Business

Aramco and ADNOC in joint venture in India – Is there any synergy?

Independent Oil Analyst In April this year, Saudi Aramco bought 50 percent shares of a new yet-to-be-built refinery and petrochemical complex in Ratnagiri, west coast of India with Indian Oil Company (IOC) at a cost of $44 billion. The acquisition is part of Saudi’s expansion plans for investing in growing …

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Kuwait to raise oil output by 85,000 bpd, says oil minister

Saudi boosts oil supply close to record high in June RIYADH, June 30, (RTRS): Kuwait will raise oil output by 85,000 barrels per day (bpd) starting on Sunday, part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit al-Rashidi told a …

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China’s Huawei can contribute to dev in Kuwait: Al-Roudhan

KUWAIT CITY, June 30, (KUNA): Working with Chinese network and smart phone giant Huawei provides Kuwait with the opportunity to absorb some of the global tech firm’s cuttingedge knowledge, Minister of Commerce and Industry Khaled Al-Roudhan said on Saturday. Kuwait stands to gain from the success of the “tech powerhouse,” …

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Tunisian president lauds Kuwait’s tourism & economic investments

Al-Babtain welcomes Tunisian poet Echebbi TUNIS, June 30, (KUNA): Tunisia’s President Beji Caid Essebsi lauded Kuwait’s tourism and economic investments in his country, the Tunisian Presidency stated on Friday. Kuwait’s achievements in the tourism field have set the standards for successful Arab investments in Tunisia, Essebsi said. The president made …

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KIPIC, banks ink $2.3bn pact to fund LNG project

‘New sea port to work in 2021’ KUWAIT CITY, June 28: Kuwait Integrated Petroleum Industries Company (KIPIC) signed a contract with the local and foreign banks to finance the company’s $2.3 billion Liquefied Natural Gas (LNG) import, reports Al-Anba daily. The National Bank of Kuwait and Kuwait Finance House (KFH) …

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Meet to establish Arab-Medit. banking cooperation: Kuwait

FM receives letter from Brazilian counterpart PARIS, June 28, (KUNA): The 2018 Arab Banking Summit kicked off Thursday in the French capital with conferees holding talks for two days on relations among financial and banking institutions in Arab, European and Mediterraean countries. Discussions have already been held among the attending …

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GCC allies promise to avert Bahrain debt crisis

Bahraini dinar, bonds rebound; many sceptical over kingdom’s fiscal reforms DUBAI, June 27, (RTRS): Bahrain’s dinar recovered from 17-year lows and its bond prices rebounded on Wednesday after the country’s diplomatic allies in the Gulf pledged to prevent its ballooning public debt from triggering a financial crisis. Bankers said the …

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Saudi plans to pump up to 11mn bpd of oil in July

Highest in its history DUBAI, June 27, (RTRS): Saudi Arabia plans to pump up to 11 million barrels of oil per day (bpd) in July, the highest in its history, up from about 10.8 million bpd in June, an industry source familiar with Saudi oil production plans told Reuters on …

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US call to halt Iran oil imports does not bind Turkey: minister

ANKARA, June 27, (RTRS): Turkey does not consider itself bound by the United States’ push to stop Iran exporting oil from November and will work to ensure that its “brother country” is not hurt by the US move, Economy Minister Nihat Zeybekci said on Wednesday. The US State Department on …

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A wide range of investment plans to KFH customers

Investment solutions with enhanced features KUWAIT CITY, June 26: Kuwait Finance House (KFH) rolls out a wide range of long-term investment plans specifically designed to fulfil all customers’ needs and meet their aspirations, yet reinforce the culture of planning for the future and reiterate the Bank’s pioneering position in offering …

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