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Tuesday , December 11 2018

Business

Kuwait, US trade relations show marked ‘betterment’

SAB, AGSA ink cooperation deal KUWAIT CITY, Sept 3, (KUNA): Kuwait and the United States have maintained a vibrant economic relationship over the last few decades, where nonoil bilateral trade reached $3.3 billion last year. Both nations have shown a mutual desire to take ties to new levels, with hopes …

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15 companies eye merger to avoid bankruptcy

KUWAIT CITY, Sept 2: Fifteen companies are reported to be considering a merger to avoid bankruptcy before the end of 2018 amid pressures mounted on companies by the banks facing difficulties, reports Al-Shahed daily. The daily quoting a source said the companies in question are working with external entities and …

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Commerce minister opens consumer protection center

KUWAIT CITY, Sept 2, (KUNA): Minister of Commerce and Industry Khaled Al-Roudhan opened Sunday the new Consumer Protection and Control Center at The Avenues shopping mall as part of the ministry plan to spread commercial awareness and consumer knowledge. The Ministry of Commerce will soon launch a smart application that …

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Kuwaiti official touts World Bank’s ‘enriching’ educational programs

Owners of traditional and online retail businesses in conflict KUWAIT CITY, Sept 2, (Agencies): Courses offered by the World Bank Group (WBG) have proven effective in improving the quality of education, said an official on Sunday. Such courses are akin to a roadmap to educational stability, the Kuwaiti ministry of …

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MoSAL asks bank to take legal measures against ‘account holder’

KUWAIT CITY, Sept 1: Minister of Social Affairs and Labor and State Minister for Economy Affairs Hind Al-Sabeeh revealed that Ministry of Social Affairs and Labor has asked Ministry of Foreign Affairs and Ministry of Interior to take necessary legal measures against foreign charity organizations that call for collecting donations …

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Bruised bankers seek consolation prizes after shelved Aramco IPO

Privatisation programme still expected to raise up to $11 bln DUBAI/LONDON, Sept 1, (RTRS): Investment banks which lost out on big payouts for the work on the shelved listing of oil giant Aramco are lining up for a raft of other projects as Saudi Arabia pursues reforms. Banks including JPMorgan …

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Many projects under scrutiny

Two committees formed to determine violations, problems in projects: MPW KUWAIT CITY, Sept 1: Minister of Public Works Hussam Al-Roumi has ordered the formation of two independent committees to determine violations and problems in projects executed by the ministry, reports Al-Jarida daily. This came after the ministry received several complains …

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Indian currency decree did little to root out ‘black money’ – ‘It’s not only an economic failure but a moral failure as well’

  NEW DELHI, Aug 30, (AP): Nearly all of the currency removed from circulation in a surprise 2016 attempt to root out illegal hoards of cash came back into the financial system, India’s reserve bank has announced, indicating the move did little to slow the underground economy. Prime Minister Narendra …

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Zain completes five-year $700m loan refinancing

RIYADH, Aug 30, (RTRS): Kuwait based telecommunications group Zain has completed a five-year, $700 million revolving credit facility with a number of regional and international banks. The new facility refinances an $800 million revolving syndicated loan completed in 2014 and will be used for general corporate purposes, according to a …

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Middle East funds less positive on Saudi, Kuwait

Volatility on Turkey makes some bonds attractive; no major impact from delay to Aramco IPO DUBAI, Aug 30, (RTRS): Middle East fund managers have become less positive towards equities in Saudi Arabia and Kuwait after Turkey’s currency crisis triggered volatility in the markets this month, a monthly Reuters poll showed …

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