Kuwait Weekly News - 25 Mar 2011

Kuwait plans to boost water output 75 pct in 5 yrsReutersKUWAIT (Reuters) - Kuwait, seen as one of the countries with the least secure water supplies, plans to raise its desalinated water capacity by 75 percent in the next five years, a minister said on Tuesday. Electricity and Water Minister Badr ...See all stories on this topic »
RPT-Lower price for sale sign hangs over Kuwait's ZainReutersBy Matt Smith DUBAI, March 20 (Reuters) - Kuwait's Zain (ZAIN.KW) should remain for sale following Etisalat's failed $12 billion takeover, but buyers will be wary, with nearby Bahrain under martial law and borrowing costs and risk both rising. ...See all stories on this topic »
Kuwait's CBK to finance $1.2 bln power plant projectReutersKUWAIT, March 22 (Reuters) - Commercial Bank of Kuwait (CBK) (CBKK.KW), Kuwait's fourth-largest lender, will part finance $1.2 billion for the second phase expansion of al-Zour South Power plant, the bank said in a statement on Tuesday. ...See all stories on this topic »
Kuwait's Wataniya Airways ceases flight operationsBusinessWeekKuwait's struggling Wataniya Airways says it is halting all flights, citing financial troubles and unrest in the region. The carrier says in a statement posted on its website that it soon plans to call a shareholder meeting to discuss the company's ...See all stories on this topic »
Deyaar, DP World, Kuwait Finance House: Gulf Equity PreviewBloombergKuwait's measure decreased 0.6 percent, while Oman's MSM 30 Index increased 0.1 percent. Saudi Arabia's market is closed for the weekend. Deyaar Development (DEYAAR) PJSC: The property company part-owned by Dubai Islamic Bank PJSC reported a loss of ...See all stories on this topic »
Kuwait fund to start $3.6 billion real estate portfolioPensions & InvestmentsBy Bloomberg Kuwait Investment Authority, the country's sovereign wealth fund, will establish a 1 billion dinar ($3.6 billion) portfolio to invest in Kuwait's real estate market to take advantage of lower property prices. The portfolio, which won't ...See all stories on this topic »
Jordan, Kuwait to Join Qatar as Arab States in Libya EffortNovinite.comEPA/BGNES Kuwait and Jordan will join Qatar as Arab states supporting Operation Odyssey Dawn of an international coalition for enforcing a no-fly zone over Libya mandated by the UN Security Council. Kuwait and Jordan will make "logistical ...See all stories on this topic »
Novinite.com
Kuwait MPs file to quiz minister on alleged graftAfricasiaKuwait has been home to the OCA since it was founded about three decades ago and Sheikh Ahmad has been its chairman for the past two decades. The two MPs also hold Sheikh Ahmad responsible for failure to implement the four-year plan, ...See all stories on this topic »
Africasia
Red Lobster to open soon in Dubai and Kuwait CityOrlando SentinelRed Lobster is coming soon to Dubai and Kuwait City — but don't expect to order a beer. Orlando-based Darden Restaurants this week revealed the initial two of 60 planned restaurants in the Middle East. The first is scheduled to open this summer inside ...See all stories on this topic »
Hotel Missoni Kuwait is Now OpenReutersBy Morgan DeBoer at NileGuide Right after I finish writing this article, I'm going to try to figure out how I can get to the new Missoni Hotel Kuwait which opened for business on March 1st. Maybe it's the bath tub that looks like an egg, ...See all stories on this topic »
Kuwait troops arrive in Bahrain after violent clashesMonsters and Critics.comCairo/Kuwait City - A Kuwaiti navy vessel arrived Monday to Bahrain with a number of ground forces onboard, following violent clashes escalated this month between protesters and security forces. The Kuwaiti newspaper Al-Watan reported the vessel had ...See all stories on this topic »
Kuwait sues Shiite daily over Saudi 'invasion'AfricasiaA Shiite newspaper in Kuwait faces trial for its use of the term "invasion" to report on the Saudi troop deployment in Bahrain to help quell protests, its editor and local media said on Tuesday. "So far we have not received official notification, ...See all stories on this topic »
China, Kuwait celebrate 40th anniversary of diplomatic tiesXinhuaBEIJING, March 22 (Xinhua) -- A reception was held in Beijing on Tuesday to celebrate the 40th anniversary of the establishment of China-Kuwait diplomatic ties. Kuwaiti Ambassador Mohammad Saleh Althuwaikh said the two nations have enjoyed fruitful ...See all stories on this topic »
