KNPC dis­cusses fund­ing 2nd phase of Clean Fuel Project

Kuwait ranked 10th in global em­pa­thy list

Kuwait Times - - LOCAL - By A Saleh

Kuwait Na­tional Petroleum Com­pany (KNPC) of­fi­cials held sev­eral meet­ings with rep­re­sen­ta­tives of five in­ter­na­tional banks to ne­go­ti­ate the prices and in­ter­est rates of fund­ing the sec­ond phase of the Clean Fuel Project. In­formed sources stressed that ne­go­ti­a­tions have been al­most con­cluded and that an agree­ment would prob­a­bly be signed be­fore the end of this year.

Profit tax

The as­sess­ment and tax claims man­ager at the finance min­istry Aseel Al-Mu­naifi said that the min­istry has re­ferred the busi­ness profit tax law to the fatwa and leg­is­la­tion depart­ment for fur­ther study. Mu­naifi ex­plained that the law sug­gests im­pos­ing a 10 per­cent tax on com­pa­nies’ prof­its start­ing from 2021. She added that the to­tal in­come from this tax and the value added tax due to be passed by GCC would be around KD 800 mil­lion.

Scrap site

Kuwait Mu­nic­i­pal­ity’s deputy di­rec­tor for or­ga­ni­za­tional af­fairs Mo­hammed Al-Zobee in­vited a num­ber of mu­nic­i­pal­ity of­fi­cials to a spe­cial meet­ing to dis­cuss re­lo­cat­ing the mu­nic­i­pal­ity’s ve­hi­cle im­pound­ment and scrap site dur­ing the first half of 2017 to a new lo­ca­tion to the south of Saad Al-Ab­dul­lah. In the meet­ing, Zobee dis­trib­uted var­i­ous tasks to mu­nic­i­pal­ity of­fi­cials and ex­plained that the to­tal cost of pre­par­ing the project would be KD 1 mil­lion.

Road de­vel­op­ment

The State Au­dit Bureau has no­ti­fied the Min­istry of Pub­lic Works (MPW) of its ap­proval of two agree­ments made to su­per­vise two ten­ders to de­velop Al-Ghouss Street from Sabah Al-Salem till the Sev­enth Ring Road and from the Fifth Ring Road to the Sixth Ring Road, said MPW’s as­sis­tant un­der­sec­re­tary for main­te­nance en­gi­neer­ing af­fairs Ahmed Al-Hes­san. He added that the to­tal cost of Wafra high­way project, of which 10 per­cent is al­ready com­plete, would be KD 82 mil­lion.

Em­pa­thy list

A new study by over 104 re­searchers from 63 dif­fer­ent coun­tries at Michi­gan, Chicago and In­di­ana uni­ver­si­ties showed that Kuwait ranked tenth world­wide and third in the Arab world in terms of em­pathiz­ing with world is­sues and con­cerns, while Saudi Ara­bia stood first amongst Arabs and sec­ond world­wide af­ter Ecuador. The study found Lithua­nia was ranked last in terms of em­pathiz­ing with oth­ers. One of the re­searchers, Wil­liam Chopik, said the study’s re­sults were sur­pris­ing as they had ex­pected the US to come first on the list in­stead of sev­enth. The top ten coun­tries were Ecuador, Saudi Ara­bia, Peru, Den­mark, UAE, South Korea, USA, Tai­wan, Costa Rica and Kuwait.

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