Business

Shamal Az-Zour logs 1 mln man-hours without Lost Time Accident

Milestone equivalent to 10 individuals working safely for 50 years KUWAIT CITY, May 22: Shamal Az-Zour Al-Oula KSC, the owner and operator of the Az-Zour North One Power and Water Plant, announced today that the company has reached 1,000,000 man-hours at the plant without a Lost Time Accident, the equivalent …

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ABK, FAB and Noor Bank sign loan deal for Dubai Aerospace

KUWAIT CITY, May 21: Al Ahli Bank of Kuwait (ABK), First Abu Dhabi Bank (FAB) and Noor Bank have announced the signing of a landmark financing facility for Dubai Aerospace Enterprise (DAE) for an initial amount of $480 million, expandable to $800 million. The facility has a four year tenor …

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UAE announces ownership, visa reforms – Move to lure foreign investors

ABU DHABI, May 21, (AFP): The United Arab Emirates has announced plans to allow 100 percent ownership and visa incentives to foreigners, in a bid to attract investors to boost its slowing national economy. The decision, taken by the UAE cabinet Sunday night, aims to lure “international investments and exceptional …

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Kuwaiti investor in ‘date’ with Iraq

SOUTHERN BADIA, Iraq, May 21, (RTRS): On a former battlefield of the 1991 Gulf War, deep in Iraq’s southern desert, a Kuwaiti investor is looking to grow 100,000 date palms and build a nature reserve complete with ostriches and deer. Few Kuwaiti firms have returned to do business in Iraq …

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Burgan Bank marks ‘International Awareness Month of Internal Audit’

Validating a niche role in running of a successful business KUWAIT CITY, May 20: Burgan Bank, a dynamic financial institution, recently celebrated the role of the Internal Audit department to raise awareness about the profession and reward outstanding personnel. As part of its many positive initiatives to support internal growth …

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EQUATE earns Kuwait’s 1st LEED Silver certification

New company headquarters recognized for its design and construction KUWAIT CITY, May 20: EQUATE’s new headquarters, a refl ection of the company’s efforts to implement its sustainability strategy by 2025, recently earned Kuwait’s first LEED-Silver Building Design & Construction (BD+C) certification for its compliance with the US Green Building Council …

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Tamdeen Group breaks ground on KD 250 mln Al Khiran Project

Mega project located in Sabah Al Ahmad Sea City KUWAIT CITY, May 20: Tamdeen Group, Kuwait’s leading property developer, has broken ground on the impressive KD 250 million Al Khiran Project, The New Pulse of Kuwait, is the largest waterfront recreational tourism destination built by the private sector in Kuwait. …

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Is oil price hitting $100 an advantage?

I certainly hope not after it hit $80 last week. Now oil markets are talking about a higher level, claiming that $100 is not far away. This could happen if OPEC decides to play a passive role in doing things and keeping its production cut of 1.8 million barrels in …

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Asia oil thirst tab $1 trillion a year

Crude prices rise by 20% this year, to almost $80 per barrel SINGAPORE/MUMBAI/MANILA, May 17, (RTRS): Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what …

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Russia and China extend economic influence in Iran

Tehran signs oil deal with UK group as France’s Total exists ASTANA, Kazakhstan, May 17, (Agencies): Russia and China moved Thursday to extend their economic influence in Iran, while Europeans are finding it harder to ignore efforts by Washington to isolate Tehran economically. In one of the most concrete moves …

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