Monday , November 20 2017

Business

Tax from firms KD 1b

KUWAIT CITY, Oct 5, (KUNA): Finance Undersecretary Khalifa Hamadah said taxes levied by the State from companies operating in the country ranges between KD 800 million and KD one billion annually, according to the new taxes law. The Ministry will be handed the new taxes draft law from the International …

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Dubai Ruler launches aid and development foundation

The Ruler of Dubai launched a new foundation Sunday to consolidate a range of existing charitable and human development initiatives that aims to support more than $270 million in projects annually. The foundation is designed to act as an umbrella group for some 28 aid organizations and other initiatives that …

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Abu Dhabi’s ADWEA in talks with banks for $350 mln project bond

DUBAI, Oct 4, (RTRS): Monopoly utility Abu Dhabi Water & Electricity Authority (ADWEA) is in talks with banks about issuing a project bond as early as this year to refinance debt used to construct a power and water plant, two sources aware of the matter said on Sunday. The offering …

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Kuwait’s Citizens Budget for FY 2015/16 released

KUWAIT CITY, Oct 4: Ministry of Finance recently released the Citizens Budget for fiscal year 2015/2016, which targets educating Kuwaiti citizens on the government’s overall revenues and expenditures. This, in turn, will enable citizens to have a better picture and understanding of State of Kuwait’s most pressing fiscal issues. It …

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Emirates airlines hints at no orders during Dubai Airshow – Decision next year

DUBAI, Oct 4, (RTRS): Emirates airlines indicated on Sunday that it won’t be announcing any big orders at next month’s Dubai Airshow and said it wouldn’t make a decision this year on whether to purchase Airbus A350 or Boeing 787 twin-aisle jets. Tim Clark, the airline’s president, asked at an …

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KSE sheds 12.88 pts as volume rebounds – NBK falls 10 fils; Americana jumps

KUWAIT CITY, Oct 4: Kuwait stocks headed south Sunday extending the losses from the earlier week. The price index slipped 12.88 pts to 5,707.77 points paring steeper early session drop. The heavyweights closed mixed even as sentiment remained soggy. The KSX 15 benchmark eased 3.48 pts to 926.36 points taking …

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Bahrain lifts meat subsidies as oil bites

Move to save money as low oil prices hit state finances MANAMA, Oct 3, (RTRS): Bahrain more than doubled the prices of beef and chicken removing meat subsidies in a politically sensitive move designed to save money as low oil prices slash the government’s revenues. Like other Gulf oil-exporting states, …

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Market indices record losses during week

Trading volume average 141.75 million shares, up 17.63% Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,720.65 points, down by 0.59% from the week before closing, the Weighted Index decreased by 0.67% after closing at 386.63 points, whereas the KSX-15 Index closed …

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Shale producers emerge as market stabilizing element

Oil prices to remain stable blow $50 Almost one year ago in November 2014, Saudi Arabia relinquished its role of swing producer and oil prices dropped by more than 50 percent. It now appears that the shale oil producers are emerging as the new legitimate replacement of Saudi Arabia as …

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Price of investment buildings in Kuwait drops, experts say

Investors pessimistic KUWAIT CITY, Oct 3, (KUNA): A number of real estate experts said here Saturday that there was a visible drop in the price of investment buildings in Kuwait due to a number of geopolitical factors and a pessimistic outlook in general regarding future forecast for real estate in …

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