http://www.arabtimesonline.com Add News en-US admin@arabtimesonline.com KUWAIT, July 30, (KUNA): Boubyan Petrochemical Company (BPC), a Kuwaiti shareholding company, said on Thursday planned release of 30 percent cash dividend (30 fils per share) to shareholders for the fiscal year ending April 30. BPC’s Deputy Chairm... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157521/reftab/69/Default.aspx SuperUser Account Sat, 31 Jul 2010 05:58:01 GMT BAGHDAD, July 30, (RTRS): Iraq is considering postponing an auction for companies who want to develop its gas fields to give them more time, its oil ministry said on Thursday. The ministry will hold a workshop in Istanbul on Aug 1-2 to discus deta... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157520/reftab/69/t/Iraq-considering-to-postpone-gas-fields-auction-workshop-in-Turkey/Default.aspx SuperUser Account Sat, 31 Jul 2010 05:57:40 GMT LONDON, July 30, (Agencies): British Airways PLC on Friday said its losses widened 15 percent to £122 million ($190 million) in the three months ending June 30 as operations were disrupted by cabin crew strikes and a cloud of volcanic ash from Icela... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157519/reftab/69/Default.aspx SuperUser Account Sat, 31 Jul 2010 05:57:06 GMT LONDON, July 30, (Agencies): British consumer morale fell to its lowest in almost a year in July as worries about the impact of government spending cuts drove expectations for the next 12 months to their lowest since the deepest point of the recessi... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157518/reftab/69/Default.aspx SuperUser Account Sat, 31 Jul 2010 05:56:39 GMT NEW YORK/CHARLOTTE, N.C., July 29, (RTRS): More Americans are losing sleep over money matters, such as saving enough for retirement, and half say their appetite for risk has diminished, according to a survey by Merrill Lynch. Americans’ worries ab... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157475/reftab/69/t/US-sleepless-on-money-concerns/Default.aspx SuperUser Account Fri, 30 Jul 2010 06:25:05 GMT LONDON, July 29, (RTRS): After marching to the same tune for the past decade, Britain’s property market and its economy are going separate ways, and further house price falls look likely into 2011 even if the recovery broadens. In the three months... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157472/reftab/69/t/UK-property-GDP-diverge/Default.aspx SuperUser Account Fri, 30 Jul 2010 06:23:58 GMT KUWAIT CITY, July 28: Al Mazaya Holding has announced its financial results for the second quarter and first half of 2010, posting a total profit of KD 2,564,755 and earnings per share (EPS) amounting to 5.50 fils. These results reflect Al Mazaya Ho... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157451/reftab/69/Default.aspx SuperUser Account Thu, 29 Jul 2010 05:35:55 GMT KUWAIT, July 28, (RTRS): A Kuwaiti court has given the country’s central bank four more months to submit a report on the debt restructuring plan of Islamic firm Investment Dar , the company said on Wednesday. Investment Dar, which owns half of Bri... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157450/reftab/69/Default.aspx SuperUser Account Thu, 29 Jul 2010 05:35:08 GMT KUWAIT CITY, July 28: Central Bank of Kuwait (CBK) approved the request of Kuwait Financial Centre (Markaz) to repurchase or divest a 10 percent maximum of its issued shares for further 6 months, as of the current approval expiry on July 23, 2010. ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157449/reftab/69/t/Markaz-gets-cenbank-nod-on-10-pct-repurchase/Default.aspx SuperUser Account Thu, 29 Jul 2010 05:34:44 GMT KUWAIT CITY, July 28, (Agencies): The United States Attorney’s Office moved to dismiss the Indictment against Holdings, an Agility subsidiary, Wednesday. “While the prosecutors’ motives for seeking this dismissal at this time are unknown, this reque... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157431/reftab/69/t/Move-to-pull-indictment-on-Agility-unit/Default.aspx SuperUser Account Thu, 29 Jul 2010 05:15:13 GMT KUWAIT CITY, July 27: Commercial Bank of Kuwait announced an operating profit before provisions for the period of KD42.046 million (2009: KD 66.911 million). This was allocated as provisions against the loan and investment portfolios resulting in a ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157409/reftab/69/t/Commercial-Bank-of-Kuwait-H1-operating-profit-at-KD-42m/Default.aspx SuperUser Account Wed, 28 Jul 2010 05:17:11 GMT KUWAIT CITY, July 27, (KUNA): Boubyan Bank posted a net profit of KD three million in the first half of 2010, compared to a net loss of KD 11.7 million for the same period last year. In a press release, Chairman Ibrahim Al-Qadhi said that these re... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157408/reftab/69/t/Boubyan-Bank-posts-KD-3mln-H1-profit/Default.aspx SuperUser Account Wed, 28 Jul 2010 05:15:51 GMT KUWAIT CITY, July 27, (RTRS): Gulf Bank expects to boost its profits in the third quarter and sees 2011 as a year of recovery, as the lender leaves its aggressive provisioning policy behind it, Chief Executive Michel Accad said. Gulf Bank, which w... