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  • China has ‘good faith’ to resolve trade row with US

    January 7, 2019 2:09 PM

    Mubasher: China has the “good faith” to cooperate with the US on reaching a resolution to trade conflict, the Foreign Ministry said on Monday. Both sides agreed to hold “positive and constructive” discussions to resolve economic and trade disputes in the light of the consensus reached by US President Donald Trump and Chinese President Xi Jinping, Foreign

  • Brexit deal vote to be held on 15 January-Report

    January 7, 2019 1:34 PM

    Mubasher: UK Prime Minister Theresa May would hold a postponed parliamentary vote on her Brexit plan on 15 January, the BBC said on Monday, citing government sources. The UK government previously said that the vote would be held in the week of 14 January. The vote was expected to be held last December, but was called off to avoid a defeat by a large

  • EU rules out modifying Brexit deal

    January 7, 2019 1:05 PM

    Mubasher: The European Commission reiterated on Monday that leaders of the European Union (EU) would not renegotiate a Brexit deal agreed last month with UK Prime Minister Theresa May. “The deal that is on the table is the best and the only deal possible,” chief spokesman Margaritis Schinas told reporters, adding “this deal will not be renegotiated

  • Gulf Air launches new boutique carrier business scheme

    January 7, 2019 12:29 PM 1

    Mubasher: Bahrain’s Gulf Air announced plans to become a boutique carrier and focus on customer experience over volume as part of its new business plan for 2019. The new business model will give the Bahraini airline “a competitive advantage that will translate in its new fleet, new Falcon Gold class offering, new exclusive products, new destinations

  • China FX reserves rise in December

    January 7, 2019 12:11 PM 2

    Mubasher: China’s foreign exchange (FX) reserves rose for the second month in December 2018, countering worries about capital outflows amid an economic slowdown and trade pressures. China’s foreign currency holdings rose to $3.073 trillion last December, compared with $3.062 trillion in the prior month, the People’s Bank of China said on Monday

  • Kuwait’s exports to Arab peers log KWD 3.12m in November

    January 7, 2019 11:48 AM 2

    Mubasher: Kuwait’s exports to Arab nations hit KWD 3.12 million in November 2018, acquiring 58.3% of total exports, the Ministry of Commerce and Industry said. The GCC nation’s exports to the rest of world countries amounted to KWD 2.23 million last November, representing 41.7% of total exports. Kuwait’s overall exports decreased 33% year-on-year in November

  • Al-Raya Holding eyes listing on Boursa Kuwait

    January 7, 2019 11:44 AM 2

    Mubasher: Al-Raya Holding Company plans to float a stake of its shares on Boursa Kuwait over the coming period, along with expanding its business in the GCC country, the company’s CEO said. The Kuwait-based firm is also looking to boost its footprint in Egypt and Saudi Arabia, Jassim Mohammed Al-Faji added. Al-Raya hired an advisor to manage its listing

  • Kuwait’s foreign investments hit $25.2bn in 2017 – Survey

    January 7, 2019 11:32 AM 2

    Mubasher: Foreign investments in Kuwait grew 2.6% year-on-year in 2017, according to a survey issued by Kuwait’s Central Statistical Bureau on Monday. The Gulf nation’s foreign investments surged by KWD 195.4 million to KWD 7.65 billion ($25.2 billion) in 2017, marking the highest level in five years, up from KWD 7.455 billion a year earlier, the state-run

  • Eurozone retail sales rise 0.6% in November, EU28 0.7%

    January 7, 2019 10:19 AM 1

    Mubasher: Eurozone retail trade rose by 0.6% in November 2018, at the same rate from October, data by the Eurozone’s statistical office, the Eurostat, revealed on Monday. Meanwhile, retail sales in the 28-member European Union (EU28) rose 0.7% last November, after increasing by 0.4% in the prior month. On a yearly basis, the index measuring retail trade

  • Investcorp’s technology arm closes $185m deal with HarbourVest

    January 7, 2019 10:10 AM 2

    Mubasher: Investcorp Technology Partners (ITP) on Monday announced closing the transfer of its remaining two portfolio companies in ITP Fund III, with a total enterprise value of $185 million to Investcorp Secondary Fund 2018 L.P., a continuation vehicle supported by HarbourVest. ITP, which is the technology private equity arm of Bahrain-based private