Latest news with #KD200
Gulf Insider
12-08-2025
- Business
- Gulf Insider
Kuwait Plans Fee Hikes For 67 Services, Some Up 17-Fold
Kuwait's Ministry of Commerce and Industry has proposed introducing or raising charges for 67 services — many of which are currently free — with some fees set to surge more than 17 times. The plan, drafted in line with a Cabinet directive to review service pricing, would see company establishment applications, now free, cost KD20, including for non-profit firms. Fees would also apply to services such as amending a company's fiscal year, cancelling mortgages and commercial agencies, and providing brokerage for fish, fodder, livestock, vegetables, fruit, and poultry. Temporary commercial licences would face the steepest hikes: a licence for a real estate or temporary jewellery showroom would jump from KD30 to KD500. Other changes include a 25% rise for capital amendments, partner changes, dissolutions, trade name updates, and management clause modifications. Licences to practise accounting would increase from KD150 to KD200, while company licence renewals and board member certificates would also rise by 25%. Representation at general assemblies would cost KD125, up from KD100, and ration card fees would double from KD5 to KD10. Officials said the overhaul responds to service cost gaps, fee comparisons with other Gulf states, and charges unchanged for over 50 years.
Arab Times
07-08-2025
- Business
- Arab Times
Man Pays KD105,000 For Property—Gets Nothing Until Court Steps In
KUWAIT CITY, Aug 7: The Civil Division in the Court of First Instance has ruled in favor of a citizen in a real estate dispute, ordering the annulment of a preliminary sale contract signed in June 2013 between the plaintiff and the defendant for a residential unit under construction in Hawally. The court ordered the defendant to return the full contract amount of KD105,000 to the plaintiff, along with moral compensation of KD5,001. It also instructed the defendant to pay legal expenses and KD200 in attorney fees. The plaintiff was represented by Attorney Mishari Al-Shammari, who argued that his client honored all contractual obligations by paying the agreed amount in full, with the expectation that the unit would be delivered upon completion of construction. However, the defendant breached the contract by refusing to register the agreement or hand over the property; causing substantial financial loss and psychological distress to the plaintiff. Al-Shammari submitted official documents to the court, including a copy of the preliminary sales contract and receipts proving full payment. The defendant, despite being formally notified, failed to appear at any of the trial sessions. The court referred the case to the Department of Experts at the Ministry of Justice. The report of the department confirmed that the defendant is liable for the full amount of KD105,000. The court further affirmed that the plaintiff met all contractual obligations, while the defendant's refusal to fulfill his responsibilities is a clear breach. Citing established legal principles and jurisprudence, the court ruled to annul the contract and award financial restitution and compensation to the plaintiff; in accordance with the legal provisions governing binding contracts. These provisions entitle the aggrieved party to seek contract cancellation and damages when the other party fails to meet their obligations without justification.
Arab Times
02-06-2025
- Business
- Arab Times
Sacrificial animal prices soar as ‘Eid Al-Adha' approaches
KUWAIT CITY, June 2: As Eid Al-Adha is fast approaching, livestock markets in the country have begun to witness a remarkable increase in sacrificial animal prices, amid expectations that these prices will continue to rise to record levels in the days leading up to the holiday. In a striking comparison, the price of a local sacrificial animal currently ranges between KD170 and KD200, which is roughly equivalent to the value of nine barrels of oil according to the announced international prices. This is a manifestation of the remarkable increase in the prices of sacrificial animals. The price of imported sheep, on the other hand, ranges between KD110 and KD150, which is also considered relatively high. The increase in sacrificial animal prices is attributed to several interrelated factors as follows: Short supply and high demand: This equation is the primary driver of the price increase, especially given the limited local livestock production, which fails to meet the increased demand during the Eid Al- Adha season. Rising local production costs: Local livestock farmers face rising costs for feed, veterinary care, and other livestock requirements, which directly impact the final selling price to the consumer. Rising import and transportation costs: Kuwait relies heavily on importing live livestock to meet the needs of the local market. Any increase in shipping, transportation and insurance costs from source countries inevitably leads to higher prices in the local market. Seasonal factors and speculation: Seasonality plays a significant role, as demand increases remarkably before Eid Al-Adha, potentially opening the door to monopolistic practices or speculation that contribute to unjustified price increases. This is considered a recurring crisis that necessitates radical solutions. The rising price of sacrificial animals is a problem that recurs annually; hence, the need for radical and sustainable measures to address it. Observers believe that these solutions include the following: Support local production: Provide more support to local livestock farmers to encourage them to increase and diversify production. Open new import markets: Search for new markets to import livestock at competitive prices and guaranteed health conditions to ensure ample supply and reasonable prices for consumers. Tighten market control:
Arab Times
21-04-2025
- Business
- Arab Times
DGCA under fire over KD200m tender
KUWAIT CITY, April 21: The Directorate General for Civil Aviation's (DGCA) tender documents for the supply, installation and operation of a passenger registration and early information system for border security have raised serious concerns over a potential conflict of interest. Sources told the daily that the documents included specifications and references that align closely with the systems and equipment of a company participating in the bid; suggesting the tender may have been tailored to favor that company. Sources said the tender is intended to award a specialized firm a comprehensive 10-year contract to manage, operate and provide training for the passenger system, with an estimated project value ranging from KD150 million to KD200 million. Sources revealed that the documents contain technical terminology and product descriptions uniquely associated with one of the bidders. 'In a further indication of bias, the documents also featured direct links to the company's services to clarify certain requirements and definitions, raising red flags among other participants,' sources said.
