Tuesday , October 16 2018

Business

‘This is investment’ – Opinion differs

KUWAIT CITY, Aug 6: With the release of the central market in Block One by the Board of Directors of Jleeb Al-Shuyoukh Cooperative Society and pending approval of the general assembly slated for Monday afternoon, the social media has been abuzz with opinions of those who are for and against …

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15 pc returns from small projects

KUWAIT CITY, Aug 6: Deputy Director General for Operation Affairs at National Fund for Small and Medium Enterprise Development Eng Fares Al- Enezi says top-level investors are seeking to invest in the small enterprises’ sector due to their high returns compared to other sectors. He explained that the returns from …

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EQUATE reports highest Q2 earnings in its history

Group posts 56% hike in H1 net income KUWAIT CITY, Aug 5: EQUATE Group, a global producer of petrochemicals, reported its highest second quarter earnings in its history. Net income for the EQUATE Group for 2Q, 2018 was $427 million, up 75 per cent compared to the same period in …

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Foreign banks capital increase

KUWAIT CITY, Aug 5:  The total capital increase in the branches of foreign banks operating in the country reached $30 million last month — approximately KD 9 million, reports Al-Rai daily quoting sources. According to decisions issued by Central Bank of Kuwait (CBK) Governor Dr Mohammad Al-Hashil, the data of …

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ID cards for real estate brokers – PAI cancels licenses of 5 projects

KUWAIT CITY, Aug 5: The Ministry of Commerce and Industry will issue identification cards for real estate brokers within this week, reports Al-Jarida daily quoting sources. Sources explained this step aims to end chaos in the concerned governmental bodies due to the existence of many expatriate real estate brokers. Sources …

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Increase in transactions

KUWAIT CITY, Aug 5: According to official data released by the Central Bank of Kuwait, citizens and residents spent KD 5.6 billion at point-of-sale transactions during the first six months of 2018. This is an increase of 16.2 percent to KD 787.5 million compared to KD 4.8 billion spent during …

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‘Finance’ urges all state bodies and ministries to avoid exceeding budget

KUWAIT CITY, Aug 4: Ministry of Finance stressed the importance for all state bodies and ministries to avoid exceeding the allocated budgets as part of the rationalization policy adopted by the government, reports Al-Rai daily. The ministry declared to all public institutions and ministries via a circular that the public …

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PAM eyes work visas for expat business partners

KUWAIT CITY, Aug 4: The Public Authority for Manpower (PAM) issued a decision to grant work permits for non-Kuwaiti partners in Kuwaiti companies provided they submit an application using the form prepared by the concerned labor department, reports Al-Anba daily. The decision, which is part of ongoing efforts to regulate …

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CMA launches next phase of bidding for equity stake in Boursa Kuwait

Qualified local investors, int’l operators were given additional time to express interest KUWAIT CITY, Aug 2: The Capital Markets Authority (“CMA”) on the 28th of June 2018 issued an announcement regarding the bidding for an equity stake in Boursa Kuwait. Following consultation sessions with local investors, the CMA had agreed …

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Duterte says may deploy warship to save Filipino captives in Libya

MANILA, Aug 3 (Reuters) – Philippine President Rodrigo Duterte said on Friday he might send the navy’s most modern frigate to waters off Libya in a bid to “save” three Filipinos and a South Korean kidnapped last month from a water plant in the north African country. South Korea has …

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