Saturday , January 19 2019
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Kuwait

Kuwait to invest $20 billion to develop civil aviation: DCGA chief

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An investment of $20 billion is expected to be made in the next 10 years to develop and modernize civil aviation sector in Kuwait, a senior Kuwaiti official said. President of the Directorate General of Civil Aviation (DGCA) Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah made that statement as he presented a paper in a ministerial session titled ‘Connecting the World’ ... Read More »

Man Group to fight $156m Kuwaiti lawsuit

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A Kuwaiti state pension fund is suing Man Group, the UK alternative investment manager, in a UK court for $156m. The Gulf country’s Public Institution for Social Security filed the lawsuit in November, the government-run agency told Reuters in a statement.  It claimed that Man entered into “secret contracts with a former PIFSS executive between 1996 to 2013.” Its press statement ... Read More »

Drone used to smuggle drugs into Kuwait

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Kuwaiti authorities have arrested a man who used a drone to smuggle in drugs from a neighbouring country, the anti-narcotics department said. It said the department had seized four kilogrammes (nine pounds) of amphetamine and one kilogramme of hashish. Kuwait’s interior ministry posted a picture of the drone and the drugs on its Twitter handle. The authorities have regularly reported ... Read More »

Kuwait achieves new economic milestones

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Kuwait picked up the pace to accomplish further milestones in its efforts to achieve the pillars of the National Vision 2035 for “New-Kuwait,” of which was the convening of the second edition of the Kuwait Investment Forum (KIF 2018). Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, director general of Kuwait Direct Investment Promotion Authority (KDIPA), said: “KIF 2018 sought to showcase ... Read More »

Kuwait police investigating social media influencers for money laundering

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Detectives in Kuwait have been called to investigate several social media influencers for money laundering, according to reports. Arabic publication Al-Jarida cited sources as confirming the notices regarding more than 10 bank accounts belonging to social media stars. The sources said the balances in some of the accounts exceeded millions of Kuwaiti dinars and the ‘fashionista’ owners would need to ... Read More »

Kuwait’s ALAFCO inks deal to lease A320s to Scandinavian airline

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Kuwait-based Aviation Lease and Finance Company, better known as ALAFCO, has signed an agreement with Scandinavian Airline Systems (SAS) for the lease of five new A320neo aircraft. The aircraft will be leased for a period of 10 years, with the first aircraft scheduled to be delivered in April 2019, a statement said. Niklas Hardange, vice president SAS Fleet Management, said: ... Read More »

Kuwait spends $60bn on 2035 Vision, another $100bn to be invested

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Kuwait has executed projects worth more than $60 billion towards its Vision Kuwait 2035 strategy with a further $100 billion still to be invested, according to a senior official. Minister of Finance, Nayef Al-Hajraf, in a speech at the inaugural session of the Kuwaiti-Sino Investment Forum, said in comments published by Kuwait News Agency that many more projects will be ... Read More »

Kuwait Oil Company signs record $1.3bn deal

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Kuwait Oil Company (KOC) placed orders for drilling rigs valued at $1.3 billion, according to CEO Jamal Jaafar. The government-owned firm, a subsidiary of the holding company Kuwait Petroleum Corporation, signed contracts to buy 86 drilling rigs – the largest order in its KOC’s history, Kuwait Times reported. He added that 30 rigs have already been delivered by the contracted ... Read More »

Kuwait Airways signs agreement to buy eight Airbus A330-800neo planes

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Kuwait Airways said on Monday it has signed an agreement with European planemaker Airbus to buy eight A330-800neo airliners following five months of negotiations. The airline expects the deliveries to take place between March 2019 and the end of 2026, the Gulf carrier said on its Twitter account. Read More »

Woman arrested for trying to smuggle illegal drugs via Kuwait airport

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Kuwait: Customs authorities arrested a woman for trying to smuggle 3 kilogrammes of illegal drugs via the Kuwait International Airport. The customs officers became suspicious of the woman and screened her luggage to discover the drugs, which was hidden inside a container filled with honey, reported local Arabic daily Al-Qabas. She was referred to the anti-narcotics and liquor directorate for ... Read More »

