I was checking Kuwait Stock Exchange website this early morning, you see I also lost a big deal of money in trading (or should I call it playing around) with stock exchange, I saw they have introduced a new smart trading system named X-Stream which is used by American stock exchange NASDAQ.
Initially I can say the new trading system is faster and far more reliable, they cancelled trading by fractions and now minimum trading amount is one share, they increased the order value to 5 Million shares, also no more 5 minutes waiting for cancelling/modifying orders, in addition to many new features.
I heard the new system will help preventing the last minute changes (closing time) thus reducing cheating, nice.
Note: There was a problem in the first day of launching the new trading system and they say they will fix it shortly.
Its been almost a year since Wataniya Airways has stopped and rumors were that they had financial issues back then, personally I liked Wataniya Airways because they offered good prices and relatively good flight experience.
I heard news that Wataniya Airways may actually come back; Kuwait Stock Exchange was going to cancel their stock on the market but their shareholders have pleaded for more time as they are considering to increase the company’s capital so they can come back, though nothing is confirmed at this moment.
I received news that Petronet company that makes re-fill cards for gas stations will be terminated and undergo liquidation process in two weeks due to financial crises which accroding to them was the result of not accepting their cards by fuel stations, they say their losses exceed 2 Million KD.
I recall couple weeks back customers were complaining Petronet cards were not working. Sadly after Wataniya Airways comes Petronet, I wonder if they will give people their money back.
I was passing by Hawally and saw that the new Islamic bank in Kuwait, Warba, started operating. I recall a few years ago there was only KFH but now they’re five; KFH, Boubyan, KIB, BKME, and now Warba. I think confirming to Islamic sharia has its financial benefits plus many are comfortable dealing with Islamic banks where the term interest is not used.
I’ve to admit first that I like eating at Chili’s and I usually choose it over other restaurants but seeing how my order costs much more in Kuwait than the same order in other countries upsets me.
My usual order is Boneless Buffalo Wings, Margarita Grilled Chicken, and Soda (Diet Pepsi), sadly in Kuwait they’re priced higher and when I say higher I’m not talking about 200-300 fils more but Dinars, My sub-total in Kuwait is 10.600 KD, while in Dubai its 7.700 KD (That’s 2.900 KD less), and Los Angeles 5.400 KD (That’s 5.200 KD less). The same problem is also there with several other restaurants and cafe’s in Kuwait.
We all see how employees are striking for salary increase but I believe our main problem is the increasing prices and high inflation rate in Kuwait.
Below is the conversion rates table from NBK online:
I came across this new published study titled The World Richest Countries 2011 by Forbes Magazine stating that Kuwait has ranked #15, the study looked on the average income per year for an individual.
As in above table Qatar came in first place and was named as world’s richest country 2011 with average income about $88,222 (24, 200 KD). Forbes explains that Qatar, Kuwait, and United Arab Emirates have made such wealth because of the current high prices of oil, I think what also helps is the relatively small population.
I saw billboards on Kuwait streets stating that Thukher (ذخر) are now open for those who wish to apply, don’t know what Thukher is? Its a national project to develop the next generation leaders with skills necessary to lead tomorrow’s organizations in Kuwait and lead toward development.
Those who pass the tests will get special courses at Cornell University in Ithaca New York, if you ask me its a great step for one’s career and Kuwait. To apply Cick Here
I received news that Warba Bank will operate in two weeks, I spoke with their customer service and they said they will start with five branches in Kuwait (Salmiyah, Farwaniya, Hawally, and Kuwait city).
Warba Bank is the 4th Islamic bank in Kuwait with a capital of KD. 130 Million and represented by Kuwait Investment Authority that owns 24% of shares while the rest were equally allocated among all Kuwaiti Nationals back in 2009.
Looks like Kuwaiti investors are fed-up with local stock exchange because I read that Kuwaiti, Saudi, and Emarati businessmen are starting to invest millions in Hollywood movies, now that’s a smart investment in one of the biggest industries of our time.
Now let’s see what are the hit movies we have this year:
Winter 2012: The Hobbit: An Unexpected Journey, James Bond: Sky Fall.
Spring 2012: Men in Black III, Ghost Rider: Spirit of Vengeance, Underworld: Awakening, Titanic 3D.
Summer 2012: The Dark Knight Rises, The Avengers, The Amazing Spider-Man, The Expendables 2, The Bourne Legacy.
اعجبي البرنامج الذي طرحته شركة فيفا للاتصالات حيث يتيح للموظفين بكافة قطاعات العمل في الكويت فرصة الحصول على دورة في التطور الديناميكي او كما يطلق عليه STB-1 في التسويق في واحدة من ارقى الجامعات البريطانية في لندن King’s College.ا
قرأت عن البرنامج وبرأيي انه بساعد كل طموح وكل صاحب مشروع في فهم ديناميكية السوق المحلي وتحقيق النجاح, مدة الدورة 5 ايام وستقوم الشركة باختيار 10 اشخاص وكل ما على الراغبين بهذه الدوره هو التسجيل على الموقع ونتمنا لكم التوفيق.ا
This afternoon I was at Marina Mall and decided to pay one last visit to Virgin Megastore, I never wanted to believe that its shutting down at the end of this month but its true.
I looked at the salesman and said “I’m sure you already know my question so can you tell me why?”, he pointed out he’s not exactly sure about the real reason behind closing it down but most probably due to strict censorship issues and slow-business.
While I was in Dubai, I saw they had over 10 branches for Virgin Megastore with no issues whatever, and the only one in Kuwait is closing down. Anyhow, I was told that the management may open a branch at the Avenues Mall.
As for the existing location, they said they will open a franchise sportswear, I brought you some pictures to remember Virgin Megastore by.
