Jazeera Airways has launched direct flights between Kuwait and Addis Ababa, marking the Kuwaiti low-cost carrier’s newest destination in Africa and strengthening air connectivity between the two countries.
Companies listed on GCC exchanges reported aggregate net profits of $74.8 billion in Q2, up 31.3% over previous year. At the country level, the profit growth was led by Kuwait, Saudi Arabia, UAE and Oman, where firms posted double-digit y-o-y increases, according to Kamco Invest.
Leading Kuwaiti bank Burgan has launched a rights issue of up to KD50 million ($161.4 million) as part of efforts to boost its capital position and enhance financial flexibility to support its strategic priorities, including strengthening its Kuwait business, reallocating assets and accelerating digital transformation.
Kuwait-based Jazeera Airways has launched its biggest-ever sale, giving travellers the chance to buy one ticket and get the second for free with 3 million seats available for travel across the airline’s entire network. The promotion runs till September 26 and will cover more than six months of travel.
Alshaya Group, one of the world's leading brand franchise operators, has announced the opening of its first company-owned distribution centre in Kuwait, located in West Abdullah. Spanning 51,000 sq m, the facility offers 140,000 cu m of storage capacity.
Jazeera Airways, in partnership with CzechTourism, has announced the launch of its first-ever winter flights from Kuwait to Prague, expanding travel options for passengers seeking a European getaway during the festive season.
The Central Bank of Bahrain (CBB) has raised the overnight deposit interest rate by 25 basis points from 4.25% to 4.50%, effective September 17. The move comes following the US Federal Reserve’s announcement to raise the Interest Rate on Reserve Balances (IORB) by 25 basis points.
Kuwait's Burgan Bank said the shareholders of United Gulf Bank (UGB) have approved a proposal to change its trade name to Burgan Bank Bahrain, thus advancing the strategy to strengthen its core Kuwait business while building a more connected and differentiated regional banking proposition.
Heavy Engineering Industries & Shipbuilding Company (Heisco) has announced that it has secured a contract valued at KD111.05 million ($359 million) for delivering engineering, procurement and construction (EPC) of tanks for Kuwait Oil Company‘s Jurassic Light Oil export facilities.
Jazeera Airways, Kuwait’s low-cost carrier, has launched its End of Summer Sale, offering travellers up to 30% off fares across its network, giving them another opportunity to plan an affordable getaway before the end of the summer travel season.
