Business

Kuwait hikes discount rates – UAE raises rates

DUBAI, March 21, (RTRS): Kuwait’s central bank said on Wednesday it was raising its discount rate by 25 basis points to 3 percent. Its move followed the US Federal Reserve’s decision to hike rates by 25 bps. The United Arab Emirates central bank said on Wednesday that it was raising …

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KFAED signs $15 million loan deal with Republic of Burundi – Nyanza Lac Road Project to be financed

KUWAIT CITY, March 20: A loan agreement between Kuwait Fund for Arab Economic Development and the Republic of Burundi has been signed in Bujumbura whereby Kuwait Fund extends a loan in an amount of KD 4.411 million equivalent to about $15 million to participate in the financing of the Rumonge …

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G20 seeks ‘further dialogue and actions’ on trade – Draft statement comes just days before US tariffs enter into force

BUENOS AIRES, March 20, (RTRS): The world’s financial leaders are likely to reaffirm on Tuesday their commitment to fighting protectionism and recognize the need for “further dialogue and actions” on trade, just days before US steel and aluminum tariffs are to enter into force. Finance ministers and central bankers of …

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Deal to finance road project – Kuwait signs $25.5m loan agreement with Tajikistan

KUWAIT CITY, March 20: A loan agreement was signed today in Dushanbe between the Republic of Tajikistan and the Kuwait Fund for Arab Economic Development, whereby the fund will provide a loan in the amount of 7.5 million Kuwaiti Dinars (equivalent to about $25.5 million), to the Republic of Tajikistan, …

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Finance postpones preps towards ‘enforcing’ VAT

Approval of National Assembly awaited KUWAIT CITY, March 20: Ministry of Finance has postponed the preparations for enforcement of Value Added Tax (VAT) until it is approved by the National Assembly, reports Al-Qabas daily quoting informed sources. They explained that the current situation is not favorable for the implementation of …

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KFH General Assembly approves cash dividend of 17%, bonus shares of 10% – KFH major player in national development and growth of Kuwait’s economy: Al-Marzouq

Following is the KFH Group Annual Report for 2017 presented by the Chairman, Hamad Abdul Mohsen Al-Marzouq Praise be to Allah Almighty, and Peace and Blessings be upon our Prophet Muhammad (PBUH), his Family and Companions. Esteemed Shareholders, Assalamu Alaikum Warahmatu Allah Wabarakatuh On behalf of myself, my fellow colleagues, …

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Gulf budget gaps to further narrow in 2018 – Kuwait’s govt revenues increase to KD 13.3bn, oil revenues expected to stay at KD 11.7bn in 2017/18

KUWAIT CITY, March 19: Budgets deficits for the GCC region in 2018 are forecasted to come in at $51bn, a 52 percent reduction from 2017 budget deficits ($107bn), based on our analysis of IMF’s general government fiscal balance estimates. Expense optimization and reduction initiatives are key drivers for the lower …

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KIF to showcase over $100b in potential investment opportunities – Forum highlights Kuwait’s determination to continue driving its transformation into a world-class financial and commercial hub

KUWAIT CITY, March 19: The State of Kuwait is rolling out investment partnerships and strategic investment opportunities valued at more than $100 billion in key economic and social sectors for investors that include information & communications technology, oil & gas, renewable energy, electricity & water, urban developments & housing, healthcare, …

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Kuwait Investment Forum 2018 to commence on Tuesday – Prominent govt officials, leading Kuwaiti business and financial community, int’l executives from Fortune 500 companies to participate

KUWAIT CITY, March 18: The Kuwait Investment Forum (KIF) 2018 will be held in Kuwait City on Tuesday, 20th March 2018 under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah at the Bayan Palace and the Jaber Al-Ahmad Cultural Center. KIF 2018 is co-organised by the …

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Indian airports stretched, analysts warn – Passenger numbers reach new heights

MUMBAI, March 18, (AFP): India’s airports are struggling to cope with a massive surge in passenger numbers and billions of dollars must be spent to boost their capacity, analysts have warned. The country is witnessing a huge boom in air travel as its growing middle class increasingly takes to the …

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