Friday , November 24 2017

Business

Non-oil growth pegged at 0.8% in 2017, 1.1% next

More than three years into the oil price downturn and the Saudi economy continues grapple with subdued domestic demand, lower consumer confidence and the effects of the pullback in government spending. Energy and utility subsidies have been curtailed, taxes have been introduced, public sector bonuses have been frozen (though now …

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Kuwait stocks end lower as telecom & real estate drop – Ooredoo plunges 28 fils, IPG spikes 8.75%

KUWAIT CITY, Oct 15: Kuwait stocks closed slightly lower on Sunday as a sharp decline in telecom and real estate shares offset gains in technology and oil & gas sectors. The main index fell 6.24 points in a lackluster trade to close at 6,622.3 points. The KSX-15 benchmark was down …

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Kuwait success in economic, financial reforms: IMF

Changes cap phase one WASHINGTON, Oct 14, (KUNA): Kuwait has been successful in implementing the first phase of its economic and financial reforms, which are set to balance and develop the economy of the country, Jihad Azour, the International Monetary Fund’s (IMF) Director of the Middle East and Central Asia …

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KFH awarded ‘Best Islamic Project Finance Provider in the World 2017’ – KT Bank named ‘Best Up-And-Coming Financial Institution in the World 2017’ by Global Finance

KUWAIT CITY, Oct 14: Global Finance Magazine has awarded Kuwait Finance House (KFH) the “Best Islamic Project Finance Provider in the World 2017”, while “Best Up-And-Coming Financial Institution in the World 2017” for KT Bank AG, KFH’s bank in Germany. KFH-Group CEO Mazin Saad Al-Nahedh received the awards in an …

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Alghanim Industries sponsors Tmkeen Youth Symposium – Strategic sponsorship for second year in a row in support of entrepreneurship

KUWAIT CITY, Oct 14: Alghanim Industries, one of the largest privately owned companies in the region, announced its strategic sponsorship of the 6th annual Tmkeen Youth Symposium, which will be held under the patronage of the Amir, HH Sheikh Sabah Al Ahmad Al Jaber Al Sabah, on Oct 23 to …

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OPEC begging shale oil producers for help! – New Saudi-Russia alliance seems best for market stability

Last week out of the blue, OPEC’s secretary general openly asked US shale oil producers to help the oil organization by coordinating and assisting the oil group in stabilizing the oil prices by managing their production throughputs. Such a surprise call from OPEC shows that the organization is desperately making …

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Wendy’s Middle East takes 3 awards – Annual Global Convention

KUWAIT CITY, Oct 11: Wendy’s Middle East was recognized with three prestigious awards at the annual Global Wendy’s Convention, held in Las Vegas, Nevada last month. The Convention brings together all system franchisees every other year. Wendy’s Middle East, operated by Alghanim Industries, one of the largest privately-owned companies in …

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Indian traders choking on Modi’s economic medicine – ‘Modinomics’ has been a bitter pill to swallow

LUDHIANA, India, Oct 11, (AFP): Tax overhauls and black market clampdowns have been touted as radical medicine to modernise India’s economy, but for small traders like Swarn Singh Darera, “Modinomics” has been a bitter pill to swallow. At his factory in the northern Punjab city of Ludhiana, Sikh businessman Darera …

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Kuwait’s index buoyed by surge in oil and gas shares – NAPESCO spikes 63 fils; Ooredoo up 9 fils

KUWAIT CITY, Oct 11: Kuwait’s stocks rebounded on Wednesday to halt a three-day slide, buoyed by surge in oil and gas shares. The price index rose 12.9 points in a lackluster trade to close at 6,626.12 points with mixed boards The KSX-15 benchmark fell 5.24 points to 1,004.77 points while …

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KPC sponsors 3rd KOGS show, confab

Kuwait, Japanese businessmen panel holds 21st meeting KUWAIT CITY, Oct 11, (KUNA): Kuwait Petroleum Corporation (KPC) announced Wednesday that it would be sponsoring the 3rd Kuwait Oil and Gas Show and Conference (KOGS 2017), which is organized by the Society of Petroleum Engineers on Oct 15-18, 2017 under the patronage …

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