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Australia axes mining tax – Australia’s central bank keeps rates at 2.5%

Posted by on 02/09/2014
Filed under Business

Australia axes mining tax – Australia’s central bank keeps rates at 2.5%

Australia axes mining tax – Australia’s central bank keeps rates at 2.5%

SYDNEY: Australia yesterday agreed to scrap a contested resources profits tax after the government struck a surprise deal with crossbench senators, including mining tycoon Clive Palmer.  The Minerals Resource Rent Tax (MRRT) was introduced by the previous Labor administration in 2012, with a levy on annual profits above Aus$75 million (US$70 million) on iron ore […]

Modi promises red carpet for Japan firms in India – Modi eyes investments worth billions

Posted by on 02/09/2014
Filed under Business, Subcontinent, World

Modi promises red carpet for Japan firms in India – Modi eyes investments worth billions

Modi promises red carpet for Japan firms in India – Modi eyes investments worth billions

TOKYO: Indian Prime Minister Narendra Modi is wooing Japanese businesses with a promise of “red carpet” treatment rather than the bureaucratic red tape that India is notorious for. India is the best possible investment destination, offering “democracy, demography and demand” in its market of nearly 1.3 billion people, Modi told Japanese business leaders yesterday. “I […]

Al-Khair Capital Plus Sukuk Fund launched

Posted by on 02/09/2014
Filed under Business

Al-Khair Capital Plus Sukuk Fund launched

Al-Khair Capital Plus Sukuk Fund launched

KUWAIT: Al-Khair Capital Saudi Arabia, the leading Saudi-based investments institution, has launched the Al-Khair Capital Plus Sukuk Fund on June 1, 2014; its open-ended, Shariacompliant investment fund for investment in fixed income markets. The fund is aimed at generating regular income as well as achieving capital appreciation by investing in globally- diversified fixed income securities. […]

China to buy a larger share of GCC’s exports – Kuwait trying to gain access to China fuel market

Posted by on 01/09/2014
Filed under Business

China to buy a larger share of GCC’s exports – Kuwait trying to gain access to China fuel market

China to buy a larger share of GCC’s exports – Kuwait trying to gain access to China fuel market

KUWAIT: The relationship between China and the Gulf countries can only go one way. China’s future depends on the capacity of the Gulf Cooperation Council (GCC) to provide a steady flow of oil for the next decades, and the Gulf countries will not find a similar source of rising demand in the years to come. […]

Kuwait’s consumer price index eases to 2.9%

Posted by on 01/09/2014
Filed under Business

Kuwait’s consumer price index eases to 2.9%

Kuwait’s consumer price index eases to 2.9%

KUWAIT: Inflation in the consumer price index (CPI) eased from 2.9 percent year-on-year in June, to 2.7 percent y/y in July, amid a slowdown across most sectors. Core inflation has outstripped the headline inflation rate for three months now on housing price pressures. Higher international food prices are expected to apply some upward pressure on […]

Emirates ‘not interested in Qantas investment’

Posted by on 01/09/2014
Filed under Business

Emirates ‘not interested in Qantas investment’

Emirates ‘not interested in Qantas investment’

FRANKFURT: Airline Emirates is not interested in investing in the international operations of Qantas, the Dubai-based carrier’s chief commercial officer (CCO) said yesterday. In the biggest restructuring step since Qantas was privatized two decades ago, the airline is hiving off its international arm from its domestic business. The move will allow a foreign airline to […]

Weak investment, trade drive Q2 contraction in Germany – German data reflect sickly growth in euro-zone

Posted by on 01/09/2014
Filed under Business

Weak investment, trade drive Q2 contraction in Germany – German data reflect sickly growth in euro-zone

Weak investment, trade drive Q2 contraction in Germany – German data reflect sickly growth in euro-zone

BERLIN: Weak investment spending and slow trade led Germany to contract for the first time in over a year in the second quarter, data showed, suggesting Europe’s largest economy is running out of steam just as the impact of the crisis in Ukraine starts to bite. Germany’s Federal Statistics Office confirmed yesterday an earlier estimate […]

Malabar Group ventures into branded furniture business

Posted by on 01/09/2014
Filed under Business

Malabar Group ventures into branded furniture business

Malabar Group ventures into branded furniture business

KUWAIT: Malabar Group, one of the leading corporate entities announced its plans to diversify into branded furniture business by launching its first showroom- ‘EHAM’ in R P Mall, Kollam on September 20, 2014. The official logo of EHAM was launched by P K Kunjalikkutty, State Minister for Industries & IT in Calicut, Kerala on August […]

Emaar to launch malls unit IPO in Sept – Payout totaling $2.45 billion to shareholders

Posted by on 31/08/2014
Filed under Business

Emaar to launch malls unit IPO in Sept – Payout totaling $2.45 billion to shareholders

Emaar to launch malls unit IPO in Sept – Payout totaling $2.45 billion to shareholders

DUBAI: Emaar Properties will launch its highly anticipated initial public offer of at least 15 percent of its shopping malls and retailing unit on Dubai’s main stock market in September, and plans to list the shares in October. The offer would be one of the largest equity sales in the Middle East since 2008, underlining […]

Oil prices will not fall below $100-mark in 2014: Expert

Posted by on 31/08/2014
Filed under Business

Oil prices will not fall below $100-mark in 2014: Expert

Oil prices will not fall below $100-mark in 2014: Expert

KUWAIT: There should be no anxiety over the global price of oil for the rest of 2014, predicted an expert, who viewed that prices would not fall below the $100 mark in spite of their recent drop below that. The recent drop as Kuwaiti crude slid by 64 cents to $99.14 a barrel is attributed […]

KBT concludes capital reduction successfully

Posted by on 31/08/2014
Filed under Business

KBT concludes capital reduction successfully

KBT concludes capital reduction successfully

KUWAIT: Kuwait Business Town Real Estate Company (KBT) is one of the leading real estate companies in Kuwait. The company was established in 1999 and was publically listed on the Kuwait Stock Exchange on Dec 16, 2008. KBT is head quartered in Kuwait with current operations mainly in Kuwait and the United Arab Emirates. KBT […]

Flydubai reaches milestone 80 destinations – with addition of 3 new routes in East Africa

Posted by on 31/08/2014
Filed under Business

Flydubai reaches milestone 80 destinations – with addition of 3 new routes in East Africa

Flydubai reaches milestone 80 destinations – with addition of 3 new routes in East Africa

KUWAIT: Dubai-based flydubai yesterday announced the addition of three new East African routes, bringing the total number of destinations in the carrier’s network to 80. With the launch of flights in September 2014 to Bujumbura in Burundi, Entebbe in Uganda and Kigali in Rwanda, flydubai will fly to nine destinations in Africa. Commenting on the […]

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