KUWAIT.Kuwait will cooperate with France in the field of nuclear power, the deputy prime minister of the Gulf nation said on Friday, hinting it could take a stake in French nuclear group Areva.
Speaking after a meeting with President Nicolas Sarkozy, Sheikh Jaber Moubarak Al-Hamad Al-Sabah said the two leaders had discussed the possible purchase of French military material and the issue of energy and nuclear reactors.
Asked if Kuwait would cooperate with France in the domain of nuclear energy for civilian use, he said: "Yes."
In response to a question on whether Kuwait was among the Gulf co
Posted: November 24, 2014
UAE. Andrew Liveris, speaking on the sidelines of a conference in Dubai, said his company was "moving from doing commodities just for commodities sake, moving more downstream and Kuwait is more about commodities..."
Posted: November 20, 2014
INTERNATIONAL. Both countries posted freedom scores of 8.1, according to the annual Economic Freedom of the Arab World report published by the Fraser Institute. Bahrain dropped from first place last year to third place and a score of 8.0 in this year's report, which is based on 2012 data, the most recent available.
Posted: November 17, 2014
SAUDI ARABIA. "The rapprochement reflects the countries' shared concerns of strategic threats in the region," according to Theodore Karasik. "There's been a lot of pressure on Qatar and a lot of behind-the-scenes negotiating, specifically with Kuwait acting as a broker."
Posted: November 11, 2014
UAE. Now that oil prices have fallen to below US$80 per barrel from around US$100 in the past few months, the economies of the oil-exporting nations of the Gulf Cooperation Council will be tested.
Posted: October 29, 2014
UAE. Total wealth in the GCC stood at US$ 1.7 tillion in 2014, up 4.75% from 2013; Total wealth in Saudi Arabia and UAE grew by 5%; Global household wealth up 8.3% to US$263 trillion, driven by the US and Europe, according to Credit Suisse Research Institute.
Posted: October 28, 2014
UAE. PwC commissioned a survey of more than 500 retail banking customers in the GCC, to find out what customers really want.
Posted: October 27, 2014
UAE. Major road, bridge and railway projects are already underway, or in the planning phase, in Dubai, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain.
Posted: October 23, 2014
KUWAIT. The KIA will sell its Kuwait Investment Co. holding in an IPO in the first half of next year; Kuwait Finance House and Mobile Telecommunications Co. shares will also be sold.
Posted: October 22, 2014
UAE. Saudi Arabia had the largest rail project pipeline in the region with over US$100bn, including the Riyadh Dammam High-Speed Rail, which is currently under study, along with the Eastern Province Municipality - Dammam Metro.
Posted: October 20, 2014
UAE. Up 400,000 barrels per day from August and the highest level since December 2013, led by Libyan output recovery; Higher volumes from Iraq also drove the increase; "It's numbers like this that are contributing to the enormous slide in oil prices."
Posted: October 8, 2014
INTERNATIONAL. As oil production swells, demand falters and prices slide, the global oil market appears on the verge of a pivotal shift from an era of scarcity to one of abundance.
Posted: October 7, 2014
UAE. The exit will enable NBK to strengthen its capital position and pursue its regional expansion strategy of owning and managing controlling stakes in entities in the MENA region, with a greater focus on the GCC.
Posted: October 6, 2014
UAE. Ventures ME report reveals the huge investment being made across the region in the school, college and university building sector.
Posted: October 3, 2014
INTERNATIONAL. Sharp cuts in Saudi Arabia's oil sale price to Asian customers came as the clearest sign yet that the world's largest exporter is trying to compete for crude market share.
Posted: October 2, 2014
UAE. "If the GCC is to maintain long-term sustainable growth, it will be very important to invest in education, increase productivity, and attract more foreign direct investment into high value industries, and step up more diverse export industries that are not dependent on commodities."
date:Posted: November 25, 2014
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
date:Posted: November 25, 2014
INTERNATIONAL. Participants in the global oil market are eagerly awaiting the Opec meeting on November 27, which could potentially set the tone and the direction of oil prices.