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Sunday , November 18 2018

Tag Archives: Gold

Gold down for 5th consecutive month

Prices slip below $1,200 per ounce KUWAIT CITY, Sept 9, (KUNA): Global gold prices continued dropping for the fifth consecutive month below $1,200 per ounce, affected by the US dollar’s strong performance, said Sabaek Al-Kuwait for precious minerals company. In its weekly report released on Sunday, Sabaek said the US …

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‘Gold’ is no longer haven for investors – Plagued by suspicions

KUWAIT CITY, July 21: It is no longer realistic that gold is regarded the safe haven of investors, considering Kuwait recently witnessed an illegal profit in the gold trade, which is plagued by suspicions of money laundering, foreclosure or sale by installments in a manner that competes with banks in …

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Violations detected in gold market

KUWAIT CITY, July 3: Supervisor of Precious Metal Department in the Ministry of Commerce and Industry Saad Al-Saeed disclosed that 33 violations were issued against several jewelry shops in Farwaniya area, reports Al-Anba daily. He noted officers of the department on a recent inspection tour of jewelry shops in several …

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Indian goldsmith detained for stealing gold and bribing MOCI staff

KUWAIT CITY, May 31: The Capital prosecutor ordered the detention of an Indian goldsmith who was accused of stealing gold and bribing two employees of Ministry of Commerce and Industry, reports Al-Anba daily. Even though the suspect denied the two allegations especially bribery, eyewitnesses affirm his involvement in the crime. …

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Israeli firm says it can turn garbage into plastic gold

KIBBUTZ ZEELIM, ISRAEL (AP) — Hawks, vultures and storks circle overhead as Christopher Sveen points at the heap of refuse rotting in the desert heat, calling it “the mine of the future.” Sveen is chief operations officer at UBQ, an Israeli company that has patented a process to convert household …

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Gold stamping lower in Nov 2017 compared to 2016

46 pct increase in gem stones examination KUWAIT CITY, Jan 3: The Precious Minerals Department in the Ministry of Commerce and Industry stamped more than 1.9 tons of gold in November 2017 with financial return of more than KD 98,000 – lower by about four percent compared to the same …

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Some gold shops in Dubai absorb 5 pct VAT

Some gold shops in Dubai absorb 5 pct VATv DUBAI, Jan 4: Effective January 1 this year, buyers of gold and diamond jewellery in the UAE are supposed to pay a 5 per cent value added tax (VAT), but it looks like some of them won’t have to pay for …

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Fake gold seized in various locations of Al- Mubarakeya and Al-Rai areas

KUWAIT CITY, Nov 22: Ministry of Commerce and Industry confiscated six kilograms of faked golden crafts at the value of KD 80,000 (around $261,000) in various locations of Al- Mubarakeya and Al-Rai areas, and culprits were referred for prosecution, says KUNA. The confiscated jewelry is of duplication of international brands …

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Massive fraud discovered in gold jewelry items in market

KUWAIT CITY, Nov 14, (KUNA): Ministry of Commerce and Industry inspectors have discovered fraud of 3.940 kgs of gold valued at KD 50,000 ($165,000) at a gold store in Al-Rai district. The case was later referred to prosecution. The Ministry added in a statement Tuesday that the forged items were …

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3 young Kuwaiti women sell Gold to by drugs

KUWAIT CITY, Oct 26: Police have arrested three young Kuwaiti women for possessing and consuming drugs and handed them over to the General Department for Drugs Control, reports Al-Rai daily. The women were picked up in Ahmadi when they were riding in a car by a police patrol on routine …

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