It will be ICBC’s fourth branch in the Gulf Arab region after Doha, Abu Dhabi and Dubai.
Under the new rules, joint-stock companies need annual profits of five per cent of their capital, instead of the previous 7.5 per cent.
For some stocks, such as DP World, NBAD and Ooredoo, the expected inflows will be more than 10 times bigger than the average daily trading volume, predict experts.
Kuwait Petroleum Corp (KPC) signed a $12 billion LNG supply deal with Royal Dutch Shell on Sunday.
The resignation comes after a senior US official allegedly claimed that Nayef al-Ajmi had “a history of promoting jihad in Syria”.
Kuwait Petroleum Corp (KPC) also plans to sign a $3 billion deal LNG supply deal with BP, a senior executive said.
Burgan made a net profit of KD17.1 million ($60.8 million) in the three months to the end of March.
The company, a franchise operator of restaurants including KFC and Pizza Hut, made $64.4 million in the first three months of 2014.
Agility made a profit of 11.24 million dinars ($40.04 million) in the first three months of 2014.
Kuwait’s regulator noticed GFH stock traded in high volumes in May 2013, the Islamic investment firm said in a statement.
Zain did not explain why it had done the deal but its chief executive said last year that the Kuwaiti telco wanted to retain majority control of the subsidiary.
KIPCO’s first-quarter revenue rose 19 per cent to 137 million dinars.
BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.
Ultimatum a sign of the Capital Markets Authority (CMA) tightening its oversight on corporate disclosure norms in the Gulf State’s financial sector.
Accad joins Ahli, a medium-sized lender, from Kuwait’s Gulf Bank where he resigned as CEO last year.
The rules include separating the positions of chairman and chief executive, prompt disclosure of information to the market, and establishing internal controls and risk management.
Subsidies in the major oil producer are expected to cost 5.11 billion dinars ($18.2 billion) next fiscal year to cover items like fuel and energy.
At present, investors wishing to raise their stake in a firm to more than 30 per cent must offer to buy all of its shares under the same price and conditions.
Rising air conditioning demand during summer and a lack of domestic supply means Kuwait needs to import more gas each year to run its power plants.
Mohammed al-Omar has asked to resign and will retire from the beginning of next month, KFH said in a bourse statement.
The company posted a net loss of 8.2 million Kuwaiti dinars ($29.2 million) for the 2013, against a 3.3 million dinar loss a year earlier.
Wataniya made a net attributable profit of 19.8 million dinars ($70.3 million) in the three months to March 31.
The country has been considering an IPO of its stock market for years, but political infighting and entrenched bureaucracy delayed it.
The firm made a net profit of 55.9 million dinars ($198.5 million) in the three months to March 31.
Kuwait’s central bank governor said that the state needs to reduce wasteful spending and “rationalise” subsidy programmes.
Two newspapers were suspended after they published stories about a recording that discusses an alleged plot to overthrow the Gulf state’s ruling system.
The company, which filed a lawsuit, claims Zain’s takeover had stopped the firm buying Iraqna, causing it losses of $4.5 billion.
Net profit rose to 26.06 million dinars in the first three months of 2014 from 23 million dinars in the same period a year ago.
The deadline for bids for the engineering, procurement and construction (EPC) contract is May 11, a senior executive said.
The country’s fourth-largest lender by assets said net profit for the first quarter was $31.1 million.