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Bread is a politically-explosive issue in Egypt – failure to deliver it at an affordable price has triggered major riots in the past and the government wants to boost its storage capacity to reduce its reliance on international markets.
Reuters – Qatar announced contracts worth about $23bn on Thursday to buy attack helicopters, guided missiles, tankers and other weapons from Boeing Co, Airbus and other arms makers as the Gulf state accelerates its military build-up. The world’s top liquefied natural gas (LNG) exporter announced deals with about 20 global companies, including firms from the …
Reuters – Naeem Holding for Investments has received approval from the United Arab Emirate’s financial regulator to list on the Abu Dhabi exchange, the firm said, a further sign of closer economic ties between Egypt and the Gulf. “Coordination is ongoing with the Abu Dhabi market and the necessary measures for receiving the approval of …
The dispute which broke out in the runup to the summit pits Qatar against Egypt, Saudi Arabia, Bahrain and the United Arab Emirates.
Egyptian Foreign Minister Nabil Fahmy does not anticipate a quick reconciliation with Qatar
Nabil Fahmy’s Kuwaiti visit comes on the heels of a two-day stint to Beirut
Reuters – Kuwait’s parliament has approved the first reading of a bill to create the country’s first independent telecoms watchdog, according to the assembly’s website, a move that could lead to further liberalisation of the sector. The Ministry of Communications is the de facto regulator in the absence of a separate watchdog and also ultimately …
United Arab Emirates praises recent Saudi decision to list the Brotherhood as a terrorist organisation
Reuters – Kuwait’s Zain has finalised an $800m, five-year loan facility from 11 banks, the telecommunications operator said on Tuesday. Zain, which has operations in eight countries in the Middle East and Africa including Sudan, Iraq and Saudi Arabia, said it originally planned to raise $600m, but increased the facility’s size because of what it …
Reuters – A Kuwaiti court has fined the chairman of Al Ahli Bank, the country’s eighth largest bank by market capitalisation, KWD 1.5m ($5.3m) over alleged insider trading in the bank’s shares. The Court of First Instance fined Ahmed Yousef Behbehani, a member of a powerful Kuwaiti business family, after a complaint by the Capital …
Sheikh Sabah Hamad Sabah met with high-level officials to stress cooperation, investments
Reuters – Arabtec Holding, Dubai’s largest listed construction firm, is in the advanced stages of talks to fully acquire a construction company in Kuwait’s Kharafi Group, two sources aware of the discussions said. The Dubai firm is in talks with Kharafi National, a Kuwait-based contractor and facilities management firm which has operations in several Middle …
Kuwait topped the Gulf Cooperation Council (GCC) countries on the press freedom list but dropped 14 points to rank 91st worldwide.
Reuters – Kuwait’s first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition. This has led to stagnant growth and persistent losses for takaful firms operating in Kuwait, one of the world’s richest countries on a per capita basis, raising doubts about …
Reuters – A parliamentary investigation into a Kuwait Airways plan to buy and lease aircraft from Airbus will not affect the deal, the state carrier’s chairwoman told a local newspaper in comments published on Sunday. Kuwait’s parliament voted on Wednesday to investigate all contracts signed by state-owned Kuwait Airways, which is attempting its biggest overhaul …
Kuwait’s fiscal year runs from 1 April to 31 March.
Lebanon, Tunisia, Bulgaria, Lithuania, Qatar and Kuwait are among the world’s lesser developed markets and are outperforming more mainstream emerging markets
Reuters – Kuwait’s sovereign wealth fund will invest 500m euros ($676m) in Italian companies in coordination with Italy’s own strategic investment fund, Prime Minister Enrico Letta said on Tuesday. The deal follows similar agreements with Qatar’s investment fund last year to invest in Italian companies operating in the fashion, food and tourism sectors and a …
Campaign was undertaken by Kuwaiti women to support Egyptians in villages and poor areas, Badr Al-Humaidi says
Saudi Telecom lifts index with strong Q4 earnings
The Gulf country has recently announced measures to boost the Egyptian economy
The new cabinet line-up includes a new oil minister, Ali al-Omair, a lawmaker who is a senior member of the Islamist Salaf Alliance. He replaced Mustafa al-Shamali, who served in the post for just five months after serving several years as finance minister.
Morocco is under heavy pressure from international lenders to reduce its budget deficit after spending heavily on food and energy subsidies and higher public sector salaries in 2011 and 2012 to help defuse social tensions.
Al-Sabah asserts that the Kuwait Investment Authority will form partnerships with Egyptian organisations
Saudi Arabia says six mortar shells fell in an uninhabited area near the new al-Auja border guard centre of Hafr al-Batin, but caused no damage
Interim President announces establishment of Egyptian Agency for Development
Interim President heads delegation to Kuwait for high-level summit titled “Partners in Investment and Development”
The Third Arab-African Summit is scheduled to commence on Tuesday
Meeting discussed next week’s Arab-African summit in Kuwait: Ministry of Foreign Affairs
The interim president travelled to Kuwait and UAE, returning to Egypt on Friday