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Sunday 20 September 2009
Saturday 19 September 2009
Plenty of entertainment; What’s on, what’s off during Eid
Entertainment
Entertainment City: The Kuwait Entertain-ment City — offering exciting and entertainment games and activities — will be a dream land to celebrate the Eid Al-Fitr holidays. The city will be open from 4:00 pm until 12 midnight during Eid holidays. The entry fee is KD 3.
Don’t miss to visit the different ‘world’s’ at the city. The Arab world includes the Gulf Sailing Boats, Sinbad the sailor and others. International world includes The African Boat Ride, The Australian Gondola, The European Cars, The Cowboys Arena, etc. The Future world offers thrilling rides that portray scientific advancements and the civilizations of the future.
For more information contact: 24879455.
The Khairan Resort: Children along with their families will love every moment in this fascinating resort that is full of fun activities. From video games, play grounds, fancy bicycles for hire, restaurants, tennis courts to a whole lot of other entertaining activities for children. For more information contact: 25742664.
Kuwait Zoo: Enjoy the amazing collection of rare and exotic animals from all over the world at the Kuwait Zoo. For children it is a matter of both education and fun to visit the new dapper zoo. Don’t go for a visit too late because the animals section of the zoo will be closed by 6:00 pm. For more information contact: 24733389.
Ice Skating Rink: For children and adults it is time to put on your skating shoes and set the ice on fire at the Ice Skating Rink. However remember not to go too early on Eid days, as the rink will open only at 10:30 am. On other days the rink will open on schedule — 8:30 am to 10:00 pm. For more details contact: 22411151.
Green Island: When you go for sightseeing in Kuwait, the place that you must visit for your relaxation is the Green Island in Kuwait. However during Eid Holidays the Island will become live with loads of concerts and theater shows. Children’s programs include joyrides and boat rides to satisfy the young children along with live musicals by a variety of bands for maximum fun and joy. The island is open from 8:30 am to midnight. Call 22526153 for more information.
The Scientific Center: On the First Day of Eid Al Fitr, the largest IMAX screen in Kuwait at The Scientific Center will premiere its latest 3D film ‘Under the Sea’. The film is directed by Award-winning documentary filmmaker Howard Hall and the production team behind IMAX® film favorites ‘Deep Sea 3D’ and ‘Into the Deep 3D’.
Unlike any other, this new film will transport audiences to some of the most exotic and isolated undersea locations on Earth, including Southern Australia and the Great Barrier Reef, as well as Papua New Guinea and Indonesia in the famed Coral Triangle, for face-to-face encounters with some of the most mysterious and stunning creatures of the sea.
Narrated by Jim Carrey, ‘Under the Sea 3D’ offers an inspirational and entertaining way to explore the unique beauty of this rarely seen realm, and an awareness of the impact that global climate change is having on the oceanic wilderness.
In addition to that the Scientific Center will host the “Hope you are a winner” show on Kuwait Radio 5:40 am during all three days of Eid from 6:00 to 8:00 pm. They will have contests and give away prizes.
Opening hours for Eid are from 2:00 pm to 12:00 midnight on first day of Eid, 9:00 am to midnight on second day of Eid and until Sept 25, 2009. For more information contact: 22240025.
All the cinemas over the country will open again from the first day of Eid with shows both in the morning and evening.
Failaka Island: The ferry to Failaka Island will operate on all days of the week departing from Salmiya in the morning. The return trip from Failaka Island will begin in the afternoon, arriving at mainland latest by 6:00 pm. The duration of the trip one way is one-and-half hours. The duration stay at the Island is three hours during Eid.
Bookings are open up to half an hour prior to the departure time at KPTC office in Ras Salmiya (behind Showbiz), where the dock is also situated. For more information call 25742664.
Hotels
Courtyard by Marriott: Eid at Marriott will be unique as usual with its lavish buffets and brunches that take place throughout the year. However Eid here is special at three of Courtyard’s exceptional restaurants.
The Atrium will see a rich lunch and dinner buffet featuring live cooking stations, international and Arabic specialties and succulent desserts. Il Forno, the Italian restaurant, will be having a fantastic menu that will certainly delight the most demanding appetite. For more information contact: 22997000.
Hilton Resort Kuwait: Hilton will be having special lunch and dinner buffets at Teatro and Blue Elephant, the Thai restaurant. The dinner will start at 7 pm and go past midnight. For more information contact: 23725500.
Crowne Plaza: The hotel has decided to go the gastronomic route all the way: Special open buffets at Al Ahmadi restaurant for KD 12.950 per person along with three days of live Arabic band along with and Egyptian singer will be playing at the restaurant from the first day of Eid.
Noukhaza, sea-food restaurant, will have lunch and dinner buffets, costing KD 13.950 per person.
Ayam Zaman, Lebanese restaurant KD 9.950.
Fauchon, the French restaurant, has set menu costing KD 8.