Airbus Wins Kuwait Airways Order for Its Flagging A330Neo Wide-Body Jet

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Airbus SE won a contract from Kuwait Airways for its A330-800 aircraft model, securing a vital deal for the struggling program at the expense of a reduced order for the jet’s bigger sibling. Kuwait Air agreed to buy eight A330neos while paring a commitment for the larger A350 from 10 planes to five, according to a statement Monday. The order ... Read More »

Action Hotels committed to tourism development in Kuwait

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Chairman of Action Hotels, Sheikh Mubarak AM Al Sabah hosted a round of meetings at Kuwait’s White Palace recently with the Chairman and CEO of Accor International, Sebastien Bazin. The discussions focussed on the further growth of tourism and hospitality in Kuwait and the region, and included Accor’s chief executive officer, Gaurav Bhushan, as well as other team members. Several ... Read More »

Jordan signs financial assistance agreements with Saudi Arabia, Kuwait and UAE

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In the presence of Deputy Prime Minister and Minister of State, Rajai Muasher, the governments of Jordan, Saudi Arabia, Kuwait and the United Arab Emirates (UAE) signed a number of agreements and memorandums of understanding (MoUs) to set out the framework arrangements of their aid pledges under the June Makkah Conference, which will strengthen Jordan’s economy, attract foreign investments, and ... Read More »

Saudi, Qatar, UAE, Bahrain, Kuwait eligible for JP Morgan key bond index

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Dubai: Saudi Arabia, Qatar, the UAE, Bahrain and Kuwait will become eligible for the JP Morgan emerging market government bond indexes starting January 31, 2019, according to a JP Morgan statement sent to investors and reviewed. JP Morgan’s EMBI bond index is a key performance benchmark for emerging market investors. The eligible new bonds will be included in a phased ... Read More »

Oil rises on signs Opec not prepared to boost output

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Oil prices firmed on signs that Opec would not be prepared to raise output to address shrinking supplies from Iran and as Saudi Arabia signalled it was in no rush to bring prices down. Brent crude futures were up 98 cents a barrel to $79.03 a barrel at 1039 GMT, after hitting a high of $79.37. US West Texas Intermediate ... Read More »

Dog-smuggling Kuwaiti couple gets jail sentence for airport attack

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A Kuwaiti man and woman convicted of assaulting customs officers at Sri Lanka’s main international airport were handed a six month jail sentence suspended for five years, an official said. The 32-year-old woman and her 29-year-old male partner, who were also fined 138,000 rupees ($860) were sentenced on Friday. They were arrested after they turned violent when they were informed ... Read More »

Customs foils attempt to smuggle Ancient statue

Jordanian officials display looted bronze and ceramic figures confiscated from smugglers in Amman June 16, 2005. Jordan, which shares a large border with Iraq, has seized 1,347 looted Iraqi antiquities since the war. - PBEAHUNZDEF

KUWAIT: Customs officers discovered what seems to be a 170-cm-long Ancient Egyptian statue hidden inside a couch shipped by air. The statue was sent to the National Council for Culture, Arts and Letters (NCCAL) and is being examined in order to determine whether it belongs to the pharaonic era or not. A customs officer said a citizen came to collect ... Read More »

Drug smugglers arrested at sea

KUWAIT: A citizen and a non-Kuwaiti were arrested with 22 kg of hashish they fished out from the sea, said security sources. Case papers indicate that coastguards and narcotics police had been tipped off concerning the suspects’ plans to smuggle drugs by sea into the country. The sources added that detectives closely watched the site where the drugs had been ... Read More »

Arab expat arrested for marijuana smuggling in Kuwait

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Kuwait: Customs officers at Kuwait International Airport arrested an Arab expatriate who tried to smuggle marijuana into the country by replacing cigarette packs with around 55 grams of marijuana and possessing sweets made with marijuana. According to security sources and Kuwait MOI news website, a custom officer suspected the Arab passenger who arrived from an European country where marijuana is ... Read More »

Drug smugglers arrested at sea

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KUWAIT: A citizen and a non-Kuwaiti were arrested with 22 kg of hashish they fished out from the sea, said security sources. Case papers indicate that coastguards and narcotics police had been tipped off concerning the suspects’ plans to smuggle drugs by sea into the country. The sources added that detectives closely watched the site where the drugs had been ... Read More »