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  • UNWTO: International tourism – strongest half-year results since 2010

    AFGHANISTAN, 2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
  • Abu Dhabi says Gulf air embargo only applies to Qatar firms

    BAHRAIN, 2017/08/28 The air embargo imposed on Qatar only applies to airlines from Qatar or registered there, the United Arab Emirates Civil Aviation Authority said Tuesday.Embargo bans all Qatari aviation companies, aircraft registered in Qatar from landing or transiting through airspace of UAE, Saudi Arabia, Bahrain. Saudi Arabia and Bahrain issued identical statements on the air embargo, which came into result at the same time as Riyadh, Abu Dhabi and Manama broke off relations with Qatar on June 5, accusing it of supporting "terrorism".
  • Kuwaiti telecoms industry on cusp of service expansion

    KUWAIT, 2017/07/15 The telecoms sector in Kuwait has maintained steady increase in recent months, with profits rising on the back of robust request for mobile broadband and data services. In June National Bank of Kuwait (NBK) reported that profits from the telecoms sector hit KD60.8m ($200.4m) in the initial quarter of the year, representing increase of 5.8% year-on-time(y-o-y) and 13% of the total profits of exchange-listed companies, according to Boursa Kuwait figures. In addition, annual net profits for listed telecoms firms rose 9% last time– equivalent to 16% of total profits – reaching KD238m ($784.5m).
  • Policy Differences Emerge Among Gulf States Days After Wooing President Trump

    BAHRAIN, 2017/05/29 Cracks have appeared in a Saudi-led, US-backed anti-terrorist political and military alliance days next US President Donald J. Trump ended a historic visit to Saudi Arabia. The cracks stem from Qatar’s long-standing fundamental policy differences with Saudi Arabia and the United Arab Emirates about Iran and the role of political Islam. The cracks emerged as the result of an anti-Qatar media and cyber campaign involving a spate of anti-Qatar articles in US and Gulf media; the blocking of Qatar-backed media websites and broadcasts in Saudi Arabia, the United Arab Emirates and Egypt; statements by prominent former US government officials; and a recent seminar by the Washington-based Foundation for the Defense of Democracies that has long asserted that Qatar supports militant groups.
  • Kuwait steers spending towards downstream oil and gas

    KUWAIT, 2017/04/16 Kuwait’s new budget will focus capital spending on downstream oil and gas activities during FY 2017/18 in a bid to create jobs, offset falling crude export revenue and capitalise on rising regional request for refined products. The government is taking steps to expand private sector participation in economic development, inclunding through three planned power projects and a US dollar-denominated bond issue – a initial for Kuwait. Combined with efforts to boost price-added oil and gas production, these moves should help foreign investment and national revenue expand steadily over the medium term.
  • Kuwait sharpens focus on expanding tourism sector

    KUWAIT, 2017/04/15 Investment in Kuwait’s tourism industry is set to increase over the next decade, as the government moves to speed up construction of a new international airport terminal and several major hotel chains work to expand operations in the capital city. Airport construction Last month the government announced it had cut the completion time for a new terminal at Kuwait International Airport (KIA) from six years to four, moving the deadline forward to 2020. Emad Al Jalawi, director general for aviation safety and air transportation affairs, told the press in August the airport handled 11m passengers in 2015 and was expecting this to have risen to 12m in 2016. Designed for 6m passengers annually, KIA’s existing facilities are operating well beyond capacity.
  • Higher earning Why a university degree is worth more in some countries than others

    AFGHANISTAN, 2016/12/11 A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree. The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
  • Kuwait sets minimum wage for domestic staff

    KUWAIT, 2016/08/31 Kuwait has set a minimum wage for its hundreds of thousands of mostly Asian domestic staff, the initial country in the Gulf to do so, local media reported on Thursday. A decree issued by Interior Minister Sheikh Mohammad Khaled Al-Sabah set the minimum wage at 60 dinars ($200) a month and as well granted domestic staff a raft of other rights, Al-Anbaa newspaper reported.
  • Low oil prices push Kuwait into budget deficit

    KUWAIT, 2016/08/30 Lower oil prices have pushed Kuwait into a rare budget deficit, ending 16 straight years of surpluses for the energy-rich Gulf national, the finance minister said. The OPEC member recorded a budget shortfall of 4.6 billion dinars ($15.3 billion) in the fiscal year which ended on March 31, Anas al-Saleh said in a statement carried by the KUNA news agency late Monday. It was the initial shortfall since the fiscal year to March 1999.
  • Al Hamra Tower, Kuwait’s tallest structure at 414 meters, was built by Ahmadiah. Courtesy of Ministry of Information

    KUWAIT, 2016/04/09 The increase of Ahmadiah has mirrored the increase of Kuwait. Today the construction company continues its significant contribution and partnership with the public and private sectors At the same time as a visitor arrives in Kuwait, throughout their trip they will be driving on, looking at, living in, or utilizing buildings and infrastructure built by the country’s premier construction company: Ahmadiah Contracting & Trading Co.