Page 4 - Al-Rashed Newsletter August 2022

KUWAIT NEWS
DID YOU KNOW?
"Strengths" is the longest word in
the English language with one
vowel.
Your liver's size fluctuates
significantly throughout the day.
It only takes six minutes for alcohol materials, as it also extended to packaging and processing items. He pointed
to affect your brain
Kuwait ranks fourth in MENA in average monthly salaries
According to a recent list published by US magazine CEO World, Kuwait
ranks fourth among Arab countries and 26th globally in average monthly
salaries, where the average net monthly salary in Kuwait amounts to
$1854.45 or KD 570.140. Five Gulf countries occupied the top positions in
Middle East and North Africa in average net monthly salaries. The UAE
topped the list of Arab countries and ranked fifth globally, to be the only
country regionally among the top 10 countries on the list. The value of
average net monthly salaries in the UAE, according to the list, amounted to
$3663.27, while Qatar came in second place among Arab countries and 11th
globally with an average monthly salary of $3168.05, followed by Saudi
Arabia in third place and 25th globally with an average salary of $1,888.68,
then Kuwait, followed by Bahrain, which ranked 28th globally with an average
salary of $1,728.74 and in sixth place among Arab countries, and finally
Oman in the 30th spot globally with an average monthly salary of $1,626.64.
According to CEO World, Egypt has the lowest average of salaries
among Arab countries and ranked 100th globally with an average salary of
$219.73, preceded by Algeria in 98th place with $249.67 and Tunisia in the
96th spot with an average salary of $277.44.
https://www.kuwaittimes.com/kuwait-ranks-fourth-in-mena-in-average-monthly-salaries/
Eateries in Kuwait facing revenues ‘loss’
Kuwait Federation of Restaurants, Cafès and Catering Services Chairperson
Fahd Al-Arbash said the revenues of the sector has decreased by 40 percent
compared to its earnings in June when it incurred millions of losses, reports Al-
Anba daily. In a statement to the daily, Al-Arbash revealed that the sector is
facing certain challenges; foremost of which is the rising prices of raw materials
used in operational processes like oil, butter, chicken, rice, cheese, chocolate
and others.
He added there has been 100 percent increase in the prices of some items,
prompting many restaurant owners to procure primary products on credit. He
warned that lack of control over the prices will further increase the losses of
restaurants. He added the increase in operating costs is not limited to raw
out that plastic and paper used for packaging purposes constitute 30 percent of
the expenses of restaurants; thereby, exacerbating the suffering of restaurant
owners. He cited the summer season as one of the factors leading to the decline
in revenues of restaurants; many of which incurred huge losses due to the low
turnout of customers during summer, as it coincides with the travel season –
when a large number of citizens and expatriates are outside the country.
https://www.arabtimesonline.com/news/eateries-in-kuwait-facing-revenues-loss/