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157407/reftab/69/t/Gulf-Bank-expects-profit-boost-in-Q3/Default.aspx SuperUser Account Wed, 28 Jul 2010 05:15:30 GMT NBK’s latest Money Brief stated: June credit posted a large drop, KD 253 mn, largely because of debt repayments related to the USD 10.7 billion Zain deal for the sale of its African assets. For one, the company settled a large syndicated loan, a s... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157406/reftab/69/t/Kuwait-credit-falls-KD-253-mln-deposits-flat/Default.aspx SuperUser Account Wed, 28 Jul 2010 05:15:01 GMT SAN FRANCISCO, July 27, (AFP): Banking colossus Citigroup on Monday released an update to stop its iPhone mobile banking software from secretly squirreling away basic account and transaction data. “During a recent review, we discovered that our US... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157401/reftab/69/t/Citigroup-fixes-security-flaw/Default.aspx SuperUser Account Wed, 28 Jul 2010 05:07:09 GMT KUWAIT CITY, July 26, (RTRS): Kuwait’s Gulf Bank swung to a second-quarter net profit of KD 1.48 million ($5.14 million) from a loss of KD 9.1 million a year earlier, after the lender sold. Gulf Bank in a statement on Monday reported a net profit ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157364/reftab/69/Default.aspx SuperUser Account Tue, 27 Jul 2010 06:09:36 GMT KUWAIT CITY, July 26, (KUNA): The Kuwait Airways Company constituent committee Monday announced receipt of offers for alliances of investment banks and aviation activity and related auditing specialists, that are to promote shares in the new company... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157363/reftab/69/t/KAC-gets-privatization-offers/Default.aspx SuperUser Account Tue, 27 Jul 2010 06:09:14 GMT DUBAI, July 26, (RTRS): Nakheel, the property developer behind Dubai’s palm-shaped islands, has proposed repaying its bank debt after five years and one outstanding $1.85 billion syndicated Islamic loan after seven, a source close to the company sai... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157362/reftab/69/t/Nakheel-proposes-7-yrs-to-repay-Islamic-loan/Default.aspx SuperUser Account Tue, 27 Jul 2010 06:08:50 GMT MUMBAI, July 26, (RTRS): Indian real estate firm DLF is buying out the stake held by a property unit of debt-laden Dubai World in an equal joint venture in India for about 2 billion rupees ($43 million), the Economic Times reported on Monday. A un... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157361/reftab/69/Default.aspx SuperUser Account Tue, 27 Jul 2010 06:08:17 GMT KUWAIT CITY, July 25: Kuwait stock market  revved up on  Sunday led by moderate buying in select stocks. The index rose 33 points in  choppy trade extending the gains to  third consecutive session. The sentiments  were  cautiously positive  even as ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157322/reftab/69/Default.aspx SuperUser Account Mon, 26 Jul 2010 06:12:41 GMT DUBAI, July 25, (RTRS): Dubai’s main stock index posted its biggest decline in almost a month on Sunday after disappointing earnings from two of its most valuable companies, Emaar Properties and Dubai Financial Market. The index fell 1.4 percent t... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157321/reftab/69/Default.aspx SuperUser Account Mon, 26 Jul 2010 06:11:54 GMT KUWAIT CITY, July 25: IIG Investment Group K.S.C.C (“IIG”) has notified IIG Funding Limited (“Trustee”) that it will not be in a position to settle an exercise notice in the sum of $152,467,782.22 comprising $147,490,000 being the aggregate face amo... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157320/reftab/69/Default.aspx SuperUser Account Mon, 26 Jul 2010 06:11:12 GMT KUWAIT, July 25, (Agencies): Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Sabah announced on Sunday the issuance of CBK’s Annual Report 2009-10. In a statement to KUNA, the governor said that this was the 38th report to b... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157319/reftab/69/Default.aspx SuperUser Account Mon, 26 Jul 2010 06:10:34 GMT KUWAIT CITY, July 24: Kuwait Stock Exchange (KSE) continued to, cautiously, record gains during the past week amid growth in trading levels. Last week’s average daily turnover grew by 30.68 percent, compared to previous week’s levels, to reach KD 38... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157281/reftab/69/Default.aspx SuperUser Account Sun, 25 Jul 2010 06:14:00 GMT LONDON, July 24, (AFP): A London developer has apologised to Prince Charles for naming him in a lawsuit against his Qatari partners over a failed building project, after finally settling the dispute, reports said Saturday. Christian Candy’s CPC Gr... