Friday , December 14 2018

Business

EQUATE completes amendment & extension exercise on its facilities

Dawood Al-Abduljalil, EQUATE CFO KUWAIT CITY, Dec 13: The EQUATE Group, a global producer of petrochemicals, announced the successful completion of an amendment and extension exercise on its $1.9 billion Term Loan and $1 billion Revolving Credit Facility (“RCF”). The Group worked with its existing relationship banks to extend the …

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Move to privatize projects

KUWAIT CITY, Dec 13: The Privatization Committee of the Ministry of Electricity and Water that is authorized to execute the procedures for the privatization of the two projects in northern Shuaiba station and the main plants in Sabhan finished putting the terms of reference for contracting with the global consultant …

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1.6 million shares being traded

OTC sees 33 deals in five weekly sessions KUWAIT CITY, Dec 13, (KUNA): Kuwait’s Over the Counter Market (OTC) has witnessed the trading of 1.6 million shares worth KD 86.6 ($ 285.87) through 33 transactions during five sessions this week. Around two million shares of 18 companies were traded at …

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Kuwait-Saudi in talks on possible oil ‘re-production’ in neutral zone

Oil prices hike boosts Arab production growth KUWAIT CITY, Dec 13, (Agencies): Minister of Oil, Minister of Electricity and Water Engineer Bakheet Al- Rasheedi and Chief Executive Officer of the Kuwait Petroleum Corporation (KPC) Nizar Al-Adasani arrived in Saudi Arabia in an announced visit and is likely to give a …

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Gulf Bank’s Al-Ali becomes first Kuwaiti AGM to lecture at IBS

Lecture aligns with bank’s policy of investing in staff expertise Bader Ali, Assistant General Manager – Operations presenting his lecture at Kuwait Institute of Banking Studies KUWAIT CITY, Dec 12: Gulf Bank is proud to announce its participation in a training workshop organized by the Kuwait Institute of Banking Studies, …

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KPMG organizes KPMG MESA Tax Conference

Confab addresses impact of emerging tax regulations Photo from the event DUBAI/KUWAIT CITY, Dec 12: Recent developments in the local, regional and global tax environment, including a growing focus on transparency and technological demands, are putting pressure on organizations to adapt to new norms. Against this backdrop, KPMG held the …

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Fifty loans worth $3.4 b granted to Egypt since 1964, says KFAED

Al-Ahram second energy confab concludes CAIRO, Dec 12, (KUNA): Fifty loans worth $3.4 billion had been signed with Egypt since 1964, Kuwait Fund for Arab Economic Development (KFAED) said Wednesday. “Projects of more than 30 of those loans were fully executed; with the first being the Suez Canal development project, …

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Increase in oil prices boosts Arab production growth to $2.7 trillion

Hike expected to continue at a rate of 3.9 pc to reach $2.8 trln in ’19 KUWAIT CITY, Dec 12, (KUNA): The oil prices hike boosted the expectations of acceleration in Gross Domestic Product (GDP) growth in the Arab region at an average rate of 2.8 percent to reach USD …

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Kuwait Oil Company opens its pre-qualification stage

KOC adopts new stringent regulations KUWAIT CITY, Dec 11: The Kuwait Oil Company (KOC) last week opened the pre-qualification stage for a large group of the company’s business categories in the country’s oil fields, reports Al-Anba daily quoting responsible oil sources. In this regard, the company has set a number …

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KFAED, Argentina ink loan and guarantee agreement

Fund to finance Cordoba project Minister of Finance Dr Nayef Al-Hajraf during a meeting with the Minister of Foreign Affairs of Argentina Jorge Faurie. KUWAIT CITY, Dec 11: A loan agreement was signed on Tuesday in Kuwait City between the Government of the Province of Cordoba and the Kuwait Fund …

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