Thursday , February 22 2018

Business

Kuwait metro, rail procurement to begin next yr

KUWAIT CITY, Oct 10: Kuwait Authority for Partnership Projects says that it has appointed new advisers for the planned Kuwait City metro and expects to start procurement in the first quarter of 2016. Plans for a metro were first announced in 2006. Expressions of interest were invited in 2012, but the …

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Al-Mazaya acquires commercial tower in Riyadh for SR 130mn – Company enhances its portfolio of income generating assets by new acquisition

KUWAIT CITY, Oct 10: Al-Mazaya Holding Group has purchased a new tower servicing the office and commercial sector and occupying an area of 2,160m2 in Al-Olaya district, Riyadh, KSA, for SR 130m through one of its subsidiaries in Saudi Arabia. The contract was signed in Riyadh by Engineer Ibrahim Al-Soqabi, …

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A year on, OPEC counts cost of relinquishing its ‘swing’ role – Members face new reality – austerity

Next month will be the anniversary of OPEC’s historic decision to relinquish its swing producer role and allow its members to produce oil as much as they can. OPEC took such a decision based on its need to retain its market share intake in the light of the competition it …

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Kuwait bourse ends week’s trading in red –

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,708.75 points, down by 0.21% from the week before closing, the Weighted Index decreased by 0.06% after closing at 386.41 points, whereas the KSX-15 Index closed at 925.54 points down by 0.46%. Furthermore, last …

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Gulf Bank wins prestigious award – Kuwait lender named ‘Best Cash Management Bank in Kuwait’

KUWAIT CITY, Oct 10: Gulf Bank is pleased to announce it has been recognized as the ‘Best Cash Management Bank in Kuwait’ by The Asian Banker, one of Asia’s leading consulting companies in financial services research, benchmarking, and intelligence. The awards ceremony was held during the ‘2015 Future of Finance …

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G20 ministers endorse crackdown on tax evasion by multi-nationals – Tax dodging costs countries at least $100 bln a year

LIMA, Oct 9, (AFP): Finance ministers from the world’s leading economies gave the green light Friday to a new plan to crack down on tax evasion by multi-national corporations which costs countries at least $100 billion a year. The so-called Base Erosion and Profit Shifting (BEPS) plan, which seeks to …

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Kuwait real estate sales dip but prices holding their own Total residential sales in 2015 reach KD 983 million

While sales continue to be slow in the real estate sector, prices seem to be holding up relatively well so far, notwithstanding pockets of softness. For the first eight months of the year, total real estate sales reached KD 2.1 billion, down 23 percent from the same period last year. …

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Saudi Sept oil production, supply steady — industry source Global oil market needs an anchor, Saudi adviser says

KUWAIT CITY, Oct 9, (RTRS): The lack of a clear leader or “anchor” in the global oil market is fueling uncertainty and leading to sharp swings in crude prices, but this uncertainty is unlikely to continue for long, a senior Saudi oil adviser said. The comments by Ibrahim al- Muhanna …

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VW brand likely to face full-year loss – Company may compensate owners of diesel cars for loss of value

HAMBURG/BERLIN, Oct 9, (Agencies): Volkswagen’s core autos division will likely plunge into a loss this year as it is set to shoulder the bulk of the costs from the fallout of the company’s rigging of diesel emissions tests, two company sources said on Friday. VW’s namesake brand accounts for about …

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Air France & pilots in first talks since violent protests

PARIS, Oct 9, (AFP): Air France resumed negotiations with pilots’ unions on Friday for the first time since one of its executives had his shirt torn off by an angry mob after the airline unveiled plans for job cuts. Xavier Broseta, the human resources director who was pictured on front …

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