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157280/reftab/69/t/Developer-sorry-for-naming-prince-in-Qatar-row/Default.aspx SuperUser Account Sun, 25 Jul 2010 06:13:06 GMT DUBAI, July 24, (RTRS): Vodafone Qatar and Qatar Telecom on Saturday both welcomed a ruling by regulators in a dispute over Virgin Mobile’s entry to the local market, but there were signs the battle may have further to run. Regulator ictQATAR said... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157279/reftab/69/Default.aspx SuperUser Account Sun, 25 Jul 2010 06:12:42 GMT TEHRAN/ANKARA, July 23, (RTRS): Iran’s Oil Ministry said the country had signed a 1 billion euro ($1.3 billion) pipeline deal to take gas to Turkey and a Turkish firm called Som Petrol said it was the partner in the project. “The one billion euro dea... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157234/reftab/69/t/Iran-signs-one-billion-euro-gas-pipeline-deal-with-Turkish-firm/Default.aspx SuperUser Account Sat, 24 Jul 2010 05:58:27 GMT TEHRAN, July 23, (RTRS): Iran plans to issue bonds worth some 11.5 billion euros ($14.8 billion) by March 2011 to help finance development of its energy sector, the semi-official Mehr news agency quoted a senior official as saying on Friday. Analysts... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157233/reftab/69/Default.aspx SuperUser Account Sat, 24 Jul 2010 05:57:49 GMT LONDON, July 23, (RTRS): Britain’s plans to change the rate at which private-sector pensions are indexed for inflation could erase company pension deficits and free up cash for growth or higher returns to shareholders. The government said this month ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157232/reftab/69/t/UK-firms-to-enjoy-cash-boost-from-pension-changes/Default.aspx SuperUser Account Sat, 24 Jul 2010 05:57:07 GMT LONDON/MADRID, July 23, (Agencies): Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros ($4.5 billion), tests run in an attempt to revive investor confidence showed on... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157219/reftab/69/t/7-banks-fail-stress-test/Default.aspx SuperUser Account Sat, 24 Jul 2010 05:29:00 GMT KUWAIT CITY, July 22: Board of Directors of Arab Insurance Group (ARIG) met on July 21, 2010 and approved interim financial statements for the six months period ending June 30, 2010, as follows: For the three months ending June 30, 2010, ARIG incurre... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157202/reftab/69/t/ARIG-logs-AED-2764-K-loss-in-first-half/Default.aspx SuperUser Account Fri, 23 Jul 2010 06:18:07 GMT DUBAI, July 22, (RTRS): Dubai’s Emaar Properties swung to a second-quarter profit on Thursday but missed analysts’ estimates as the developer handed over fewer units than forecast at the world’s tallest tower, Burj Khalifa. Emaar made a second-quarte... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157201/reftab/69/t/Emaar-swings-to-Q2-profit/Default.aspx SuperUser Account Fri, 23 Jul 2010 06:17:33 GMT DUBAI, UAE, July 22, (Agencies): Dubai World on Thursday formally presented its $23.5 billion restructuring plan to scores of creditor banks as it seeks closure to its months-old debt crisis, but made clear that wrangling over the deal could grind on... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157200/reftab/69/Default.aspx SuperUser Account Fri, 23 Jul 2010 06:17:13 GMT KUWAIT CITY, July 22, (RTRS): Kuwait Finance House (KFH), the country’s biggest Islamic lender, set aside 78 million dinars ($270.2 million) to meet loan losses in the first half of 2010, a top executive said in aired remarks on Thursday. “Most of th... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157199/reftab/69/Default.aspx SuperUser Account Fri, 23 Jul 2010 06:16:47 GMT KUWAIT CITY, July 21: Kuwait Financial Centre “Markaz”, one of the Middle East’s leading investment banking and asset management companies, announced the launch of the US Distressed Debt Program, which will invest in non-performing and sub-performin... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157170/reftab/69/t/Markaz-announces-US-distressed-debt-scheme/Default.aspx SuperUser Account Thu, 22 Jul 2010 06:22:33 GMT KUWAIT CITY, July 21, (RTRS): Kuwaiti logistics firm KGL said the United States government has agreed to look into an objection filed by the company regarding the award of a military supply contract to its competitor. The firm, also known as Kuwai... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157169/reftab/69/t/KGL-says-US-govt-to-consider-contract-challenge/Default.aspx SuperUser Account Thu, 22 Jul 2010 06:21:37 GMT LONDON/DUBAI, July 21, (RTRS): Pivotal talks this week on restructuring the debts of Dubai World could be a trigger for investors to return to the Gulf region, under a cloud since the state firm suspended bond payments last year. Dubai World has inv... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157145/reftab/69/t/Dubai-World-restructuring-may-trigger-Gulf-gains/Default.aspx SuperUser Account Thu, 22 Jul 2010 05:31:58 GMT DUBAI, United Arab Emirates, July 21, (Agencies): The Inter-national Monetary Fund on Wednesday urged Gulf Arab states to lend further support to financial firms, shut down unworkable companies and boost transparency as they emerge from the global e... