EU wants big companies to reveal national tax bills
Posted by Kuwait Times on 23/05/2013
Filed under Business
EU wants big companies to reveal national tax bills
BRUSSELS: Europe’s top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance. Michel Barnier, the European commissioner in charge of drafting business regulation, said in a speech in Amsterdam that rules which will force [...]
Shares sink on US stimulus pullback – Weak Chinese factory, euro-zone data add to concerns
Posted by Kuwait Times on 23/05/2013
Filed under Asia, Business
Shares sink on US stimulus pullback – Weak Chinese factory, euro-zone data add to concerns
LONDON: Share markets fell sharply yesterday as investors piled back into safer assets, unnerved by the twin setbacks of unexpected weakness in China’s economy and signals that the US central bank may soon scale back its stimulus program. The yen bounced sharply off recent lows and German Bunds rose, gaining support from a shift in [...]
‘Hijabers’ buy into Islamic economy – Call to rename Valentine’s Day to Hijab Day
Posted by Kuwait Times on 23/05/2013
Filed under Business, Fashion, Subcontinent, Top Stories
‘Hijabers’ buy into Islamic economy – Call to rename Valentine’s Day to Hijab Day
JAKARTA: Indonesian event organizer Risti Rahmadi wears an Islamic headscarf, uses halal lipstick and knows that it’s time to pray when an app on her BlackBerry emits Quranic verses five times a day. The 37-year-old, who in her 20s would save up for the latest Guess clothes and Revlon make-up, now strictly buys products that [...]
Companies Law amendments bolster foreign investments – Establishing a company made faster, easier
Posted by Kuwait Times on 22/05/2013
Filed under Business
Companies Law amendments bolster foreign investments – Establishing a company made faster, easier
KUWAIT: The amendments to the new companies’ law provide a friendlier and more relaxed environment for foreign investors. As per the new law, it will be now possible to establish a public company within a month’s time. According to Rob Little, Partner with ASAR – Al-Ruwayeh & Partners law firm, it will now take a [...]
Oil savings win-win drives Saudi solar boom – Solar could cost much less than half oil fired power
Posted by Kuwait Times on 22/05/2013
Filed under Business, Middle East, Top Stories
Oil savings win-win drives Saudi solar boom – Solar could cost much less than half oil fired power
DUBAI: A slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost. Riyadh plans to install 41,000 megawatts (MW) of solar power [...]
Explore colorful Ethiopia – tourist paradise – Ethiopian Airlines, Embassy woo tourists
Posted by Kuwait Times on 22/05/2013
Filed under Africa, Business, Lifestyle, Top Stories
Explore colorful Ethiopia – tourist paradise – Ethiopian Airlines, Embassy woo tourists
KUWAIT: Kuwaitis and expatriates have been urged to explore and tap into the Ethiopia’s natural beauty as the Ethiopian Embassy and Ethiopian Airlines (EAL) unveiled their packages for this year’s summer. Speaking at the ‘Ethiopian Travel and Tourism’ seminar held on Tuesday, the Ambassador, HE Mohamed Gudeta described Ethiopia as a tourist paradise and the [...]
ITS restructures to face new business dynamics
Posted by Kuwait Times on 22/05/2013
Filed under Business
ITS restructures to face new business dynamics
KUWAIT: ITS (International Turnkey Systems) Group, a leading solution provider for both Islamic and conventional banks, yesterday announced a ‘transformative’ restructuring of its business focus, organization model, processes and product positioning to meet new macroeconomic realities and prepare the company to embark on a profitable growth journey from 2013 onwards. The announcement today comes on [...]
Halal food production on rise in Balkans – Young market with important purchasing power
Posted by Kuwait Times on 21/05/2013
Filed under Business, Europe, Top Stories
Halal food production on rise in Balkans – Young market with important purchasing power
SARAJEVO: Trying to fight back against the persistent economic crisis in the Balkans, food producers here have turned towards halal food, targeting rising demand from markets in Western and Muslim countries. At a recent three-day halal food fair in the Bosnian capital, the first of its kind in the Balkans, some 30 producers from the [...]
Al Babtain Group honors its best employees
Posted by Kuwait Times on 21/05/2013
Filed under Business
Al Babtain Group honors its best employees
KUWAIT: In the presence of Saleh Al Babtain, CEO of Al Babtain Group, and Mohamad Shalaby, Group Chief Operations Officer, Al Babtain Group organized a rewarding ceremony for its managers and best employees in the company. The event was organized at Al Rai Nissan Showroom on Friday 10th May and marked by the participation of [...]
Zain Group, GENBAND seal deal
Posted by Kuwait Times on 21/05/2013
Filed under Business
Zain Group, GENBAND seal deal
KUWAIT: Zain Group, a pioneer in mobile telecommunications across 8 markets in the Middle East and North Africa, yesterday announced its selection of GENBAND, a leading developer of multimedia and cloud communications solutions, to support the launch of its IP eXchange (IPX) interconnect and wholesale voice operation. The solutions will enhance Zain’s mobile operations to [...]
Dollar firms as US Federal Reserve suspense builds
Posted by Kuwait Times on 21/05/2013
Filed under Business, Top Stories
Dollar firms as US Federal Reserve suspense builds
LONDON: The dollar edged up, gold steadied and European shares held near five-year highs yesterday as investors look out for US Federal Reserve signals on the future of its stimulus program. Upbeat comments from Chicago policymaker Charles Evans have made today’s release of minutes of the US central bank’s last meeting and Fed chairman [...]