National Bank of Kuwait holds an Investment Forum for its Thahabi clientsAME InfoNational Bank of Kuwait (NBK), the best bank in the Middle East, held an Investment Forum for its Thahabi clients at Regency Hotel on Tuesday, March 22nd, 2011. The forum was delivered by George Richani, NBK Group Chief Investment Officer, ...See all stories on this topic »
Research and Markets: Kuwait Retail Report Q1 2011Business Wire (press release)The Kuwait Retail Report provides industry professionals and strategists, corporate analysts, retail associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kuwait's retail industry. ...See all stories on this topic »
Jordan Kuwait Bank announces new foreign investor/shareholderAME InfoJordan Kuwait Bank (JOKB. AM) announced that a sum of 4.8 million of its shares (4.8% of capital) owned by a group of local investors were sold on Sunday, March 20th to a foreign investor, Odessey Reinsurance Company, a leading worldwide underwriter of ...See all stories on this topic »
104 'distressed' OFWs return from KuwaitGMANews.TVAt least 104 distressed overseas Filipino workers, many of whom allegedly suffered abuses by their employers, returned home from Kuwait shortly before midnight Thursday. Overseas Workers Welfare Administration (OWWA) head Carmelita Dimzon said 107 were ...See all stories on this topic »
Kuwait University 'certifies' 51 financial market tradersArab TimesKUWAIT CITY, March 23: The College of Business Administration (CBA) at Kuwait University today certified 51 CBA students as Financial Market Traders. This follows intensive training throughout 2010-2011 under the CITI-Financial Market Trading Program ...See all stories on this topic »
Kuwait sends medical aid to BahrainSan Diego Union TribuneKuwait's ambassador, Sheik Azzam Mubarak Al Sabah, said the team is expected to arrive Sunday and includes 53 doctors, 21 ambulances and other vehicles, according to Kuwait's state-run KUNA news agency. Kuwait is not contributing troops to the ...See all stories on this topic »
Kuwait's First Deputy Prime Minister Supports Environmental InitiativePR Newswire (press release)"These initiatives prove Kuwait's comprehensive commitment to the environment," Sheikh Jaber said. "By continuing to implement new environmental programs, we help ensure our children will grow up in a Kuwait that continues to enjoy clean air, ...See all stories on this topic »
Kuwait sends warships, not ground troops, to BahrainWorld TribuneABU DHABI — Kuwait, with a population that is nearly 50 percent Shi'ite, has decided not to send troops to Bahrain to help quell the Shi'ite revolt. Instead, Kuwait has sent a naval force to patrol Bahrain's territorial waters. ...See all stories on this topic »
Kuwait benchmark gains 16.9 pts; banks leadArab TimesKUWAIT CITY, March 22: Kuwait stocks ticked higher on Tuesday, adding to the gains in the previous session. The index climbed 16.9 points in moderately volatile trade led by banks and select heavyweights. The market mood was cautiously positive even as ...See all stories on this topic »
Kuwait bourse faces selling pressureZawyaKUWAIT: The Kuwaiti bourse witnessed a high-level of selling pressure on the second trading day of the week following the escalation of tension in other GCC countries. Fear from additional drop in the regional stock markets prompted investors to cash ...See all stories on this topic »
Destination Style: Hotel Missoni Kuwait OpensBlackBook MagazineKuwait might not be a global fashion capital, but a Maserati limo ride to this Arab nation's newest high fashion hotel sure helps you pretend it is. Missoni, the Italian house known for its unmistakably vivid luxury fashion and decor, opened Hotel ...See all stories on this topic »
'Kuwait WikiLeaks' launched with 8 documentsKuwait TimesKUWAIT: The head of the Kuwaiti environmental pressure group Green Line on Monday announced the launch of the 'Kuwait WikiLeaks' website, with eight official documents being the first to be posted there. Speaking at a press conference held to announce ...See all stories on this topic »
