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FATCA and Common Reporting Standard in Kuwait - SPECIAL REPORT
US reporting requirement and tax exposureThe Financial Account Tax Compliance Act ('FATCA'), spearheaded by the United States Internal Revenue Services ('IRS') has been in play since 2014.  The aim of FATCA is to identify individuals who are US residents/citizens and using financial accounts outside of the US - essentially flagging individuals who could be avoiding/evading tax in the US.Jurisdictions around the world have signed or agreed to...
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Who are the 8 richest people? All men, mostly Americans
LONDON: The eight individuals who own as much as half of the rest of the planet are all men, and have largely made their fortunes in technology. Most are American, with one European and one Mexican in the mix. Several have pledged to give it all to charity.The eight tycoons' net worth, as calculated by Forbes magazine, was cited Monday by anti-poverty activists Oxfam in a report highlighting income inequality. Although most of them will not be...
KFH participating in the ribbon-cutting ceremony during the Auto Moto show
KFH takes part in Auto Moto 2017 ribbon-cutting ceremony
Bank strategic partner for third year in a row KFH participating in the ribbon-cutting ceremony during the Auto Moto showKUWAIT: Kuwait Finance House (KFH) took part in the motor show Auto Moto 2017 ribbon cutting ceremony held at 360 Mall in the framework of its strategic partnership for the third year in a row. KFH participation emanates from its endeavors to offer clients and visitors a vast and comprehensive array of financing solutions...
Ramy Khalifa
KIB launches training program for retail banking Staff
Ramy KhalifaKUWAIT: As part of its ongoing strategy to invest in local talents and promote the professional growth and development of its employees, Kuwait International Bank (KIB) launched a comprehensive training and development program dedicated to its Retail Banking employees.The new Retail Banking Training Program was designed to provide frontline managers, customer service officers and sales staff with the knowledge, tools and practical...
SEOUL: Samsung Electronics Galaxy Note 7 smartphone is displayed at a mobile phone shop in Seoul, South Korea. —AP
Probe finds battery was main cause of Note 7 fires
SEOUL: A Samsung Electronics Co Ltd investigation into what caused some Galaxy Note 7 smartphones to catch fire has concluded that the battery was the main reason, a person familiar with the matter told Reuters yesterday.The world's biggest smartphone maker is seeking to put behind it one of the biggest product safety failures in tech history as it prepares to launch the Galaxy S8, one of its flagship phones, sometime in the first half of this...
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'Hidden Figures' soars in second week atop box office
This image released by Twentieth Century Fox shows Taraji P. Henson as Katherine Johnson, center, in a scene from "Hidden Figures." — AP"Hidden Figures," a story about three black women mathematicians who helped NASA put the first men in space, soared into its second week atop the box office, industry estimates for North America showed on Sunday. The Fox film, a biographical comedy-drama based on a book of the same name, stars Taraji P....
This file photo shows Melania Trump, wife of Republican presidential candidate Donald Trump, arriving on stage on the first day of the Republican National Convention at the Quicken Loans Arena in Cleveland, Ohio
First lady Melania and the political fashion police
This file photo shows Melania Trump, wife of Republican presidential candidate Donald Trump, arriving on stage on the first day of the Republican National Convention at the Quicken Loans Arena in Cleveland, OhioShe may be tall, slim and a former model, but incoming first lady Melania Trump faces a new kind of fashion police designers refusing to dress her because of her husband's politics. She has posed nude for GQ, modeled in Paris and graced...
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Paris Conference
KUWAIT: (From left) Opposition MPs Al-Humaidi Al-Subaei, Abdulwahab Al-Babtain and Waleed Al-Tabtabaei, who filed to grill the minister of information and youth, arrive for a session at the National Assembly yesterday. — Photo by Yasser Al-Zayyat
MPs file grilling over sports ban
KUWAIT: (From left) Opposition MPs Al-Humaidi Al-Subaei, Abdulwahab Al-Babtain and Waleed Al-Tabtabaei, who filed to grill the minister of information and youth, arrive for a session at the National Assembly yesterday. — Photo by Yasser Al-ZayyatKUWAIT: Three opposition lawmakers yesterday carried out their threat and filed to grill Minister of Information and Youth Sheikh Salman Al-Humoud Al-Sabah for allegedly failing to do enough to end an...
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Eurowings flight lands in Kuwait ater bomb threat
KUWAIT: A Germany-bound Eurowings passenger flight from Oman landed in Kuwait yesterday over a bomb threat, but no explosives were found onboard, authorities said.The Airbus A330 from Salalah heading to Cologne, Eurowings flight EW117, landed at 8 am at Kuwait International Airport after the captain received word of the threat, said Mansour Al-Hashemi, a spokesman for Kuwait’s civil aviation authority. Security officials found no signs of...
MP Mubarak Al-Hajraf Info ministry and Minister Hind Al-Sabeeh
Labor market flooded with unnecessary workers: MP
Info minister defends recent recruitments MP Mubarak Al-Hajraf Info ministry and Minister Hind Al-SabeehKUWAIT: MP Mubarak Al-Hajraf said that he met recently with Minister of Social Affairs and Labor Hind Al-Sabeeh, who told him that she is fully aware of the demographic imbalance problem and the to amend the labor law and protect Kuwait against visa traffickers.Hajraf said that he agreed to the statements made by his colleague Safaa Al-Hashem...
KUWAIT: Ministry of Finance’s Undersecretary Khalifa Hamada and Indian Ambassador Sunil Jain shake hands after signing the protocol. —KUNA
Kuwait, India amend double taxation agreement
KUWAIT: Ministry of Finance’s Undersecretary Khalifa Hamada and Indian Ambassador Sunil Jain shake hands after signing the protocol. —KUNAKUWAIT: The Kuwaiti Ministry of Finance yesterday signed a protocol with India amending the agreement between the two countries to avoid double taxation on income and to prevent tax evasion. The protocol amends the types of Kuwaiti taxes in Article two of the agreement, as well as Article 26 on exchanging...
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KUWAIT: First Deputy Prime Minister and Interior and Defense Minister Sheikh Fahad Al-Yousef Al-Sabah holds talks with senior defense ministry officials on Aug 7, 2024. - KUNA
Kuwait army alert, govt prepared
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Ahmed Al-Basat celebrating his birthday at the office.
A forgotten courtesy: The silent struggle of Kuwait’s expatriates
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PARIS: Bangladesh's finance pioneer Muhammad Yunus is escorted by French police personnel as he arrives at Roissy-Charles de Gaulle Airport on Aug 7, 2024, enroute to Bangladesh, where he is set to lead a caretaker government. - AFP
Yunus: Get ready to build Bangladesh
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The second phase of the Avenues Roads Project, the exit leading to the Fifth Ring Road towards Jahra and the opposite U-turn. – KUNA photos
Second phase of roads project leading to The Avenues mall opened
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Mansour Al-Khashti
Why fighting drug trafficking and consumption alone isn’t enough