Saturday , August 18 2018

Business

Kuwait exports first light crude cargo

DUBAI, July 2, (RTRS): Kuwait Petroleum Corporation (KPC) has exported its first-ever light crude cargo on Monday, Kuwait’s oil minister Bakhit al-Rashidi said. The new grade will put Kuwait among those countries producing high quality light crude which is in high demand in international markets, the minister, who is also …

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New ‘bank cards’ eyed to safeguard customers

‘Visa’, ‘MasterCard’ to be exchanged KUWAIT CITY, July 2: There is a banking tendency to cancel the Visa and MasterCard cards, which are old, specifically that do not require the use of a secret number, reports Al-Rai daily. Sources at the bank pointed out banks are preparing to stop the …

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KFAED grants loans amounting to KD 1.26b

KUWAIT CITY, July 1: Kuwait Fund for Arab Economic Development has granted loans amounting to KD 1.26 billion ($4.2 billion) in last five years; including KD 167,000 — 12 percent of the total – in the form of grants and technical assistance, reports Al-Qabas daily. This is in response to …

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PBC opens mango fest at Zahra co-op – ‘Will promote Pakistani products’

KUWAIT CITY, July 1: The Pakistan Business Centre (PBC) under the umbrella and guidance of Pakistan Embassy in cooperation with the Al-Zahra Cooperative Society, Kuwait organized the Fourth Pakistani Mangoes exhibition on June 28, 2018. This inaugural function was attended by a large number of Kuwaitis, Arabs and Asians including …

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CBK marks golden jubilee of establishment

The premier government-banking institute in Kuwait KUWAIT CITY, June 30, (KUNA): The Central Bank of Kuwait (CBK) marked on June 30 the golden jubilee of its establishment as the premier governmentbanking institute in the country. According to the CBK, the bank was established by virtue of the Law No. 32/1968 …

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Aramco and ADNOC in joint venture in India – Is there any synergy?

Independent Oil Analyst In April this year, Saudi Aramco bought 50 percent shares of a new yet-to-be-built refinery and petrochemical complex in Ratnagiri, west coast of India with Indian Oil Company (IOC) at a cost of $44 billion. The acquisition is part of Saudi’s expansion plans for investing in growing …

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Kuwait to raise oil output by 85,000 bpd, says oil minister

Saudi boosts oil supply close to record high in June RIYADH, June 30, (RTRS): Kuwait will raise oil output by 85,000 barrels per day (bpd) starting on Sunday, part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit al-Rashidi told a …

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China’s Huawei can contribute to dev in Kuwait: Al-Roudhan

KUWAIT CITY, June 30, (KUNA): Working with Chinese network and smart phone giant Huawei provides Kuwait with the opportunity to absorb some of the global tech firm’s cuttingedge knowledge, Minister of Commerce and Industry Khaled Al-Roudhan said on Saturday. Kuwait stands to gain from the success of the “tech powerhouse,” …

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Tunisian president lauds Kuwait’s tourism & economic investments

Al-Babtain welcomes Tunisian poet Echebbi TUNIS, June 30, (KUNA): Tunisia’s President Beji Caid Essebsi lauded Kuwait’s tourism and economic investments in his country, the Tunisian Presidency stated on Friday. Kuwait’s achievements in the tourism field have set the standards for successful Arab investments in Tunisia, Essebsi said. The president made …

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KIPIC, banks ink $2.3bn pact to fund LNG project

‘New sea port to work in 2021’ KUWAIT CITY, June 28: Kuwait Integrated Petroleum Industries Company (KIPIC) signed a contract with the local and foreign banks to finance the company’s $2.3 billion Liquefied Natural Gas (LNG) import, reports Al-Anba daily. The National Bank of Kuwait and Kuwait Finance House (KFH) …

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