Saturday 23 August 2014
 
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Kuwait

Swiss bank mis-sold $200m investments to Kuwaitis

Switzerland's Bank Sarasin mis-sold $200 million of investment products to Kuwait's prominent Khorafi family, a court at Dubai's financial centre found on Thursday in a ruling that could set a precedent for similar disputes in the re

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Khorafis win Dubai judgement vs Bank Sarasin

A court in Dubai's financial centre ruled in favour of Kuwait's prominent Khorafi family on Thursday in a suit against Switzerland's Bank Sarasin over $200 million of investments that went bad. The Dubai International

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BMW unveils new X series model in Kuwait

BMW has unveiled its new X4 model in Kuwait, in association with its sole dealer Ali Alghanim & Sons Automotive. The model combines sports car performance and sports activity vehicle versatility with the elegance of a coupe, s

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Kuwait’s FM sector set for huge growth

The raft of new building projects in Kuwait will drive the expansion of the facilities management (FM) sector in the country as owners demand higher service levels to match their investment, a report said. Facilities management se

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Kuwait to double supplies to China's Sinopec

Kuwait has concluded a new 10-year deal with a China's Sinopec Corp to nearly double its supplies by offering to ship the oil and sell on a more competitive cost-and-freight basis, according to a KPC official and a trading source.

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Kuwait briefly detains cleric in militant funding row

Kuwait briefly detained a prominent Sunni Muslim cleric less than two weeks after the US included him on a sanctions list on suspicion he was funnelling money to militants in Iraq and Syria, his lawyer said on Monday. Shafi Al-Ajm

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Americana says no knowledge of Savola talks

Kuwait Food Company (Americana) said on Monday that it had no knowledge of any talks with Saudi Arabia's Savola Group on a possible acquisition of Americana. "The board and executive administration deny knowledge of any n

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Workers hurt in Kuwait refinery fire

Several workers were injured by a small fire that broke out at Kuwait's 460,000 barrel-per-day Mina Al-Ahmadi refinery without causing any interruptions to production on Sunday, according to state news agency Kuna. The agency

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Kuwait firm establishes subsidiary in Bahrain

Kuwait-based The Commercial Real Estate Company (Al Tijaria) has announced the establishment of its fully-owned Bahrain subsidiary, Al Tijaria Real Estate Development Company. The new company will be responsible for Al Tijaria'

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Kuwait eyes $28bn PPP projects in new plan

Kuwait plans to establish public - private partnership (PPP) projects worth KD8 billion ($28.17 billion) under the new five-year development plan announced recently. The Kuwait Development Plan (KDP) for 2015-2020 will also focus

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