Business

‘Compliance in Kuwait with FATCA 100%’

KUWAIT CITY, Dec 7: The compliance of financial institutions with the Foreign Account Tax Compliance Act (FATCA) in Kuwait is 100 percent, reports Annahar daily quoting regulatory source. The sources added, the rate of compliance by law-abiding individuals who hold the US citizenship has reached the same percentage in the …

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Global stocks mixed, majority of GCC markets continue to pull back

KUWAIT CITY, Dec 6: Global equities closed the month of November in the green with the MSCI All Country World Index up 1.8%. In the US, the investigation into Russia meddling in the 2016 elections continues to take center stage alongside President Trump’s tax overhaul plan, while in Europe, political …

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Kuwait market closes in red; volume shrinks – Ooredoo dips 29 fils; Jazeera Airways gains

KUWAIT CITY, Dec 6 : Kuwait stocks pulled lower on Wednesday extending the losses to second straight session. The price index slipped 17.54 pts in volatile trade to 6,196.58 points weighed by banks and other heavyweights even as sentiment remained weak amid continuing regional tensions. The KSX 15 gauge dipped …

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India’s cenbank holds rates at seven-year low – Inflation hits 7-month high

MUMBAI, Dec 6, (AFP): India’s central bank held interest rates at a seven-year low on Wednesday, citing concerns over inflation and rising oil prices as a reason not to make a further cut. The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it …

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EU places 17 nations on ‘tax avoidance’ blacklist – UAE, Panama and S. Korea included

BRUSSELS, Dec 5, (Agencies): European Union (EU) ministers adopted on Tuesday a blacklist of 17 non-EU tax havens including Panama, South Korea and the United Arab Emirates after a year of tough negotiations. The Paradise Papers leak last month gave a new impetus to the plan, making public some of …

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Kuwait real estate activity picks up in Oct

Improvement in real estate activity continues apace as sales posted strong growth figures and prices remained relatively stable. Total real estate sales grew an impressive 46% year-on-year (y/y) in October, the highest monthly growth since June 2014, reaching KD 216.9 million, on revived activity in the commercial sector as well …

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Kuwait bourse retreats slightly in choppy trade – Humansoft Holding dives 139 fils; Ooredoo flat

KUWAIT CITY, Dec 5: Kuwait stocks sagged on Tuesday snapping the two-day uptrend. The bourse fell 7.82 points in choppy trade to 6,214.12 points tracking the weakness in regional markets led by banks and some of the mid caps. The KSX 15 benchmark dropped 7.9 pts to 902.93 points trimming …

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US companies invited to bid for developing Saudi N-plant – Falih says nuclear ambitions restricted to civilian uses

RIYADH, Dec 4, (RTRS): Saudi Arabia has invited US firms to take part in developing its civilian nuclear power programme, Energy Minister Khalid al-Falih said on Monday, adding the kingdom was not interested in diverting nuclear technology to military use. Reuters has reported that Westinghouse is in talks with other …

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NBK named ‘Bank of the Year’ by The Banker

National Bank of Kuwait (NBK) has been named “The Bank of the Year in Kuwait 2017 by the leading and internationally renowned Financial Times magazine “The Banker”. The prestigious Banker award was presented to Fawzi Al Dajani, NBK London General Manager, on behalf of NBK, at a glittering awarding ceremony …

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Kuwait index ekes modest gains; volume ticks higher – KFH extends upswing; Americana slumps

KUWAIT CITY, Dec 4: Kuwait stocks eked modest gains on Monday extending the advance to the second consecutive day. The price index rose 7.81 points in choppy trade to 6,221.94 points even as the overall sentiment remained mixed. The KSX 15 gauge fell 3 points to 910.8 points while weighted …

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