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157143/reftab/69/t/IMF-prescribes-financial-triage-in-Gulf/Default.aspx SuperUser Account Thu, 22 Jul 2010 05:31:04 GMT ABU DHABI, July 20, (AFP): A year after its first Formula One race, Abu Dhabi hopes to lure even more tourists with “Ferrari World” — a grandiose theme park that is the first of its kind for the iconic Italian carmaker. Ferrari World Abu Dhabi ann... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157124/reftab/69/t/Abu-Dhabi-lures-tourists-with-Ferrari-park/Default.aspx SuperUser Account Wed, 21 Jul 2010 06:40:16 GMT KUWAIT CITY, July 20: Ahli United Bank realized considerable profit levels in the first half of 2010. The net profit has reached KD 12.7 million. This profit was realized through income from core banking operations, that amounting to KD 40.0 million... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157123/reftab/69/Default.aspx SuperUser Account Wed, 21 Jul 2010 06:38:25 GMT KUWAIT CITY, July 20: Global Investment House (Global) announced that it has made a $50 million principal repayment of its bank debt value, July 21. Till date the total principal repayments to the lending banks reached $78.9 million representing 46%... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157122/reftab/69/Default.aspx SuperUser Account Wed, 21 Jul 2010 06:30:40 GMT KUWAIT CITY, July 20, (KUNA): Kuwait Ports Authority (KPA) and officials of Kuwait Investment Authority (KIA) discussed on Tuesday KIA funding for six construction and expansion projects, coming to an overall sum of KD 700 million and to be listed a... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157109/reftab/69/t/Ports-authority-asks-KIA-to-consider-KD-700m-funding/Default.aspx SuperUser Account Wed, 21 Jul 2010 05:45:22 GMT KUWAIT CITY, July 19, (RTRS): A Dubai court has ordered the National Bank of Umm Al Quwain to repay Kuwait’s Global Investment House $250 million, Global said on Monday. Global’s chief executive, Bader al-Sumait, said in a statement the money from... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157081/reftab/69/Default.aspx SuperUser Account Tue, 20 Jul 2010 05:41:18 GMT KUWAIT CITY, July 19, (KUNA): National Bank of Kuwait (NBK) said here Monday Moody’s agency has retained its long-term credit rating for the bank at “AA 2”, with a stable outlook. The rating agency has also kept the NBK in a leading position versu... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157080/reftab/69/Default.aspx SuperUser Account Tue, 20 Jul 2010 05:40:04 GMT DUBAI, July 19: According to a recent forecast by Business Monitor International, the Kuwait consumer electronics market is set to increase KD 205 million ($707 million) in 2010. The consumer electronics market is a key growth sector for emerging ma... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157079/reftab/69/t/Kuwait-consumer-electronics-mkt-to-rise-KD-205m/Default.aspx SuperUser Account Tue, 20 Jul 2010 05:39:33 GMT DUBAI, July 19, (RTRS): The UAE’s first IPO of 2010, scheduled for June by lead manager Shuaa Capital, will not take place before the fourth quarter due to the weak market, a banking executive familiar with the matter said. Shuaa said in May it wa... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157078/reftab/69/t/Weak-market-delays-UAE-1st-IPO-of-2010/Default.aspx SuperUser Account Tue, 20 Jul 2010 05:38:37 GMT KUWAIT CITY, July 18: Kuwait stocks faltered for the second straight session as investors toed the sidelines in the absence tangible fillips. The market eroded 20.1 points in slightly volatile trade weighed by National Bank of Kuwait. Select investm... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157032/reftab/69/Default.aspx SuperUser Account Mon, 19 Jul 2010 06:03:13 GMT Kuwait Stock Exchange announced that the Board of Directors of the Educational Holding Group Company met on July 15, 2010, and adopted the Interim financial statements of the company for the periods ending May 31, 2010. For the three months ending... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157031/reftab/69/t/Educational-Holding-Group-sustains-Q2-loss/Default.aspx SuperUser Account Mon, 19 Jul 2010 06:00:30 GMT KUWAIT CITY, July 18: Gulf Investment Corporation’s (GIC) portfolio of Funds specialized in Gulf bonds and equities reveal a positive performance in the first half of 2010 where Year-to-Date (YTD) returns of GIC’s Bond Fund in Kuwaiti Dinar and Gulf... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157030/reftab/69/Default.aspx SuperUser Account Mon, 19 Jul 2010 05:59:57 GMT Interest Rates During the month of June-10, the CBK has issued no Treasury Bonds; however, since the beginning of the year, CBK has continued its policy of helping banks, who have excess liquidity, to find short-term investment opportunities tha... