According to the Equity Markets Quarterly Review by Kuwait Finance and Investment Company (KFIC), GCC equities, as indicated by the MSCI GCC IMI index, fell by -1.3% QTD in Q1 2017. Bahrain’s BB All Share index was the top performing GCC index, followed by impressive quarterly performance from Kuwait’s Weighted Index.
Kuwait Finance and Investment Company (KFIC) notably attained a 211 thousand KD net profit in the 2016 financial year.
The Kuwaiti government’s education budget had grown relentlessly in recent years, allocating almost 10% of its annual budget to Kuwait’s education sector in 2016, as the leadership has continued to emphasise the importance of education in creating sustainable employment for their citizens and equipping them with the skills to compete in the global marketplace.
So whilst the effects of declining oil revenues have been considerable, Kuwait, which boasts large fiscal reserves accumulated over the past few decades, has been able to stave off the precipitous corrections that have hit some other petro-states in recent years.
“The underlying focus that the provincial government has had on the green economy started in 2009-2010 with the establishment of GreenCape and to demonstrate this here are some of the high level figures of the successful renewable technology developers.”
“Garmin has become a leader in a lot of fitness wearables, in the cycling market, in aviation and marine.”
“We are expecting the first product, the balloon, to be ready for the first world in early 2017. Our first valves will be ready second half of 2017.”
“We have more opportunity than we can address at the moment and that is another reason to look for funding. We are growing 100 to 150% year on year in dollar terms, so it is interesting times.”
“I think we’ve been given a phenomenal opportunity to take a company that in two years will be 50 years old and reengineer and reposition it.”
“Digiterra is a services organisation; focusing on the business to IT continuum, with about 60% of our business generated from business consultancy and 40% from an IT base.”
