National Bank of Kuwait, the emirate's largest lender, on Thursday reported a 39.5 percent slide in second quarter net profit as the bank took huge provisions, a statement said.

NBK's profit in the first half of the current year also dropped 17.7 percent as the bank cited "a challenging operating environment and weakening outlook."

The Kuwaiti opposition pressed for a multi-party system as part of a host of political and constitutional reforms to achieve a full parliamentary system and an elected government.

In a joint statement issued Monday night and titled a "declaration to the nation," the Islamist and nationalist opposition also called for legalizing political parties, reforming the judiciary and fighting corruption.

Kuwait's Zain telecom said Sunday its Iraqi unit has been fined $12,877 a day since September 1 for failing to list on the bourse but will seek to have the penalty that has reached $4 million scrapped.

"Iraq Zain has received a notification from the Communications and Media Commission stipulating a fine of $12,887 a day for delaying the listing of the company on Iraq Stock Exchange," Zain said in a statement.

Kuwait Airways Corp. has decided to ground several ageing planes for repeated malfunctions, KAC chief Salem al-Othaina was quoted as saying in report on Sunday.

Othaina told Al-Rai newspaper that "initially three to five planes" would be grounded this week "in prelude to take new decisions to ground further aircraft."

The ruler of the Gulf state of Kuwait on Thursday asked outgoing Prime Minister Sheikh Jaber Mubarak al-Sabah to form a new cabinet, the official KUNA news agency reported citing a decree.

Sheikh Jaber, a senior member of the ruling al-Sabah family, resigned last week days after the constitutional court nullified February legislative polls, scrapping the opposition-controlled parliament.

Two Kuwaiti liberal groups called on Wednesday for key reforms including legalizing political parties and establishing an electoral commission as a prelude to adopting a full parliamentary system.

The Kuwait Democratic Forum and National Democratic Alliance, which have six MPs in the 50-member parliament, said such reforms are essential to resolve lingering political disputes in the oil-rich Gulf state.

Prime Minister Najib Miqati discussed on Wednesday with Saudi Ambassador Ali Awadh Asiri his country’s travel restriction advisory to Lebanon.

“The cabinet is taking all the necessary measures to maintain security and stability in Lebanon,” Miqati told Asiri.

The Syrian Revolution General Commission (SRGC) has pulled out of an opposition conference in Cairo, citing political "disputes," a statement said on Tuesday.

The two-day conference opened on Monday in the Egyptian capital, under the auspices of the Arab League, to forge a common vision for a transition in the country after a blueprint was adopted by world powers on the weekend.

The Saudi foreign ministry issued on Monday a travel restriction advisory to Lebanon, the official SPA news agency said.

“Due to the unstable security situation in Lebanon, the foreign ministry warns its citizens against traveling to Lebanon to maintain their safety, until further notice,” an unidentified high-ranking official in the ministry told the news agency.

Kuwait's Emir Sheikh Sabah al-Ahmed Al-Sabah on Sunday issued a decree accepting the resignation of the oil-rich Gulf state's cabinet, the official KUNA news agency reported.

The ruler also asked outgoing Prime Minister Sheikh Jaber Mubarak al-Sabah and other ministers to continue as a caretaker government until a new cabinet is formed.