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157029/reftab/69/t/KIBOR-remains-steady-for-fourth-month-in-row/Default.aspx SuperUser Account Mon, 19 Jul 2010 05:58:59 GMT KUWAIT CITY, July 18: Kuwait is likely to announce a 5-10 percent hike in petrol prices in August, reports Al-Seyassah daily. Prices of petrol and other related products are being reviewed and a report will be submitted to the Higher Petroleum Co... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157020/reftab/69/Default.aspx SuperUser Account Mon, 19 Jul 2010 05:37:56 GMT KUWAIT CITY, July 17: NBK’s latest Oil brief stated: Crude oil prices ended the month of June more or less where they started it, following a sharp fall in May. The price of Kuwait Export Crude (KEC) finished June at US$71 per barrel (pb), the same ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156980/reftab/69/Default.aspx SuperUser Account Sun, 18 Jul 2010 06:04:40 GMT KUWAIT CITY, July 17: By the end of last week’s activity, Kuwait Stock Exchange (KSE) managed to register weekly gains amid continued weakness in trading indicators. KSE’s performance began to solidify in the week before, backed by optimism that res... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156979/reftab/69/Default.aspx SuperUser Account Sun, 18 Jul 2010 06:03:55 GMT RIYADH, July 17, (Agencies): Zain Saudi Arabia, the kingdom’s newest mobile phone operator, posted its lowest quarterly loss since it started operations two years ago after revenues doubled on higher customers. The firm, 25-percent owned by Kuwait... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156978/reftab/69/t/Zain-Saudi-Q2-loss-lowest-since-launch/Default.aspx SuperUser Account Sun, 18 Jul 2010 06:03:25 GMT CAIRO, July 17, (KUNA): The Egyptian-Kuwaiti Development and Investment Company, a joint shareholding company, announced recently a plan to get its stocks listed on Egyptian Exchange (EGX) in April, 2011. The announcement was made in a joint press... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156964/reftab/69/t/Egypt-Kuwaiti-firm-to-list-on-EGX/Default.aspx SuperUser Account Sun, 18 Jul 2010 05:26:45 GMT WASHINGTON, July 16, (AP): Goldman Sachs & Co has agreed to pay $550 million to settle civil fraud charges that the Wall Street giant misled buyers of mortgage-related investments. The settlement was announced Thursday by the Securities and Exchan... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156944/reftab/69/Default.aspx SuperUser Account Sat, 17 Jul 2010 06:20:17 GMT NEW YORK, July 16, (RTRS): A bumpy European economic recovery and battered currency have helped stall European tourism to North America especially the Caribbean and Mexico, though Canada is faring better, tourism experts say. The number of Europea... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156943/reftab/69/t/EU-crisis-helps-stall-tourism/Default.aspx SuperUser Account Sat, 17 Jul 2010 06:18:48 GMT KUWAIT CITY, July 15: Kuwait Stock Exchange announced that the Board of Directors of the Tijara and Real Estate Investment Company (Tijara) met on July 15, 2010, and adopted the Interim financial statements of the company for the periods ending June... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156914/reftab/69/t/Tijara-suffers-KD-462-K-loss-in-2nd-quarter/Default.aspx SuperUser Account Fri, 16 Jul 2010 06:01:09 GMT DUBAI, July 15, (RTRS): Retail gold demand volumes in Dubai and Abu Dhabi were marginally up in June on the year because expatriates going on holidays had more disposable income to buy jewellery than a year ago, retailers said on Thursday. “During... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156913/reftab/69/t/UAE-gold-sales-up-in-June/Default.aspx SuperUser Account Fri, 16 Jul 2010 06:00:48 GMT DUBAI, July 15, (RTRS): Standard Chartered Plc expects to complete private equity deals in the Middle East in 2010, but sees the unhealthy IPO market and a price expectation gap between buyers and sellers as barriers to the sector’s revival. Taimo... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156912/reftab/69/Default.aspx SuperUser Account Fri, 16 Jul 2010 06:00:25 GMT GCC markets continued to follow global cues in June, losing 1% versus a drop of 11% in May. All GCC markets saw another month of declines, except Qatar which gained 1.68%; losses were led by a 7.45% decline on the DFM (Dubai). Saudi saw the least de... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156911/reftab/69/t/Gulf-markets-remain-weak-in-June/Default.aspx SuperUser Account Fri, 16 Jul 2010 05:59:59 GMT KUWAIT, July 14, (Agencies): Kuwaiti telecom firm Zain is open to investing in communications and the Internet in the Middle East, its chief executive said in remarks published on Wednesday. The state news agency KUNA quoted Nabil bin Salama as sa... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156882/reftab/69/Default.aspx SuperUser Account Thu, 15 Jul 2010 05:53:10 GMT KUWAIT CITY, July 14, (RTRS): National Bank of Kuwait, booked KD 23.5 million ($81.29 million) of provisions in the second quarter and expects a tougher second half, its chief executive said on Wednesday. “As for specific provisions, we booked aro... