Kuwait

Coordinates: 29°30′N 45°45′E / 29.500°N 45.750°E / 29.500; 45.750

Kuwait ⁱ/kuːˈweɪt/ (Arabic: دولة الكويت‎  Dawlat al-Kuwait), officially the State of Kuwait, is a country in Western Asia. Situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, it shares borders with Iraq and Saudi Arabia. As of 2014, Kuwait has a population of 4.2 million people; 1.3 million are Kuwaitis and 2.9 million are expatriates.

Oil reserves were discovered in 1938. From 1946 to 1982, the country underwent large-scale modernization. In the 1980s, Kuwait experienced a period of geopolitical instability and an economic crisis following the stock market crash. In 1990, Kuwait was invaded by Iraq. The Iraqi occupation came to an end in 1991 after military intervention by United States-led forces. At the end of the war, there were extensive efforts to revive the economy and rebuild national infrastructure.

Kuwait is a constitutional emirate with a high income economy backed by the world's sixth largest oil reserves. The Kuwaiti dinar is the highest valued currency in the world. According to the World Bank, the country has the fourth highest per capita income in the world. The constitution was promulgated in 1962, making Kuwait the most politically progressive country in the region. In recent years, political instability has hindered the country's economic development.

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Kuwait City

Kuwait City (Arabic: مدينة الكويت‎) is the capital and largest city of Kuwait. It has a population of 2.1 million in the metropolitan area. Kuwait City is the political, cultural and economic center of Kuwait. Kuwait City is considered a global city. Kuwait City's trade and transportation needs are served by Kuwait International Airport, Mina Al-Shuwaik (Shuwaik Port) and Mina Al Ahmadi (Ahmadi Port).

History

Early history

In 1613, the town of Kuwait was founded in modern-day Kuwait City. In 1716, the Bani Utubs settled in Kuwait. At the time of the arrival of the Utubs, Kuwait was inhabited by a few fishermen and primarily functioned as a fishing village. In the eighteenth century, Kuwait prospered and rapidly became the principal commercial center for the transit of goods between India, Muscat, Baghdad and Arabia. By the mid 1700s, Kuwait had already established itself as the major trading route from the Persian Gulf to Aleppo.

During the Persian siege of Basra in 1775–1779, Iraqi merchants took refuge in Kuwait and were partly instrumental in the expansion of Kuwait's boat-building and trading activities. As a result, Kuwait's maritime commerce boomed. Between the years 1775 and 1779, the Indian trade routes with Baghdad, Aleppo, Smyrna and Constantinople were diverted to Kuwait. The East India Company was diverted to Kuwait in 1792. The East India Company secured the sea routes between Kuwait, India and the east coasts of Africa. After the Persians withdrew from Basra in 1779, Kuwait continued to attract trade away from Basra.

Car rental

A car rental, hire car, or car hire agency is a company that rents automobiles for short periods of time, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and often complemented by a website allowing online reservations.

Car rental agencies primarily serve people who require a temporary vehicle, for example those who do not own their own car, travelers who are out of town, or owners of damaged or destroyed vehicles who are awaiting repair or insurance compensation. Car rental agencies may also serve the self-moving industry needs, by renting vans or trucks, and in certain markets other types of vehicles such as motorcycles or scooters may also be offered.

Alongside the basic rental of a vehicle, car rental agencies typically also offer extra products such as insurance, global positioning system (GPS) navigation systems, entertainment systems, and even such things as mobile phones.

Vehicle leasing

Vehicle leasing is the leasing (or the use of) a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay. The key difference in a lease is that after the primary term (usually 2,3 or 4 years) the vehicle has to be returned to the leasing company for disposal.

Rationale

Vehicle Leasing offers advantages to both buyers and sellers. For the buyer, lease payments will usually be lower than payments on a car loan would be, and qualification is often easier. Any sales tax is due only on each monthly payment, rather than immediately on the entire purchase price as in the case of a loan. Some consumers may prefer leasing as it allows them to simply return a car and select a new model when the lease expires, allowing a consumer to drive a new vehicle every few years without the responsibility of selling the old vehicle, or possible repair costs after expiry of the manufacturer's warrantee. A lessee does not have to worry about the future value of the vehicle, while a vehicle owner does. For a business lessor there are tax advantages to be considered.