Saturday , November 18 2017

Business

Gulf countries agree on key issues for implementing VAT – Health, education, social services, some food among exclusions

ABU DHABI, Dec 7, (RTRS): Gulf states have agreed on key issues for implementing value-added tax in the region, an official from the United Arab Emirates finance ministry said on Monday, moving the six nations closer to introducing direct taxation for the first time. The agreement was reached at a …

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Govt spending robust despite drop in oil prices

The interim public finance figures for the first seven months of fiscal year 2015/16 (FY15/16) point to rising government spending as the oil price fell below the budgeted price of $45 per barrel. Capital spending continues at a better pace than the five year average, while revenues remain pressured due …

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Jazeera Airways finalizes capital reduction – Company to start cash payouts of KD 32.7mn on Dec 13

KUWAIT CITY, Dec 7: Jazeera Airways today announced it has finalized its voluntary capital reduction process to bring down its capital from KD 42 million to KD 20 million to match the size of its current operations after it exited the aircraft leasing business. As part of the process, the …

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KSE index ends 3.15 pts higher in volatile trade – Banks close in negative territory

KUWAIT CITY, Dec 6: Kuwait stocks continued to edge higher on Sunday after experiencing mixed results in last week’s trading. The bourse rose 3.15 pts in volatile trading to 5,791.89 pts even as the board remained mixed. The daily value of traded stocks stood at KD 10,809, 471. The banks …

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Ooredoo Kuwait, Huawei align on future transformation agenda – Companies conclude first Annual Strategy Summit with plans to expand cooperation

KUWAIT CITY, Dec 6: Kuwait: Senior executives from Ooredoo Kuwait, a member of the international Ooredoo Group, and leading global ICT solutions provider Huawei recently concluded the companies’ first Annual Strategy Summit in China with the aim to extend cooperation in developing new technology platforms as well as supporting local …

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Zain main sponsor of RoadRush for 2nd year in a row – Event aims at encouraging women to participate in motorsports

KUWAIT CITY, Dec 6: Zain, the leading telecommunications company in Kuwait, announced its main sponsorship of the 6th edition of RoadRush. The motorsport activity, which exclusively aims at women, takes place from November 2015 until February 2016. Zain’s support to this unique racing competition comes in line with the company’s …

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NBK opens new branch at KOC Head Office – New outlet to provide company employees with full services

KUWAIT CITY, Dec 6: National Bank of Kuwait (NBK) opened a new branch at Kuwait Oil Company (KOC) Head Office on Sunday to provide its employees with full services. The opening of the new branch comes in tandem with NBK’s long term relationship with KOC and all national oil companies. …

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NBK named ‘Bank of the Year in Kuwait’ – Lender honored by ‘The Banker’ at an awarding ceremony in London

KUWAIT CITY, Dec 5: National Bank of Kuwait (NBK) has been named “The Bank of the Year in Kuwait 2015 by the leading and internationally renowned Financial Times magazine “The Banker”. The prestigious Banker award was presented to Fawzi Al Dajani, NBK London General Manager, on behalf of NBK, at …

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KFH launches new campaign on ‘Work and Construction Materials Financing’ – 12 months maturity of first installment

KUWAIT CITY, Dec 5: Kuwait Finance House KFH launched “Work and Construction Materials Financing Campaign” which provides all clients’ needs to build their dream house in a streamlined manner and outstanding services. This campaign stems from the bank’s keenness to grant clients special advantages and boost the market, especially the …

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Fitch affirms Kuwait’s rating at ‘AA+’ – Outlook stable; real GDP growth pegged at 0.8% in 2015

KUWAIT CITY, Dec 5, (KUNA): Fitch new sovereign credit rating for the State of Kuwait, 2015, stands at “AA+” level with a “stable outlook” for the country. Fitch Ratings, in a fresh report, has affirmed Kuwait’s long-term foreign and local currency Issuer Default Ratings (IDR) at ‘AA’. The outlooks are …

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