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Tag Archives: Kuwait

Kuwait, Turkey eager to enhance relations

ANKARA: Kuwait and Turkey are eager to pursue more ventures and sign additional agreements to enhance relations on all possible spheres especially within the economic domain, Kuwaiti Minister of Commerce and Industry Khaled Al-Roudhan said late Wednesday. This statement was given to KUNA and Kuwait television after a meeting with Turkish counterpart Nihat Zeybekci held in Ankara. Minister Al-Roudhan, who ... Read More »

Kuwait, Honduras ink economic, technical deal

KUWAIT: Kuwait and Honduras have signed an agreement for promoting and developing bilateral economic and technical cooperation, the Kuwaiti Ministry of Finance said. The agreement was signed by Undersecretary of the Kuwaiti Ministry of Finance Khalifa Hamada and Honduran Ambassador in Kuwait Nelson Garcia, the ministry said in a statement. Kuwait is interested in promoting economic relations with all countries ... Read More »

Kuwait, Bangladesh deepen cooperation

DHAKA: His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah ended a three-day official visit to Bangladesh at the invitation of Prime Minister of the Government of the People’s Republic of Bangladesh, a final statement said. During the visit, His Highness the Prime Minister paid a courtesy call on President of Bangladesh Mohammed Abdul Hamid, where they emphasized the ... Read More »

Exports of Iran’s steel halts to UAE, Kuwait

TEHRAN: Exports of Iran’s steel to the UAE and Kuwait were halted following the escalation of tensions between Iran and Saudi Arabia over the execution of a prominent Shia cleric, an Iranian steel producer said. Reza Shahrestani, a member of the association of Iranian steel producers, said Iran in total exports about three million tons of steel annually and about ... Read More »

Kuwait, UK discuss measures to boost security cooperation

KUWAIT: Lieutenant General Suleiman Al-Fahad, Ministry of Interior’s Undersecretary held a meeting with UK Ambassador Matthew Lodge and some British Embassy’s staff. During the meeting, the two sides discussed a number of subjects of joint interest, including boosting cooperation and coordination and exchanging expertise in the fields of criminal security, airports security support, aviation protection, and personnel training courses, the ... Read More »

Iran invites Kuwaiti investors to participate in tourism projects

IRAN: Iran Cultural Heritage, Handicrafts and Tourism Organization’s Head Saeed Shirkavandhas invited Kuwaiti investors in Iran to bring and develop tourism projects in Iran. He emphasized in a gathering on “Studyin Avenues for Foreign Investments in Tourism Industry”. He said that the Kuwaiti investors are invited to undertake tourism projects in Iran, adding that the number of pilgrims and tourists ... Read More »

Kuwait looking for further growth in port sector

KUWAIT: The Kuwait government is eyeing for its port sector’s growth as this will boost growth at the Gulf state’s ports, both though spending on the infrastructure projects and boosting imports of containerised goods. The dramatic fall in the oil price in the second half of 2014 likely heralds an era of much cheaper oil, which will impact upon Kuwaiti ... Read More »

Rouhani says Saudi, Kuwait will suffer alongside Iran from oil price drop

TEHRAN: Hassan Rouhani, Iranian President said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop. Rouhani said as oil plunged to near six year lows on international markets, those that have planned to decrease the prices against other countries will regret this decision. Oil prices have ... Read More »

Bahrain, Kuwait police foil bid to smuggle marijuana

MANAMA: Bahrain and Kuwait police have foiled an attempt to smuggle half a kilo of marijuana coming from an Asian country to Kuwait through Bahrain in a sting operation. Customs officers screened a parcel transiting from Bahrain to Kuwait and found the plastic-covered drugs hidden inside a cricket bat. A Bahrain anti-drug squad co-operated with Kuwaiti authorities in arresting a ... Read More »

Singapore, GCC launch free trade agreement

SINGAPORE: Singapore and GCC has jointly announced the launch of FTA negotiations, taking Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates in focus. With the entry into force of the agreement, approximately 93.9 percent of all Singaporean goods exported to the GCC qualified for immediate tariff-free concessions, while an additional 2.7 percent of tariff lines will qualify ... Read More »

