Latest news with #KD25
Arab Times
19-06-2025
- Business
- Arab Times
Ad fee hike faces pushback
KUWAIT CITY, June 19: The Legal and Financial Affairs Committee at the Municipal Council, chaired by Fahad Al-Abduljader, held its meeting Wednesday; during which it agreed on the referral of two items on its agenda to the executive body as follows: - Letter of Vice Chairman of the council Khaled Al-Mutairi and members Walid Al-Dagher, Fahd Al-Abduljader, Nasser Al-Jadaan and Nassar Al-Azmi regarding the removal of violations on sports club walls; - Review of licenses for shops and investment projects to verify the implementation of approved terms and conditions, to provide the committee with reports for each governorate. The committee also proposed amending advertising license fees to prepare a detailed report in this regard. It is worth noting that the proposal was submitted by a company specializing in advertising and publicity. This company owns and operates outdoor advertising spaces, including screens, facades, and glass sides. Given the varying sizes of these media -- from large to small screens -- the company's business was negatively impacted by the advertising license fees stipulated in Advertising Regulation No. 599/2023. The amendments increased advertising screen license fees from KD36 to KD75 per meter. Furthermore, the fees for glass facades and sides were increased from KD25 to KD50 per meter, thereby affecting the cost of selling advertisements on these media. In its letter to the committee, the company indicated that the increase stipulated in the new advertising regulations was implemented without taking into consideration the screen size; hence, the significant impact on large screens. The company stated that its demand to review the fees for billboards, facades and glass sides stipulated in the advertising regulations stems from its commitment to improve the investment environment to serve all stakeholders.
Arab Times
12-02-2025
- Business
- Arab Times
Gold prices go wild as KD 30 per gram looms
KUWAIT CITY, Feb 12: Experts predict that the rise in global gold prices will continue, with the price of an ounce expected to increase from $2,877 to $3,000. This will likely drive the price of a gram of 21-karat gold in Kuwait to KD 30 by March, after surpassing KD25 in recent sales. Experts attribute the price increase to various factors; including US President Donald Trump's controversial statements regarding taxes, his threat to the head of the US Federal Reserve, central banks increasing gold reserves as a precaution against economic instability, and the ongoing Russia- Ukraine war. Gold trader Anwar Abdul Rab noted that gold prices have risen unexpectedly this year. Larger gold shops that hold significant quantities are seeing substantial profits, while smaller shops are struggling due to market stagnation. Meanwhile, gold purchases have increased by 20 percent over the past two months despite rising prices. Mohammed Zahid, another trader, explained that many consumers are buying gold cautiously, purchasing smaller pieces out of fear of further price hikes; while others are buying larger amounts either as an investment or for upcoming events like engagements or weddings. Hussein Fouad, a gold shop official, emphasized the key factors driving the price rise, such as central banks, particularly China's, buying vast amounts of gold. He also pointed out that ongoing geopolitical tensions, including the Palestinian-Israeli conflict and the Russia-Ukraine crisis, are exacerbating the situation; making it unlikely that gold prices will return to earlier levels. Gold jewelry expert Hamad Al- Hajri explained that the increase in gold prices began with inflation rates rising globally and the disruption of global trade during the COVID-19 pandemic. The onset of the Russia-Ukraine war, along with sanctions on Russian oil and central bank assets, further fueled the surge in prices. He anticipates that gold prices may peak by mid-year but could decline by around percent by year's end. Currently, the Kuwaiti gold market is seeing cautious consumer activity, with many potential buyers hesitant due to high prices. Some are turning to used or broken gold to lower costs, as the workmanship on new gold pieces can add an additional KD 1 to KD 3 per gram, depending on quality.
