Kuwait Weekly News - 08 April 2011, Friday

Kuwait in talks with BP, others over China refineryReutersKUWAIT, April 5 (Reuters) - Kuwait is in talks with BP Plc (BP.L) and other major enegy companies over a possible role in its $9 billion refining joint venture with Sinopec (600028.SS) (0386.HK) in China, a Kuwaiti official said on Tuesday. ...See all stories on this topic » Gulf states ask Yemen sides to Riyadh talks: KuwaitReutersABU DHABI (Reuters) - Gulf Arab states have invited Yemeni government and opposition representatives to talks in Saudi Arabia, Kuwait's foreign minister said Monday, in a bid to end the crisis after weeks of anti-government protest. ...See all stories on this topic » Kuwait and Singapore Acquire Slice of TPGWall Street JournalBy GREGORY ZUCKERMAN Private-equity powerhouse TPG Holdings has reached a deal to sell nearly 5% of itself to sovereign-wealth funds operated by Kuwait and Singapore. The deal values the firm at about $11 billion and allows it to raise several hundred ...See all stories on this topic » Kuwait Petroleum Corp CEO Says Oil Price Is Too HighWall Street JournalKUWAIT CITY (Zawya Dow Jones)--The top executive of Kuwait's state-run oil company said Monday he thought the oil price was too high, as political unrest sweeping the Middle East continues to keep crude well into triple figures. ...See all stories on this topic » Veteran PM asked to form new Kuwait cabinetAFPKUWAIT CITY — Kuwait's veteran premier, Sheikh Nasser Mohammed al-Ahmad Al-Sabah, was asked on Tuesday to form his seventh government in five years despite opposition protests, state news agency KUNA announced. Sheikh Nasser, a nephew of the emir who ...See all stories on this topic » Kuwait's Wataniya Airways eyes $54 mln capital raise -paperReutersKUWAIT, April 3 (Reuters) - Kuwait's luxury carrier Wataniya Airways (KNAK.KW), which ceased operations last month, plans to increase capital by 15 million dinars ($54.07 million), unidentified sources said in published remarks on Sunday. ...See all stories on this topic » Kuwait's Agility in $88 mln Q4 loss, misses forecastReutersKUWAIT, April 2 (Reuters) - Kuwait's Agility (AGLT.KW), the logistics firm facing US fraud charges, posted a fourth-quarter net loss of 24.5 million dinars ($88.3 million), missing forecasts. The loss in the three months to Dec 31 compared to a 40.9 ...See all stories on this topic » Iran says policies towards Kuwait "friendly": MPXinhuaTEHRAN, April 3 (Xinhua) -- Head of Iran's Parliament National Security and Foreign Policy Commission Alaeddin Broujerdi said that Iran's policies concerning Kuwait is friendly, the official IRNA news agency reported on Sunday. ...See all stories on this topic » Iran dismisses espionage allegations by KuwaitXinhuaTEHRAN, March 31 (Xinhua) -- An informed source at Iran's Foreign Ministry on Thursday strongly denied "baseless allegations " on identification of an Iranian espionage network in Kuwait, the official IRNA news agency reported. ...See all stories on this topic » Kuwait youths petition against caretaker PMAFPKUWAIT CITY — Kuwaiti youth activists on Saturday began collecting signatures for a petition to the Gulf state ruler against renaming the outgoing prime minister to head a new government, an organiser said. "It is a campaign to collect signatures on a ...See all stories on this topic » Kuwait eyes $1 bln firm to buy Egyptian stocks: paperReuters AfricaKUWAIT (Reuters) - Kuwait Investment Authority (KIA), the Gulf state's sovereign fund, will set up a company with $1 billion in capital to invest in Egypt's stock market, a local newspaper said on Thursday, citing the head of the chamber of commerce. ...See all stories on this topic » KUWAIT, IRAN: Iranian diplomats to be expelled over spy ring row in latest ...Los Angeles TimesKuwait is reportedly ready to boot out a number of Iranian diplomats for alleged links to a spy ring working for Tehran in the latest spat in ties between Sunni Arab Gulf states and Shiite Iran. According to Kuwait's foreign minister Mohammed Sabah, ...See all stories on this topic » RPT-S.Korea GS Construction says