Business

Rater maintains stable Kuwait outlook

KUWAIT CITY, Jan 14, (Agencies): Kuwait got sovereign foreign currency ratings of AA/Stable/A-1+ in the Middle East and North Africa Sovereign Rating Trends 2018 published by S&P Global Ratings recently. The sovereign ratings are determined using six key factors in which countries are scored from 1 to 6 with ‘1’ …

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KFH main partner of KFAS ‘Innovation Challenge 2018’ event

Unique training opportunity to develop innovation capabilities: Mandani KUWAIT CITY, Jan 14: Kuwait Finance House (KFH) takes part in the annual “Innovation Challenge 2018” event organized by the Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with the University of California, Los Angeles (UCLA). This prestigious event is …

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Plan to raise private sector’s role in ‘GDP’ – ‘Obstacles to be removed’

KUWAIT CITY, Jan 13: A local consultative center monitored a number of obstacles and challenges that hinder the contribution of private sector to GDP due to poor decision making and lack of opportunity for local companies in implementing their productive and operational investment initiatives to enhance contribution of private sector …

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Higher oil prices should keep ‘reforms’ on track

Bid to move away from dependence on oil   Independent Oil Analyst Oil prices are heading towards $70 per barrel. This will be good news for oil-exporting countries, as it means higher income and reduction in the deficit that resulted from the fall of oil prices from more than $100 …

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Bureau sends 165 observations to KIA, institutes under its wing

PIC to produce 16 mln tons of petroleum products per year KUWAIT CITY, Jan 11: The State Audit Bureau sent a total of 165 observations to Kuwait Investment Authority (KIA) and the organizations under its control. About 30 percent of these observations have been dealt with as of September 2017, …

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Equities to continue outperforming bonds throughout 2018

Barclays releases its Q1 2018 ‘Compass’ report KUWAIT CITY, Jan 10: Barclays has released its Q1 2018 “Compass” Report, which examines major asset classes globally. The report outlined how investors are being best served by leaning portfolios towards developed and emerging market equities, in addition to high yield and emerging …

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Global concludes exit from Bindar Trading Co

Stake acquired by Tamkeen, a unit of INVESTBANK in Jordan KUWAIT CITY, Jan 9: Global Investment House (Global), a regional asset management and investment banking firm headquartered in Kuwait, with offices in major capital markets in the MENA region, announced today that its alternative asset management arm, Global Capital Management …

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Kuwait to study implications of trading in Bitcoin currency

MoCI closely monitoring local firms’ ‘Bitcoin’ advertisements KUWAIT CITY, Jan 8: Ministry of Commerce and Industry is coordinating with Central Bank of Kuwait to study the implications of the electronic currency market trading in “Bitcoin”. They discussed the market extensively to make a decision in light of the rapid developments …

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Kuwait Energy in merger talks with London-listed SOCO Int’l

DUBAI, Jan 8, (RTRS): SOCO International, an oil and gas exploration and production company listed on the London Stock Exchange, said on Monday it was evaluating a merger with Middle East oil and gas firm Kuwait Energy. Its statement confirmed a Reuters report earlier on Monday that the two companies …

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Bahrain raises gasoline prices to improve finances

KHOBAR, Saudi Arabia, Jan 8, (RTRS): Bahrain raised gasoline prices on Monday to bring them closer to international levels, state news agency BNA reported, quoting the National Oil and Gas Authority. Octane 91 sold for 140 fils (37 US cents) a litre, up from 125 fils, while Octane 95 sold …

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