Monday , December 11 2017

Business

Saudi Aramco oil reserves dip in 2016 but daily output hits record – Gas reserves rise; two new oil fields discovered

KHOBAR, Saudi Arabia, July 6, (RTRS): Saudi Aramco said on Thursday its recoverable crude oil and condensate reserves slipped to 260.8 billion barrels at the end of 2016 but its daily crude oil production hit a new record of 10.5 million barrels per day. Aramco’s reserves stood at 261.1 billion …

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India’s new tax makes small companies untouchables, hurts informal workers – Unemployment risks, social unrest chances rise

MUMBAI, July 6, (RTRS): India’s biggest ever tax reform excludes tens of thousands of small businesses and millions of workers, risking an increase in unemployment and social unrest, analysts say. The Goods and Services Tax (GST), the biggest tax reform in the 70 years since independence, replaces more than a …

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Qatar Airways are set to buy shares in American Airlines – QA cancels order for four A350s

DUBLIN, July 6, (Agencies): Qatar Airways is to press on with plans to build a stake of up to 4.75 percent in American Airlines in the near future, despite the “categorical” opposition of the US company’s management, Qatar Chief Executive Akbar al-Baker said on Thursday. The state-owned carrier notified American …

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Saudia Cargo appoints Caesars Cargo Company as General Sales Agent in Kuwait – Our cargo business continues to expand: CEO Kumar

KUWAIT CITY, July 4: Saudia Cargo has appointed Caesars Cargo Company as their General Sales Agent (GSA) for the cargo operations in Kuwait. Caesars Cargo Company established in 2007 as a subsidiary of Caesars Travel Group has grown over the years and now representing the cargo operations of many leading …

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KFH recognizes CIBFS holders – Ceremony held to honor employees

KUWAIT CITY, July 4: Kuwait Finance House (KFH) held a ceremony to honor a batch of its employees who successfully completed Certified Islamic Banking and Financial Services program CIBFS. This emanates from KFH endeavors to recognize its human resources while continually training them and providing them with the necessary skills. …

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Kuwait index bounces, volume little changed – Americana jumps 99 fils; Ooredoo slips

KUWAIT CITY, July 4: Kuwait stocks rebounded on Tuesday stemming the four-day decline. The bourse bounced 73.55 pts to 6,638.77 points helped by renewed buying in select counters even as the trading remained anemic owing to lack of new catalysts. The KSX 15 benchmark rose 6.77 pts to 908.79 pts …

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‘India emerges into an opportunity’ – GST will not have major impact on remittance: Promoth Manghat

KUWAIT CITY, July 3: Promoth Manghat, CEO of UAE Exchange Group expressed his views on new Goods and Service Tax (GST) which came into effect in India on July 1. “The launch of GST is a historical decision for India. International media has been hailing it as a visionary constitutional …

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Kuwait bourse ‘extends’ losses to fourth session – Americana dives 150 fils; Ooredoo rebounds

KUWAIT CITY, July 3: Kuwait stocks swung lower on Monday, extending the losses to fourth consecutive session. The price index dipped 47.3 points in volatile trade to 6,565.22 points weighed by selling in select counters. The KSX 15 benchmark dropped 13.11 pts to 902.02 pts while weighted index was down …

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Oil weighs on GCC indices; EM inclusion hopes lift KSA – Emerging markets continue to outperform as foreign inflows pick up

Regional equities retreated in 2Q17, continuing to underperform international markets, with the exception of Saudi Arabia. The MSCI GCC ex-Saudi Arabia price index declined 5.2 percent on the quarter, with most regional markets closing in negative territory amid notably lower volumes. Saudi’s performance, however, was boosted late in the quarter, …

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