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156881/reftab/69/Default.aspx SuperUser Account Thu, 15 Jul 2010 05:52:40 GMT NEW DELHI, July 14, (AFP): India’s government, after showing its mettle with an unpopular repeal of fuel subsidies, might be set to bite the bullet on more reforms after years of dragging its feet, analysts say. Last month the government of Prime ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156880/reftab/69/Default.aspx SuperUser Account Thu, 15 Jul 2010 05:51:59 GMT TEHRAN, July 14, (RTRS): Some worry about higher food prices, some fret about overseas travel and others about business, but it is clear that ordinary Iranians are feeling the effects of sanctions imposed over Tehran’s nuclear programme. President... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156879/reftab/69/Default.aspx SuperUser Account Thu, 15 Jul 2010 05:51:24 GMT KUWAIT CITY, July 13: National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of $499.3 million (KD 145.2 million) for the first half of 2010 compared with $433.4 million (KD 126.1) for ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156833/reftab/69/Default.aspx SuperUser Account Wed, 14 Jul 2010 05:52:15 GMT KUWAIT CITY, July 13: Kuwait Stock Exchange announced that the Board of Directors of the Kuwait Building Materials Manufacturing Company (KBMMC) met on July 12, 2010, and adopted the Interim financial statements of the company for the periods ending... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156832/reftab/69/Default.aspx SuperUser Account Wed, 14 Jul 2010 05:51:09 GMT Kuwait occupies strategic location at the head of the Gulf, in close proximity to the large and expanding markets of Saudi Arabia, Iraq and Iran. Over the years, the country has developed a strong reputation in the logistics sector, built on the per... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156831/reftab/69/Default.aspx SuperUser Account Wed, 14 Jul 2010 05:50:42 GMT KUWAIT CITY, July 13, (RTRS): Kuwait’s consumer prices rose 0.8 percent month-on-month in March, lifted by rising food and housing costs, after falling 0.3 percent in February, the Gulf country’s statistics office said on Tuesday. Gulf consumer pr... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156830/reftab/69/Default.aspx SuperUser Account Wed, 14 Jul 2010 05:50:11 GMT BRUSSELS, July 13, (KUNA): The European Union (EU) and the Gulf Cooperation Council (GCC) have agreed to hold an “economic dialogue” every year to boost and expand economic and trade cooperation and relations between the two major regional blocs. ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156816/reftab/69/Default.aspx SuperUser Account Wed, 14 Jul 2010 05:26:39 GMT KUWAIT CITY, July 12: Gulf Bank has concluded its sponsorship of Injaz Kuwait’s ‘Battle of the Best’ competition 2010.  The competition, which was held on July 1st at the Salwa Al Sabah Ballroom, Marina Hotel, involved a number of talented students ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156780/reftab/69/t/Gulf-Bank-concludes-Injaz-sponsorship/Default.aspx SuperUser Account Tue, 13 Jul 2010 05:52:38 GMT KUWAIT CITY, July 12: Independent Petroleum Group (IPG) declared its preliminary results for the first half ending June 30, 2010 in which it is expected to achieve a net profit to KD 2.215 million or 15.32 fils per share and for the three months end... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156779/reftab/69/Default.aspx SuperUser Account Tue, 13 Jul 2010 05:51:31 GMT KUWAIT CITY, July 12, (RTRS): Kuwait Projects Co (KIPCO) plans to sell a 13 percent stake in its commercial banking arm Burgan Bank to its 96-percent owned unit United Gulf Bank, the firm said on Monday. KIPCO said it will not book any profits or ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156778/reftab/69/t/KIPCO-plans-to-sell-13-percent-stake-in-Burgan-Bank-to-UGB/Default.aspx SuperUser Account Tue, 13 Jul 2010 05:51:03 GMT NBK’s latest Money Brief stated: Credit growth in the second quarter picked up relative to the flat start of the year. Nonetheless, the pace of growth on a year on year (y/y) basis continues to slow down in the absence of any sustained stimulus. It ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156777/reftab/69/Default.aspx SuperUser Account Tue, 13 Jul 2010 05:50:23 GMT Zain the leading telecommunications company in Kuwait, announced the appointment of Abdullah Hammad Al-Jadaan as the Director of the Corporate Relations and Communications Sector. Al-Jadaan served previously as the Director of the Support Services S... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156726/reftab/69/t/Zain-appoints-Al-Jadaan-as-Director-of-Corporate-Relations--Communications/Default.aspx siraj mohammed Mon, 12 Jul 2010 05:58:44 GMT DUBAI, July 11, (RTRS): Troubled state conglomerate Dubai World has invited creditors to a July 22 meeting to offer details on its multi-billion dollar debt restructuring, the first session to include all lenders since December 2009. Three sources fr... