Kuwait eyes $37m US deal for bombing guidance kit

Kuwait is poised to seal a $37 million deal with the United States for the supply of a guidance kit that converts unguided bombs, or “dumb bombs”, into all-weather “smart” munitions. The US State Department said in a statement that it has made a determination approving a possible foreign military sale to the Government of Kuwait for Joint Direct Attack Munition (JDAM) Tail Kits and related equipment, and support. The statement said Kuwait has requested a possible total sale of 750 JDAM Tail Kits including 250 for 500-pound bombs, 250…

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Brazilian food exporter BRF to raise $1.5bn from IPO of Dubai unit

Brazilian food exporter BRF SA is seeking to raise about $1.5 billion from the sale of a 20 percent stake of a Dubai-based unit focused on the halal processed food market via an initial public offering, two people with direct knowledge of the plan said on Thursday. São Paulo-based BRF, the world’s No. 1 poultry exporter, expects to price the One Foods Holdings Ltd’s IPO by late March or early April, depending on market conditions, said the people. London is likely to be picked as the listing place, they said….

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Kuwait Petroleum Corp says committed to new oil output cut

State-owned Kuwait Petroleum Corp (KPC) said on Wednesday it was committed to an oil output cut agreed by the Organization of Petroleum Exporting Countries at a meeting in Vienna in November, Kuwait’s state news agency KUNA reported. KPC said in a statement it had notified its clients of the production cuts from the start of January, saying they will be in effect for the whole of the first quarter of 2017. Under the agreement reached in Vienna on Nov. 30 to cut output by 1.2 million barrels per day, Kuwait…

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International Olympic Committee refuses Kuwait's request to lift sports ban

The International Olympic Committee (IOC) has refused a request from Kuwait to temporarily lift the ongoing sports ban imposed on the county’s athletes. Kuwait has been suspended from participating in international competitions following a ban imposed by the IOC in October 2015 over government interference in local sports; football’s governing body FIFA imposed a similar ban soon after. The move came after Kuwait had introduced a new law giving the government the authority to take control over all sports bodies and national federations. The country’s athletes were able to compete…

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