Business

Gulf Business Magazine names five Kuwaitis among top 100 Arab VIPs – Sheikh Ahmed Al-Maktoum ranks first in the list

KUWAIT CITY, March 6: Five prominent Kuwaitis in business and finance sector have been named among the top 100 Arab personalities for 2018 by the Gulf Business Magazine, reports Al-Rai daily. Mohamed Abdul-Aziz Al-Shaya, Board Chairman of Al Mabani Company and Chief Executive Officer of Mohammed Al-Shaya Company was 27th …

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Boursa Kuwait highlights its journey at EFG HERMES confab – CEO Al Khaled underlines impact of sound-operations and strong performance of capital markets on growth

KUWAIT CITY, March 5: Boursa Kuwait recently participated in EFG HERMES’ 14th Annual One on One Conference 2018 hosted in Dubai from 5 to 7 March 2018, titled ‘Shifting Benchmarks’. Attended by representatives of leading companies and financial institutions from across the MENA region, the conference presented a regional outlook …

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Kuwait’s refining ‘capacity’ at 736,000 bpd: KPC official

KUWAIT CITY, March 5, (KUNA): Kuwait’s crude refining capacity has stood at 736,000 barrel per day (bpd) after the closure of Shuaiba Refinery, a senior Kuwait Petroleum Corporation (KPC) official said. KPC’s DCEO for Projects Abdullah Al-Ajmi made the statement to the press on the sidelines of the oil sector’s …

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Huawei outlines vision for 5G future – Co unveils latest innovative products and solutions at MWC

KUWAIT CITY, March 4: At the Mobile World Congress 2018 (MWC) in Barcelona, Spain, Huawei, the leading global ICT solutions provider, shared its vision for a collaborative ecosystem that could stimulate innovation and the development of 5G, All-Cloud network, video, and IoT technologies. Huawei engaged with industry leaders, fostered important …

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Saudi’s $16 bln syndicated loan slashes funding costs – New Saudi dollar bond sale could be marketed over next few weeks: sources

DUBAI, March 4, (RTRS): Saudi Arabia’s planned $16 billion syndicated loan, one of the largest ever in emerging markets, will cut the kingdom’s cost of funding by paying banks much less than on previous borrowings. The ministry of finance said on Twitter that it would offer banks a margin of …

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KPC under restructuring – Focus should be on enhancing productivity and efficiency of its employees

Kuwait Petroleum Corporation (KPC) intends to soon embark on the process of reorganizing its organizational structure to ensure higher efficiency and enhanced ability to compete with international oil companies. According to local media, this process is in its final stage, and is pending the final approval of KPC board. The …

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Saudi expands $10bn loan refinancing to $16bn – Kingdom adds Islamic tranche

DUBAI, March 3, (RTRS): Saudi Arabia is expanding the refinancing of a $10 billion international loan to raise $16 billion due to strong demand, its Debt Management Office said on Friday. The DMO said it would introduce a “significant” Islamic tranche to the transaction, supporting Saudi Arabia’s goal of becoming …

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Trump’s tariffs announcement poses headache for Fed chief – Markets still betting on US interest rate hike in March

WASHINGTON, March 3, (RTRS): The Federal Reserve digested the Trump administration’s massive tax cuts and plan to boost spending with barely a hiccup, but Washington’s sudden push for steep tariffs on steel and aluminum imports could saddle the US central bank with the worst of both worlds – rising inflation …

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‘Classification of Kuwait likely to fall if bills are delayed’

KUWAIT CITY, March 1: The World Bank has confirmed to the Ministry of Commerce and Industry that the classification of Kuwait is likely to decline if the necessary economic bills are delayed, reports Al-Rai daily. At the forefront of necessary reforms are three insolvency bills, which include voluntary restructuring of …

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Zain Group, Ericsson create roadmap to 5G – Co-operation will enrich digital lifestyle of customers: Al Kharafi

BARCELONA, Feb 28: Zain Group and Ericsson (NASDAQ: ERIC) have announced they have signed a Memorandum of Understanding (MoU) to jointly develop and test selected 5G and Internet of Things (IoT) cases. The MoU, signed during Mobile World Congress 2018 in Barcelona, demonstrates the commitment of both companies to bringing …

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