Latest news with #AlShall
Arab Times
03-08-2025
- Business
- Arab Times
Kuwait's Domestic Labor Force: The Real Numbers Might Surprise You!
KUWAIT CITY, Aug 3: According to a report released by AlShall, domestic workers made up 25.2 percent of Kuwait's total expatriate workforce by the end of Q1 2025, totaling about 745,000 workers, which is a 5.6 percent decrease compared to the end of Q1 2024. This workforce includes approximately 415,000 women and 330,000 men, reports Al-Seyassah daily. The report explained that the Philippines led the female domestic workforce with around 131,000 workers, down from about 175,000 at the end of Q1 2024. Male domestic workers from India led the male workforce with approximately 213,000 workers, down from 248,000 at the end of Q1 2024. India leads in the total number of domestic workers of both genders, representing 42.2 percent of the workforce, followed by Sri Lanka and the Philippines, each accounting for about 17.9 percent. Four nationalities - India, Sri Lanka, the Philippines, and Bangladesh - account for approximately 89.6 percent of the total domestic workforce, out of a total of ten nationalities. Regarding expatriate labor in general, AlShall reported that the total number of Indian workers is approximately 884,000, representing 29.9 percent of the total labor force, including Kuwaiti workers, and about 35.3 percent of the total expatriate labor force, leading in both categories. Egyptian workers rank second, with around 472,000 workers, accounting for 16 percent of the total labor force and approximately 18.8 percent of the expatriate workforce. They are followed by Kuwaiti workers, numbering about 450,000 compared to 458,000 at the end of Q1 2024, representing 15.2 percent of the total labor force. This percentage may increase if military personnel figures are included in the data. The AlShall report revealed that the total Kuwaiti workforce at the end of the first half of the year amounted to approximately 491,000, a figure that differs from the data provided by the Central Statistical Bureau. It stated, 'We have no explanation for the discrepancy between the two figures unless the higher number includes military personnel and the unemployed'. In addition, Bangladesh ranked fourth with a total workforce of approximately 278,000, representing 9.4 percent of the total labor force. The Philippines ranked fifth with around 194,000 workers, accounting for 6.6 percent of the total workforce and approximately 7.7 percent of the total expatriate workforce.
Zawya
01-08-2025
- Business
- Zawya
Kuwait Petroleum annual profit slips 5.8% on lower crude prices
KUWAIT: State-owned Kuwait Petroleum Corporation posted a net profit of 1.366 billion dinars ($4.47 billion) for the fiscal year ended March 31, down 5.8% year-on-year according to Reuters calculations based on the company's latest annual report. The company and its subsidiaries posted a net profit of 1.450 billion dinars in the previous fiscal year. KPC did not give a reason for the decline, but lower oil prices likely dented returns. The average price of Kuwaiti crude fell 5.5% to $79.70 per barrel during the 2024/25 fiscal year, down from $84.40 a year earlier, according to Kuwait-based financial advisory firm AlShall. Despite the drop in profit, KPC subsidiary Kuwait Oil Company achieved its annual production target for the first time in seven years, with sustainable capacity reaching 2.59 million barrels per day, the report said. Kuwait Oil Company is the country's main crude producer, alongside Kuwait Gulf Oil Company, which operates in the Neutral Zone shared with Saudi Arabia. The report described the production milestone as "a major operational achievement" and noted that heavy crude output reached 95,000 bpd — its highest level since the heavy oil project began in 2020. (Reporting by Ahmed Hagagy. Editing by Yousef Saba and Mark Potter)
