Business


Al Muzaini Exchange Company is the leading money exchange company with more than 80 years of experience in Kuwait takes immense pleasure in announcing the launch of its new service, “Foreign Currency delivery service”.
Understanding that the customer’s time is extremely valuable and precious, customers can now order foreign currency bank notes easily and conveniently, either online or via the Al Muzaini application. One can simply select their preferred foreign currency and choose the time slot wherein they want to receive the order and it will be delivered to their doorstep safely and securely within hours.
Al Muzaini Exchange constantly works on bringing new, innovative and unique services to its valued customers to ensure that they always receive the best possible customer experience.
Al Muzaini, always near you.


Oil prices rose in early trade on Wednesday after industry data showed United States crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil.
Brent crude futures gained 25 cents, or 0.3 per cent, to $88.61 a barrel at 0101 GMT, while US West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4pc, to $81.30 a barrel.
Both benchmark contracts rose about 1pc in the previous session as the United Arab Emirates, Kuwait, Iraq and Algeria reinforced comments from Saudi Arabia’s energy minister that the Organisation of the Petroleum Exporting Countries (Opec) and allies, together called Opec+, were not considering boosting oil output. Opec+ next meets to review output on Dec 4.
Uncertainty over how Russia will respond to plans by the Group of Seven (G7) nations to cap Russian oil prices further supported the market, analysts said.
The price cap, yet to be announced but due to be in place from Dec 5, will probably be adjusted a few times a year, a senior US Treasury official said on Tuesday.
“Traders closely monitor Russia’s exports and will look for how much they might trim the nation’s foreign sales in retaliation, which could be a bullish fillip for oil prices,” SPI Asset Management managing partner Stephen Innes said in a note to clients.
Buoying prices on Wednesday, US crude inventories fell by about 4.8 million barrels for the week ended Nov 18, data from the American Petroleum Institute showed, according to market sources.
Analysts polled by Reuters on average had expected a 1.1m barrel drawdown in crude inventories.
However, on a bearish note, API data showed distillate stocks, which include heating oil and jet fuel, rose by about 1.1m barrels compared with analysts’ expectations for a drop of 600,000 barrels.


LONDON: The fifteenth edition of the World Branding Awards saw over 3,500 brands from more than 45 countries named as “Brand of the Year”. Of these, less than 250 were declared Winners. The awards ceremony welcomed over 100 guests from around the world to celebrate the success and achievements of some of the World’s Best Brands, at the home of the awards, Kensington Palace.
Lurpak, Club Med, Yakult, Spotify, CoCo, Ikea, Amazon, Netflix, Neutrogena, Lego, Cadbury, Johnnie Walker, Ferrari, and Hennessy were announced as Global Winners at the prestigious awards ceremony.



Winners from Kuwait include GIG, Mabanee, The Avenues, Aqua Gulf, Q8. Other National Tier winners include Nahdi (Saudi Arabia), Lulu Exchange (UAE), Haribo (Germany), Toyota (Indonesia), Sprite (Kenya), Axe Brand (Singapore), Sparco (Italy), Just Eat (UK) just to name a few.
Just 17 brands were selected to receive the Regional Tier award this year; Bosch, Media Markt, Sennheiser, SoundCloud, Al Abraaj Restaurants, Huawei, Carrefour, Optical 88, MR. D.I.Y., Elkjøp, Aramax, BreadTalk, Naturgy, H&M, Walrus Pump, Gems Pavilion, and CBRE. These brands were voted as the consumers favourite brand in 4 or more countries across 3 or more areas in a specific geographic region.
“The ceremony is a celebration of some of the best brands from across the globe. The Awards acknowledge the tireless effort put in by the brand's teams that build and maintain presence in an ever-evolving market” said Mr Danny Pek, Executive Director, World Branding Forum.
“This year over 150,000 consumers participated in the nomination process globally. On average there are only 5 winning brands in each country, further proving that winning a World Branding Award is indeed, a remarkable achievement” said Mr Richard Rowles, Chairman of the World Branding Forum.
The event was hosted by renowned television presenter, Jemma Forte and featured an exclusive insight into the future consumer provided by Chris Sanderson, Co-Founder of 'The Future Laboratory' the renowned consumer insights and trend forecasting consultancy.
For more information and the full list of winners, visit awards.brandingforum.org.