Pakistanis in Dubai, Oman contribute in growth of remittances during Q2

ISLAMABAD: Overseas Pakistanis living in Dubai and Oman contributed significantly in increasing foreign remittances to the country in the second half of the current fiscal year. “Another source of getting enhanced volume of remittances was the foreign trade,” a source in the Finance Ministry told Customs Today on Saturday. “Remittance growth in first quarter of the current fiscal year came ... Read More »

Remittances soar to $7,398.4m from $6,407.5m in 5 months of FY14-15

KARACHI: The country has witnessed improvement in remittances as the overseas Pakistanis sent $7,398.4 million in first five months of Fiscal Year 2014-15, reflecting the growth of 15.5 per cent as compared to last year’s $6,407.5 million. As per details, during November 2014, the inflow of remittances amounted to $1,320.6 million, which is 4.5pc lower than October 2014 but 16.8pc ... Read More »

2.5m tones of high sulphur gas oil: PSO okays accord with Kuwaiti company

ISLAMABAD: State-run Pakistan State Oil Company finalized term of a contract with Kuwait Petroleum Corporation for the supply of about 2.5 million tonnes a year of high sulphur gas oil. As per details, the PSO finalised a gas oil supply deal for 2015 with Kuwait Petroleum Corporation for the supply of 2.5 million tonnes a year of high sulphur gas ... Read More »

Kuwait, Turkey sign bilateral agreement on border protection, anti-smuggling

ISTANBUL: Pointing out the security agreement signed between the two countries, Kuwait’s Ministry of Interior Undersecretary Lieutenant General Sulaiman Al-Fahad said that Kuwaiti-Turkish security ties are based upon solid fundamentals. Bilateral cooperation in areas such as anti-terrorism and organized crime, anti-drugs, anti-smuggling of cultural works, borders protection, illegal immigration, and illegal exchange of information that might reveal counterfeited, stolen, and ... Read More »

Kuwait, Egypt bilateral trade hits $3.2 billion: Suleiman

KUWAIT: Egyptian Ambassador to Kuwait Abdulkarim Suleiman said The total trade volume amounts to USD 3.2 billion, bilateral trade volume grew to USD 405 million a year, excluding the value of Egypt’s imports of Kuwaiti oil by-products. “The total trade volume suituation signals the strength of the bilateral ties,” he told after inaugurating the Egyptian property exhibition ‘amar ya masr’ ... Read More »

Asian stock markets mixed after US shares hit consecutive records

TOKYO: Asian markets ended mixed after US shares hit fresh records for a 4th straight session, while a weaker yen, and rumours of a delayed sales tax, assisted Japan’s Nikkei extend its recent rally to record a seven-year high. Tokyo gained 2.05 per cent, or 343.58 points, on Tuesday to 17,124.11 – its best finish since October 2007 – while ... Read More »

New World Financial Order

At least 21 countries, Including Pakistan, have signed a memorandum of understanding at Great People’s Hall in Beijing to set up Asian Infrastructure Development Bank with paid up capital of $50 billion. The establishment of the bank indicates China desire to promote investment at the regional level as well as the nature of its competitive relationship with the United States. ... Read More »

Brent oil plunges below $88 per barrel

LONDON: Brent crude oil slid below $88 (R972) a barrel Monday which was its lowest level in almost four years. Oil producing countries and members of OPEC said that they would keep production despite lower prices. The sources said that Saudi Arabia and Kuwait have privately told oil market participants that oil prices between $80 and $90 a barrel are ... Read More »

GCC ports expansion plans fail to bring more business

DUBAI: The investment of multi-billion dollars into the region’s ports and plans for GCC-wide multimodal transportation systems have failed to gather more business to member countries and their ports. The report of Agility Logistics Emerging Markets Index 2014 stated that the GCC (Gulf Co-operation Council) countries, along with Jordan, are trying to consider international locations of favorable conditions for business ... Read More »

Remittances up by 12.61pc in July, Aug 2014

KARACHI: Pakistanis living overseas remitted an amount of $2978.10 million in July and August 2014 of the current fiscal year, showing an impressive growth of 12.61 percent against $2644.53 million received during the corresponding period of last FY14. The inflow of remittances during August 2014 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and ... Read More »