Kuwait Wikileaks makes public 1st secret docusArab TimesKUWAIT CITY, March 21: Kuwait Wikileaks was officially launched on Monday with the publishing of the whistleblower website's first group of classified documents pertaining to the State of Kuwait. The eight documents published on the site include ...See all stories on this topic »
Kuwait's Wataniya Airways loses USD50.85m in 2010Middle East North Africa Financial Network(MENAFN) Kuwait-based Wataniya Airways, reported that losses increased strongly in 2010, in an nnouncement that came shortly after the company halted all operations because of financial struggling as well as the political unrest in the Arab world, ...See all stories on this topic »
Yemen's 'envoy' to Kuwait voices support for revolutionArab TimesKUWAIT CITY, March 21: The Yemeni Ambassador to Kuwait Dr Khalid Rajeh Sheikh has voiced his support for the youths staging 'revolution' in Yemen and their demand to allow them exercise their legal rights, such as holding peaceful demonstrations and ...See all stories on this topic »
Kuwait Times Muna Alfuzai columnistockAnalyst.com (press release)If only the heads of all the regional banks in Kuwait would sit around a discussion table and share their vision, as seen by their nations' leaders and not only the national directors, who are ultimately employees who need to act according to bank ...See all stories on this topic »
Sinopec, KNPC Accept Hart Energy AwardsPR Newswire (press release)Sinopec won its Hart Energy award for leadership in refining as the International Refining Company of the Year, and Kuwait National Petroleum Company (KNPC) received its Hart Energy award for excellence in global energy, recognized as the International ...See all stories on this topic »
Iraqi speaker's visit to Kuwait signals new era in relationsArab TimesKUWAIT CITY, March 19, (KUNA): Visiting Iraq Parliament Speaker Osama Al-Nujeifi said Saturday that his visit to Kuwait signals the start of a new era of close and steadily growing bilateral relations. In press statements, upon his arrival and his ...See all stories on this topic »
Kuwait may mediate to end Bahraini crisisKuwait TimesKUWAIT: Kuwait may adopt a mediatory role in an attempt to end the growing rift between the government and the opposition in Bahrain, as soon as the security situation in the strife-torn Kingdom improves. A news report quoting senior official ...See all stories on this topic »
Kuwait opposition lawmakers seek to question senior officialThe Canadian PressKUWAIT CITY — Opposition lawmakers are seeking to question a senior government official over alleged misuse of public funds in housing deals and other projects. Tuesday's formal request to question deputy prime minister for economic affairs, ...See all stories on this topic »
Millville welcomes home wife, mother from KuwaitVineland Daily JournalUS Air Force Senior Airman Michele DelVecchio of Millville, who served in Kuwait, has her cap removed by her 15-month-old son, Logan, as her husband, Derek, looks on during a Welcome Home Ceremony held on the front steps of the Millville Municipal ...See all stories on this topic »
Viva signs agreement with Kuwait TeleCardAME InfoViva, Kuwait Telecom Co. signed a cooperation agreement with Kuwait TeleCard. The agreement was signed by Salman Al-Badran Chief Executive Officer (CEO), of Viva and Lina Al-Harbi, CEO of Kuwait TeleCard. Al-Badran expressed his happiness for signing ...See all stories on this topic »
MEW predicts no summer outages with opening of new plantKuwait TimesBy Nawara Fattahova, Staff Writer KUWAIT: This summer won't be plagued by electricity shortages. "Although we expect the increase of power consumption to be about 9 percent compared to last year there won't be a shortage," said Dr Mishan Al-Otaibi, ...See all stories on this topic »
Zain Kuwait launches Hybrid service for corporate customersAME InfoZain Kuwait, the country's leading network operator, has launched 'Hybird', a service for corporate customers that controls staff invoices and gives them total control of expenses on postpaid lines with prepaid flexibility. Omar Al-Omar, Zain Kuwait's ...See all stories on this topic »
Mutual respect foundation of Kuwait-China relationsKuwait TimesKUWAIT: Mutual respect and shared interests are the foundation of the positive relations between Kuwait and China, said Foreign Ministry Undersecretary Khaled Suleiman Al-Jarallah yesterday. The senior official was speaking on the occasion of a formal ...See all stories on this topic »
