Thursday , February 22 2018

Business

Kuwait after recession, returns as best performing market in the Gulf

306,030 people work in public sector: CSC KUWAIT CITY, Jan 2: A report from the research unit of Kuwait Financial Center — Markaz indicates that Kuwait, after the recession period in the Kuwaiti financial market, has returned in the forefront as the best performing market in the Gulf region, achieving …

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Saudi Arabia, UAE implement VAT -Kuwait awaits Assembly nod … may wait until 2019

DUBAI, Jan 1, (Agencies): Saudi Arabia and the United Arab Emirates introduced value- added tax from Monday, a first for the Gulf which has long prided itself on its tax-free, cradle- to-grave welfare system. Saudi Arabia compounded the New Year blow for motorists with an unannounced hike of up to …

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Low-income expats squeezed out – Local banks ‘toughen’ their credit conditions

KUWAIT CITY, Dec 30: Several local banks in recent months have toughened their credit conditions, especially for personal loans. The daily quoting sources added some banks doubled the value of minimum salary for obtaining loans and now accept applicants earning no less than KD 800 monthly. Other banks have set …

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Shell gas supply deal with Kuwait

Deal raises many questions concerning free gas discovered in 2005 Independent Oil Analyst Last week, Shell announced that it has reached a long-term agreement with Kuwait Petroleum Corporation (KPC) for the supply of Liquefied Natural Gas (LNG) for 15 years starting from 2018. As per the agreement , Shell will …

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Stock exchange tri-market classification in-line with Kuwait’s ambitions: experts

Move seen ‘crucial’ KUWAIT CITY, Dec 30, (KUNA): Plans to introduce primary, secondary and auction markets to Boursa Kuwait will bring the national stock exchange up to par with emerging markets amid Kuwait’s plans to become a regional financial hub, experts said. The new classifications, based on liquidity, market value, …

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KIPCO ‘issues’ 7-year KD bond

DUBAI, Dec 28, (RTRS): Kuwait Projects Co (KIPCO), the Gulf state’s largest listed investment company, has completed a KD 100 million ($331 million) seven-year bond issue, it said on Thursday Corporate bonds in Kuwait are typically shorter-dated issues, but KIPCO said its sevenyear bond will leave it without any debt …

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‘Omniya’ deal signed – Students install solar lights

KUWAIT CITY, Dec 28: The environmental project titled “Omniya” has signed an agreement of cooperation partnership with the Higher Institute of Energy, reports Al-Anba daily. Based on this project, students from the institute installed a lighting system in Adaliya area. This system works on solar energy and has motion sensors. …

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Kuwait export of non-oil products dropped by 20 pc in Nov: statistics

KUWAIT CITY, Dec 28: Recent statistics released by the Ministry of Commerce and Industry showed that Kuwait’s export of non-oil products dropped by 20 percent in November compared with the annual growth of the sector, reports Al-Rai daily . According to the report, the total exports reached KD 8 million …

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Kuwait MP urges Arabs to ‘modify’ investment laws to lure businesses

Iraq PM hails Kuwaiti decision to host donor conference CAIRO, Dec 27, (KUNA): A Kuwaiti lawmaker on Tuesday urged Arab states to modify investment laws to lure businesses and called for action to prevent terrorists from attaining financial resources. Khaled Al-Otaibi, a member of the National Assembly and the Arab …

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‘Shell Company to supply Kuwait with LNG for 15 years starting ’20’

PAI to probe, review salaries of its senior officials KUWAIT CITY, Dec 26: Deputy Director of International Marketing Department at Kuwait National Petroleum Corporation (KNPC) Sheikh Khalid Al-Sabah disclosed that KNPC has signed an agreement with Shell Company for supplying Kuwait with liquefied natural gas (LNG) for 15 years starting …

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