Kuwait posts first surplus since 2015
Rapporteur of the National Assembly budgets committee MP Osama Al-Zaid said on Sunday that the state budget for the fiscal year 2022/2023, which ended on March 31, posted a surplus of KD 6.5 billion, the first windfall since the2014/2015 fiscal year. The lawmaker said the final accounts of the fiscal year show revenues were KD […]
High oil does not cover budget obligations
The General Investment Authority said that the relative and temporary rise in oil revenues does not cover budget obligations and does not postpone or reduce the importance of pursuing draft laws that aim to provide liquidity in the state treasury and financial reforms. In its response to the observations of the Audit Bureau, the Authority […]
Al-Zour Refinery stopped… as a result of an emergency malfunction
The Kuwait Integrated Petroleum Industries Company (KIPIC) announced that the Al-Zour Refinery was subjected to a sudden interruption of fuel gas supplies due to a defect in one of the main valves of the Kuwait Oil Company, which led to an almost complete cessation of production operations at the Al-Zour Refinery. The company reported that […]
$137 million in profits from “Egyptian Kuwaiti Holding”
The Egyptian Kuwaiti Holding Company announced that, according to the financial statements for the financial period ending on September 30, 2023, prepared in accordance with Egyptian accounting standards, a net profit of $137 million has been achieved, the company’s total assets have reached two billion dollars, and total shareholders’ equity has reached $636 million. During […]