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INDIAN (B)

Bankers see more rate cuts in the offing

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At the sixth bi-monthly monetary policy review Thursday the RBI surprisingly reduced the repo rate by 25 basis points to 6.25 percent and also changed the policy stance to ‘neutral’ from the earlier ‘calibrated tightening’ it had said in the December review, signalling further softening on its approach to rates if the inflation prints at the projected lower levels



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MIDDLE EASTERN (B)

Kuwait to Reduce Number of Expat Employees, Target for Kuwaitization at 90 Percent

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The government has issued a decree to reduce the number of expatriates in all government departments by the next fiscal 2019/2020, which will start on April 1, reports Annahar daily.

According to a resolution issued by the Council of Ministers last weekend it will prevent any exception to this resolution as the government seeks to raise the rate of recruitment (localization of posts) in ministries and government institutions to more than 90 percent by the end of next fiscal year.

The government has issued a decree to reduce the number of expatriates in all government departments by the next fiscal 2019/2020, which will start on April 1. (Shutterstock)

© 2019 Arab Times Kuwait English Daily. All Rights Reserved.

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