Sunday , September 23 2018


How China’s Alibaba won and lost a ‘friend’ in Washington – Lobbying group reverses its position

SHANGHAI, May 27, (AP): In 2011, a respected anti-counterfeiting coalition in Washington escalated its fight against the Chinese e-commerce giant Alibaba, saying its websites served as a 24-hour market “for counterfeiters and pirates” and should be blacklisted. Fast forward to 2016. The same lobbying group, the International Anti-Counterfeiting Coalition, reversed …

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Kuwait to ink $1 bln contract with Salini, Limak for Mutlaa – First phase of new 400,000-resident city

DUBAI, May 25, (RTRS): Kuwait is expected to sign within two weeks a $1 billion contract with Italy’s Salini Impregilo and Turkey’s Limak Construction for its planned South Al Mutlaa City project, an official said on Wednesday. It is the first phase of the planned 100,000 square kilometre urban development, …

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KIPCO hosts ‘Speed of Trust’ seminar by Covey

KUWAIT CITY, May 25: The Kuwait Projects Company (KIPCO) hosted Stephen M.R. Covey on his first trip to Kuwait. Covey is a renowned keynote speaker and advisor on trust and leadership and the author of New York Times Bestseller ‘The Speed of Trust’. In collaboration with FranklinCovey Middle East, Covey …

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Kuwait’s index bounces 45.63 pts; volume soars – Mabanee Co gains 20 fils; Ooredoo slips

KUWAIT CITY, May 25: Kuwait stocks swung higher on Wednesday, as sentiment brightened on rising oil prices and positive regional cues The bourse, after a tame start, jumped 45.63 points to 5368.25 points helped by renewed buying across the board. The KSX 15 benchmark climbed 6.36 points to 836.19 pts …

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Makkah metro project delayed by restructuring – Construction industry severely squeezed

DUBAI, May 25, (RTRS): A $16.5 billion mass transit project planned for Saudi Arabia’s holy city of Makkah has been delayed so that its financing can be restructured, the head of the implementing body said on Wednesday. The kingdom has been slowing infrastructure projects and paring back state spending as …

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After oil collapse, India’s remittances from Gulf dip – Job losses soar

NEW DELHI, May 25, (RTRS): Having quit his low-paid job with a contractor in Qatar, electrician Kurian Joseph scrabbles for work each day in his hometown in Kerala, a southwestern state that has one of India’s highest unemployment rates. He’s a casualty of the global oil price collapse. Stories like …

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ALARGAN shareholders approve 10 pct cash dividend for 2015 – Company posts KD 16.7 million net profit; EPS 65.32 fils

KUWAIT CITY, May 24: ALARGAN International Real Estate Company today held its Annual General Meeting (AGM) for the fiscal year ending in Dec 31, 2015, during which Shareholders approved the Board’s recommendation to distribute 10% cash dividends (10 Fils per share at nominal value). Speaking at the AGM, Haitham Al-Khaled, …

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Ooredoo’s Al Jahra drive-through branch a major success with customers

Ooredoo Kuwait, a member of international Ooredoo Group, has hailed the great success achieved by its unique Al Jahra drive–through branch and the excellent feedback received from customers, since it was officially opened earlier this year. Ooredoo’s Al Jahra drive-through branch offers customers a unique service, allowing them to complete …

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KSE index nudges up amid bargain buying – NBK climbs 10 fils; KIPCO flat

KUWAIT CITY, May 24: Kuwait stocks nudged higher on Tuesday stemming the four-day fall. The price index rose 8.12 pts in lackluster trade to 5,322.61 points amid bargain buying in select counters. The heavyweights were mixed even as investors kept a wary eye on the oil prices. The KSX 15 gauge …

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KES holds forum on challenges facing Kuwait reforms – Trade minister orders overseas property sale panel

KUWAIT CITY, May 24, (KUNA): Kuwait Economic Society (KES) held a forum on Monday to discuss challeges facing economic reforms in Kuwait, like low oil prices, in addition to assessing the government’s reforms of national economy. Participants discussed challenges facing development, the privatization law, and the financial and economic charter. …

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