Thursday , September 20 2018

Business

Shuaa Capital in talks to acquire more shares in Kuwait’s Amwal

DUBAI, Jan 22 : Dubai-based Shuaa Capital is in discussions to acquire Amwal International Investment Company, after buying a minority stake in the Kuwaiti investment bank in July, according to a report from The National. Shuaa, the top investment bank in the Arabian Gulf region before the 2008 financial crisis, …

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Oil at $70 is no quick fix for Gulf economies – At current prices, Kuwait, UAE and Qatar heading for budget surplus this year: analysts

DUBAI, Jan 23, (Agencies): Rising oil prices are easing fears of a financial crisis in the Gulf, but they look unlikely to trigger another economic boom in the region, a quarterly Reuters poll of private economists shows. The Brent oil price has surged to three-year highs around $70 a barrel, …

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Amazon opens store with no cashiers – Get your stuff and go

SEATTLE, Jan 23, (AP): No cashiers, no registers and no cash — this is how Amazon sees the future of store shopping. The online retailer opened its Amazon Go concept to the public Monday in Seattle, which lets shoppers take milk, potato chips or ready-to-eat salads off its shelves and …

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NBK reports KD 322.4mn net profit for FY2017 – Bank’s solid YoY growth achieved in a global challenging operating environment: Al-Sayer

KUWAIT CITY, Jan 22: National Bank of Kuwait (NBK) reported net profits of KD 322.4 million ($1,068.3 million) for the year 2017 compared with KD 295.2 million ($978.2 million) in 2016, growing 9.2% year-on-year. Total assets as of year-end 2017 reached KD 26.0 billion ($86.3 billion) up 7.4% compared to …

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Kuwait Expo 2018 will boost country’s economy – official

Kuwait all set for Arab Water Conference in May KUWAIT CITY, Jan 22, (KUNA): Kuwait Expo 2018 is a great opportunity to boost economic and commercial ties between Kuwait and the world, said Undersecretary of Foreign Trade Sector in the Ministry of Commerce and Industry. The expo held from February …

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Crude prices reach highest level in 3 years

Oil prices reached highest levels seen in 3 years, as Brent crude touched USD 70/b at the start of 2018. Key drivers are supply issues in Libya, ongoing issues in Venezuela that has affected supply from OPEC members and declining inventory in the US, although US supply is expected to …

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Kuwaiti organizers set Feb 2020 as date of next airshow

Kuwait’s aviation show will now be a biennial event, with the second edition due in February of 2020, the organizers of the country’s first-ever aerial spectacle revealed Saturday. In a press conference to promulgate the date of Kuwait’s second airshow, the head of the event’s organizing committee Ahmad Behbehani said …

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‘Enhance, divert economy & create job opportunities’ – Time has come to implement Amir’s vision

In few words, His Highness our Amir last week expressed his vision for the enhancement of our economy and creation of jobs for new graduates entering the local labor market, and emphasized on enhancing competitiveness. His Highness the Amir was last week addressing the committee responsible for improving work environment …

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Accurate accounting records critical for accurate VAT: Chitty – Expert highlights importance of financial and record keeping discipline amongst accountants

KUWAIT CITY, Jan 20: Like everything else in life financial auditing is subjected to change. Development of standards that promotes transparency, accuracy and reliability. Financial audits exist to add credibility to the implied assertion by an organization’s management that its financial statements fairly represent the organization’s position and performance, and …

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Saudi goods spread in Kuwait criticized – ‘Promote local products’

KUWAIT CITY, Jan 20: Top officials of a number of Kuwaiti companies criticized the widespread presence of Saudi products in the Kuwaiti market recently, which has in turn negatively impacted the market, reports Al-Rai daily. They revealed this during a meeting organized by Kuwait Industries Association with the cooperation of …

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