wins $557 mln order from KuwaitReutersSEOUL, April 7 (Reuters) - South Korea's GS Engineering & Construction Corp said on Thursday that it had signed a 605 billion won ($557 million) deal to build LPG storage facilities in Kuwait. The company said in a regulatory filing that it signed the ...See all stories on this topic » Kuwait Oil Co: Spending Around KWD1.5B A Year On Capex - ExecWall Street JournalKUWAIT CITY (Zawya Dow Jones)--Kuwait Oil Company, responsible for the Gulf state's oil and gas exploration and production, is spending around 1.5 billion Kuwaiti dinars ($5.41 billion) on new capital expenditure every year, the group's chairman and ...See all stories on this topic » Zain signs term sheet for Saudi unit stake saleReutersKUWAIT, April 7 (Reuters) - Kuwaiti telecoms firm Zain (ZAIN.KW) said on Thursday that it signed a term sheet with Kingdom Holding 4280.SE and Batelco BTEL.BH for the sale of its stake in Zain Saudi 7030.SE. "Zain signed yesterday the term sheet for ...See all stories on this topic » Court rules for review of army deserter's appeal to stay in CanadaVancouver SunDean Walcott, a US army deserter who served in Iraq and Kuwait, has been fighting for the right to remain in Canada. The Federal Court has ruled in favour of US army deserter who was seeking a judicial review of two previous decisions refusing him the ...See all stories on this topic » Kuwait Signs $552 Million Gas Tank Contract With GS EngineeringBloombergBy Dahlia Kholaif - Wed Apr 06 12:44:14 GMT 2011 Kuwait National Petroleum Co. signed a 153 million-dinar ($552 million) contract with Korea's GS Engineering & Construction Corp. (006360) to build 10 storage tanks for butane and propane gases, ...See all stories on this topic » Kuwait cleans up its marketsFinancial TimesBy Robin Wigglesworth Kuwait's stock market may be one of the oldest and largest in the Arab world, but has long been synonymous with rampant market abuses such as insider trading and pump-and-dump trading by powerful merchant investors. ...See all stories on this topic » New Kuwait govt - seventh during era of Sheikh SabahKuwait TimesKUWAIT: The new government, to be formed after conclusion of current consultations by His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah, will be the 28th to be formed since the declaration of independence on June 19, ...See all stories on this topic » Software piracy in Kuwait over 60%, highest in Gulf area, says MicrosoftKuwait TimesKUWAIT: Software piracy in Kuwait is over 60 percent, the highest in the Gulf area, Microsoft-Kuwait said yesterday. "This would immensely and negatively impact the creation of a well-seated information technology industry in the country," Ihab Mustafa ...See all stories on this topic » Kuwait: More allowances for students, teachersZawyaBy Abubakar A. Ibrahim KUWAIT CITY, April 5: Kuwait's government must establish a crisis and disaster center to deal with emergency situations and natural calamities, such as the severe sandstorm that hit the country recently, MP Saad Zunaifeer said ...See all stories on this topic » Kuwait on the brink of recognizing Libyan rebelsInternational Business TimesThe wealthy Persian Gulf oil kingdom Kuwait will officially recognize Libyan rebel groups as the legitimate government of that country within days, according to Kuwait's its foreign minister. "We have already recognized them in a practical sense and ...See all stories on this topic » Kuwait May Choose Consultant in a Month for Railway ProjectBloombergBy Dahlia Kholaif - Mon Apr 04 13:40:04 GMT 2011 Kuwait may choose a consultant in a month to study a rail project in the Persian Gulf nation that may cost as much as $25 billion, a government official said. "A consultant to conduct all feasibility ...See all stories on this topic » Kuwait Energy may put off IPO due to unrestThe NationalJPG KUWAIT CITY // Kuwait Energy, the private oil and gas producer focused on the Middle East and North Africa (Mena), may defer plans for an initial public offering (IPO) of its shares on the London Stock Exchange amid regional political unrest. ...See all stories on