in Iraq, Kuwait, US SaysBloombergBy Tom Schoenberg - Wed Mar 16 22:46:19 GMT 2011 KBR Inc. (KBR) managers in Iraq and Kuwait took $45000 in kickbacks from a dining facility subcontractor from late 2002 through 2003, the US said in a lawsuit. Terry Hall, who was KBR's regional food ...See all stories on this topic »
China Approves $9 Billion Sinopec, Kuwait Guangdong RefineryBloomberg(600028) and Kuwait Petroleum Corp.'s $9 billion refinery development in the southern province of Guangdong. The companies will build a refinery with the capacity to process 15 million tons a year, or 300000 barrels a day, and a 1 million ton-a-year ...See all stories on this topic »
CORRECTED - UPDATE 1-Kuwaiti Wataniya Air halts operations, cites financesReutersKUWAIT, March 16 (Reuters) - Kuwaiti luxury carrier Wataniya Airways (KNAK.KW) said on Wednesday it was stopping its operations due to its financial situation and regional unrest. "Given the current financial situation of the company ..., as well as ...See all stories on this topic »
Ill. guard soldier in Kuwait gets citizenshipChicago TribuneThe guard says Spc. Chinonso Nwosu of Chicago became a citizen in a ceremony last month at a base in Kuwait. Nwosu is from Nigeria but moved to the United States in 2004. He came to Chicago to study at Northeastern University.See all stories on this topic »
Kuwait benchmark dives 73.4 pts; Zain weighsArab TimesKUWAIT CITY, March 16: Kuwait stocks pulled lower on Wednesday, extending the decline from the previous session. The index slid 73.4 points amid mounting concerns over Bahrain unrest. Blue chips led the day's slide and some of the mid-caps too buckled ...See all stories on this topic »
Arab Times
Kuwait to pick partner for China refinery this year-paperReutersKUWAIT, March 13 (Reuters) - Kuwait Petroleum International (KPI) is expected to choose a foreign partner within six months for a $9 billion oil refining and petrochemical joint venture with Sinopec, the company's chairman said in published remarks on ...See all stories on this topic »
105 repatriated OFWs from Kuwait to arrive in Manila ThursdayGMANews.TVA total of 105 overseas Filipino workers (OFWs) from Kuwait granted amnesty by the Amir – the Middle East country's head of state – are due to arrive in Manila late Thursday. In a release, Vice President Jejomar Binay, who is also the presidential ...See all stories on this topic »
Police uses tear gas to disperse rally in KuwaitTehran TimesKUWAIT (Xinhua) - Kuwaiti police on Friday used tear gas to disperse a rally staged by stateless Arabs in a remote area. Around 200 Bedouins, or stateless Arabs, demonstrated following the morning pray near a mosque in Jahra, around 40 km northwest of ...See all stories on this topic »
5% of Kuwait professionals highly satisfied with salaryZawyaKUWAIT: Salary satisfaction across the Middle East is looking stable with just 3% of residents stating they are highly satisfied with their remuneration, 52% saying they are averagely satisfied and 45% stating they have low satisfaction, according to a ...See all stories on this topic »
Kuwait will not send forces to Bahrain — paperArab NewsBy REUTERS KUWAIT: Kuwait will not send forces to Bahrain to help put down anti-government demonstrations but may try to mediate, an Arabic newspaper reported on Thursday. On Monday, Bahrain asked for support under a Gulf defense pact after weeks of ...See all stories on this topic »
Kuwait's Capital Market Bylaws Published, Now in EffectBloombergBy Fiona MacDonald - Tue Mar 15 11:12:14 GMT 2011 The bylaws for Kuwait's Capital Markets Law were published March 13 in the weekly official Gazette and are now in effect, according a statement on the Kuwait Stock Exchange website today. ...See all stories on this topic »
Destination Maternity opens 10th Middle East store in KuwaitBizjournals.comMaternity-wear retailer Destination Maternity Corp. will open its fourth store in Kuwait, it said Wednesday. The Destination Maternity store is planned in the Discovery Center in the Jassem Tower Murqab area in Kuwait City, the nation's capital. ...See all stories on this topic »
