Schools set to distribute student shareholders’ profits to canteens

KUWAIT CITY, Sept 22: A number of schools have finished working on preparing and processing the profits of the students who contribute to the school canteen, reports Al-Anba daily.

According to educational sources, a number of schools have calculated the profits of the students participating in the school canteens for the first semester of last year. An amount has been allocated to each student participating in the canteen after reviewing the amounts of profits and verifying them.

The schools themselves prepared the sums and placed them in envelopes at the Student Affairs Department in preparation for distribution to the student shareholders.

They expressed their gratitude and appreciation to the school administrations for performing their work honestly and sincerely.

KD 20m pumped into fund: Kuwait Investment Authority few days ago pumped 20 million dinars into the National Fund for Small and Medium Enterprises Development and Care to cover the requirements of late payments for the projects of entrepreneurs that were approved earlier, reports Al-Qabas daily.

Sources said the sum transferred by the authority barely covers 25 percent of late payments to entrepreneurs summing up to 80 million dinars, indicating the sum was disbursed within two days only. They indicated the fund is still in need of additional 60 million dinars, in order to pay the remaining payments owed to entrepreneurs who have stopped their projects due to the depletion of their liquidity, expecting the authority will provide the fund with additional liquidity over the next few weeks, which is also expected to be about 20 million dinars.

The same sources added the task of managing the fund has now been entrusted to the Deputy Director General for Finance and Investment Adel Al-Hasawi after accepting the resignation of the fund’s Director General Manaf Al-Munafi.