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156729/reftab/69/t/Dubai-World-to-meet-creditors-July-22-on-debt-deal-details/Default.aspx siraj mohammed Mon, 12 Jul 2010 06:01:04 GMT KUWAIT CITY, July 11: Management representatives from The Investment Dar and the Coordinating Committee (CC) of its banks and investors plus their advisers met on July 6, 2010 in Dubai to discuss the impact on the current restructuring plan of the re... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156728/reftab/69/t/Investment-Dar-Coordinating-Committee-discuss-new-laws/Default.aspx siraj mohammed Mon, 12 Jul 2010 05:59:55 GMT KUWAIT CITY, July 11: Al Mazaya Holding has signed a lease contract for 10 floors of the 19-level Clover Clinic, the first integrated medical complex in Kuwait. The contract was signed with Dr Jamal Al Ghanem, CEO of Global Med, to operate integrated... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156727/reftab/69/t/Al-Mazaya-awards-contract-to-Dr-Jamal-Al-Ghanem/Default.aspx siraj mohammed Mon, 12 Jul 2010 05:59:18 GMT BEIJING, July 11, (AFP): Energy-hungry China, once stung in its efforts to secure access to resources in North America, is making a more subtle push into Canada’s oil sands, and the new approach is paying off, experts say. Chinese firms seeking a toe... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156725/reftab/69/Default.aspx siraj mohammed Mon, 12 Jul 2010 05:58:15 GMT Concerns about a drop in oil prices triggered by a further deterioration of the credit outlook and fiscal imbalances in European economies has heightened the regional bearish sentiment and spurred a wave of sell-offs in the GCC that drove stock marke... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156724/reftab/69/t/Gulf-bourses-hit-record-lows/Default.aspx siraj mohammed Mon, 12 Jul 2010 05:57:44 GMT The Qatar Financial Markets Authority organized a workshop on the authority’s guidelines on money laundering and terrorist financing — by virtue of Law No. (4) of 2010, related to combating money laundering and terrorist finance — in Doha on Wednesd... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156677/reftab/69/t/QFMA-hosts-workshop-on-money-laundering-guidelines/Default.aspx SuperUser Account Sun, 11 Jul 2010 06:27:42 GMT WASHINGTON, July 10, (Agencies): Boeing Co said the bid it submitted on Friday in the politically charged contest to build a new US Air Force tanker fleet was cheaper than its previous, failed bid against archrival airliner maker Airbus. The transatl... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156681/reftab/69/Default.aspx siraj mohammed Sun, 11 Jul 2010 06:32:54 GMT BEIJING, July 10, (Agencies): China’s trade surplus in June topped expectations on surprising strength in exports that suggests the global economic recovery has remained on track despite worries about a fresh slowdown. Many analysts believe the expor... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156680/reftab/69/Default.aspx siraj mohammed Sun, 11 Jul 2010 06:32:21 GMT RIYADH, July 10, (RTRS): Saudi Hollandi Bank had the best second quarter among three local lenders that announced quarterly earnings on Saturday after it cut costs by more than half to offset a decline in lending income. The bank, part owned by a ... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156675/reftab/69/t/Cost-cuts-help-Hollandi-outshine-Saudi-lenders-in-second-quarter/Default.aspx SuperUser Account Sun, 11 Jul 2010 06:27:00 GMT KUWAIT CITY, July 10: Kuwait Stock Exchange’s performance solidified last week, as it was able via the recorded increases throughout the week to register a weekly gain for its weighted index, while the price index closed with a minimal loss. The mar... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156674/reftab/69/Default.aspx SuperUser Account Sun, 11 Jul 2010 06:26:40 GMT SINGAPORE, July 9, (RTRS): Kuwait Petroleum Corp (KPC) cancelled a tender to sell 24,000 tonnes of light naphtha for early August loading due to low bids, dragged down by rising supplies and cracker outage in Taiwan, traders said on Friday. KPC ha... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156625/reftab/69/t/Kuwait-cancels-spot-tender-on-low-bids/Default.aspx SuperUser Account Sat, 10 Jul 2010 06:16:56 GMT LONDON, July 9, (RTRS): Lloyd’s of London will not insure or reinsure petroleum shipments going into Iran, the insurance market said on Friday. US President Barack Obama signed into law last week far-reaching new sanctions that aim to squeeze the Is... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156624/reftab/69/t/Lloyds-to-comply-with-sanctions-will-not-cover-Iran-petroleum-shipments/Default.aspx SuperUser Account Sat, 10 Jul 2010 06:15:26 GMT BEIRUT, July 9, (RTRS): Israeli plans to drill for gas in the Mediterranean sea have alarmed Lebanon, which says it also has major gas reserves but may lose out because it lags behind in exploration and the hostile neighbours have no sea border. L... