Business

Kuwait reiterates OPEC output cut conformity

Market has capacity to absorb higher oil prices: Saudi minister JEDDAH, April 21, (Agencies): The State of Kuwait has been committed to cutting oil production so as to restore balance at global markets, Kuwaiti Minister of Oil, Electricity and Water Bakheet Al- Rashidi said on Friday. The minister made the …

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‘Bank for Life’: KIB embarks on new chapter of its journey

New strategy focuses on offering next-level customer experience that delivers much more than just ‘banking’ KUWAIT CITY, April 15: KIB is no stranger to transformation. In fact, KIB has always recognized that change is not only inevitable, but a vital necessity. In today’s rapidly-evolving world, change is a must to …

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‘Mission accomplished’ for OPEC – Oil prices moving towards a level of $70/barrel and above

Finally, the oil organiation is to announce shortly that its mission to balance the high oil inventory in the tanks to its five-year average will be reached soon. The present balance is an excess of 35 million barrels which OPEC, with the participation of Russia, can bring to order with …

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KFAED inks $15m loan contract with Pakistan

Fund to help finance Golen-Gol Hydropower Project KUWAIT CITY, April 11: A supplementary loan agreement was signed today in Islamabad between the Islamic Republic of Pakistan and Kuwait Fund for Arab Economic Development (KFAED) whereby the fund will extend a loan of Kuwaiti dinars four million five hundred thousand (KD …

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Saudi Aramco says Jizan facilities safe after Houthis claim attack

DUBAI, April 11 (Reuters) – Saudi Aramco said on Wednesday its facilities in the southwestern province of Jizan were operating “normally and safely” after Yemen’s Houthi movement said it launched a drone strike on a facility belonging to the Saudi state energy company. Share

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Saudi set to beat Qatar to market with triple-tranche bond issue

Banks’ loan growth to start upward trend in 2018: SABB chief DUBAI, April 10, (RTRS): Saudi Arabia has opened books for a triple-tranche dollar bond while Qatar is meeting global investors ahead of its return to the debt markets since the beginning of a diplomatic crisis last year. The Saudi …

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MoU signed to ‘prevent’ the smuggling of oil derivatives

KPC, Customs and KNPC collaborate KUWAIT CITY, April 9: Kuwait Petroleum Corporation (KPC), Customs General Department and Kuwait National Petroleum Company (KNPC) signed a memorandum of understanding (MoU) recently to stop the smuggling of oil derivatives, reports Al-Qabas daily quoting sources. This came after a remarkable increase in the prices …

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China blames US for the trade frictions, says negotiations currently impossible – Beijing unlikely to sell off US debt in trade dispute: researcher

BOAO/BEIJING, China, April 9, (RTRS): China stepped up its attacks on the Trump administration on Monday over billions of dollars worth of threatened tariffs, saying Washington is to blame for trade frictions and repeating it was impossible to negotiate under “current circumstances”. The comments come after US President Donald Trump …

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Arab economies grew by 1.4 percent in 2017

Following is the first part of Arab Monetary Fund (AMF) report on Arab Economic Outlook including forecasts of macroeconomic performance for Arab countries in 2018 and 2019. – Editor In line with its continuous efforts to support policymakers in the Arab region, the Arab Monetary Fund (AMF) releases April edition …

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Al-Ahli Academy win SA Milan Championship Cup

Al-Ahli Football Academy of Kuwait Team (U14) won in Italy’s SA Milan Championship Cup, defeating AC Milan Football Academy of Kuwait by 5-1. The Al-Ahli players had a strong performance in the championship under their coach — Hisham Wajdi. The championship is considered the beginning of titles that Al-Ahli Academy …

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