US troops who have died in Iraq and KuwaitWashington PostBy AP AP Shawn Evans' first shot at high school, at Richland Northeast, was a bit rough, one of his school counselors said. He could have fallen through the cracks and never received a diploma. But he switched schools and kept pushing. ...See all stories on this topic »
Saudi Prince Alwaleed mulls Kuwait's Zain buy: reportChicago TribuneKUWAIT (Reuters) - Saudi billionaire Prince Alwaleed bin Talal is considering to buy a controlling stake in Kuwaiti telecom firm Zain at a price of 1.7 dinars ($6.12) per share, a newspaper reported on Sunday. "Saudi businessman Alwaleed bin Talal is ...See all stories on this topic »
Kuwaiti bourse halts trading in Agility sharesReutersKUWAIT, March 14 (Reuters) - Kuwaiti bourse halted trading in logistics firm Agility (AGLT.KW) shares on Monday, pending an announcement. Earlier on Monday, France Telecom (FTE.PA) and Agility are to acquire a 44 percent stake in Iraqi mobile operator ...See all stories on this topic »
Kuwait- Banking sector performance satisfactoryMiddle East North Africa Financial Network(MENAFN - Arab Times) The banking sector's performance in Kuwait is very satisfactory and the current interest rates in Kuwait are very suitable, said Kuwait's central bank governor, Sheikh Salem Abdul-Aziz Al-Sabah, on Sunday. ...See all stories on this topic »
Kuwait index slides 82.6 pts on regional fearsArab TimesKUWAIT CITY, March 15: Kuwait stocks retreated sharply on Tuesday nixing the five-day advance as investors fretted over the regional developments. The index dived 82.6 points in broad decline led by blue chips and some of the mid-caps. ...See all stories on this topic »
Kuwait's First Deputy Prime Minister and Minister of Defence Lauds Media EffortsPR Newswire (press release)The delegation represented Kuwait in the midst of three landmark anniversaries -- the 50th anniversary of its independence, the 20th anniversary of its liberation from Iraq and the 5th anniversary of the Kuwaiti Amir's assumption of power. ...See all stories on this topic »
Soul and Spice Indian Restaurant to open in Courtyard by Marriott KuwaitAME InfoThe Courtyard by Marriott Hotel Kuwait is set to launch Soul & Spice, a modern Indian restaurant that offers diners a unique and exclusive dining journey with Indian food that is presented in a new modern twist. The restaurant which is set to open on ...See all stories on this topic »
Kuwait bourse gains 10.5 pts amid volatile tradeArab TimesKUWAIT CITY, March 14: Kuwait stocks edged higher on Monday, extending the gains to the sixth day in row. The index rose 10.5 points in volatile trade led by select mid-caps even as most of the blue chips retreated amid moderate profit booking. ...See all stories on this topic »
Kuwait: Multi-billion strategy to bolster health care facilitiesGlobal Arab Network - English NewsKuwait is no different in this regard. The country has relatively strong basic health care indicators, but there is increasing pressure on its facilities. The country currently has 19 hospital beds per 10000 people, compared to 22 in Saudi Arabia, ...See all stories on this topic »
Global Arab Network - English News
KIB posts 303 pct increase in 2010 net profitArab TimesKUWAIT CITY, March 13: Kuwait International Bank (KIB) posted of 16.75 million Kuwait dinars for 2010, a 303 percent increase compared to the KD 8.2 million loss in 2009, its chairman said on Saturday. KIB announced their 2011 financial results at ...See all stories on this topic »
Kuwait Styrene realizes $81m net profit in 2010AME InfoThe Kuwait Styrene Company (TKSC) announced a net profit of $81m for the fiscal year ending December 31, 2010. From left to right Al-Habib and Al-Munifi. Following TKSC's board meeting to ratify financial results, its Board Chairman Ahmad Abdullah ...See all stories on this topic »
Qatar, Kuwait lead banks' robust growth in MideastGulf TimesBy Santhosh V Perumal Qatar and Kuwait led from the forefront as Middle East banks reported robust growth in total shareholders' return (TSR). TSR rose to 15.2% in 2010 against 3.6% in the previous year, according to the Boston Consulting Group (BCG), ...See all stories on this topic »
