KUWAIT: Kuwait has leased rice fields in Cambodia and plans to import food from the Asian country, a government official said in remarks published yesterday. Soaring food prices are a key driver of inflation in Kuwait, hitting 11 percent in April and May. Kuwait imports most of its food and has said it wants to invest in chicken and other farms as part of a national food plan. Daily Awan quoted Foreign Minister Undersecretary Khaled Al-Jarallah, who is with Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah on an Asian tour, as saying the rice fields would meet the Gulf Arab state’s food demand.
KAEC hosts real estate developers
JEDDAH: Emaar, The Economic City (Emaar.E.C.), hosted a workshop for the region’s leading real estate developers recently to highlight the development opportunities in the 168 million sq m mixed-use mega-project. Osama Alsenan, executive director — sales, and Hazem Kamel, manager — External Agents of Real Estate Properties Sales, Emaar.E.C., welcomed more than 350 representatives of top developers in the Gulf Cooperation Council (GCC) region. They presented an overview of the six key components of King Abdullah Economic City (KAEC), and the investment opportunities in each sector.
Mobily gifts 4 cars at Abha Festival
RIYADH: Four of the ten cars that Etihad Etisalat (Mobily) has set aside as raffle prizes for the Abha Festival have been presented, according to a statement issued by the company. Among the winners at this year’s Abha Festival, Raed Ibrahim Nasrallah, a doctor from Jordan and new to the Kingdom, said he had never won anything in his life. Hearing his name being read out as a winner of one of the 10 cars left him speechless. “I cannot begin to describe how I felt at that moment,” Nasrallah said. Hussein Al-Qurbi, from Yemen, said his two-year-old daughter’s winning added to his family’s feeling she had blessed the family with her birth.
ABC reports $15.7m profit
MANAMA: ABC Islamic Bank reported a net profit of 15.7 million for the first half of this year. This was an increase of 72.8 percent over the net profit for the comparable period last year.
— Compiled by Arab News
