Latest news with #KuwaitCity
Zawya
a day ago
- Business
- Zawya
Kuwait: MEW gets CAPT approval to link external sites, NDCC
KUWAIT CITY - The Ministry of Electricity, Water and Renewable Energy has obtained approval from the Central Agency for Public Tenders (CAPT) to issue a tender for linking the external sites of the ministry with the National Data Control Center (NDCC), say sources from the ministry. Sources indicated that this tender is included in the contracts of the ministry for the current fiscal year and are scheduled to be implemented by the Planning, Training and Information Systems Sector. Sources revealed that the tender is for linking the external branches with the data center in the main ministry building and the NDCC in order to allow the exchange of information and provision of electronic services. Sources pointed out that 'subject to the approval of CAPT, the tender will be announced and a date will be set for specialized companies to submit their bids, select the winning bid and implement the project under the regulations.' Sources added the ministry intends to install five main power transformer stations for the Automobile Circuit Project -- Rawda Block Three, Kabd C, cow farms, Sharq Block Four and Al- Arabi Club; in addition to supplying and extending the necessary underground cables to feed the five planned stations through two tenders: the first for the stations and the second for the cables. Sources said the two tenders aim to provide the energy needed to expand the high-voltage and ultra- high-voltage electrical networks resulting from the increased demand for electricity in the aforementioned areas, as well as to provide electricity continuously throughout the day. Moreover, the ministry also confirmed the start of electricity connection in Al-Mutlaa Residential City (N1 District - parts of Block One; in cooperation with the Public Authority for Housing Welfare (PAHW). It reiterated that it is now receiving applications to connect electricity to 251 plots Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Business
- Zawya
Private sector in Kuwait shows upturn
KUWAIT CITY - Official statistics from the Public Authority for Civil Information (PACI) revealed that the number of private companies reached 175,673 in the first half of 2025 -- 57,408 of which operate as sole proprietorships and 82,948 operate as headquarters. The newspaper obtained a copy of the statistics, stating that the number of company branches reached 35,360 while the number of service providers in the private sector totaled 371. The statistics also confirmed that 25,840 companies are under investigation, 6,613 have expired licenses; one company was closed and three are unlicensed. The total number of companies -- including those operating, under study, closed, and unlicensed -- reached 208,220. A source from the Ministry of Finance (MoF) confirmed that the increase in the number of private companies in recent years is the fruit of governmental efforts to support the private sector. The source stressed that the ministry is intensifying efforts, in coordination with other ministries, to diversify sources of income by allowing the private sector to contribute to the realization of development objectives. The source indicated that the ministry provides numerous services to the private sector; such as supporting the salaries of national workers, removing companies that demonstrate good faith from the blacklist, and continuing to amend laws to better serve the private companies, encourage investment and attract foreign capital. The source added that one of the most important policies of the ministry at present is opening doors for the private sector to be a partner in economic development, in line with Kuwait Vision 2035 and as per the directive of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah Al-Sabah to push the private sector forward. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Kuwait's KPC scales back tenders, pushes strategic growth
KUWAIT CITY - Kuwait Petroleum Corporation (KPC) has asked its subsidiaries to rationalize spending as much as possible and to defer tendering, allowing those only with significant potential to achieve sustainability and development; since it is also focusing on rationalizing all forms of waste in its subsidiaries, so that this will positively impact the profits of oil companies in the future. Sources revealed KPC also requested its subsidiaries to present proposals and studies to stimulate private sector contribution to accelerate the achievement of its 2040 strategy; especially since the private sector is one of the arms of Stateowned oil companies in the fields of exploration, production, marketing, refining, transportation, and providing the necessary materials for the oil industry through tenders. Sources affirmed that KPC welcomes the entry of the local private sector into the petrochemical industry; considering the approach of KPC Chief Executive Officer (CSO) Sheikh Nawaf Al-Saud Al-Sabah who recently called for the expansion of the petrochemical industry domestically and internationally to diversify the sources of revenue for the corporation and its subsidiaries, in light of the active global demand for petrochemical products, which have become a major player in enhancing returns. Sources disclosed that there are already existing companies operating in the Kuwaiti oil sector, through the Petrochemical Industries Company, and several local and international companies, with varying percentages. Sources explained that the KPC's approach focuses on achieving the highest returns for the sector, citing the experience of Kuwait Petrochemical Industries Company's acquisition two months ago of a 25 percent stake in the Chinese Wanhua Chemical Group, which operates in the petrochemical plants located in Yintai region in the People's Republic of China. Sources said this ensures the supply of Kuwaiti feedstock to these projects, which guarantees profitability on one hand and increases Kuwaiti supplies on the other hand. Regarding the existing and successful projects between KPC and the local and international companies in the field of petrochemicals, sources stated that in terms of local participation, KPC owns 80 percent stake in Kuwait Paraxylene Production Company, 46 percent in Kuwait Styrene Company, 24.5 percent in Equate Petrochemical Company, and 42.5 percent in Kuwait Olefins Company. On the most important shares of KPC outside Kuwait, sources said Kuwait Petrochemical Industries Company owns a 33.3 percent stake in the Gulf Petrochemical Industries Company (GPIC), 25 percent in the SK Advance Company in South Korea and 49 percent in the SK PIC Global Company in South Korea.
Zawya
5 days ago
- Business
- Zawya
Boursa Kuwait posts solid gains amid heavy volume
KUWAIT CITY - Boursa Kuwait finished Thursday's trading session in positive territory, with the general index climbing 70.42 points, or 0.83 percent, to settle at 8,598.42. Trading remained robust, as 819.3 million shares were exchanged across 40,798 cash transactions, generating a turnover of 136.7 million Kuwaiti dinars (approximately $447.1 million). The Main Market Index advanced 52.87 points, or 0.71 percent, to close at 7,452.38, supported by a brisk trading volume of 670.1 million shares via 31,178 transactions and a traded value of 80.2 million dinars (around $262.3 million). Meanwhile, the Premier Market Index saw an increase of 78.28 points, or 0.85 percent, closing at 9,309.26. The segment recorded a trading volume of 149.1 million shares through 9,620 transactions, with a turnover of 56.4 million dinars (about $184.5 million). In parallel, the Main 50 Index rose 27.92 points, or 0.38 percent, to stand at 7,452.03. A total of 377.7 million shares changed hands through 14,679 cash transactions totaling 44 million dinars (approximately $143.9 million).
Zawya
5 days ago
- Business
- Zawya
Kuwait unveils e-tax platform
KUWAIT CITY - The Ministry of Finance announced the launch of an online registration service for companies subject to the Multinational Entities Tax Law through its official website. This service falls within the framework of the ministry's commitment to implementing the provisions of Law No. 157/2024 and advancing digital transformation in service delivery. It is designed to streamline the registration process for companies subject to the law, per Article 75 'Self-Registration of the Taxpayer' of the law's executive regulations. This service allows companies to complete the registration process electronically through the Ministry of Finance's official website by following these steps: 1. Visit the Ministry of Finance website at 2. From the main menu, select 'Corporate and Institutional Tax,' or choose 'Electronic Tax Services' from the list of e-services. This will direct you to www. 3. Log in using your existing username and password, or click on 'Create Account' if you do not have one. 4. Once logged in, select the desired service and submit your registration request. It is worth noting that the Ministry of Finance reaffirms its commitment to developing the digital services system, which helps enhance institutional efficiency and improve compliance with tax legislation in the State of Kuwait.
