The Civil Service Bureau announced the suspension of work in all ministries, government agencies, public bodies and institutions on Thursday, February 8, as an official holiday on the occasion of the anniversary of Isra and Miraj. The post Thursday, 8 February declared holiday on Isra and Miraj appeared first on TimesKuwait ..read more

 Threads of Harmony exhibition begins The House of Sadu, a renowned Kuwaiti cultural center, and the Kashmir Loom collaborated with the Indian Embassy to host a dazzling exhibition of Kashmiri textiles in Kuwait City. The event served as a platform for cultural exchange, artistic appreciation, and strengthening the ties between India and Kuwait. The exhibition showcased not just textiles, but also a glimpse into Kashmir’s breathtaking nature, carpet-making traditions, and diverse food products. Attendees gained a deeper appreciation for the region’s cultural tapestry. In a press statemen ..read more

The 40th relief planeload to Gaza left for AlArish Airport on Monday carrying 40 tons of humanitarian aid and three ambulances organized by Al-Salam Association for Humanitarian and Charitable Works in partnership with the International Islamic Charity Organization (IICO). Chairperson of the Board of Directors of Al-Salam Association and a member of the Board of Directors of the International Islamic Charity Organization, Dr. Nabil Al-Aoun, spoke of the coordination efforts to Kuwait News Agency (KUNA) saying that it expedited aid delivery to Gaza. Al-Aoun said that the 40th relief plane conta ..read more

Kuwait’s Municipality affirmed on Monday that the state’s capabilities and properties are a red line not to be violated in light of the existence of regulations and laws that facilitate individuals’ and companies’ ability to revise previous violations. Director General of Kuwait Municipality Saud Al-Dabbous made these remarks during a lecture on the new advertising regulations. He stated that though they have been amended and new licensing programs are in development, they will not be the last step in their vision for developing and digitizing Kuwait’s municipality. He stressed the continuatio ..read more

The Ministry of Interior has opened an extensive investigation to determine the circumstances and causes of a row that caused injury to 6 soldiers, including a captain and a first lieutenant, while the circumstances of the quarrel that occurred between men working in the General Administration of Traffic, Public Security, and Criminal Investigations are not known. According to a security source, those involved in the quarrel were two policemen, a first sergeant, a corporal, a captain, and a first lieutenant, saying medical reports have been attached to the case file. On the other hand, Task Fo ..read more

The Board of Directors of the Independent Petroleum Group Company announced its approval of the audited annual financial statements for the year ending on December 31, 2023, during a meeting held yesterday. The financial results revealed a net profit of 7.82 million dinars, translating to earnings per share of 43.24 fils per share. This marks a slight increase compared to the 2022 profits of 7.65 million dinars, or 42.35 fils per share, reports Al-Anba daily. Furthermore, the Board of Directors has proposed a distribution of cash dividends of 30% of the nominal value of one share, equivalent t ..read more

The Wafra International Investment Company has announced its role as co-manager in the issuance of an initial unsecured sukuk for Kuwait Finance House (KFH) valued at one billion dollars. The sukuk has an annual return of 5.011%, payable semi-annually under the sukuk program, and will be listed on the London Stock Exchange. According to a press statement by Wafra, these sukuk represent the first international issuance from Kuwait for 2024, marking one of the largest unsecured primary sukuk issuances from Kuwait and KFH’s inaugural issuance under the sukuk program established in 2023. Despite g ..read more

As part of Kuwait’s efforts to address the tax challenges arising from the digitization of the economy, KPMG in Kuwait will hold its annual Talking Tax conference on January 23. On November 15, 2023, Kuwait had announced regarding its accession to the comprehensive framework of the Organization for Economic Cooperation and Development (OECD) and the G20 on tax erosion and profit shifting. This international collaboration involves over 140 member countries and is part of Kuwait’s broader efforts to combat tax evasion. Zubair Patel, Head of the Tax Department at KPMG in Kuwait, commented on this ..read more

The report issued by KAMCO Invest on the fixed income markets in the Gulf countries for 2023 has highlighted a significant decline in bond issuances in Kuwait; dropping to their lowest levels over the past three years, totaling approximately $300 million in the preceding year. This represents a notable decrease compared to $500 million in 2022 and $2.2 billion in 2021. The report underlines that emerging markets, including those in the Gulf, have experienced substantial bond issuances since the beginning of 2024. The aim is to capitalize on the growing demand for new bond issues and secure fav ..read more

Director of the Maintenance of Main Transformers Department at the Ministry of Electricity, Water and Renewable Energy, Eng. Nahar Al-Dhafiri, maintenance operations at the various voltage stations are proceeding as required and as planned according to the contracts. Al-Dhafiri pointed told-Anba that the administration has finished preparing tenders for maintenance contracts for the period after 2025 and they are in the process of being tendered to the Central Tenders Committee, reports Al-Anba daily. He said that the administration supervises 650 stations that are subject to periodic maintena ..read more