Thursday 28 April 2016
 
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Kuwait

Lacoste launches new store at Kuwait’s 360 Mall

360 Mall, Kuwait’s iconic shopping mall owned by Tamdeen Shopping Centers, has launched the new Lacoste concept store. Brought by Habchi & Chalhoub, the store covers 201.93 sq m of retail space, and provides menswear, wo

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Citi drops out of $1.5bn financing of Americana sale

Citigroup has dropped out of the group of banks providing a $1.5 billion bridge loan to Gulf-based Adeptio for its proposed purchase of a majority stake in Kuwait Food Company (Americana), three sources aware of the matter said. T

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KNPC signs $4bn loan for Clean Fuels Project

State-owned refiner Kuwait National Petroleum Company (KNPC) signed on Thursday the first tranche of financing for its multi-billion-dollar Clean Fuels Project, a major plank of the country's economic development plan. The tra

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As glut persists, Saudis and Kuwait struggle to restart Khafji oilfield

Kuwait and Saudi Arabia appear no closer to restarting their jointly operated Khafji oilfield, industry sources said, despite Kuwait saying the sides had agreed to ramp up output after an 18-month shutdown.   Any

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Kuwait to hike power tariff for expats

Kuwait's National Assembly has passed a law allowing the government to increase electricity and water charges for expatriates. The law completely excludes Kuwaiti citizens. The new charges will not take effect b

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Etihad Cargo expands Mideast network

Etihad Cargo, the freight division of the national carrier Etihad Airways, has expanded its Middle East network to Kuwait by adding an additional freighter and introduced a new twice weekly service into Muscat in Oman. The twice w

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Boursa Kuwait starts managing KSE

Boursa Kuwait has officially assumed responsibility for the management of the Kuwait Stock Exchange’s (KSE) operations, it announced today. The hand-over follows the implementation of a detailed operational plan and strategic road

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Zain Group posts $124m Q1 net profit

Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, registered a net profit of KD37 million ($124m) in first quarter this year, reported the Gulf Daily News, our sister publication.

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Americana chairman positive over stake sale

Kuwait Food Co (Americana) has edged closer to completing the sale of a controlling stake to a Dubai-based investment firm, the chairman of the consumer foods firm told reporters on Sunday. Adeptio, the investment firm, has not ex

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National Industries Group gets approval for bond

Kuwait's National Industries Group (NIG) said on Tuesday it had received regulatory approval to raise KD25 million ($82.9 million) through a bond sale. The transaction will have a lifespan of five years and pay a floating rate

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