The MEA Proptech Summit is set to take place on November 21-22 at the Four Seasons Hotel, Bahrain Bay. The summit is organized by Cityscape, in partnership with the Real Estate Regulatory Authority (RERA) Bahrain and ME Proptech Initiative.
High-level dignitaries that will be speaking amongst more than 30 industry leaders from the Proptech and real estate space at the event, include President of the SLRB and Chairman of the Board of Directors of RERA, H.E. Shaikh Salman bin Abdulla bin Hamad Al Khalifa, and RERA’s CEO H.E. Shaikh Mohammed bin Khalifa Al Khalifa.
The summit will gather over 400 attendees that will provide a networking ground for companies, executives, and business leaders to build and foster long-term business partnerships. Some of the key sessions during the summit include how technology is changing the real estate landscape, transforming urban spaces through Transit Oriented Development models, igniting a tech revolution in real estate, and global proptech trends.
RERA’s CEO, Sheikh Mohammed bin Khalifa Al Khalifa, said “In line with the vision of His Majesty King Hamad bin Isa Al Khalifa to revive the real estate sector in the country, and with the support of its Board of Directors, RERA is working to achieve strategic goals, plans, and programs that are congruent with that vision, and in a manner that reflects positively on citizens and amplifies its returns and contributions to the Kingdom’s economy.”
The CEO added, “These aspirations are realized through the implementation of the priorities of the government, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, including the implementation of the first pillar of the National Real Estate Plan 2021-2024”
He also stressed the importance of hosting Middle East and Africa’s first "Proptech" Summit in the Kingdom of Bahrain, which brings together experts from all over the world to discover the latest developments in the field of real estate technology and meet prominent investors and experts in the real estate field.
For their part, local and global official expressed their eagerness to be taking part in the summit .The CEO of Edamah, Amin Alarreyed, said: “We are entering an era where the real estate landscape is being shaped through digital breakthroughs and innovations, and this requires new thinking and approaches. This Summit presents a unique opportunity for PropTech companies to unlock their potential, as it puts the focus on global trends and examines how to integrate solutions that meet developers’ expectations. We are happy to be a part of this event and look forward to a rewarding experience with our peers.”
Russell Pedley, Director & Co-Founder, Assael Architecture, said: “I’m looking forward to speaking at the summit where I will exchange thoughts and ideas about design solutions to transport-orientated development that creates vibrant and sustainable places to live. The summit will be a great networking ground to interact with regional and global real estate and proptech experts.”


Al Muzaini Exchange, the leading money exchange company in Kuwait, with over 125 branches at various strategic locations recently participated as the Platinum sponsor of IEAS Expressions 2022, in association with IIK on Saturday, November 12th held at the Indian English Academy School, Kuwait.


More than 2500 students from over 20 schools participated in the mega inter-school event. Al Muzaini recognized the need to show appreciation to the students for their incredible efforts during the program and decided to reward them with a student laptop.


Fr Derrick, the Director of IEAS expressed his gratitude towards Al Muzaini for their generosity and for the company’s wonderful initiative of rewarding the efforts of the youth in the community.


Indian Public School Kuwait’s Shaik Nassar, studying in Grade 9 was announced as the winner. The Principal of IEAS, Fr Bosco alongside the marketing representative from Al Muzaini, Mr. Trevin Cutinho handed over the laptop to the excited winner.


Shaik and his family were immensely happy and thanked Al Muzaini for motivating and supporting students and for encouraging them to work hard and achieve greatness.


Al Muzaini Exchange Co., the platinum sponsor of Xpressions, 2022 encourages students of every school to express themselves to the best of their capabilities and to realize their potential and fulfill their ambitions. Al Muzaini always aims to be an integral part of the community, to promote and support growth and to nurture relationships.
Al Muzaini, always near you!


Oil prices rose in early trade on Wednesday after industry data showed a surprise drop in United States crude stockpiles, suggesting demand is holding up despite steep interest rate hikes dampening global growth.
Brent crude futures picked up 17 cents, or 0.1 per cent, to $94.82 a barrel at 0014 GMT, while US West Texas Intermediate (WTI) crude futures rose 26 cents, or 0.3pc, to $88.63 a barrel.
Both benchmark contracts rose about 2pc in the previous session on a weaker US dollar and after an unverified note trending on social media said the Chinese government was going to consider ways to relax Covid rules from March 2023.
In a further positive sign for demand, data on Tuesday from the American Petroleum Institute showed crude stocks fell by about 6.5 million barrels for the week ended Oct 28, according to market sources.
Eight analysts polled by Reuters had on average expected crude inventories to rise by 400,000 barrels.
At the same time, gasoline inventories fell more than expected, with stockpiles down by 2.6m barrels compared with analysts’ forecasts for a drawdown of 1.4m barrels.
China’s zero-Covid policy has been a key factor in keeping a lid on oil prices as repeated lockdowns have slowed growth and pared oil demand in the world’s second-largest economy.
“Potential changes to China’s Covid-19 policy could have significant implications for oil demand,” ANZ Research analysts said in a note.


Al Muzaini Company, the leading exchange company in Kuwait with more than 80 years of experience within the industry is proud to announce the latest opening of its 125th branch in Shuwaikh, Kuwait on Tuesday, 18th of October 2022 by members of Al Muzaini’s Management along with some of the company’s valued customers.
Mr. Hugh Fernandes, the General Manager of Al Muzaini Company said: “We are extremely delighted to introduce our latest branch opening in Shuwaikh. Our commitment is always towards delivering a great customer experience each and every time and opening our latest branch is another step in the right direction. We always want to provide the best experience for each and every customer, be it through new branch openings, through launching new services, through promotional campaigns and tie-ups or by continuously upgrading our mobile application to accommodate various new features. Customers convenience is our priority.”
Al Muzaini Company, always near you!

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