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GCC food industries’ investments border on $24bn – GOIC INDUSTRIAL REPORT

Posted by on 12/07/2015
Filed under Business

GCC food industries’ investments border on $24bn – GOIC INDUSTRIAL REPORT

GCC food industries’ investments border on $24bn – GOIC INDUSTRIAL REPORT

KUWAIT: The Gulf Organization for Industrial Consulting (GOIC) announced that the number of factories operating in the GCC food industries sector increased from 1606 in 2010 to 1965 in 2014, a compound annual growth rate (CAGR) of 5.2 percent. During the same period, investments jumped from $13.688 billion to $23.757 billion, a five-year CAGR of […]

Greeks face judgment day in Brussels – Tsipras wins parliament approval for bailout proposals

Posted by on 11/07/2015
Filed under Business, Top Stories

Greeks face judgment day in Brussels – Tsipras wins parliament approval for bailout proposals

Greeks face judgment day in Brussels – Tsipras wins parliament approval for bailout proposals

BRUSSELS: After swaying a skeptical parliament to back a harsh austerity package to stave off financial collapse, the Greek government yesterday faced an uphill task of persuading its international creditors that it could be trusted to enact the reform promises in full. Finance ministers and top officials of the euro-zone arriving for a key meeting […]

Kuwait fiscal reserves hit record $592 bn: Report

Kuwait fiscal reserves hit record $592 bn: Report

Posted by on 09/07/2015
Filed under Business, Kuwait, Other News

Kuwait fiscal reserves hit record $592 bn: Report

KUWAIT: Kuwait’s financial reserves defied a slump in oil prices to hit a record 179.2 billion dinars ($592 billion) at the end of the 2014-15 financial year, a report said yesterday. They grew by $53 billion in the year to March 31, Al-Qabas newspaper reported, citing figures released by Finance Minister Anas Al- Saleh to […]

Greece racing against time to finalize reforms – Desperate bid to stave off catastrophic exit from Europe

Posted by on 09/07/2015
Filed under Business, Europe, Top Stories, World

Greece racing against time to finalize reforms – Desperate bid to stave off catastrophic exit from Europe

Greece racing against time to finalize reforms – Desperate bid to stave off catastrophic exit from Europe

China stocks edge higher on government moves – Dealers wonder if the gains would last

Posted by on 09/07/2015
Filed under Business

China stocks edge higher on government moves – Dealers wonder if the gains would last

China stocks edge higher on government moves – Dealers wonder if the gains would last

SHANGHAI: Chinese stocks stormed into positive territory in volatile trade yesterday as Beijing launched new measures to halt a dramatic sell-off, prompting Asian markets to rebound, but dealers questioned whether the gains would last. The main Shanghai Composite Index had fallen more than 30 percent since a spectacular bull run peaked on June 12, raising […]

Britain slashes spending in new austerity drive – Osborne promises to save $57bn in fiscal consolidation

Posted by on 08/07/2015
Filed under Business, Europe, Top Stories, World

Britain slashes spending in new austerity drive – Osborne promises to save $57bn in fiscal consolidation

Britain slashes spending in new austerity drive – Osborne promises to save $57bn in fiscal consolidation

GCC markets outperform peers in Q2 2015 – NBK ECONOMIC REPORT

Posted by on 08/07/2015
Filed under Business

GCC markets outperform peers in Q2 2015 – NBK ECONOMIC REPORT

GCC markets outperform peers in Q2 2015 – NBK ECONOMIC REPORT

KUWAIT: Most regional markets rallied in 2Q15 led by a strong performance by the UAE markets. Following a strong market correction that was triggered by the drop in oil prices late last year and that extended well into 1Q15, most regional markets saw a notable rebound in 2Q15. Markets seem to have gained from stabilizing […]

Companies in Kuwait need to evolve: Expert

Posted by on 08/07/2015
Filed under Business

Companies in Kuwait need to evolve: Expert

Companies in Kuwait need to evolve: Expert

KUWAIT: Connectivity is driving a revolution in the way that companies address their IT needs. Gone are the days when businesses could operate from 8:00am to 5:00pm and still be successful. In today’s hyper competitive environment, the biggest challenge for businesses in Kuwait lies in becoming an Always- On Business, one that must operate 24 […]

VIVA, Microsoft announce direct operator billing for app purchases

Posted by on 08/07/2015
Filed under Business

VIVA, Microsoft announce direct operator billing for app purchases

VIVA, Microsoft announce direct operator billing for app purchases

KUWAIT: VIVA, Kuwait’s fastest-growing and most developed telecom operator, and Microsoft yesterday announced a direct operator billing facility on Windows Store for Microsoft Lumia users. The unique initiative will enable VIVA customers to purchase apps from the Windows store without a credit card, and the same would be directly charged to their monthly post-paid bill […]

Submit new debt plan or leave: Europe tells Greece

Posted by on 07/07/2015
Filed under Business, Europe, World

Submit new debt plan or leave: Europe tells Greece

Submit new debt plan or leave: Europe tells Greece

BRUSSELS: European leaders warned Greek Prime Minister Alexis Tsipras to submit new bailout proposals at an emergency summit yesterday or risk leaving the euro, after Greeks defiantly voted ‘No’ to further austerity. The radical leftist leader will face his 18 euro-zone counterparts in Brussels as the country’s economy gasps for air, with banks closed until […]

Air Arabia enters 13th destination in Saudi Arabia with Tabuk service

Posted by on 07/07/2015
Filed under Business

Air Arabia enters 13th destination in Saudi Arabia with Tabuk service

Air Arabia enters 13th destination in Saudi Arabia with Tabuk service

SHARJAH: Air Arabia announced yesterday the launch of regular services to Tabuk, which marks the airline’s 13th destination in Saudi Arabia and 114thglobally. Starting July 30, 2015, the leading low-cost carrier will operate services on Tuesdays, Thursdays and Saturdays. Flights will leave Sharjah International Airport at 09:20 and reach Tabuk Regional Airport at 11:20. Return […]

All eyes on ECB after Greek ‘No’ – Difficult for bank to justify keeping lifeline open

Posted by on 06/07/2015
Filed under Business, Europe, World

All eyes on ECB after Greek ‘No’ – Difficult for bank to justify keeping lifeline open

All eyes on ECB after Greek ‘No’ – Difficult for bank to justify keeping lifeline open

FRANKFURT: All eyes turned to the European Central Bank yesterday following the resounding ‘No’ in Greece’s referendum, as it is seen as the only institution capable of stemming market panic and preventing the Greek economy from collapsing. In Sunday’s referendum, more than 61 percent of Greeks rejected creditor demands for further austerity in return for […]