Wednesday 27 August 2014
 
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Kuwait

Kuwait export crude falls to $103.4 in July

The price of Kuwait Export Crude (KEC) fell about $5, from $108.2 per barrel (bbl) at the start of July to $103.4 per bbl at the end of the month, said a report. The National Bank of Kuwait report noted that the oil prices retreat

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Nayef Al-Hajraf new Kuwait CMA chief

Kuwait's cabinet appointed former finance minister Nayef Al-Hajraf as chairman of its Capital Markets Authority, which regulates the stock market, state news agency Kuna said. He replaces Saleh Al-Falah, who had held the post

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Iran delays London oil conference

Iran has postponed by three months a conference to offer multinationals the rights to develop oil deposits, giving time for sanctions on the country's oil sector to be lifted, a senior official said. "We want to provide for all

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Sinopec shortlists bidders for $20bn retail stake

State-run Chinese oil giant Sinopec Corp has shortlisted 37 bidding consortia for an up to 30 per cent stake in its massive fuel retail unit and plans to choose a winning bidder by end-September, its chairman said. "The reaction fr

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Kuwait real estate sales down 37pc

The real estate sales in Kuwait fell 37 per cent year-on-year (y/y) in July  to KD268 million ($941 million) compared to last year, according to a report. The sales plunged by 49 per cent compared to June, which was a record

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Saudis spent $17bn on family tourism in 2013

Saudi Arabians spent a record SR64 billion ($17.1 billion) on family tourism last year thus topping the list of GCC countries, which contribute about 31 per cent of the total expenditures on tourism activities, said a report. Seco

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Kuwait to boost China oil exports to 500,000 bpd

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-

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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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