Business

India’s Jet Airways to buy 75 Boeing jets in multi-billion dollar order

Mumbai, April 4, 2018 (AFP) -Indian airline Jet Airways has entered an agreement to buy 75 Boeing 737 MAX aircraft in a deal that could be worth more than $7 billion. The country’s second-largest airline made the announcement to the Mumbai stock exchange late Tuesday. The company did not specify …

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Oil to solar: Saudis push to be renewable energy powerhouse – Kingdom aims to produce up to 200 gigawatts of power by 2030

AL UYAYNA, Saudi Arabia, April 3, (AFP): Saudi engineers whip up a simulated sandstorm to test a solar panel’s durability at a research lab, the heart of the oil-rich kingdom’s multibillion dollar quest to be a renewable energy powerhouse. The world’s top exporter of crude seems an unlikely champion of …

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IDB launches $50 million ‘innovation fund’ By Khaled Jabbar

TUNIS, April 3, (KUNA): The Islamic Development Bank (IDB) launched on Tuesday a $500 million “innovation fund” for funding scientific and technological inventions throughout the globe. This came at a ceremony held on margins of the annual meetings of the IDB Group, which kicked off in Tunisia on Sunday, as …

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Kuwait GDP seen to grow

KUWAIT CITY, April 3: A new forecast by the Business Monitor International (BMI) Research says Kuwait’s real GDP in 2018 will grow following a contraction in 2017, reports arabianbusiness.com The BMI in its report said the oil production will do little to support the growth in the short-term, given the …

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Upgrading infrastructure of bourse priority for solid market: Al-Khaled – ‘New system seeks to boost transparency and disclosure’

KUWAIT CITY, April 2, (KUNA): Modernizing the infrastructure of Boursa Kuwait (the Kuwaiti stock exchange) in line with the international criteria is a priority for building a strong, transparent, and fair capital market serving all investment assets related to securities. Boursa Kuwait Company CEO Khaled Al-Khaled made the statement in …

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Kuwaiti official predicts oil prices near $70 per barrel – OPEC deal to cut output cited

KUWAIT CITY, April 2, (KUNA): The acting undersecretary of Kuwait’s Ministry of Oil Sheikh Talal Al-Sabah has foreboded that the price of a barrel of oil in the global market could hit $70, citing a “historic” OPEC deal to limit output. Speaking to the press as the ministry unveiled its …

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Market shake-up deepens in Kuwait in a move to attract stock investors – Boursa Kuwait announces second phase of market development

KUWAIT CITY, April 1: Boursa Kuwait announces that the second phase of market development, which encompasses transformational changes such as a three-tiered, segmented market, the introduction of new market-capitalized indices and circuit breakers on securities and indices to curb volatility, as well as entirely new listing requirements has begun on …

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AUB AGM approves cash dividend of 13 fils – Bank gives nod to bonus shares of 5%; AGM held with 92.851% attendance

KUWAIT CITY, April 1: Chairman of Ahli United Bank, Dr  Anwar Al Mudhaf assured that “In 2017, Ahli United Bank has witnessed a 10.4% growth in net profits which reached KD 44.5 million (2016: KD 40.3 million) thanks to the strengthening of our core earnings, achieving a net finance income …

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Iraq to award new oil contracts on April 15

BAGHDAD, April 1 (Reuters) – Iraq plans to award oil and gas exploration and development contracts in 11 new blocks on April 15, oil ministry spokemsan Asim Jihad said on Sunday. Bidding documents will be made available to oil companies planning to make offers on April 13, he told Reuters. …

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ALSAYER honors team efforts towards better customer satisfaction – Company advances focus on customer service one by one

KUWAIT CITY, March 31: ALSAYER Holding, one of the leading conglomerates in the region recently held an event to honor outstanding customer service efforts across its non-trading and trading business units including Mohamed Naser ALSAYER for Toyota and Lexus Sales Service and Parts Division, Bahrah Trading Company for HINO, Bobcat, …

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