Boursa Kuwait ends session on a positive note
KUWAIT CITY, June 10: Boursa Kuwait ended Tuesday's session on a positive note, with the general index climbing 57.36 points, or 0.70 percent, to close at 8,216.99. Trading activity was robust, as 369.9 million shares changed hands through 21,325 transactions, generating a total value of KD 101.9 million (approximately $311.8 million). The Premier Market Index led the gains, advancing 70.37 points, or 0.79 percent, to finish at 8,924.60. Trading volume on the Premier Market reached 222.5 million shares across 12,829 transactions, with a turnover of KD 84.5 million (about $258.5 million). Meanwhile, the Main Market Index edged up by 16.50 points, or 0.24 percent, settling at 7,007.87. Investors traded 147.4 million shares in 8,496 deals, with a total value of KD 17.4 million (roughly $53.2 million). The Main 50 Index also posted gains, rising 14.72 points, or 0.20 percent, to close at 7,196.18. A total of 128.2 million shares were traded through 5,931 transactions, amounting to KD 13.8 million ($42.2 million).(KUNA)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
13 hours ago
- Kuwait Times
Kuwait Entertainment City to attract global investors, operators
Kuwait Entertainment City to attract global investors, operators Cabinet reviews progress on long-delayed KD 200 million project KUWAIT: Kuwait's Cabinet reviewed progress of the Entertainment City project, a long-delayed project expected to boost tourism, create jobs and diversify the country's economy. In a joint briefing to the Cabinet on Tuesday, Sheikh Dr Meshaal Jaber Al-Ahmad Al-Sabah, Director General of the Kuwait Direct Investment Promotion Authority (KDIPA); Sheikh Saud Salem Abdulaziz Al-Sabah, Managing Director of the Kuwait Investment Authority (KIA); and Sheikh Mohammad Salman Hamoud Al-Sabah, Acting Director of the Asset Monitoring Unit in the General Reserve Sector, outlined the government's updated vision for the Entertainment City project. They described the planned development as 'a community service and a major tourism destination that will help stimulate Kuwait's economy.' They added: 'Once the necessary implementation steps are completed, the project will attract top-tier international companies to invest in and operate this landmark tourism site.' This week's discussion follows the Cabinet's directive in December 2024, which formally called for accelerating execution of the project — originally launched nearly a decade ago. Entertainment City, once a flagship amusement park, was closed in 2016 for renovation and redevelopment. The site, located in Doha, was later approved by the Municipal Council for expansion to 2.65 million square meters. Over the years, multiple government decisions — in 2019 and again in 2024 — refined the scope of the project and approved environmental assessments and zoning adjustments. Most recently, in July 2024, the Municipal Council agreed to transfer project oversight to the KIA, allowing the agency to manage site adaptation and investment terms. According to feasibility studies, the new Entertainment City is expected to cost around KD 200 million, contribute KD 85 million to Kuwait's GDP by 2035, and generate 4,000 jobs. It is also projected to attract up to 900,000 visitors annually by 2030. The Kuwait Touristic Enterprises Company, a state-owned entity, has assembled a consultancy team to explore design and operational models with the goal of maximizing long-term economic return and attracting foreign expertise. — Agencies
Kuwait Times
2 days ago
- Kuwait Times
KU's Gulf Studies Center hosts lecture on Kuwait's global image
KUWAIT: The Center for Gulf and Arabian Peninsula Studies at Kuwait University hosted a lecture titled 'Kuwait in Foreign Eyes' on Thursday, delivered by Croatian Ambassador to Kuwait Emir Muharemi. The event was held in conjunction with the country's 64th Independence Day celebrations and was moderated by Dr Ghanem Al-Najjar, Professor of State Relations at KU. Speaking to KUNA following the event, Head of the Center Dr Yaqoub Al-Kandari said the lecture featured the presentation of Ambassador Muharemi's newly released book titled Kuwait: Sand, Pearls, and Oil – An Introduction to History, Politics, and Foreign Relations, which he authored and translated into English. Notably, it is the first foreign-authored publication to be issued by the center. Dr Yaqoub Al-Kandari Ambassador of Croatia, Amir Muharemi Al-Kandari emphasized that the center's role extends beyond academic discourse to fostering cultural understanding and showcasing Kuwait's historical and geopolitical significance through diverse perspectives. 'These activities are integral to our mission, especially as we mark a cherished national occasion,' he noted, stressing the importance of promoting cultural exchange and enhancing Kuwait's presence across scientific, diplomatic and cultural arenas. In remarks to KUNA, Ambassador Muharemi said the lecture aimed to offer foreign diplomats and business professionals a concise overview of Kuwait's political landscape, foreign policy, and international standing. He noted that the book explores key milestones in Kuwait's modern history, including its independence, the adoption of the constitution, and the establishment of the country's parliamentary democracy. The ambassador also delved into Kuwait's historical ties with the Ottoman Empire and Britain, the founding of the Mubarak Al-Sabah dynasty, and the delineation of Kuwait's modern borders. Expressing his gratitude, Muharemi thanked the Center for hosting the event and supporting the English translation of his work. 'This book is my humble tribute to Kuwait and its people – a reflection of the warmth and generosity I have experienced during my time here,' he said.- KUNA
Kuwait Times
2 days ago
- Kuwait Times
Kuwait Cabinet greenlights asset‑freezing powers and KD500K fines to fight terror financing
Cabinet approves legal amendments to strengthen counterterrorism and financial crime laws in line with UN Security Council resolutions. KUWAIT: Kuwait's Cabinet has approved a draft law aimed at enhancing the country's ability to combat terrorism and financial crimes by aligning national laws with United Nations Security Council (UNSC) resolutions. The approval came during the Cabinet's weekly meeting and follows a recommendation from the Ministerial Legal Affairs Committee. The draft will now be submitted to His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah for final ratification. Under the proposed amendments, the government will be empowered to implement necessary actions based on UN decisions, including freezing assets, blocking financial transactions, and listing individuals or entities suspected of involvement in terrorism or the proliferation of weapons of mass destruction. The law states: 'Decisions will be issued by the Cabinet based on recommendations from the Minister of Foreign Affairs, and shall be effective from the date of issuance, while safeguarding the rights of individuals acting in good faith.' Additionally, the Cabinet may delegate these powers to individual ministers, who in turn can form special committees to carry out these measures. The executive regulations will set out detailed rules on publishing decisions, handling appeals, managing frozen funds, and allowing limited releases of funds to cover essential living expenses, ensuring the use of such funds remains strictly controlled. The draft law also introduces financial penalties ranging from KD 10,000 to KD 500,000 for violations of decisions issued under this legislation. These fines will be applied alongside any penalties imposed by financial regulatory authorities. Existing laws and regulations addressing UN counterterrorism mandates will remain in force unless they conflict with the new amendments or are repealed. An explanatory note accompanying the draft highlighted that the amendments are designed 'to provide the Cabinet, as the highest executive authority, with the legal framework necessary to fulfill Kuwait's international obligations without exceeding constitutional boundaries or infringing upon the rights of innocent individuals.' — Agencies
