Top Kuwait News

Kuwait Reports $14.2bn Q1 Budget Surplus

Higher revenue from oil helped Kuwait post a 3.8 billion dinars ($14.22 billion) preliminary surplus in the first quarter of its 2008/09 fiscal year, government data showed yesterday. Arab News - 29Aug 04:53GMT
Kuwait Plays Leading Role in Drafting Agenda for Arab Economic Summit

Kuwaiti Finance Minister Mustafa Al-Shimali departed Egypt on Friday after taking part in meetings of the 82nd session of the ministerial Arab Economic and Social Council, in preparation for the Arab economic summit due to be hosted by Kuwait on January 19-20. KUNA (Kuwait News Agency) - 29Aug 12:26GMT
Bahrain's Workforce Hailed

Bahrain's increase in labour productivity has been the highest in the Gulf since 2000 according to research by the Conference Board, an independent, not-for-profit organisation based in the USA. Khaleej Times - 29Aug 10:38GMT
DP World Plans Huge Growth as Net Soars

Dubai World subsidiary Dubai Ports World said it will expand its global network of terminals as emerging markets trade boosted its financial results for the first half of 2008. Emirates Business 24/7 - 29Aug 08:01GMT
GCC tech investments to top $9.1bn

Technology investments in the GCC are expected to top $9.1bn by the end of 2008, making the region one of the world's leading hotspots for large-scale technology spending. The Peninsula - 29Aug 05:58GMT
Kuwait Earns Half Budget In Three Months

OPEC member Kuwait has earned 6.7 billion dinars (25 billion dollars) in the first three months of the current fiscal year, more than half the projected annual income, according finance ministry figures released. AFP - 28Aug 09:43GMT
Siemens In Talks With Gulf And Russian SWFs

Siemens, Europe's biggest engineering group, has held talks with sovereign wealth funds from the Gulf, Russia and other regions in an attempt to expand its long-term investor base. Financial Times - 28Aug 07:17GMT
Wataniya Airways to begin commercial flights in Jan.

From January 2009, Kuwait's air travelers will enjoy a larger selection of air carriers when the Wataniya Airways begins its commercial flights. Kuwait Times - 28Aug 05:32GMT
Sharia initiatives worth $10bn launched

Three of the Gulf's biggest financial house has teamed up to launch three investment vehicles worth $10 billion (Dh36.7bn). Emirates Business 24/7 - 28Aug 05:31GMT
NIB Deputy CEO talks about Dubai Group's $1.5 billion facility: Part I

(Arabic) Ahmad Al Janahi, Deputy CEO in Noor Islamic Bank says there's liquidity in the region's markets and many banks are still interested in financing deals. Al-Arabiya - 27Aug 12:38GMT

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Economy & Politics
GCC Monetary Union Unlikely by 2010
With only about two years to go, Gulf Arab oil producers may not be able to meet the target for a monetary union by 2010, and are unlikely to sever their dollar pegs because the US currency is appreciating against other major currencies.

Economy & Politics
Confidence Tricks
The HSBC Gulf Business Confidence Index reveals that although confidence levels remain high among Gulf business people, they are on a steady, downward trend.

Travel & Tourism
Doubling Portfolio
Hyatt International is looking to solidify its presence in the region with three more hotels in the UAE by 2012 and plans to tap into the main gateway cities in the Gulf.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Capital ($mil)
1	Mobile Telecommunications Company	Kuwait	28,038
2	Kuwait Finance House	Kuwait	20,930
3	National Bank of Kuwait	Kuwait	17,712
4	National Industries Group Holding	Kuwait	6,536
5	Commercial Bank of Kuwait	Kuwait	5,801
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