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Nissan-Kicks_US-Version-2018 Kuwaiti Vehicles Market ended 2018 up 0.9% breaking the previous year decline and closing the year with 107.534 units sold. However, the  Nissan gained the 2nd place – up 13.3% – behind Toyota, the market leader with 28.4% market share. Economic Environment Kuwait’s economy accelerated in the third quarter of 2018 on the back of robust growth in the non-oil sector—thanks to the services and the agriculture sectors—and the oil sector, where increased production was… Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The head of the Kuwait Investment Authority’s London office has been fired with immediate effect following a period of turbulence at one of the world’s largest sovereign wealth funds that has been characterised by high staff turnover and legal battles with former employees.Saleh al-Ateeqi, who was hired from consultants McKinsey to lead the Kuwait Investment Office in 2018, was dismissed on Thursday, according to… Source link

Appeal against charges thrown out Fine of $155,000 after appeal Airline says it has ‘sufficient provisions’ Kuwait budget carrier Jazeera Airways has been ordered to pay a fine of more than $155,000 after an appeal against aircraft parking charges incurred during the Covid pandemic was thrown out. The claim was initially launched by Kuwait’s Directorate General of Civil Aviation, the federal authority for airline-related activities. The regulator had originally sought KD1.1 million ($3.6 million), with the court… Source link

For decades, the Kuwait Investment Authority kept a low profile as it garnered a reputation as one of the oil-rich Gulf’s most powerful and respected sovereign wealth funds. But last week, the KIA abruptly sacked Saleh al-Ateeqi, the head of its London investment arm, the Kuwait Investment Office, dragging the secretive fund into the spotlight.Founded in 1953, the KIA is one of the Gulf state’s most influential institutions and guardian of Kuwait’s wealth for a post-oil future. With an estimated $700bn or more in assets, under half of… Source link

Kuwaiti Vehicles Market Kuwaiti Vehicles Market in 2019 the market kept recovering with moderation. Full-year registrations in 2019 have been 114.605, growing (+6.6%) and the 2020 outlook is again moderately positive. Toyota held over 30% of market share while all other players stand well below. Economic Environment Kuwait economic stagnated in Q3 according to recent data. The oil sector contracted sharply, due to over-compliance with OPEC+ production cuts. While this decline was broadly offset by a large expansion… Source link

Kuwait has given a Chinese company a contract to build Mina Mubarak Al-Kabeer port, as the Gulf state seeks a greater share in world trade. The contract for the port located on Boubyan island in Kuwait went to the China Company for Communications and Construction, Kuwaiti state-run news agency Kuna reported. The deal is valued at $4 billion, according to local media. The port will act as a strategic base for the economic development of Kuwait, enhancing the country’s share in the regional and global supply-chain network, the… Source link

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Kuwait’s emir, Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, has died aged 86, the state news agency reported on Saturday.Sheikh Nawaf had been admitted to hospital for an emergency health problem in late November, where his condition had been described as stable.His three-year rule over Kuwait, a US ally in the Gulf, was blighted by ill health. His 83-year-old half brother, the crown prince Sheikh Mishal al-Ahmad… Source link

Cadillac-Lyriq_Concept-2020 Kuwait Autos Market Report 2010-2020 features historical data and insights plus professional forecast on new vehicles sales by type, manufacturer, brand and model providing an easy-to-use picture of current and future competitive landscape. Research Contents Focus2move Automotive Market Reports provide a comprehensive and extensive overview about this market including information on the cars and light commercial market size, market share and industry… Source link

Bank Muscat, Oman’s largest bank, has said it is closing its branch in Kuwait, a move analysts say reflects a strategy to focus on its domestic operations. In a disclosure on the Omani bourse, the bank did not give the reason for its pullout from Kuwait but analysts say financial uncertainties in the region may well be the reason. “The financial sector in the GCC is currently facing challenges such as lower interest rates, geopolitical uncertainties and oil price instability and that may well be the reason for Bank Muscat to pull… Source link

The 2021 Genesis GV70 Kuwaiti auto market in 2020 falls by 21% as the pandemic and the fall in oil prices affect sales. Full-Year sales have been 88.930, while MG enters the leaderboard by jumping 5 spots and reports the best performance (+33.8%). Market Trend The Kuwaiti car market has been hit in 2020 by the world-wide COVID-19 pandemic and by the fall of oil price in the international markets, which have impacted sales significantly. After starting the year with a very slight negative trend (-1.7%), the market… Source link