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Oil drop to fuel fiscal reforms in GCC: Moody’s – Cooperation with OPEC? No thank you, say ex-Soviet producers

Posted by on 20/10/2015
Filed under Business, Middle East, World

Oil drop to fuel fiscal reforms in GCC: Moody’s – Cooperation with OPEC? No thank you, say ex-Soviet producers

Oil drop to fuel fiscal reforms in GCC: Moody’s – Cooperation with OPEC? No thank you, say ex-Soviet producers

DUBAI:- A projected long-term drop in oil prices will drive fiscal reforms in energy-dependent Gulf states and spur public borrowing, Moody’s Investor Service said yesterday. The ratings agency also revised downward its projections for oil prices from $65 a barrel to average $55 this year and $53 dollars in 2016. The six-nation Gulf Cooperation Council […]

Kuwait consumer sector remains robust despite mild moderation – NBK ECONOMIC REPORT

Posted by on 20/10/2015
Filed under Business

Kuwait consumer sector remains robust despite mild moderation – NBK ECONOMIC REPORT

Kuwait consumer sector remains robust despite mild moderation – NBK ECONOMIC REPORT

KUWAIT: The consumer sector continued to grow more rapidly than the rest of Kuwait’s economy despite some slowdown in growth. Household debt growth remained in the double-digits, though it has moderated over the last twelve months. Consumer spending growth also maintained a robust pace, driven by good sentiment and healthy growth in household income. Indeed, […]

Huawei: Middle East driving digital transformation agenda

Posted by on 20/10/2015
Filed under Business

Huawei: Middle East driving digital transformation agenda

Huawei: Middle East driving digital transformation agenda

KUWAIT: Looking to the future of the region’s connected digital economy, senior executives for across the technology industry have joined Huawei-a leading global information and communications technology (ICT) solutions provider-to commemorate the company’s 15 year anniversary of operations in the Middle East. Huawei has hosted a number of commemorative activities over the past week culminating […]

Etihad Airways appoints 3 UAE nationals at airports in US, Egypt

Posted by on 20/10/2015
Filed under Business

Etihad Airways appoints 3 UAE nationals at airports in US, Egypt

Etihad Airways appoints 3 UAE nationals at airports in US, Egypt

KUWAIT: Omar Al-Memari has been named Etihad Airways’ Airport Manager at San Francisco Airport and Khaled Al-Mazrouei has been named Assistant Airport Manager at Los Angeles Airport. Rashed Al-Sharji, has been appointed to the role of Assistant Airport Manager for Etihad Airways in Cairo. More than 190 UAE nationals now hold airport management roles at […]

Taxes and tobacco consumption

Posted by on 20/10/2015
Filed under Business, Health

Taxes and tobacco consumption

Taxes and tobacco consumption

Government spending in the Gulf Cooperation Council (GCC) countries has been rising rapidly since the onset of the Arab Spring. On the revenue side, oil & gas revenues account for more than 85% of GCC government revenue. This high dependence on oil & gas makes the GCC countries highly vulnerable to oil price fluctuations, with […]

EQUATE sponsors Kuwait Industries Expo 2015

Posted by on 20/10/2015
Filed under Business

EQUATE sponsors Kuwait Industries Expo 2015

EQUATE sponsors Kuwait Industries Expo 2015

KUWAIT: Under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, EQUATE Petrochemical Company, Kuwait’s first international jointventure in this industry, sponsored Kuwait Industries Expo 2015, which is organized by Kuwait Industries Union (KIU). During the expo, His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah visited EQUATE’s exhibition stand. Throughout […]

Zain Bahrain announces rise in profits by 16.7% – Customer base increased to 814,000 active customers

Posted by on 19/10/2015
Filed under Business

Zain Bahrain announces rise in profits by 16.7% – Customer base increased to 814,000 active customers

Zain Bahrain announces rise in profits by 16.7% – Customer base increased to 814,000 active customers

MANAMA: Zain Bahrain, the most innovative operator in the kingdom, yesterday announced its results for the nine-month period to Sept 30, 2015. The operator recorded net profit of BD 3.412 million (US$ 9.026 million) for the nine-month period compared to BD 2.924 million (US$ 7.735 million) for the corresponding period in 2014, representing an increase […]

Kuwait key to flydubai’s growth story

Posted by on 18/10/2015
Filed under Business

Kuwait key to flydubai’s growth story

Kuwait key to flydubai’s growth story

KUWAIT: The airline industry in the Gulf region is witnessing a robust growth of around 14 percent today, which is stronger than Europe or the US, and the Kuwait market is an important part of that growth story, said Sudhir Sreedharan, flydubai’s Senior Vice President, Commercial Operations (Indian subcontinent, GCC and Africa). Talking to Kuwait […]

Cityscape provide insights on Kuwait, Regional Real Estate business

Posted by on 18/10/2015
Filed under Business

Cityscape provide insights on Kuwait, Regional Real Estate business

Cityscape provide insights on Kuwait, Regional Real Estate business

KUWAIT: In the presence of elite decision makers, developers, investors and key stakeholders of the real estate market, and for the first time in Kuwait, Cityscape hosted a Business Breakfast at JW Marriott Hotel in Kuwait City. In an intimate environment, the panel of experts provided key insights into the industry by discussing and debating […]

First X-cite store opens in Riyadh – Alghanim Industries continues expansion in Saudi

Posted by on 18/10/2015
Filed under Business

First X-cite store opens in Riyadh  – Alghanim Industries continues expansion in Saudi

First X-cite store opens in Riyadh – Alghanim Industries continues expansion in Saudi

KUWAIT: Alghanim Industries announced the expansion of its consumer electronics retail business, and insulation manufacturing business in Saudi Arabia. A leading destination for multi-brand consumer electronics, X-Cite is a critical part of the Alghanim Industries portfolio of companies and a fast-growing electronics brand. The opening was marked with a celebration hosted by the Council of […]

China to disappoint with Q3 growth – Pressure on Beijing to do more to head off hard landing

Posted by on 16/10/2015
Filed under Business, Top Stories

China to disappoint with Q3 growth – Pressure on Beijing to do more to head off hard landing

China to disappoint with Q3 growth – Pressure on Beijing to do more to head off hard landing

SHANGHAI: China probably grew at its slowest pace since the depths of the global financial crisis in the third quarter, an AFP survey of economists has found, confirming investor fears following stock market turmoil and a currency devaluation. Signs the world’s second-largest economy – a key driver of global growth is struggling will add to […]

Kuwait oil price falls to $43.51

Posted by on 15/10/2015
Filed under Business

Kuwait oil price falls to $43.51

Kuwait oil price falls to $43.51

KUWAIT: Kuwait oil price in Wednesday’s trades dropped 84 cents to USD 43.51 per barrel as compared to $44.35 pb on Tuesday, Kuwait Petroleum Corporation said yesterday. Oil prices had dropped since the International Energy Agency (IEA) cautioned of continuing market glut this year and 2016, despite a weak dollar which moved down to the […]