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Tech giant buys Souq.com after $800m counteroffer

Posted by on 28/03/2017
Filed under Business

Tech giant buys Souq.com after $800m counteroffer

Tech giant buys Souq.com after $800m counteroffer

Amazon expands global reach DUBAI: Tech giant Amazon expanded its global reach yesterday with the announcement of a deal to buy Dubai-based Souq.com, the Middle East’s largest online retailer. The agreement, the financial details of which were not disclosed, brings Amazon into a fast-growing market as it continues to invest in its core retail network […]

Britain’s new pound coin enters circulation

Posted by on 28/03/2017
Filed under Business

Britain’s new pound coin enters circulation

Britain’s new pound coin enters circulation

LONDON: Britain’s new £1 coin with the symbols of England, Scotland, Wales and Northern Ireland goes into circulation from yesterday on the eve of the launch of a Brexit process that has put national unity in doubt. The 12-sided coin is the first change to the shape of the £1 coin since its introduction in […]

Qatar to invest 5bn pounds in UK over 3-5 years

Posted by on 28/03/2017
Filed under Business, Europe, Middle East, Top Stories, World

Qatar to invest 5bn pounds in UK over 3-5 years

Qatar to invest 5bn pounds in UK over 3-5 years

Doha eyes more gas supplies to Britain after Brexit DUBAI: The energy-rich nation of Qatar says it plans to invest 5 billion pounds in the British economy within the next half decade. Prime Minister Abdullah bin Nasser Al-Thani announced the $6.3 billion investment at an investment forum in London. He said the outlay would come […]

Court of Appeal instructs Ministry of Industry and Commerce to register Alghanim Auto as the Ford distributor

Posted by on 28/03/2017
Filed under Business

Court of Appeal instructs Ministry of Industry and Commerce to  register Alghanim Auto as the Ford distributor

Court of Appeal instructs Ministry of Industry and Commerce to register Alghanim Auto as the Ford distributor

KUWAIT: The administrative Court of Appeal affirmed a first instance judgment in favor of Alghanim Auto confirming the validity of its registration with the Ministry of Industry and Commerce as a Ford distributor in Kuwait. The judgment dated March 27, 2017 reinstates Alghanim Auto’s registration as an officially authorized distributor of Ford vehicles and products […]

Kuwait’s trade surplus drops to 11-year low – NBK Economic Update

Posted by on 28/03/2017
Filed under Business

Kuwait’s trade surplus drops to 11-year low – NBK Economic Update

Kuwait’s trade surplus drops to 11-year low – NBK Economic Update

KUWAIT: Kuwait’s trade surplus retreated to an 11-year low of KD 4.7 billion in 2016 or 14 percent of GDP, as oil export earnings remained weak against a backdrop of limited import growth. Oil export revenues continued to be weighed down by lower oil prices, though we expect them to pick up in 2017 amid […]

Drop in oil prices poses risk to primary industries: KPC CEO

Posted by on 27/03/2017
Filed under Business, Kuwait, Other News

Drop in oil prices poses risk to primary industries: KPC CEO

Drop in oil prices poses risk to primary industries: KPC CEO

KUWAIT: The drop in oil prices is posing risks on investment, mainly in primary industry which could create unstable conditions in international markets, said CEO of Kuwait Petroleum Corporation (KPC).  Nezar Al-Adsani’s statement came during his speech at Kuwait’s fourth Enterprise Risk Management Conference yesterday. The three-day conference aims to bring awareness towards risks inside […]

Economic Solutions: Tax Enforcement

Posted by on 27/03/2017
Filed under Business

Economic Solutions: Tax Enforcement

Economic Solutions: Tax Enforcement

The main reason for arguing on the need for taxation and its efficiency is the income from oil, the for Kuwait’s wealth. By now, the country has been an important exporter of the black gold for several decades, and such a fact allowed the state to get the foreign companies interested in investing. Thus, the […]

Brexit job fears stalk UK’s financial centers

Posted by on 27/03/2017
Filed under Business

Brexit job fears stalk UK’s financial centers

Brexit job fears stalk UK’s financial centers

‘Business are going to pull out, there will be a lot of job losses’ MANCHESTER: Worries are whirring in Britain’s smaller financial centers-which together employ far more people than the glamorous City of London-that the looming EU departure will lead to heavy job losses. In Manchester’s buzzing finance district of Spinningfields, a worker at an […]

Housing Minister, Chinese Company ink infrastructure contract for South Mutlaa

Posted by on 26/03/2017
Filed under Business, Kuwait, Other News

Housing Minister, Chinese Company ink infrastructure contract for South Mutlaa

Housing Minister, Chinese Company ink infrastructure contract for South Mutlaa

KUWAIT: Minister of State for Housing Affairs and Minister of State for Utilities Yasser Abul signed yesterday a contract with a Chinese company for constructing the infrastructure for 18,519 lots of land in South Al-Mutlaa City project. The contract, worth KD 215.8 million (about $712.14 million), also covers the sub-power plants for eight neighborhoods in […]

CMA conference discusses challenges and aspirations

Posted by on 26/03/2017
Filed under Business

CMA conference discusses challenges and aspirations

CMA conference discusses challenges and aspirations

Brokerage firms, investment companies, bank staff attend forum KUWAIT: The Capital Markets Authority (CMA) held its second annual conference titled ‘Capital Markets’ Development in the State of Kuwait’ yesterday, attended by representatives of brokerage companies, investment companies, bank employees and other related staff. Dr Nayef Al-Hajraf, Chairman of the Board of Commissioners of CMA, welcomed […]

Markets under pressure as Trump tastes first defeat – NBK MONEY MARKETS REPORT

Posted by on 26/03/2017
Filed under Business

Markets under pressure as Trump tastes first defeat –  NBK MONEY MARKETS REPORT

Markets under pressure as Trump tastes first defeat – NBK MONEY MARKETS REPORT

KUWAIT: During the first quarter of 2017, the FOMC raised interest rates while expressing optimism about the outlook of the US economy and signaling continuous gradual rates hikes in 2017. The message was perceived as if the Fed gave the green light to extend the risk assets rally based on additional fiscal stimulus hopes, potential […]

777-300ERs a game-changer for KAC

Posted by on 25/03/2017
Filed under Business, Top Stories

777-300ERs a game-changer for KAC

777-300ERs a game-changer for KAC

KUWAIT: Kuwait has embarked on a new direction by realigning its vision on growth and development, especially in the aviation sector, which will pay dividends for the country, said a top Boeing official on the sidelines of a defense conference. In an exclusive interview with Kuwait Times, Bernard J Dunn, President of Boeing, Middle East, […]

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