Thursday 5 May 2016
 
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Kuwait

Kuwait releases $250m aid to Morocco

Kuwait has released $250 million in financial aid to Morocco, the remaining sum of assistance to the North African country, a report said. The $250 million released by Kuwait for the kingdom is one-fifth of the MD 1.5 billion prom

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Oil 'will stabilise at $50-$60 by end-2016'

The chief executive of Kuwait Petroleum International said on Tuesday that he expected oil prices to stabilise between $50 and $60 a barrel by the end of 2016 or early 2017, Kuwait's official Kuna news agency reported. It also

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Kuwait strike makes austerity drive tricky for govt

A three-day strike by oil workers in Kuwait last month over pay reforms shows the government faces considerable opposition as it prepares to push through painful and controversial cuts to longstanding welfare benefits. Oil-exporti

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Asar acts as legal counsel in financing KNPC project

Kuwait-based Al Ruwayeh & Partners (Asar), a leading corporate law firm, acted as legal counsel of several financial institutions in the financing of the Kuwait National Petroleum Company’s (KNPC) clean fuels project. Th

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Equate in key polyethylene supply milestone

Kuwait-based Equate Petrochemical Company had supplied more than 450,000 tonne of polyethylene to the country's leading plastic manufacturers in 17 years of its operation from 1998 to 2015, said its top official. Equate presid

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Kuwait metro project to be built in five phases

The Kuwait metro project is still under consideration, said a news report quoting a letter recently sent by the Partnership Technical Bureau (PTB) to an unspecified state department. According to the letter, the execution will go

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Lacoste launches new store at Kuwait’s 360 Mall

360 Mall, Kuwait’s iconic shopping mall owned by Tamdeen Shopping Centers, has launched the new Lacoste concept store. Brought by Habchi & Chalhoub, the store covers 201.93 sq m of retail space, and provides menswear, wo

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Citi drops out of $1.5bn financing of Americana sale

Citigroup has dropped out of the group of banks providing a $1.5 billion bridge loan to Gulf-based Adeptio for its proposed purchase of a majority stake in Kuwait Food Company (Americana), three sources aware of the matter said. T

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KNPC signs $4bn loan for Clean Fuels Project

State-owned refiner Kuwait National Petroleum Company (KNPC) signed on Thursday the first tranche of financing for its multi-billion-dollar Clean Fuels Project, a major plank of the country's economic development plan. The tra

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As glut persists, Saudis and Kuwait struggle to restart Khafji oilfield

Kuwait and Saudi Arabia appear no closer to restarting their jointly operated Khafji oilfield, industry sources said, despite Kuwait saying the sides had agreed to ramp up output after an 18-month shutdown.   Any

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