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India budget goes for growth, investment – Economy seen growing 8 — 8.5% * Corporate tax cut to 25%

Posted by on 28/02/2015
Filed under Business, Top Stories

India budget goes for growth, investment – Economy seen growing 8 — 8.5% * Corporate tax cut to 25%

India budget goes for growth, investment – Economy seen growing 8 — 8.5% * Corporate tax cut to 25%

NEW DELHI: Indian Finance Minister Arun Jaitley yesterday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi’s landslide election victory last May, Jaitley said India’s economy was […]

3M will continue to focus on oil & gas sector in Kuwait

Posted by on 28/02/2015
Filed under Business, Top Stories

3M will continue to focus on oil & gas sector in Kuwait

3M will continue to focus on oil & gas sector in Kuwait

KUWAIT: 3M, the well-known technology solutions company, will continue to bring innovative solutions and products to Kuwait as it is focused on creating value for its customers through the 40+ technology platforms it owns in 3M, said Martin Parsons, Country Manager – Kuwait and Qatar, 3M Gulf, in an interview with Kuwait Times. | Over […]

India under pressure to deliver on ‘Modinomics’ – Critics say voters tired of waiting for change

Posted by on 25/02/2015
Filed under Business, Subcontinent, World

India under pressure to deliver on ‘Modinomics’ – Critics say voters tired of waiting for change

India under pressure to deliver on ‘Modinomics’ – Critics say voters tired of waiting for change

NEW DELHI: Prime Minister Narendra Modi’s government unveils its first full budget Saturday under intense pressure to bring about promised reforms to grow India’s economy after winning the biggest mandate in 30 years at last year’s elections. Modi has promised to slash red tape, reform tax and overhaul land acquisition laws to try to attract […]

Al Mulla Exchange opens 3 new branches in Kuwait

Posted by on 24/02/2015
Filed under Business

Al Mulla Exchange opens 3 new branches in Kuwait

Al Mulla Exchange opens 3 new branches in Kuwait

KUWAIT: Al Mulla International Exchange, the leading money remittance company in Kuwait, inaugurated three new branches in Jaber Al Ali, Riggae and Jahra respectively, to join the company’s chain of 60 branches located all over Kuwait. On behalf of Al Mulla International Exchange, Rakesh Joshi, General Manager, commented on the branches’ opening by saying: “Every […]

Zain CEO reviews 2014 results – Scott Gegenheimer looks at operational challenges, future strategic direction of Zain

Posted by on 24/02/2015
Filed under Business

Zain CEO reviews 2014 results – Scott Gegenheimer looks at operational challenges, future strategic direction of Zain

Zain CEO reviews 2014 results – Scott Gegenheimer looks at operational challenges, future strategic direction of Zain

KUWAIT: For the full-year 2014, Zain Group generated consolidated revenues of $4.3 billion, down 2 percent from 2013. Consolidated EBITDA for the period reached $1.8 Billion, down 6 percent, reflecting an EBITDA margin of 41.8 percent. Consolidated net income amounted to $685 million, down 10 percent, and reflecting earnings per share of $0.18. The company’s […]

Ooredoo Kuwait posts KD749 million revenue for 2014 – Continued growth in customers and revenue

Posted by on 23/02/2015
Filed under Business

Ooredoo Kuwait posts KD749 million revenue for 2014 – Continued growth in customers and revenue

Ooredoo Kuwait posts KD749 million revenue for 2014 – Continued growth in customers and revenue

KUWAIT: National Mobile Telecommunications Company — NMTC (Ooredoo) yesterday announced its financial results for the year of2014: * Total customer base increased to 23.2 million at the close of 2014, versus 19.9 million for the same period in 2013, amounting to growth of 16.4percent. * Revenues for year of 2014 amounted to KD 748.5 million […]

Burgan Bank Group announces 2014 earnings

Posted by on 23/02/2015
Filed under Business

Burgan Bank Group announces 2014 earnings

Burgan Bank Group announces 2014 earnings

KUWAIT: Burgan Bank Group announced yesterday its financial year2014 results. A solid operating & financial performance continues reflecting a faster than market growth almost in all indicators and mirroring the soundness of Burgan Bank’s resilient business model. Compared to the same period last year, Operating income grew by 9percent from KD253.6 million to KD 275.7 […]

Eurotech participates in KIHSE 2015; Oil minister visits Eurotech stand

Posted by on 23/02/2015
Filed under Business

Eurotech participates in KIHSE 2015; Oil minister visits Eurotech stand

Eurotech participates in KIHSE 2015; Oil minister visits Eurotech stand

KUWAIT: Eurotech, the leading consulting and training company in the region concluded its participation at the Middle East’s most prestigious Health, Safety and Environment Conference and Exhibition (KIHSE 2015) as the main training partner, that was held on the 16 and 17 of February, under the patronage of Dr Ali Saleh Al-Omair, Minister of Oil […]

Kuwait’s inflation rate up 2.81% in Jan

Posted by on 22/02/2015
Filed under Business, Kuwait, Other News

Kuwait’s inflation rate up 2.81% in Jan

Kuwait’s inflation rate up 2.81% in Jan

KUWAIT: Kuwait’s consumer prices index (CPI) or inflation rate rose in January 2015 by 2.81 percent compared to the same month of last year, the Central Statistical Bureau (CSB) announced yesterday. The CSB, however, stated in its monthly report that the inflation rate dropped by 0.07 percent in January 2015 vis-a-vis December 2014 as a […]

AUB reports $482.5m net profit for 2014 – Bank’s operating income crosses $1 billion

Posted by on 22/02/2015
Filed under Business

AUB reports $482.5m net profit for 2014 – Bank’s operating income crosses $1 billion

AUB reports $482.5m net profit for 2014 – Bank’s operating income crosses $1 billion

KUWAIT: Ahli United Bank BSC (AUB) reported a record net profit attributable to its equity shareholders of $482.5 million for the year 2014, a growth of 31.7 percent compared with the net profit of $366.5 million in 2013. The overall 2013 net profit of $$579.4 million included an exceptional non-recurring gain of $212.9 million from […]

Emerging Asia will benefit from current oil price levels

Posted by on 22/02/2015
Filed under Business

Emerging Asia will benefit from current oil price levels

Emerging Asia will benefit from current oil price levels

KUWAIT: Global inflation is at the lowest since the global financial crisis. In the last quarter of 2014, the world consumer price index (CPI) rose 2.8 percent YoY, compared with 3.6 percent on average in 2013, 4.0 percent in 2012 and 4.8 percent in 2011. The downward trend in global inflation in the last few […]

Al-Tijaria achieves a net profit of KD 18,922,382 with 26% growth rate

Posted by on 22/02/2015
Filed under Business

Al-Tijaria achieves a net profit of KD 18,922,382 with 26% growth rate

Al-Tijaria achieves a net profit of KD 18,922,382 with 26% growth rate

KUWAIT: Abdulfatah M R Marafie, Chairman of Al-Tijaria Real Estate Company, has stated that the business outcome of the company for the financial year ended on 31.12.2014 resulted in achieving net profits of KD 18,922,382 with an increase of 26 percent compared to the year 2013.The Earning per shares (EPS) of the share increased by […]

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