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Iron ore miners battle for survival as ‘perfect storm’ hits

Posted by on 17/09/2014
Filed under Business, Top Stories

Iron ore miners battle for survival as ‘perfect storm’ hits

Iron ore miners battle for survival as ‘perfect storm’ hits

  SYDNEY: High-cost Australian miners are battling for survival as plunging iron ore prices push many to breaking point, with analysts seeing no significant short-term recovery as Chinese demand for steel wanes in line with sliding property prices. Australia, the world’s largest exporter of iron ore, is heavily dependent on China’s hunger for resources even […]

Xi to launch $1.4bn port city in S Lanka – China to enhance cooperation in maritime, business

Posted by on 16/09/2014
Filed under Asia, Business, Subcontinent, World

Xi to launch $1.4bn port city in S Lanka – China to enhance cooperation in maritime, business

Xi to launch $1.4bn port city in S Lanka – China to enhance cooperation in maritime, business

COLOMBO: Chinese President Xi Jinping arrived in Sri Lanka yesterday to launch construction of a Beijing-funded $1.4 billion port city and seek closer defence ties that could provoke unease in neighbouring India. China is increasingly asserting its influence in the Indian Ocean, with Sri Lanka a midway point on one of the world’s busiest international […]

URC is real estate partner of OXAdventure

Posted by on 16/09/2014
Filed under Business

URC is real estate partner of OXAdventure

URC is real estate partner of OXAdventure

KUWAIT: United Real Estate Company (URC), the MENA region’s leading real estate developer, announced its role as the Real Estate Partner of ‘OXAdventure’, a non-profit organizationthat seeks community development projects abroad in partnerships with local,non-profit associations in countries of need. The organization provides a platform for which youth cancontribute, volunteer and learn from experience. ‘OXRwanda’ […]

KIB ATMs become Kuwait’s first to accept new bank notes

Posted by on 16/09/2014
Filed under Business, Kuwait, Other News

KIB ATMs become Kuwait’s first to accept new bank notes

KIB ATMs become Kuwait’s first to accept new bank notes

KUWAIT: Kuwait International Bank customers can now deposit their new Kuwaiti bank notes through ATMs at the bank’s main headquarters, Daiya branch and Al-Zahra branch according to Khaled Falah Al-Ali, GM of KIB’s Retail Banking Unit. Al-Ali explained that in addition to the three-mentioned locations, more ATMs will follow suit in the coming period. The […]

India inflation slows to five-year low in August

Posted by on 15/09/2014
Filed under Business

India inflation slows to five-year low in August

India inflation slows to five-year low in August

MUMBAI: India’s wholesale price inflation slowed to its lowest level in almost five years in August, data showed yesterday, after the right-wing government came to power pledging to wrestle down crippling prices. The Wholesale Price Index increased 3.74 percent year on year-far below market forecasts of around 4.40 percent-and sharply lower from 5.19 percent last […]

Air France pilots’ strike halts flights, hits shares

Posted by on 15/09/2014
Filed under Business

Air France pilots’ strike halts flights, hits shares

Air France pilots’ strike halts flights, hits shares

PARIS/FRANKFURT: Pilots at Franco-Dutch airline Air France-KLM began a one-week strike at the French arm of the business over plans to cut costs, halting more than half of its flights yesterday and sending the group’s shares down more than 3 percent. Air France said on its web site it expected to operate 48 percent of […]

Joyalukkas Exchange picks first set of ‘The Festival of Fortune’ promotion winners

Posted by on 15/09/2014
Filed under Business

Joyalukkas Exchange picks first set of ‘The Festival of Fortune’ promotion winners

Joyalukkas Exchange picks first set of ‘The Festival of Fortune’ promotion winners

KUWAIT: Joyalukkas Exchange, the money exchange service business division of the Joyalukkas Group, has gained popularity across the GCC through its best rates, quick money transfers, excellent service and innovative financial services. The popular money exchange has picked 10 winners from the first draw of their ongoing ‘The Festival of Fortune’ promotion. The rewarding promotion […]

Class act on the way from The Big 5 Kuwait

Posted by on 15/09/2014
Filed under Business

Class act on the way from The Big 5 Kuwait

Class act on the way from The Big 5 Kuwait

KUWAIT: Visitors to The Big 5 Kuwait will get more than they bargain for at a typical trade show, thanks to a host of new educational features introduced by organizer, dmg events Middle East. Working in conjunction with its local partner, Kuwait International Fairs, the company has added three knowledge events to its show program, […]

Gold prices continue falling

Posted by on 14/09/2014
Filed under Business, Kuwait, Other News

Gold prices continue falling

Gold prices continue falling

KUWAIT: Gold prices continued dropping during the past week reaching USD 1,232 per ounce amid continuous hike of the US dollar. Chief Executive Officer of Sabaek company Rajab Hamed told KUNA positive reports about American markets negatively affected the gold and pushed the USD to highest levels since July 2013. He forecast continuous fall of […]

Oil prices soften on excess supply, receding Iraq fears

Posted by on 14/09/2014
Filed under Business

Oil prices soften on excess supply, receding Iraq fears

Oil prices soften on excess supply, receding Iraq fears

KUWAIT: By the end of August, international oil prices had declined for the second month as markets readjusted to excess supply, weakening global demand and overblown fears about potential supply disruptions caused by the conflicts in Iraq, Libya and Ukraine. Having hit 13- month lows during August, Brent crude finished the month at just below […]

Kuwait’s real estate liquidity drops

Posted by on 14/09/2014
Filed under Business

Kuwait’s real estate liquidity drops

Kuwait’s real estate liquidity drops

KUWAIT: According to the latest data available in the Ministry of Justice -the Real Estate Registration and Authentication Department- there is a decline in the liquidity of the real estate market in August 2014 vis-a-vis liquidity in July 2014. Total value of traded contracts and agencies scored about KD 259.6 million, which is less by […]

All clients are VIPs with FASTtelco

Posted by on 14/09/2014
Filed under Business

All clients are VIPs with FASTtelco

All clients are VIPs with FASTtelco

KUWAIT: The corporate management of FASTtelco, the leading telecommunication service provider is systematically providing best services to its corporate clients to meet their expectations and demands. The team works to ensure client’s satisfaction and smooth business delivery. Starting in 2001, FASTtelco has succeeded to assume the leading position in the Kuwaiti telecommunication market. Within short […]

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