Business

Cheap oil slamming stocks – Good for consumers

NEW YORK, Jan 21, (AP): Wall Street is drowning in oil. Stocks are having their worst start to a year in history in part because of a rapid plunge in the price of oil. The price of crude is down 28 percent this year already, which in turn has dragged …

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Red tape and political risks could stall investment in Iran – Threat sanctions could ‘snap back’ looms large

DUBAI, Jan 20, (RTRS): A multitude of business regulations – 182,000 by one minister’s count – stands in the way of a rapid flow of foreign investment into Iran after the lifting of nuclear sanctions ended its long isolation from global commerce. Other factors that could stall investment include residual …

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KSE index tumbles below 5,000 pts mark – NBK drops 30 fils; Zain flat

KUWAIT CITY, Jan 20: Kuwait stocks fell sharply on Wednesday to end below 5,000 pts mark amid fresh sell-offs triggered by further decline in oil prices. The price index skidded 98.94 pts in a broad decline to hit a fresh multi-year low of 4,985.27 pts tracking the slide in regional …

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UAE halts foreign banks waivers on state-linked lending – Many regional Gulf and Asian lenders to be significantly impacted 

DUBAI, Jan 20, (RYTRS): The United Arab Emirates (UAE) central bank has removed waivers given to foreign banks allowing them to use their group’s capital reserves to calculate lending to the government and state-owned entities, sources aware of the matter told Reuters. The change, related to 2012 legislation to counter …

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US firms moving operations out of China – Companies cite worsening conditions

BEIJING, Jan 20, (AFP): One out of four US companies active in China has moved some operations out of the country or is planning to, as conditions worsen in the world’s second-largest economy, an American business group said Wednesday. Foreign investment has been a key part of China’s transformation in …

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Al Sayer launches Lexus ‘F’ technology – All-new GS F and RC F unveiled under the F series

KUWAIT CITY, Jan 19: Mohamed Naser Al Sayer Tuesday launched the “F” technology from Lexus powered by innovative engineering, setting new benchmark for the Middle East luxury high performance car segment. Under the F line two of the most powerful Lexus cars ever made: GS F performance-oriented, four-door sports sedan …

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EQUATE issues G4 Sustainability Report – First G4 compliant report

KUWAIT CITY, Jan 19: EQUATE Petrochemical Company, Kuwait’s first international joint-venture in this industry, has issued its first Sustainability Report as per the Guideline 4 (G4) set by the Global Reporting Initiative (GRI). EQUATE has issued its first Sustainability Report for the year 2011, and has since then published more …

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KSE index rebounds amid bargain buying – Mabanee Co soars 40 fils; Zain flat

KUWAIT CITY, Jan 19: Kuwait stocks staged a modest rebound on Tuesday, stemming the sharp losing streak which knocked over 500 points off the main index amid heavy sell-offs. The bourse climbed 29.57 pts to 5084.21 points helped by bargain buying across the sectors even as oil prices saw a …

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Oil market may ‘drown’ in oversupply: IEA – Crude price could fall below its current 12-year lows

PARIS, Jan 19, (RTRS): Unseasonably warm weather and rising supply will keep the crude oil market oversupplied until at least late 2016 and could push the price below its current 12-year lows, the International Energy Agency said on Tuesday. The addition of Iranian supply to a market where production looks …

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AAW hosts US Ambassador to Kuwait – Various areas of collaboration discussed

KUWAIT CITY, Jan 18: Chairman and CEO of Ali Abdulwahab Al Mutawa Commercial Co (AAW), Faisal Ali Abdulwahab Al Mutawa, today received US Ambassador to Kuwait, HE Douglas Silliman and Senior Commercial Officer, Jeff Hamilton at AAW headquarters with the presence of Deputy CEO of AAW, Khaled Faisal Al Mutawa …

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