Nigeria: Vote Jonathan to Avert Iraq/Kuwait Situation - Northern GroupAllAfrica.com... his vice presidential candidate, in order to promote national unity and avert what happened in the Middle East some years ago when oil rich Kuwait separated from Iraq because its people were not allowed to play key roles in government. ...See all stories on this topic »
Kuwait: Indian Public School reign supreme in KIFF Inter-school tournamentMangalorean.comBy Gasper Crasto, Team Mangalorean Kuwait, Mar 13: Indian Public School 'A', Salmiya won the KIFF Trophy inter-schools 7-aside football tournament beating Al Amal School in the tie-breaker 5-4 (1-1). The tournament was organized by Kuwait Indian ...See all stories on this topic »
Mangalorean.com
Kuwait- Burgan Bank posts KD 6.2 mln net profit in 2010; provisions up 157%Middle East North Africa Financial NetworkThe Bank also has to its credit the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award, twelve years in succession. Burgan Bank won the prestigious "Banking Web Awards" prize in the commercial and ...See all stories on this topic »
Kuwait Finance House to elect new chairmanEmirates 24/7Kuwait Finance House (KFH), the second-largest Gulf Islamic lender, will elect a new chairman Tuesday after the resignation of Bader al-Mukhaizeem from the role, a local newspaper said on Tuesday. Arabic paper al-Qabas said KFH's board is expected to ...See all stories on this topic »
Hail First Pharma Hires Investor Relations Firm DGR Advisors LLCMarketwire (press release)KUWAIT CITY, KUWAIT--(Marketwire - March 16, 2011) - Hail First Pharma Inc. announced today the hiring of Long Island based DGR Advisors LLC as its investor relations firm. DGR Advisors LLC will immediately take on the responsibility of all incoming ...See all stories on this topic »
Kuwait group aims to raise funds for Libyan oppositionThe NationalKUWAIT CITY // A Kuwaiti group with ties to the Muslim Brotherhood is trying to overcome government controls to raise money for Libya's opposition, a leading figure in the movement has said. "We are waiting for the government to tell us we can collect ...See all stories on this topic »
Kuwait trade set to riseCalcutta TelegraphCalcutta, March 14: Bilateral trade between India and Kuwait is set to increase to $12 billion by the end of 2011. At present, the two-way trade stands at $10.5 billion annually of which crude oil export from the oil-rich Gulf country is $9 billion. ...See all stories on this topic »
Calcutta Telegraph
Humbled De La Hoya Returns Home from USO Tour in Kuwait & IraqPro Boxing FansOlympic Gold Medalist and former Ten-Time World Champion in six weight divisions who turned USO veteran, Oscar de la Hoya touched down stateside today following a whirlwind seven-day USO/Armed Forces Entertainment tour to Kuwait and Iraq. ...See all stories on this topic »
Pro Boxing Fans
Al-Attiyah makes up for Mexico woe with Kuwait winmaxrallyBy Richard Rodgers Nasser Al-Attiyah made up for the disappointment of being stripped of his Super 2000 World Rally Championship victory in Mexico last week by claiming his 40th Middle East championship success in Kuwait. ...See all stories on this topic »
Kuwait raises $3million to fund charity groupKuwait TimesWASHINGTON: Kuwait's Ambassador to the US Sheikh Salem Al-Sabah and his wife Sheikha Rima Al-Sabah, with the cooperation of Kuwait-America Foundation held, with the participation of former US President Bill Clinton, a gala dinner entitled 'Enduring ...See all stories on this topic »
Days of Armenian culture to be held in KuwaitInformation-Analytic Agency NEWS.amThe Days of Armenian culture are held under an Armenian-Kuwaiti cooperation agreement signed during Armenian President Serzh Sargsyan's visit to Kuwait, November 2009. An Armenian-Kuwaiti intergovernmental cultural cooperation program for 2011-2013 is ...See all stories on this topic »
Information-Analytic Agency NEWS.am
Six months of Work in Kuwait, want to transfer to other companyArab TimesI came to 'Kuwait' six months ago on a work visa. My problem is I want to change my job because I am getting a good offer from other companies and my current company also wants to give me a release. I am not a graduate. Is it possible for me to change ...See all stories on this topic »