this topic » Kuwait- MP calls to cut diplomatic ties with Iran over 'Tabnak' newsMiddle East North Africa Financial NetworkThe Lebanese community in Kuwait recently gathered in their embassy to celebrate Easter under the slogan ‘The Spirit Unites Us’. Eight different Christian groups and many Arab communities participated. (MENAFN - Arab Times) Kuwait's Ministry of ...See all stories on this topic » Kuwait finance minister in DamascusKuwait TimesUpon his arrival, Shimali said that he heads a high-caliber delegation including representatives of the Finance Ministry, Kuwait Fund for Arab Economic Development (KFAED) and Kuwaiti Investment Authority. The two-day gatherings will see the ...See all stories on this topic » Kuwait: Online census form submission date extended to April 11ZawyaBy Hussain Al-Qatari, Staff Writer KUWAIT: The Ministry of Planning's Central Statistical Office (CSO) issued a statement yesterday announcing that the period in which residents can submit their e-census forms is to be extended to April 11, ...See all stories on this topic » Kuwait Central Bank Head Defends Dinar Peg To Currency BasketZawyaBy Leila Hatoum DUBAI (Zawya Dow Jones)--Kuwait's policy of pegging its currency to a basket of currencies has created a stable environment for the exchange rate and has helped avoid inflationary pressures, according to Kuwait Central BankKuwait ...See all stories on this topic » 'Kuwait not safe from political change'Arab TimesKUWAIT CITY, April 6: Kuwait is currently witness to political scenario that requires its citizens to unite and cooperate in all aspects. For this reason, participants at a forum organized by the Women Development Institute on “Ideological Gravitation ...See all stories on this topic » Kuwait market ticks 2.5 pts up amid thin volumeArab TimesKUWAIT CITY, April 5: Kuwait stocks edged marginal higher on Tuesday extending the gains to the second session in a row. The index ticked 2.5 pts up in choppy trade led by select blue chips and speculative gains in some of the mid-caps. ...See all stories on this topic » Kuwait's NDP seen to lessen oil dependenceArab TimesThe IMF wrote in its July 2010 staff report for the Article IV consultation for Kuwait that the country's economic outlook was “broadly positive” but that downside risks included “the inability of the government to meet the development plan's spending ...See all stories on this topic » Ford Kuwait records 50% increase in Q1ZawyaBy Ben Garcia, Staff Writer KUWAIT: The Ford Motor CompanyFord Motor Company's Middle East Sales Executive said that the company has been unaffected by the region's recent political turbulence. Answering questions from Kuwait Times at a press ...See all stories on this topic » Kuwait eyes LNG project Down UnderThe NationalKuwait, which started importing LNG in 2009, is expected to do so until it boosts production from its own gasfields. KUWAIT CITY // The Kuwait Foreign Petroleum Exploration Company (Kufpec) expects D-Day in August for a final investment decision on its ...See all stories on this topic » Kuwait firm buys stake in Moroccan developerTrade ArabiaKuwait-based investment company, North Africa Holding Company (NorAH), said it has acquired a minority stake in Moroccan housing developer Dar Saada Company. A major pan-regional investment firm, NorAH said with this stake buy, it has secured a place ...See all stories on this topic » Life Energy introduces Solyndra to Kuwait at KEWE 2011AME InfoSolyndra's debut will take place at the Kuwait International Fair Ground, Mishref, Kuwait , over the span of 3 days (April 10th - April 12th). Life Energy will present the most recent technology of Solyndra's 200 Series Solar Array. ...See all stories on this topic » Volkswagen Kuwait launches its 'Service Excellence' initiativeAME InfoVolkswagen Kuwait has begun rolling out its new 'Service Excellence' initiative, which aims to deliver customers maximum value for money when buying a new Volkswagen and offering an inclusive 5 year Volkswagen warranty, a 45000km or 3 year free service ...See all stories on this topic » HSBC names new CEO of