Author: admin

KUWAIT: The Municipal Council, during its main session on Monday chaired by Vice Chairman Khaled Al-Mutairi, approved amendments to the building and commercial ratios for the Educational, Cultural, and Recreational Center project located on Abdullah Al-Ahmad Street. The Council explained that under the revised plan, Block (A) will feature a 40-storey tower with three underground parking levels. The ground through 13th floors will be dedicated to rental spaces for cultural, recreational, educational, and commercial purposes, while floors 14 through 40 will be allocated for hotel use, administrative offices or a mix of both.Block (B), the Council added, will include an…

KUWAIT: Undersecretary of the Ministry of Electricity, Water and Renewable Energy Dr Adel Al-Zamel affirmed Monday that Gulf Cooperation Council (GCC) countries have made remarkable progress in enhancing integration within the electricity sector, highlighting the GCC electrical interconnection project as a leading example of regional collaboration. Dr Al-Zamel made the remarks on behalf of the conference’s patron, Minister of Electricity, Water and Renewable Energy, Minister of Finance, and Acting Minister of State for Economic Affairs and Investment Dr Sabeeh Al-Mukhaizeem, during the opening of the GCC Power 2025 Conference and Exhibition in Kuwait.The event is organized by the Regional Committee…

KUWAIT: The International Summit on Artificial Intelligence Horizons 2025, organized by the Arab Open University (AOU) in Kuwait under the theme “Shaping the Future of Sustainability, Education and Smart Innovations,” will kick off on Wednesday and run for two days. The event is held under the patronage of His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister of Kuwait.In a press statement issued Monday, the university said the summit aligns with the country’s leadership directives to advance education and scientific research and enhance Kuwait’s role as a regional hub for innovation. It also supports Kuwait Vision 2035, which aims to…

Expansion project covers over 22,000 m² of advanced medical infrastructure; an estimated cost of KD 19 million KUWAIT: In a milestone that reaffirms its deep-rooted commitment to the community and its pioneering leadership in healthcare sector engagement, National Bank of Kuwait (NBK) held a ceremonial event to lay the foundation stone for the expansion of its Children’s Hospital for Pediatric Hematology, Oncology, & Stem Cell Transplant, through the development of the new building. The ceremony was held in the presence of Dr Ahmad Al-Awadhi, Minister of Health, Hamad Al-Bahar, NBK Group Chairman, and Isam Al-Sager, Vice Chairman and Group Chief…

Ripple Labs has become one of the world’s largest cryptocurrency companies, but executives aren’t stopping there, CEO Brad Garlinghouse told CNBC. Over the past year, the firm has ramped up efforts to bridge the Web3 world and an industry that has long been viewed as its foil — traditional finance.In an interview with CNBC’s “Crypto World” at the Ripple Swell 2025 conference in New York, Garlinghouse said his firm aims to offer a wide range of traditional financial services built on blockchain infrastructure, capitalizing on growing institutional adoption of digital assets.A blockchain is a decentralized digital ledger that logs transactions…

Check out the companies making the biggest moves midday: TreeHouse Foods — The food processor rallied 23% after announcing it’s being bought by European investment group Investindustrial for $22.50 per share in cash. That represents an 18% premium from Friday’s close. The deal values TreeHouse at nearly $3 billion. Tech stocks — Names tied to the artificial intelligence trade roared back on news of a possible end to the U.S. government shutdown, which contributed to investors’ risk-on attitude. Nvidia jumped nearly 3.5%, while AMD rose about 3.8%, and Broadcom gained 1.7%. Each of the “Magnificent Seven” stocks were in the…

In another attempt to make homebuying more affordable, President Donald Trump floated the idea of a 50-year mortgage in a social media post. In response, Federal Housing Finance Agency director Bill Pulte, who oversees Fannie Mae and Freddie Mac, posted that they are “working on it,” and that it would be, “a complete game-changer.”The purpose of a longer-term mortgage would be to lower the monthly payment for homeowners. The longer the term of the loan, the smaller the principal needed each month to pay it off in full. But such a plan has other trade-offs.Using the latest median sale price…

KUWAIT: Zain Kuwait signed a Memorandum of Understanding (MoU) with the Environment Public Authority (EPA), aiming to align institutional efforts in environmental awareness, community engagement, the exchange of data and technical expertise, and supporting national sustainability initiatives. The MoU was signed at the EPA’s headquarters, joined by Nawaf Al-Gharabally, CEO of Zain Kuwait, and Nouf Behbehani, Acting Director General of the Environment Public Authority, along with senior executives and teams from both entities.This step seeks to strengthen cooperation between Zain and the EPA across several key pillars. These include boosting environmental awareness and community participation through digital content and on-the-ground…

KUWAIT: The Embassy of the Federal Republic of Germany in Kuwait celebrated the 35th anniversary of German Unity Day, on Sunday. In his remarks, the German Ambassador to Kuwait Hans-Christian Freiherr von Reibnitz expressed gratitude to the Government and people of Kuwait for their continued friendship and support, conveying appreciation to Kuwait’s leadership the Amir, Crown Prince, and the Prime Minister for their steadfast commitment to strengthening bilateral relations. The German ambassador affirmed that his country and Kuwait share values of peace, resilience, and the rule of law, highlighting Kuwait’s role as a trusted partner in promoting international law and…

KUWAIT: Acting Director General of Kuwait News Agency (KUNA) Mohammad Al-Mannai met on Monday with ambassadors of the Association of Southeast Asian Nations (ASEAN) to Kuwait to discuss ways to enhance media cooperation and explore new avenues for partnership in professional development and training. During the meeting at KUNA headquarters, Al-Mannai highlighted Kuwait’s strong commitment to ASEAN as a key regional organization in political, economic, and cultural cooperation, and as one of the world’s emerging economic powers.He noted that Kuwait’s accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC) two years ago underscores its determination to deepen…