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Qatar seeks 10% stake in American Airlines

Posted by on 22/06/2017
Filed under America, Business, Top Stories, World

Qatar seeks 10% stake in American Airlines

Qatar seeks 10% stake in American Airlines

Bid unsolicited, but CEOs of both airlines have spoken NEW YORK: State-owned Qatar Airways is attempting to buy a 10 percent stake in American Airlines, triggering US antitrust oversight of deals that size. American said in a regulatory filing yesterday that the bid was unsolicited, but that the CEOs of both airlines have spoken. Qatar […]

Gulf countries prepare for VAT in time of crisis

Posted by on 21/06/2017
Filed under Business, Middle East, World

Gulf countries prepare for VAT in time of crisis

Gulf countries prepare for VAT in time of crisis

UBAI: Oil-rich Gulf countries, which for decades have attracted millions of foreign workers thanks to their reputation as tax-free havens, aim to introduce value-added tax in 2018 to plug budget gaps. On top of administrative and technical hurdles, however, the project now faces an unprecedented diplomatic crisis after Saudi Arabia, the United Arab Emirates and […]

India switches to single tax

Posted by on 21/06/2017
Filed under Business, Subcontinent, Top Stories, World

India switches to single tax

India switches to single tax

Shopkeepers rushing to comply with changes NEW DELHI: The daily bustle of tourists and shoppers has died down in an upscale market in central New Delhi, but a toy shop owner is still busy poring over new Indian tax rules that take effect next month. The new tax regime – replacing a messy mix of […]

Kuwait-backed movie theme park loses Hollywood partner

Kuwait-backed movie theme park loses Hollywood partner

Posted by on 21/06/2017
Filed under Business

Kuwait-backed movie theme park loses Hollywood partner

KUWAIT: A Kuwait-backed movie theme park planned for southern England has parted ways with its Hollywood movie partner. London Resort Company Holdings (LRCH) launched plans for the London Paramount Entertainment Resort in October 2012. Located on an 872-acre site on Kent’s Swanscombe peninsula, around 17 minutes by train from central London, the $3.2 billion project […]

Travel hub Qatar cut off from local routes

Posted by on 20/06/2017
Filed under Business, Middle East, Top Stories, World

Travel hub Qatar cut off from local routes

Travel hub Qatar cut off from local routes

FLYING OVER THE PERSIAN GULF: Sitting on an airplane from Qatar trying to get home to Dubai, I could only watch frustrated as a scrolling map showed my flight pass overhead of my skyscraper-studded city and continue further east. It’s typically an hour flight between Dubai in the United Arab Emirates and Doha, the capital […]

Ex-Barclays CEO charged with fraud

Posted by on 20/06/2017
Filed under Business

Ex-Barclays CEO charged with fraud

Ex-Barclays CEO charged with fraud

Charges linked to emergency Qatar funding LONDON: Britain’s Serious Fraud Office said yesterday it had charged Barclays, a former chief executive of the banking giant and three other ex-managers, with “conspiracy to commit fraud” linked to emergency fundraising from Qatar during the financial crisis. The SFO added in a statement that former chief executive John […]

Qatar Airways Showcases Award Winning Qsuite at Paris Air Show

Posted by on 20/06/2017
Filed under Business

Qatar Airways Showcases Award Winning Qsuite at Paris Air Show

Qatar Airways Showcases Award Winning Qsuite at Paris Air Show

PARIS: Qatar Airways captured the spotlight on the first day of the Paris Air Show, where it showcased the first of its aircraft fitted with its spectacular state-of-the-art and award-winning Business Class seat, Qsuite. A senior Qatari delegation led by Qatar’s Minister of Transport and Communications, His Excellency Jassim Saif Al Sulaiti, joined Qatar Airways […]

Qatar Airways CEO warns of lasting wound

Posted by on 19/06/2017
Filed under Business, Middle East, World

Qatar Airways CEO warns of lasting wound

Qatar Airways CEO warns of lasting wound

PARIS: The CEO of Qatar Airways says the blockade imposed on his country by Gulf neighbors “will leave a lasting wound.” Speaking yesterday at the Paris Air Show, Akbar Al Baker said: “People will not forget.”Al Baker said he expects US President Donald Trump will intervene “to make sure that this blockade is lifted soonest…especially […]

BRICS meeting highlights climate change, trade, terrorism

Posted by on 19/06/2017
Filed under Business

BRICS meeting highlights climate change, trade, terrorism

BRICS meeting highlights climate change, trade, terrorism

BEIJING: Climate change, trade and terrorism were high on the agenda yesterday at a Beijing meeting of foreign affairs officials from Brazil, Russia, India, China and South Africa, known collectively as the BRICS nations. The five countries are seeking to further align their views on key issues at a time when President Donald Trump is […]

Sales reach high levels in the last 29 months

Posted by on 19/06/2017
Filed under Business

Sales reach high levels in the last 29 months

Sales reach high levels in the last 29 months

Kuwait Real Estate Market Report KUWAIT: Kuwait’s real estate market sales (contracts and power of attorneys) increased significantly during the month of May 2017. Total sales reached its highest levels yet since December 2014,increasing by 150 percent compared to April 2017, and by 63 percent compared to May 2016, thereby reaching KD 370 million. The […]

Lockheed signs pact with Tata to make F-16 planes in India

Posted by on 19/06/2017
Filed under Business, Subcontinent, Top Stories, World

Lockheed signs pact with Tata to make F-16 planes in India

Lockheed signs pact with Tata to make F-16 planes in India

PARIS: Lockheed Martin signed an agreement with India’s Tata Advanced Systems yesterday to produce F-16 fighter planes in India, pressing ahead with a plan to shift its Fort Worth, Texas plant to win billions of dollars worth of order from the Indian military. India’s air force needs hundreds of aircraft to replace its Soviet-era fleet, […]

Dutch firm aims to deliver first flying car next year

Posted by on 18/06/2017
Filed under Business, Technology

Dutch firm aims to deliver first flying car next year

Dutch firm aims to deliver first flying car next year

RAAMSDONKSVEER: From “The Jetsons” to “Chitty Chitty Bang Bang”, flying cars have long captured the imagination. While several futuristic projects are under way in different countries, a Dutch design may be the first one sold and soaring into the skies. After years of testing, the PAL-V company aims to pip its competitors to the post. […]

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