KuwaitAME InfoSimon Vaughan Johnson has been appointed CEO of HSBC Kuwait, the bank has announced. Simon was most recently head of HSBC's MENA Commercial Banking business, and will relocate to Kuwait to take up the CEO role with immediate effect. ...See all stories on this topic » Doctors in Kuwait make bone health top priorityArab TimesKUWAIT CITY, April 1: Doctors in Kuwait are making bone health a top priority in the treatment of breast cancer to help prevent patients from developing bone tumours and osteoporosis, it was revealed at the Third International Breast Cancer Conference ...See all stories on this topic » Kuwait halts oil exports due to sandstorm, KNPC spokesman saysArabianBusiness.comBy Bloomberg Kuwait, an OPEC oil exporter, halted crude exports due to a sandstorm, said Mohammed Al Ajmi, spokesman of state-run refiner Kuwait National Petroleum Co. “Oil exports are currently halted in Kuwait due to a sandstorm,” Al Ajmi said by ...See all stories on this topic » KHAC to charge KD130 for health plan insuranceKuwait TimesBy Hussain Al-Qatari, Staff Writer KUWAIT: Kuwait's healthcare system will witness big improvements with the introduction of a new health insurance policy, said Mohammad Al-Munifi, the chairman of the Kuwait Health Assurance Company (KHAC), ...See all stories on this topic » Liberia: Govt and Kuwait Signed Three AgreementsAllAfrica.comThe Government of Liberia and the Kuwait Fund for Arab Economic Development have signed three separate agreements aimed at enhancing the country's post-war economic recovery. The agreements were signed on Sunday April 3, 2011 in the Kuwaiti Capital, ...See all stories on this topic » Kuwait's Jazeera cuts order for Airbus planesArabianBusiness.comBy Andy Sambidge Kuwaiti low-cost carrier Jazeera Airways has cut its order of Airbus A320s from 40 to 15, its parent group said on Wednesday. Jazeera Airways Group confirmed the cancellation, although it added that it will still take four A320s from ...See all stories on this topic » Air depression taking toll on KuwaitArab TimesKUWAIT CITY, April 3, (KUNA): The country is affected by an air depression driving through from southwestern of Kuwait in what turned wind to southerly and southeasterly one causing weather disturbance, Director of Weather Forecast Department of the ...See all stories on this topic » Kuwait seeks lower oil priceBusiness Standard (blog)The severe acute respiratory syndrome (Sars) has taken its toll on the grey market for computer hardware with travel to Southeast Asia almost coming to a halt and grounding the route for smuggled goods. According to industry sources, grey markets like ...See all stories on this topic » Junaid for Perfumes participates in Kuwait Perfumes ExhibitionAME InfoRenowned Perfumers Junaid for Perfumes made an impressive impact when they recently participated at the Kuwait International Perfume and Cosmetics Exhibition that took place at the Kuwait international Fair Grounds, Mishref. Junaid for Perfumes stand ...See all stories on this topic » Kuwait residential, investment real estate continue rise in Q4 2010Middle East North Africa Financial Network(MENAFN - Kuwait News Agency (KUNA)) Residential and investment real estate in Kuwait witnessed a siginificant rise in the final quarter of 2010, while commercial real estate continued to suffer as a result of large supply and weak demand, ...See all stories on this topic » Kuwait cabinet resigns to avoid questioningPayvandThe protests there have triggered new tensions in Kuwait between the Sunni majority and the Shiite minority. About 30 percent of Kuwait's 1.15 million people are Shiites, and they have staged a number of demonstrations in support of protesters in ...See all stories on this topic » Hawaii Guard told to prepare for possible deployment to AfghanistanHonolulu Star-AdvertiserIn 2004 the 29th spent a year in Iraq and Kuwait. In its most recent deployment, about 1700 soldiers in the 29th spent 10 months in Kuwait, returning home in August 2009. The 29th logged nearly 2.2 million miles escorting convoys to bases in Iraq, ...See all stories on this topic »