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Gulf banks’ profits set to slide over low oil: S&P

Gulf banks’ profits set to slide over low oil: S&P

Posted by on 01/10/2015
Filed under Business

Gulf banks’ profits set to slide over low oil: S&P

DUBAI: Net earnings of Gulf banks are expected to slide as government spending slows due to a dive in oil revenues, the Standard and Poor’s ratings agency said yesterday. Growth in net income declined to 4.0 percent in the second quarter, compared with 7.0 percent in the first three months of the year and more […]

As oil slips, Saudi faces change – $656bn in currency reserves will help kingdom avoid shift in lifestyles, policies

Posted by on 01/10/2015
Filed under Business, Middle East, Top Stories, World

Al Sayer group holds Outstanding Customer Service Award ceremony

Posted by on 30/09/2015
Filed under Business

Al Sayer group holds Outstanding Customer Service Award ceremony

Al Sayer group holds Outstanding Customer Service Award ceremony

KUWAIT: Al Sayer Group Holding held Outstanding Customer Service Awards Ceremony as part of the long-term commitment towards best in the business customer care. Al Sayer Group Board of Directors Faisal Bader Al Sayer Vice Chairman and Mubarak Naser Al Sayer CEO, Paul Reynolds COO, Business Directors, Group Managers and supervisory grade employees attended the […]

Old banknotes void by Oct 1

Posted by on 30/09/2015
Filed under Business, Kuwait, Other News

Old banknotes void by Oct 1

Old banknotes void by Oct 1

KUWAIT: The Central Bank of Kuwait will withdraw all old Kuwaiti banknotes from trading by Oct 1. The fifth-edition currency notes will no longer be legal tender as of close of business on Oct 1. Holders of the old notes must exchange them for the new editions at local banks ahead of the abovementioned date, […]

Kuwait’s inflation rate up by 3.8 pct in August: CSB

Kuwait’s inflation rate up by 3.8 pct in August: CSB

Posted by on 29/09/2015
Filed under Business, Kuwait, Other News

Kuwait’s inflation rate up by 3.8 pct in August: CSB

KUWAIT: Kuwait’s consumer price index (CPI) or inflation rate went up by 3.8 percent last August compared with the same month last year, the Central Statistical Bureau (CSB) said yesterday. The inflation rate rose by 0.29 percent in August month-on-month, the CSB added in its monthly report. The general index of consumer prices last April […]

Taxes gradually applied in 2016: Finance ministry

Taxes gradually applied in 2016: Finance ministry

Posted by on 29/09/2015
Filed under Business, Kuwait, Other News

Taxes gradually applied in 2016: Finance ministry

KUWAIT: The Finance Ministry recently informed the Ministry of Commerce and Industry that, in collaboration with World Bank, the taxes sector is still preparing a number of decisions aimed at developing tax collection in Kuwait, which are scheduled to gradually be applied next year. The finance ministry added that the decisions would include setting a […]

‘Bitcoin’ gaining popularity in Kuwait?

Posted by on 29/09/2015
Filed under Business

‘Bitcoin’ gaining popularity in Kuwait?

‘Bitcoin’ gaining popularity in Kuwait?

KUWAIT: Have you heard about the bitcoin? It is not money or currency; it is not even a precious metal, and no country in the world recognizes it. In reality though, bitcoins are being ‘used’ like a ‘digital currency’ worldwide. Of course, Kuwait cannot be far behind, as there are some groups and individuals in […]

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

Posted by on 29/09/2015
Filed under Business

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

Four countries in Arab world rank within top 10 Muslim shopping destinations globally – MasterCard-CrescentRating MTSI 2015 report

KUWAIT: Four cities from across the Arab world are among the top 10 destinations to travel to globally for Muslims for shopping purposes, according to a new report released today by MasterCard and CrescentRating just ahead of the upcoming Global Islamic Summit to be held in Dubai. The Muslim Travel Shopping Index 2015 (MTSI 2015) […]

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

Posted by on 29/09/2015
Filed under Business

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

Bahrah Trading Co, Hino launch super-long chassis from new generation of Hino300 Series

KUWAIT: After successful re-launch of HINO brand in Kuwait, Bahrah Trading Co (BTC), exclusive distributors of HINO trucks in the Kuwait, launched the superlong chassis from the new generation of HINO300 Series light-duty truck. It was displayed recently at the Big5 exhibition from 13-15 Sept 2015 at Mishref Fair Grounds. Mubarak Naser Al-Sayer, CEO Al-Sayer […]

British Airways to fly refreshed 747s on Kuwait route

Posted by on 29/09/2015
Filed under Business

British Airways to fly refreshed 747s on Kuwait route

British Airways to fly refreshed 747s on Kuwait route

KUWAIT: The first of 18 of British Airways’ much-loved Boeing 747s with a refreshed interior and state-of-the-art in-flight entertainment system is taking to the skies from Heathrow to New York JFK this week. The revamped jumbos will now operate on selected flights across cities in the Middle East including Riyadh, Dubai and Kuwait in addition […]

iPhone 6s breaks sales record

Posted by on 28/09/2015
Filed under Business

iPhone 6s breaks sales record

iPhone 6s breaks sales record

LOS ANGELES: Apple said it sold more than 13 million new iPhone 6s and iPhone 6s Plus devices, a new company record, just three days after hitting retail channels last Friday in the US and 11 other countries. The company’s marketing spiel for the new devices claimed that “The only thing that’s changed is everything,” […]

Shell pulls the plug on Arctic exploration – Withdrawal from search for Alaskan oil to cost further $4.1bn

Posted by on 28/09/2015
Filed under Business

Shell pulls the plug on Arctic exploration – Withdrawal from search for Alaskan oil to cost further $4.1bn

Shell pulls the plug on Arctic exploration – Withdrawal from search for Alaskan oil to cost further $4.1bn

LONDON: Royal Dutch Shell said yesterday it was halting its search for oil off the Alaskan coast, with environmentalists claiming a huge victory in their battle to protect local wildlife. The Anglo-Dutch energy giant said in a statement that its Burger J well in the Chukchi Sea, off the northwest coast of Alaska, did not […]