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MANAMA: Deputy CEO of Kuwait Oil Company (KOC) for South and East Kuwait Fuad Al-Shaikh on Wednesday reaffirmed the company’s commitment to participating in major international events as a key platform for sharing expertise and learning about the latest technologies and practices in the oil and gas sector. His remarks came during KOC’s participation in the three-day Middle East Oil, Gas and Geosciences Conference and Exhibition (MEOS&GEO) held in Bahrain.Al-Shaikh said KOC seeks to consolidate its position as a leading entity in the sector by showcasing its pioneering achievements, highlighting technologies developed by national competencies, and strengthening strategic partnerships with…

Defense Minister Sheikh Abdullah Ali Abdullah Al-Salem Al-Sabah receives Tunisian Minister of Defense Khaled Al-Suhaili and his accompanying delegation. — KUNA photos CAIRO: The Second Arab Forum for Adult Education and Lifelong Learning convened Tuesday with the participation of education experts and specialists from across the Arab world to explore ways of developing adult learning methods and approaches in the region. Speaking at the opening session, Director of the Department of Education and Scientific Research at the League of Arab States, Minister Plenipotentiary Dr Faraj Al-Ajmi, affirmed the Arab League’s commitment to eradicating illiteracy through the launch of the Second…

For the first time in 2025, the Federal Reserve is reducing the cost of borrowing, including for credit cards, loans and auto financing.As expected, the central bank cut the federal funds rate by 25 basis points on Wednesday, bringing it down to a range of 4% to 4.25%. That benchmark rate influences how much interest lenders charge on certain types of credit and loans.The Fed has kept borrowing costs elevated for more than two years to help slow inflation, since higher rates make it more expensive for households and businesses to spend and borrow. On July 30, Fed chair Jerome…

The Federal Reserve announced Wednesday it will lower its benchmark rate by a quarter point, paving the way for relief from some of the high borrowing costs that have weighed on consumers.The federal funds rate, which is set by the Federal Open Market Committee, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the central bank’s moves still affect the borrowing and savings rates they see every day.”The impact on household finances is likely to be mixed,” said Brett House, economics professor at Columbia Business School.”For households with variable-rate loans or other…

WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market.In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4.00%-4.25%.Newly-installed Governor Stephen Miran was the only policymaker voting against the quarter-point move, instead advocating for a half-point cut.Governors Michelle Bowman and Christopher Waller, looked at…

A recent InterNations Expat Insider survey ranks the best countries for expats in 2025.InterNations surveyed 10,085 expats with a sample size of at least 50 participants per country to determine the final ranking. A total of 46 destinations across the globe were ranked based on five topical categories: working abroad, personal finance, quality of life, expat essentials, and ease of settling in.Survey participants were asked to rate up to 53 factors on a scale of one to seven.Kathrin Chudoba, Chief Marketing Officer at InterNations, tells CNBC Make It that the biggest takeaway from this year’s ranking is that people looking…

KUWAIT: The Cabinet held its weekly meeting on Tuesday at Bayan Palace under the chairmanship of His Highness the Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah. Following the meeting, Deputy Prime Minister and Minister of State for Cabinet Affairs Shareeda Al-Maousherji outlined the key discussions and decisions. At the outset, the Council of Ministers reviewed messages received by His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah from a number of leaders of brotherly and friendly countries on strengthening bilateral ties and expanding cooperation across various fields.Support for QatarThe Cabinet praised the address delivered on behalf of His Highness the…

KUWAIT: Acting Director General of the Environment Public Authority (EPA) Nouf Behbehani has reaffirmed Kuwait’s firm commitment to protecting the ozone layer and advancing its national vision for sustainable development, highlighting the country’s role as a pioneering model in global environmental efforts.Behbehani spoke during a celebration organized by the EPA in cooperation with the United Nations Development Program (UNDP) for the International Day for the Preservation of the Ozone Layer. She noted that this year’s observance, held under the theme “From Scientific Knowledge to Global Action,” underscores the role of science in identifying threats to the ozone layer and the…

KUWAIT: A senior Kuwaiti customs official affirmed Wednesday that Kuwait’s pioneering experience in automating customs procedures qualifies it to play a leading role in developing the inter-Arab customs system. Acting Director of the Air Cargo Department at the General Administration of Customs Raed Al-Mathkour said during the 38th meeting of the Customs Procedures and Information Committee at the League of Arab States in Cairo that Kuwait has made significant strides in digitizing and streamlining customs operations, gaining extensive expertise over many years.Al-Mathkour noted that Kuwait has successfully shared its expertise with several Arab countries, including Egypt, where automated systems developed…

Live Nation CEO Michael Rapino and Smith Entertainment Group CEO Ryan Smith said this week that live events are more central than ever to culture and commerce in a post-pandemic world.Speaking at CNBC Sport and Boardroom’s Game Plan conference on Tuesday, the executives said that the high demand for in-person events has been unmistakable.”No matter what you bring to that table that day, you unite around that one shared experience,” Rapino said. “For those two hours, I tend to drop whatever baggage I have and have a shared moment.”According to Goldman Sachs, the live music industry is expected to grow…