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...
STRUCTURES USED BY FOREIGN COMPANIES: Foreign entities have the option of carrying out business in Kuwait in one of the following ways:
In the world of retail, Kuwait is a heavy-hitter. In a 2011 study by management consulting firm AT Kearney, the country was ranked fifth on the global retail development index and the sector is the highest ranked in the Middle East and North Africa (MENA) region. This is despite a relatively small population of some 3.5m.
Dining out is a national pastime in Kuwait, and restaurants catering to a variety of tastes have sprung up in the capital over the past few years. Chinese, Japanese, Thai, Italian, Indian, American and Lebanese food are all heavily represented. With high levels of disposable incomes, Kuwaiti families provide a steady flow of customers to restaurants...
Not far from Kuwait International Airport, signs of the nation’s growing industrial infrastructure are sprouting up; just a short drive along the coastal road are the gantries and tanks of the Shuaiba refinery, one of the three refineries in Kuwait and just part of the vast network of facilities that underpin the nation’s oil and gas industry. Not...
The establishment of Boubyan Petrochemical Company in 1995 ended the government’s monopoly of the petrochemicals industry, but the activities of the state-owned Petroleum Industries Company (PIC) – often in partnership with private entities – continues to define the development of the sector. As a subsidiary of the Kuwait Petroleum Corporation (KPC...
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