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France’s Total quits Iran after sanctions

Posted by on 20/08/2018
Filed under Business, Top Stories

France’s Total quits Iran after sanctions

France’s Total quits Iran after sanctions

Zanganeh underlines the dire state of Iran’s oil and gas facilities TEHRAN: French energy giant Total has officially quit its multi-billion-dollar gas project in Iran, Oil Minister Bijan Namdar Zanganeh said yesterday, following the reimposition of US sanctions. “Total has officially left the agreement for the development of phase 11 of South Pars (gas field),” […]

Trade war puts new strains on America Inc’s factories in China

Posted by on 20/08/2018
Filed under Business, Top Stories

Trade war puts new strains on America Inc’s factories in China

Trade war puts new strains on America Inc’s factories in China

Entrepreneurs see profits whittling away by rising costs, tighter regulations SHENZHEN/SHANGHAI: Larry Sloven arrived in southern China three decades ago, just as the region was taking off as the low-cost manufacturing center of the world. Since then, he has exported millions of dollars of goods, ranging from power tools to LED lights, to some of […]

Iran: No OPEC member can take over its share

Posted by on 19/08/2018
Filed under Business, Middle East, World

Iran: No OPEC member can take over its share

Iran: No OPEC member can take over its share

Tehran seeks OPEC’s support against US sanctions LONDON: Iran told OPEC yesterday no member country should be allowed to take over another member’s share of oil exports, expressing Tehran’s concern about Saudi Arabia’s offer to pump more oil in the face of US sanctions on Iranian oil sales. In a meeting with OPEC Secretary-General Mohammad […]

‘Everything’s business’: Rohingya crisis offers earning opportunity

Posted by on 19/08/2018
Filed under Business, Subcontinent, Top Stories, World

‘Everything’s business’: Rohingya crisis offers earning opportunity

‘Everything’s business’: Rohingya crisis offers earning opportunity

Cox’s Bazar district hosts one million Rohingya from Myanmar TEKNAF, Bangladesh : Captain Min Min, a Buddhist from Myanmar, looks on as a stream of Muslim Rohingya laborers zig-zag up narrow gangplanks hauling sacks of ginger from his boat onto Bangladeshi soil-one of many seizing the economic opportunities presented by a refugee crisis. “I don’t […]

Bloodbath in emerging markets pushes dollar higher; euro firms

Posted by on 19/08/2018
Filed under Business

Bloodbath in emerging markets pushes dollar higher; euro firms

Bloodbath in emerging markets pushes dollar higher; euro firms

Turkey reassures investors over currency KUWAIT: The US dollar continued its upward momentum last week fueled by the bloodbath in emerging markets following the turmoil in Turkey. Though the US has limited exposure to Turkey, the recent volatility was spread to other parts of the world, especially emerging markets, and could heighten worries on US […]

Kuwait credit growth remains soft in Q2, picks up in June

Posted by on 18/08/2018
Filed under Business

Kuwait credit growth remains soft in Q2, picks up in June

Kuwait credit growth remains soft in Q2, picks up in June

Lending still lagging with only KD 0.8 billion borrowed in 1H18 KUWAIT: Credit saw its strongest month-on-month gain in two years in June, and finished 1H18 up 1.7 percent y/y from 0.8 percent in May. This followed seven consecutive months of declines affected by lackluster growth in business lending, slightly softer household borrowing and continued […]

NAS introduces Pearl Assist baggage delivery service at Kuwait Airport

Posted by on 18/08/2018
Filed under Business

NAS introduces Pearl Assist baggage delivery service at Kuwait Airport

NAS introduces Pearl Assist baggage delivery service at Kuwait Airport

Fast and reliable baggage delivery service from arrivals to passengers’ doorstep KUWAIT: National Aviation Services (NAS) has introduced the Pearl Assist Baggage Delivery Service at Kuwait International Airport. This service allows passengers arriving at the airport to have their luggage delivered to their doorstep allowing them to exit the airport faster without waiting for the […]

Turkey will emerge stronger: Minister

Posted by on 16/08/2018
Filed under Business, Middle East, World

Turkey will emerge stronger: Minister

Turkey will emerge stronger: Minister

Turkish banks are healthy and strong – Albayrak ISTANBUL: Finance Minister Berat Albayrak assured international investors yesterday that Turkey would emerge stronger from its currency crisis, insisting that the country’s banks were healthy and strong. In a conference call with thousands of investors and economists, Albayrak – who is President Tayyip Erdogan’s son-in-law – said […]

If rupee slump persists, it can hurt India’s Modi

Posted by on 16/08/2018
Filed under Business, Subcontinent, Top Stories, World

If rupee slump persists, it can hurt India’s Modi

If rupee slump persists, it can hurt India’s Modi

Rupee hits all-time low of 70.40 against dollar NEW DELHI: The rupee’s plunge to a record low has worried a wide cross-section of India’s society: companies, importers, those going on vacation and students planning to study overseas. But if the weakness persists, Prime Minister Narendra Modi’s job could become a lot harder just before big […]

No Canadians: Air France unions want French CEO

Posted by on 16/08/2018
Filed under Business

No Canadians: Air France unions want French CEO

No Canadians: Air France unions want French CEO

Canada’s Ben Smith named new chief executive PARIS: Air France-KLM was tipped to name Canada’s Ben Smith as its new chief executive yesterday, whose mooted nomination has run into immediate resistance from the group’s powerful unions. It was “inconceivable that the Air France company, French since 1933, falls into the hands of a foreign executive […]

Kuwait’s CA surplus highest in 3 years thanks to stronger oil prices

Posted by on 15/08/2018
Filed under Business

Kuwait’s CA surplus highest in 3 years thanks to stronger oil prices

Kuwait’s CA surplus highest in 3 years thanks to stronger oil prices

Trade surplus in 1Q18 rose to KD 3.4 billion KUWAIT: Kuwait’s current account registered its highest surplus in three years in 1Q18 at KD 1.7 billion (17 percent of quarterly GDP), up from KD 1.2 billion in 4Q17. A rise in the trade surplus, supported by higher oil prices, more than offset a widening services […]

Tijari declares operating profit before provision KD 54.1m for H1 of 2018

Posted by on 15/08/2018
Filed under Business

Tijari declares operating profit before provision KD 54.1m for H1 of 2018

Tijari declares operating profit before provision KD 54.1m for H1 of 2018

CBK makes a net profit of KD 6m for first six months of 2018 KUWAIT: Commercial Bank of Kuwait announced an operating profit before provision KD 54.1 million compared to KD 53.2 million for the 1st half of 2017. The net profit of KD 6.0 million for the first six months of 2018 is higher […]

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