Although located in a region that includes several ostentatious and glitzy neighbours, Kuwait takes a different approach to attracting visitors. Nestled between Iraq and Saudi Arabia in the north-west corner of the Gulf, the country is turning itself into a regional centre of retail as well as culture.
ETIQUETTE: Kuwaitis are noted for their hospitality and welcoming attitude towards foreigners. Greetings are exchanged with enthusiasm, but when introducing yourself to members of the opposite sex, allow them to extend their hand to initiate a handshake. Although Kuwaiti women play a visible role in...
Over the past three years Kuwait has promulgated a number of laws concerning public-private partnerships (PPPs). Although relatively new to the PPP regime, Kuwait has, at least for now, embraced the concept, as evidenced by the diverse pipeline of projects that have either already commenced or are actively being considered.
Groups of companies, rather than single entities, have traditionally emerged in the Gulf, which means that stakeholders can partition assets and segregate riskier ventures, thereby shielding the group as a whole from liabilities. Particularly when companies are dispersed across GCC jurisdictions, the group structure allows owners greater flexibility...
The 2008 financial crisis has caused regulators and investors to call into question the purpose and value of the traditional statutory audit. Partially as a consequence of this, major investigations are under way around the world into the regulation and structure of the audit profession. Commentators have tended to look at the issues surrounding...
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