Business

Kuwait pledges $680 mln in loans to Lebanon – Paris conference raises over $11bn to help economy

BEIRUT, April 7, (RTRS): Kuwait pledged to lend Lebanon $680 million on Friday during a conference in Paris at which the Lebanese government is seeking support for a capital investment programme to boost its economy, Raed Khoury, the economy minister, told Reuters. Lebanon won aid pledges exceeding $11 billion at …

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Bahrain’s oil discovery to be ranked among top oil reserves – New era of prosperity on the horizon

Bahrain’s first oil discovery in 1932 was so huge that BP, the international oil company, did not want to participate in Kuwait’s oil concession with the Gulf oil company. Bahrain was among the top Arabian Gulf oil producers along with Iran and Iraq prior to any oil discoveries in Saudi …

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Crude drops on Trump’s latest China trade threat – Gold swings higher

LONDON, April 7, (RTRS): Oil prices fell on Friday after US President Donald Trump’s threat of new tariffs on China reignited fears of a trade war between the world’s two biggest economies. Trump said on Thursday he had ordered US trade officials to consider tariffs on an extra $100 billion …

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India to upgrade road and cross-border rail links with Nepal

NEW DELHI (AP) — India pledged Saturday to upgrade road and cross-border rail links with Nepal and develop inland waterways to provide sea connectivity to the landlocked Himalayan nation. Prime Minister Narendra Modi said India would also help Nepal in the field of agriculture through organic farming, soil testing and …

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Trump proposes $100 billion in new tariffs on Chinese goods

WASHINGTON (AP) — President Donald Trump has instructed the U.S. trade representative to consider slapping an additional $100 billion in tariffs on Chinese goods in a dramatic escalation of the trade dispute between the two countries. Trump’s surprise move Thursday came a day after Beijing announced plans to tax $50 …

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Kuwait registers current account surplus for Q4/’17

Amount registered represents a hike of 127.1% KUWAIT CITY, April 5: The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the fourth quarter of 2017 and the revised data of the third quarter of the same …

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‘Kuwait’s investments in US reach $300 bln’

US, Kuwait commercial exchange value exceeds $6 bln – Silverman KUWAIT CITY, April 4: The American Ambassador to Kuwait Lawrence Silverman reveals that the value of the commercial exchange between Kuwait and the USA exceeds $6 billion, reports Al-Anba daily. In a press release, he said last year witnessed an …

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KIPCO holds AGM and Shafafiyah Forum 2018, approves 10% cash dividend, 5% stock dividend – Group will continue to uphold prudent internal practices and diversify investments

KUWAIT CITY, April 4: At its Annual Shafafiyah ‘Transparency’ Investors’ Forum, KIPCO — the Kuwait Projects Company (Holding) — said that the challenging operating environment was expected to continue to impact the performance of the Group companies in 2018, but that 2019 should mark the beginning of recovery. At the …

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EQUATE participates in Annual Career Fair at Kuwait University

KUWAIT CITY, April 4: In its endeavor to attract the best human capital for the continued growth of the industry and economy, EQUATE Petrochemical Company, a global producer of petrochemicals, continues supporting the professional development of students by participating in the 18th Annual Career Fair at Kuwait’s University’s (KU) College …

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Bahrain announces discovery of shale oil – Reserve estimated at 80 bln barrels

MANAMA, April 4, (AFP): Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated to contain more than 80 billion barrels, making the once-marginal oil producer potentially a major player in the market. The amount of recoverable oil — or oil that can be extracted — is still …

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