At the Iranian restaurant, Shabistan, the a-la-carte menu is KD 10.950 per person, where you can order as much as you want. All prices include 15 per cent service charge. For more information contact: 24742000.
Radisson SAS: The hotel will run a special Eid dinner buffet at Al Bustan costing KD 15 per head. Timings are from 9 pm to 2 am. Special prices are available for children. For more information contact: 25756000.
JW Marriott: The hotel has much to offer with its oriental and international buffets along with its mouthwatering desserts. There is La Brasserie fro international specialties and Terrace Grill restaurant for some of the best Angus beef in town in its well refined environment. Japanese food lovers will enjoy Kei’s traditional Sushi, Tepenyaki and Sashimi. For more information contact: 22455550.
Shopping Centers: Shopping centers such as Sultan Center, City Center, Marina Mall, and Avenues Mall among others will be open throughout the holidays in addition to all cooperatives.
Embassies: The Eid holiday schedules of various foreign embassies in Kuwait are as follows. The embassies of Spain and Pakistan will be closed starting from Sept 20, Sunday, through Sept 22, Tuesday. The American and British Embassy will be closed on Sunday, Sept 20 and Monday Sept 21. The Indian embassy will be closed on Monday while the Bangladesh embassy will remain closed from Friday, Sept 18 to Saturday, Sept 26.
Post Offices: There will be no telegram facilities at the General Post Office at Salmiya, Hawalli, Shuwaikh, Jleeb, Jahra, Ahmadi and Fahaheel post offices on the first two days of Eid.
Banks: Banks will be closed throughout the following week starting Sunday, 20th. Work will start back on Sunday, Sept 27.
Weather Forecast on Eid day: Saturday will see Easterly wind with a speed around 21-25 km/h. Saturday will record the highest temperature of 40 degrees Celsius, and the lowest of 28 degrees C. Sunday will see mercury peaking at 42 degrees C, and lowest temperature of 27 degrees C with Westerly wind at 10 km/h and Easterly wind in the evening at 14 km/h. Monday will see the temperature peak 41 degrees C, with lowest reading of 29 degrees C with North Easterly wind of 21 km/h.
Sources: ARAB TIMES
By Rena Sadeghi
Arab Times Staff
All about Bhavishya Nirman bonds
Looking for an investment option that offers the safety and liquidity of fixed deposits but attractive rates of interest? Want an investment option that offers you a constant rate of interest? If that is what you are looking for, then answer to your prayers is Bhavishya Nirman Bonds.
Welcome to BNBs: BNBs are bonds issued by NABARD. They are basically zero coupon bonds, meaning you don't get any interest on them. Why BNBs? BNBs offer you far higher safety than any bank FD. Besides unlike FD, whose rate of interest varies as per the market situation, BNBs have managed to offer lucrative returns. This despite the low interest rates prevailing in the market.
Working of BNB: A BNB is actually a zero coupon bond, with a holding period of 10 years. As it is zero coupon, you don't earn any interest on it. However the bonds are sold at a discount to the face value. So the difference between the selling price and face value is the return you get.
E.g. if the bond's selling price is Rs 8,500 and the face value is Rs 20,000, it means, by making a nominal investment of Rs 8,500, you get a sum of Rs 20,000 at the end of 10 years. So the face value here is the maturity value of the bond.
Here your return is Rs 11,500 (Rs 20,000 - Rs 8,500). As the period of 10 years acts like a lock-in period, these bonds are listed on BSE in order to make them liquid.
Purchasing BNBs: BNBs can be purchased directly from NABARD or through the financial agencies that act as intermediaries for NABARD.
Holding BNBs: You can hold BNBs either in physical or in dematerialized form. In physical form, they are treated as negotiable instruments that can be transferred by endorsement and delivered by the holder. So in order to safeguard your bonds, it is always advisable to hold them in dematerialized form. Besides to sell the bonds, you must always hold the bonds in demat form.
Tax treatment: The disparity between the selling price and face value would attract capital gains tax. You have the choice of paying capital gains tax at 10 per cent on the disparity between the face value and the selling price or at 20 per cent on the disparity between the face value and the indexed issue price. TDS is not applicable here.
Rate of return: The rate of return on BNB is 8.93 per cent and is taxable. Post-tax yield is 8.29 per cent. It is a good investment option for those falling in higher tax brackets. But for those in lower tax brackets, bank FD is a better bet.
Warning: In the NABARD advertisements, you are given a simple interest rate of 12.18 per cent pa on these bonds. But this is highly misleading, as the effective yield is always compounded. It is 8.29 per cent, making it very attractive to long-term investors.
Bhavishya Nirman Bonds are zero coupon bonds with a period of 10 years. They are traded on BSE and are sold at the price that is lesser than the face value. They don't earn any interest, but as they are sold at discount to the maturity value, the difference between the two prices is your return. This return is taxable, and so is advisable for investors in higher tax bracket.
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