Kuwait Fund for Arab Economic Development (KAFED) is continuing to earmark substantial sums for backing up the national housing sector.Latest allocation for the Public Authority for Housing Welfare (PAHW) amounted to KD 17 million (USD 56 million), sai…
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KAFED handsomely supports national housing sector
Kuwait Fund for Arab Economic Development (KAFED) is continuing to earmark substantial sums for backing up the national housing sector.Latest allocation for the Public Authority for Housing Welfare (PAHW) amounted to KD 17 million (USD 56 million), sai…
CBK issues bonds, tawarruq worth KD 240 mln
The Central Bank of Kuwait announced on Monday that it issued KD 240 million (roughly USD 792 million) worth of bonds and tawarruq.The three-month issue period has a return rate of 1.250 percent, CBK mentioned in a statement to KUNA.Last January 4, CB…
Kuwait announces three new oil discoveries
Kuwaiti Minister of Oil and Minister of Electricity and Water Dr. Mohammad Al-Faris today announced the discovery of two new oil fields for the Kuwait Oil Company (KOC) in different regions of the country, in addition to the discovery of the extension …
USD stabilizes at KD 0.303, euro drops to KD 0.371
Exchange rate of the US dollar on Monday stabilized against the Kuwaiti dinar trading at KD 0.303, whereas the euro dropped to KD 0.371, compared to last Thursday’s rates, said the Central Bank of Kuwait (CBK).Rate of the sterling pound rose to KD 0.41…
Oil expert: Iraq needs between 5 to 7 years to exploit its common fields
– The Oil Expert, Hamza Al-Jawahiri, confirmed that: Iraq needs between 5 to 7 years to exploit its common fields with neighboring countries.He told the National Iraqi News Agency (NINA): We have common border fields with Iran, namely Abu Gharb, Fakka,…