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  • No conflict of interest in KFH-AUB Bahrain merger –KIA

    January 6, 2019 12:12 PM 2

    With the Kuwaiti finance minister chairing KIA, which is the largest shareholder in KFH, and the Public Institution for Social Security (PIFSS) acting as the largest shareholder in AUB-Bahrain, KIA said that this did not constitute a conflict of interest, Al Qabas newspaper reported. KIA currently owns a 24.079% stake in KFH, but does not hold a stake

  • Saudi Arabia signs largest Aramco oil deal in Pakistan

    January 6, 2019 9:06 AM 2

    Mubasher: Saudi Arabia and Pakistan have agreed to build a new Saudi Aramco oil refinery in Pakistan’s port city of Gwadar. Pakistan is expected to sign several investment deals in February 2019, including the construction deal of the multibillion-dollar oil refinery, Arab News reported, citing Pakistan’s information minister Fawad Chaudhry. The oil refinery

  • KPC inks KWD 186m contracts in 2018

    January 6, 2019 8:37 AM 1

    Mubasher: Kuwait Petroleum Corporation (KPC) and its subsidiaries have signed KWD 185.8 million engineering, supplying, and construction contracts in 2018, compared to projects worth KWD 1.4 billion a year earlier. This huge gap came as a result of a decline in the number of awarded projects in the oil sector last year after signing the most major projects

  • 3 GCC cities among world's best 100

    January 5, 2019 8:41 PM 2

    Dubai – Mubasher: The UAE’s city of Dubai has ranked 9th in Resonance Consultancy’s list for the world’s best cities. Among the 100 tracked cities, Abu Dhabi, the UAE capital, came in 40th while Doha ranked 44th, according to the report. London topped the list, followed by Paris, New York, Tokyo, Barcelona, and Moscow, it added. The evaluation was based

  • Ireland plans bond sale to handle Brexit vote impact

    January 5, 2019 6:48 PM 4

    Mubasher: The Irish government is planning to offer a bond sale on Monday in a bid to offset the potential dire consequences of the UK’s upcoming vote on a Brexit agreement, bankers told Reuters. The British parliament is expected to vote on Prime Minister Theresa May’s proposed Brexit agreement in the week beginning 14 January. The rejection of May’s

  • Oil ends Friday high on strong US jobs data

    January 4, 2019 7:59 PM 5

    Mubasher: Oil futures recorded higher settlement on Friday, marking their first weekly price increase after losing for three consecutive weeks. February NYMEX WTI went up $0.87, or 1.97%, to close at $47.96 per barrel, rising 5.8% for the week. The positive performance of the oil can be explained in the light of a strong US jobs data and the agreed upon output

  • Huawei punishes 2 employees for tweeting from iPhone

    January 4, 2019 4:15 PM 5

    Mubasher: China’s Huawei demoted and cut the pay of two workers for sending a New Year’s greeting on the telecoms giant’s official Twitter account using an iPhone. Huawei on New Year’s Day wished followers a “Happy #2019” in a tweet marked sent “via Twitter for iPhone.” Although the tweet was quickly removed, screenshots of the blunder went viral across

  • Qualcomm to enforce ban on some iPhone models in Germany

    January 4, 2019 3:28 PM 4

    Mubasher: The US multinational semiconductor and telecommunications equipment company Qualcomm has taken steps to help enforce a German court order bans the sale of a group of iPhone models in the European country. The court order mandates Apple to halt the sales of those models upon infringing claims. Qualcomm posted bonds of EUR 1.34 billion ($1.5 billion)

  • Amazon workers walk off in Spain before Three Kings Day

    January 4, 2019 1:34 PM 4

    Mubasher: Workers at Amazon’s Madrid warehouse went on strike ahead of one of the biggest days of the Spanish national calendar, as part of a long campaign for better pay and conditions. The strike on Thursday, called by the country’s two main unions, CCOO and UGT, may impact the delivery of products for Three Kings gift-giving feast day, marked by most of Spaniards

  • US, China to resume trade talks next Monday

    January 4, 2019 12:24 PM 3

    Mubasher: US delegation would arrive in Beijing in a two-day visit next Monday to engage with China in a new round of trade negotiations. The visit aims to implement last December’s agreement between US President Donald Trump and Xi Jinping to hold off new tariff hikes, the Chinese Ministry of Commerce stated on its website Friday. The US delegation