Monday , February 19 2018


VAT may delay over year

KUWAIT CITY, Feb 18: “Kuwait, Qatar, Bahrain and Oman will need more time than expected for implementing the GCC agreement to introduce Value Added Tax, even though Saudi Arabia and the United Arab Emirates have already implemented the tax”, says the Deputy Director of Financial Affairs Department at International Monetary …

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Police arrest three in PNB fraud case

NEW DELHI, Feb 17, (RTRS): India’s federal police arrested two employees at Punjab National Bank believed to be at the centre of a staggering $1.77 billion fraud, a police source said on Saturday, in the first arrests so far in the country’s biggest-ever bank scam. The arrests late on Friday …

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Prices slip on expectations of surging US shale

The positive momentum that propelled oil prices to four year highs appears to have slipped since the start of the month. A combination of bearish oil data out of the US showing crude stocks building for the second week in a row and US crude production breaking through the symbolic …

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Kuwait Ports Authority tells KGL to evacuate

KUWAIT CITY, Feb 17: The Director-General of the Kuwait Ports Authority (KPA), Sheikh Yousef Al-Abdullah Al-Sabah, said the Kuwait & Gulf Link Transport Co (KGL) has been notified to evacuate 270,000 square-meters of land at Doha Port which is under dispute and is seen land stolen from the government, reports …

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GOFSCO hails sponsorship of ‘Maker Faire Kuwait 2018’ – Move reinforces its corporate social responsibility strategy of supporting young makers

KUWAIT CITY, Feb 14: Gas & Oil fields services company (GOFSCO), one of the largest integrated service providers in Kuwait specializing in the upstream oil and gas sector, both onshore and offshore, recently hailed a successful silver sponsorship of the renowned ‘Maker Faire Kuwait 2018’ which was held under the …

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KFH bags 28 international renowned awards in 2017 – Awards culminate KFH-Group outstanding performance in all fields

KUWAIT CITY, Feb 13: Kuwait Finance House (KFH) continued its outstanding performance in all indicators and bagged 28 international renowned awards in 2017 at the Group level from prestigious international institutions. The awards were in recognition of the Bank’s distinguished performance in all fields, prestigious status and leading Islamic financial …

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World growth raised to 3.9%; US inflation on the rise

The broad-based global economic recovery gained further steam, including in the US, where the inflation narrative appeared to shift toward a more hawkish scenario. After months of solid data, the IMF raised its 2017 growth estimate for the world economy to 3.7% and upgraded its forecast for 2018 and 2019 …

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