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156623/reftab/69/t/Lebanon-and-Israel-tensions-grow-over-gas-find-dispute/Default.aspx SuperUser Account Sat, 10 Jul 2010 06:15:05 GMT WASHINGTON, July 9, (Agencies): The US Treasury avoided labeling China a currency manipulator in a much delayed report to Congress Thursday but maintained that the yuan was undervalued. Three weeks after the Chinese central bank vowed to loosen it... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156622/reftab/69/Default.aspx SuperUser Account Sat, 10 Jul 2010 06:14:36 GMT WASHINGTON, July 9, (AP): Inventories held by US wholesalers rose for a fifth consecutive month in May but sales fell for the first time in more than a year, sending a cautionary signal about the strength of the recovery. Wholesale inventories inc... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156621/reftab/69/Default.aspx SuperUser Account Sat, 10 Jul 2010 06:14:11 GMT BRUSSELS, July 8, (AFP): Europe agreed Thursday to let the United States tap into banking data for terrorism probes again, reviving a programme which officials said would save lives and protect the privacy of Europeans. The United States will agai... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156568/reftab/69/t/EU-ratifies-bank-data-sharing-deal-with-US/Default.aspx SuperUser Account Fri, 09 Jul 2010 06:19:59 GMT KUWAIT CITY, July 7: EQUATE Petrochemical Com-pany’s CFO Abdulkarim Mubarak said local and international banks are partners in financing the company’s plants, as well as the facilities of EQUATE II joint venture with the total value of $3.8 billion.... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156540/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:57:22 GMT DUBAI, July 7, (RTRS): Kuwait Projects Company (KIPCO), is considering a benchmark-sized bond issue with a 10-year tenor, lead arrangers said on Wednesday, making it the first offering from a Kuwaiti corporate this year. KIPCO is Kuwait’s largest inv... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156545/reftab/69/t/KIPCO-mulls-10-yr-benchmark-bond-issue-say-lead-arrangers/Default.aspx siraj mohammed Thu, 08 Jul 2010 06:00:04 GMT NBK’s latest GCC Brief stated: In late 2009, one year following the eruption of the global financial crisis, a widespread consensus emerged that risks facing GCC economies and banks were dissipating and that a solid recovery would be underway. At tha... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156544/reftab/69/t/Gulf-banks-lending-remains-weak/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:59:42 GMT KUWAIT CITY, July 7, (RTRS): Kuwait signed a $1.1 billion deal with South Korea’s Hyundai Engineering and Construction Co and local firm Kharafi Group to design and build a port near the Iraqi border. The commercial port on Boubyan Island is expected... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156543/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:59:12 GMT ABU DHABI, July 7, (AFP): BP chief executive Tony Hayward was in oil-rich Abu Dhabi on Wednesday amid speculation the British giant is seeking support from sovereign wealth funds following the Gulf of Mexico oil disaster. BP officials declined to giv... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156542/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:58:49 GMT KUWAIT CITY, July 7: TV viewing, like it used to, will never be the same with the coming of age of high definition 3D TV defined by the success of the blockbuster Sci-Fi movie “Avatar.” Panasonic and Easa Hussein Al Yousifi & Sons Co. Sunday launched... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156541/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:58:13 GMT KUWAIT CITY, July 7, (Agencies): The price of the Kuwaiti crude was up 17 cents in Tuesday transactions to settle for $67.81 per barrel (pb) compared to the previous price of $67.64 pb, said Kuwait Petroleum Corporation on Wednesday. The fall and fl... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156539/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:56:49 GMT KUWAIT CITY, July 7: Kuwait stocks post robust gains on Wednesday as buying revved up across the board. The index surged 94 points in volatile trade led by select blue chips. The market was also buoyed by speculative buying in some of the industrials... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156538/reftab/69/Default.aspx siraj mohammed Thu, 08 Jul 2010 05:56:25 GMT KUWAIT CITY July 6: Kuwait stocks staged a modest rebound on Tuesday stemming the 4-day decline. The index climbed 45 points in volatile trade led by select blue chips and some of the middle level industrials stocks. The market sentiments was slig... http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/156485/reftab/69/t/Kuwait-bourse-rebounds-45-pts-amid-surge-in-volume-turnover/Default.aspx siraj mohammed Wed, 07 Jul 2010 06:12:56 GMT