This time, keep promise to rebelsBoston GlobeKuwait, brutally occupied by Iraq in August 1990, had been freed by a massive US-led coalition. Saddam Hussein's forces had been routed, and the hated tyrant had suffered a humiliating defeat. Though the United States had gone to war to liberate the ...See all stories on this topic »
"Arabian Gulf" and Other FairytalesHudson New Yorkby Franck Salameh A recent Kuwait Times news-story announced a $4.5m gift to George Washington University's Institute for Middle East Studies, courtesy of the Government of Kuwait. On the face of it this piece of news is less than newsworthy; ...See all stories on this topic »
CBK posts KD 40.5 mln net profitArab TimesKUWAIT CITY, March 23: The Commercial Bank of Kuwait (CBK) on Wednesday held its annual general assembly meeting, in which Chairman Bader Sulaiman Al-Ahmed presented a summary of the bank's most significant achievements in 2010. According to Al-Ahmed, ...See all stories on this topic »
Arab Times
Public Authority for Industry, Kuwait implements Microsoft SharePoint 2010Zawya (press release)Kuwait, March 20, 2011 - Microsoft GulfMicrosoft Gulf today announced that the Public Authority for IndustryPublic Authority for Industry (PAIPAI) in Kuwait has implemented Microsoft® SharePoint® 2010, the business collaboration platform for the ...See all stories on this topic »
Zawya (press release)
Kuwait: Indian Strikers in Semis; Maroons v/s NYC on FridayMangalorean.comBy Gasper Crasto Kuwait, Mar 23: The pulse of Indian football in Kuwait will be racing, strong and vibrant as ever - maybe stronger, as hosts and defending champions Navelim Youth Centre face their arch rivals Goa Maroons in the quarter final of the ...See all stories on this topic »
Mangalorean.com
Mangalore: Tulukoota Kuwait donates Dialysis Unit to SCS HospitalMangalorean.comBy Team Mangalorean Mangalore, Mar 24: The SCS Hospital along with members of Tulukoota Kuwait held a Press Meet on March 24th 2011 at the hospital premises. Addressing the media, Vice President of SCS hospital Ramesh Kediyur said that the SCS Hospital ...See all stories on this topic »
Mangalorean.com
Emergency certificates issued to 3000 Lankans in KuwaitNation on SundayAround 5000 Sri Lankans in Kuwait had applied for Emergency Certificates (EC) from the Sri Lankan Embassy in the country. An official at the External Affairs Ministry said ECs had been provided to 3000 Sri Lankans so far. The Kuwait government had ...See all stories on this topic »
Call for more trade between Kuwait, RussiaKuwait TimesKUWAIT: The size of bilateral trade between Kuwait and Russia, estimated at $85 million does not reflect the two countries' aspirations for a broader trade partnership, a visiting Russian lawmaker said here yesterday. The chairman of the economic ...See all stories on this topic »
Kuwait's Global narrows losses, pays $178m of debtsArabianBusiness.comBy Reuters Kuwait's Global Investment House narrowed its fourth-quarter net loss by almost 40 percent to KD27m ($97.4m), Reuters calculated, as the firm cut operating and interest costs in 2010. Global, one of Kuwait's biggest investment firms, ...See all stories on this topic »
ArabianBusiness.com
Kuwait eyes 75% increase in power and water supplyConstruction Week Onlineby CW Staff on Mar 23, 2011 Kuwait, named as one of the countries with the least secure water supplies in the world, plans to raise its desalinated water capacity by 75% in the next five years, a minister said on Tuesday. Electricity and Water Minister ...See all stories on this topic »
Obsessed with titlesKuwait TimesAlso, Sheikh Jaber, the 13th ruler of Kuwait, when he first took reign in 1978 he abolished the title Al-Muathan (in translation: The Greatest). They called him Sahib Al-Sumou (His Highness). I could not find a proper and exact translation for the ...See all stories on this topic »
Soldier mom deploys to Middle East in 'role reversal' for familyOcalaMaster Sgt. Amy Lugo who will be leaving for Kuwait on March 23, holds one of the cakes that was made in her honor Saturday March 19, during the surprise send-off party friends and family held for her at the VFW Post in Ocala. ...See all stories on this topic »