Kuwait plans to increase its water production capacity by more than 100 per cent to above 900m gallons a day (g/d), the International Water Summit (IWS) in Abu Dhabi was told on 17 January. This will involve building nine large…
Category: Kuwait
Kuwait rating affirmed at AA
Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency issuer default ratings (IDRs) at AA with a stable outlook. The country ceiling has been affirmed at AA+ and the short-term foreign and local currency IDRs have been affirmed at…
Kuwait corporate earnings fall in first half
The earnings of companies listed on the Kuwait Stock Exchange (KSE) fell by 9.1 per cent year-on-year in the first half of 2016, a report released by the National Bank of Kuwait today says. “The aggregate profits of 151 reporting…
Kuwait plans KPC subsidiary sales
For full coverage of Middle East business, see MEED Kuwait is taking steps to sell minority stakes in as many as four units of Kuwait Petroleum Corporation (KPC), Bloomberg reported acting oil minister Anas al-Saleh as saying this morning. “We…
GIC affirmed at A-
For full coverage of Middle East business, see MEED Fitch Ratings has affirmed Gulf Investment Corporation’s (GIC’s) long-term issuer default rating (IDR) at A- with a stable outlook and short-term IDR at F1, Fitch Ratings said in a report released…
Kuwait to have current account deficit in 2016
For full coverage of Middle East business, see MEED Kuwait’s current account will move into a deficit of 1 per cent of GDP in 2016 due to lower oil prices and continuing import growth, National Bank of Kuwait (NBK) said…
Gulf Bank sells KD 100m in BBB bonds
For full coverage of Middle East business, see MEED Kuwait’s Gulf Bank said today that it had issued KD 100m worth of 10-year non-callable before 5 years, Tier 2 Basel III – compliant subordinated bonds. KAMCO Investment Company and Kuwait…
KNPC finalising clean fuels megaloan
The Clean Fuels Project is being built at Mina al-Ahmadi (see map) For full coverage of Middle East business, see MEED Kuwait National Petroleum Company (KNPC) is in the final stages of talks with international financial institutions for the $6.4 billion…
S&P affirms NBK at A+
For full coverage of Middle East business, see MEED Standard & Poor’s (S&P) has affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+. All the bank’s ratings carry a stable outlook. “Our outlook on NBK is…
NBK reports 8 per cent profit growth
For full coverage of Middle East business, see MEED National Bank of Kuwait (NBK) reported a 7.8 per cent growth net profits of $929.7m (KD 282.2m) in 2015 from $862.6m (KD 261.8m) in 2014. Total assets as of year-end 2015 reached…