Business

Kuwait oil price up 74 cents to $71.79 pb

The price of Kuwaiti oil went up 74 cents Monday to $71.79 per barrel (pb), after being at $71.05 pb Friday, said Kuwait Petroleum Corporation (KPC) on Tuesday. On the global scale, the oil price fall Monday as Libyan ports reopened while traders eyed potential supply increases by Russia and …

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Wataniya Airways confirms order for A320 planes

KUWAIT CITY, July 17: A major aircraft order follows an earlier agreement announced at last year’s Dubai Airshow between Kuwaiti carrier and Airbus Golden Falcon Aviation, the exclusive aircraft provider of Wataniya Airways, on Monday confirmed an order for 25 Airbus A320 neo family aircraft . The order follows an earlier …

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‘Finance’ keen on strengthening commercial & economic growth

Al-Mawashi turns carcasses into eco-friendly compost KUWAIT CITY, July 17, (KUNA): Minister of Finance Nayef Al-Hajraf on Tuesday affirmed Kuwait’s keenness on strengthening its commercial and economic ties on a global scale. “Customs are an asset to enhancing the general budget of the country, and play a vital role in …

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Wataniya Airways concludes first year of re-operation

Airline achieves major breakthrough with 400K passengers KUWAIT CITY, July 16: Having resumed its flights back in July 11, 2017, Wataniya Airways celebrates today its one-year anniversary of re-operation. The revamped company and current curators achieved a major breakthrough during this year reaching nearly 400K passengers. On this occasion, Wataniya …

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KFH invites AUB due diligence

DUBAI, July 16, (RTRS): Kuwait Finance House (KFH) said on Monday it had invited Bahrain’s Ahli United Bank to begin a due diligence process for a potential merger, Kuwait’s biggest Islamic lender said on Monday. KFH also asked AUB to sign a non-disclosure agreement. If the merger goes ahead, it …

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OPEC only choice; the limit is reached

To bring the oil prices down to an acceptable “White House” level, which is less than $80 per barrel, the USA administration must ensure all oil-producing countries including OPEC member states continue to maintain the current input. This is prov i d e d Venezuela, Libya, Angola and Nigeria are …

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Company set with KD 20 mln capital

KUWAIT CITY, July 15: Kuwait Clearing Company and four other partners have established a closed shareholding company with the name “Kuwait International Settlement and Clearing Company”, reports Al-Rai daily. The authorized capital of the established company is set at KD 20 million distributed over 200 million shares. The company’s capital …

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KFAED signs $170 mln loan deal with Egypt

KUWAIT CITY, July 14: Kuwait Fund for Arab Economic Development (KFAED) on Thursday signed a KD 50 million ($170 million) loan for the Egyptian government, which will contribute to the construction of a sewage water treatment facility for several towns in the northeast. The plans will respond to the growing …

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KIB closing its $250 mln Murabaha

KUWAIT CITY, July 14: KIB held an exclusive ceremony to mark the occasion of the Bank’s successful closing of a $250 million 3-year syndicated Murabaha financing facility. This landmark financing was concluded with a consortium of international and local banks viz; Standard Chartered Bank, First Abu Dhabi Bank, National Bank …

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‘Korean companies can be worthy partners to achieve Kuwait 2035’

KOTRA, Embassy hold Seminar and Business meet with 11 companies KUWAIT CITY, July 12: The Korea Trade Investment Promotion Agency (KOTRA), the commercial section of the Embassy of The Republic of Korea held a Korea Electric Power Technology Seminar and Business meeting with Korea Electric Power Corporation and a delegation …

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