Kuwait's Baraka to invest in mobile hub in MalaysiaMalaysia Star (blog)By LEE KIAN SEONG KUALA LUMPUR: Baraka Telecom Sdn Bhd, a unit of Reach Telecom Holding KSCC of Kuwait, will invest RM50mil to set up a mobile virtual network enabler (MVNE) hub here. The MVNE will be launched on March 17 to offer services to mobile ...See all stories on this topic »
Kuwait Sports Club 1-0 Al TalabaThe Official Home of Asian FootballKuwait City: Kuwait Sports Club continued to show they will be one of the teams to beat in this year's AFC Cup as Walied Ali Jumah's goal early in the second-half saw them overcome a spirited Al Talaba side 1-0 at Kuwait Sports Club Stadium. ...See all stories on this topic »
Dean of College of Business Administration praises Kuwait Finance House's ...AME InfoThe Dean of College of Business Administration Dr. Rashed Al-Ajmi praised the efforts exerted by Kuwait Finance House (KFH) in the field of human development and the recruitment of Kuwaitis, which grants them an opportunity to prove their competency in ...See all stories on this topic »
Kuwait- Bloc preps grilling motion against PM over Zain dealMiddle East North Africa Financial NetworkThe controversial deal, which was in process since late 2010, surrounds a $12 billion takeover of Zain by the UAE's Etisalat and bids to sell Kuwait's shares in Zain Telecommunications Company in the Kingdom of Saudi Arabia. Al-Saadoun further added ...See all stories on this topic »
Exclusive platform for the senior expats in Kuwait begunTimes of IndiaGolden Era club, exclusive gathering of senior expatriates in Kuwait formed to provide memorable time for the grand pa's and grand ma's! A group of seniors, most of them are above 60 years of age gathered at Rumaithiya to form an exclusive Golden Era ...See all stories on this topic »
Kuwait: Space Hero Astronaut Jose Hernandez visits ICSKMangalorean.comBy Mohammed Farooq Razak Kuwait, Mar 16: It was a celestial feast for the lucky students of the Indian Community School Kuwait (ICSK) and the participants from other Indian schools in Kuwait as they enjoyed the rare privilege of meeting in person, ...See all stories on this topic »
Mangalorean.com
Implement decision granting Bedouns their rights: Kuwait CabinetZawyaKUWAIT CITY, March 16: The Cabinet on Monday instructed the concerned ministries to implement the decision of the executive and legislative authorities on granting Bedouns their rights, particularly the right to obtain official documents, ...See all stories on this topic »
Kuwait: Indian Football Federation to hold IFFK 2nd phase league matchesMangalorean.comKuwait, Mar 16: Indian Football Federation Kuwait proudly announces the commencement of the Second Phase of the IFFK league for the prestigious IFFK Rolling Trophy. Nine high powered Indian Expatriate teams are participating in the league which ...See all stories on this topic »
Georgia Troops Leave for KuwaitMyFox AtlantaThe Army Reservists left Georgia to head to Kuwait. There was an emotional ceremony Thursday morning at Fort Gillem. There were hugs and tears as dozens of Army soldiers prepared to say goodbye to their loved ones. The 3rd Medical Command, ...See all stories on this topic »
MyFox Atlanta
Soldiers find time to stay connectedThe Union LeaderBy SHAWNE K. WICKHAM Camp Arifjan, KUWAIT – Albert St. Aubin of Merrimack has been reading the first Harry Potter book to his son, Jonah. Jonah is only 14 months old, but that doesn't matter to St. Aubin. "I just love reading to him," he said. ...See all stories on this topic »
East West Petroleum Plans to Treble Production in EgyptBenzingaManagement would like to emphasize that speaking with their partner, Kuwait Energy that they have been informed that operations in Egypt have not been affected and there has been no impact on production from BEA; though there have been some operational ...See all stories on this topic »
Saudi Arabian shares climb as oil rise outweighs Bahrain unrestArabianBusiness.comBahrain suspended trading and Kuwait's gauge fell. Saudi Basic Industries Corp., the world's biggest petrochemicals maker, climbed 2.4 percent. In Dubai, Emirates Integrated Telecommunications Co., the phone company known as Du, rose after it was rated ...See all stories on this topic »