Wednesday , November 22 2017

Business

Kuwait’s stocks dive to end week on sour note – Zain gains 3.38 pct; United Project Co dives

KUWAIT CITY, Oct 5: Kuwait stocks retreated sharply on Thursday to end the week on a sour note amid rising speculation. The price index declined 30.45 points in a lackluster trade to 6,662.11 points as the boards remained mixed. The KSX-15 benchmark rose 5.2 points to 1,028.73 points while the …

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Qatar has enough reserves to support banks – Central bank says reports of banking sector stress are false

DUBAI, Oct 4, (RTRS): Qatar’s government has enough reserves to support its banks in the face of sanctions imposed by other Arab states and reports of its banking system being under strain are false, its central bank governor said on Wednesday. “The government and the central bank are able to …

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Kuwait Energy sells 25% of shares in Egyptian oil field

KUWAIT CITY, Oct 4, (KUNA): Kuwait Energy announced Wednesday the official approval on its Farm-Out Agreement (FOA) for 25 percent of its shares in the Abu Sennan concession in Egypt to GlobalConnect Ltd (GlobalConnect). Kuwait Energy CEO Sara Akbar said, “We are very pleased to have the farm-out agreement finalized …

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Kuwait’s stocks rise as tech shares lead – Ooredoo dives 20 fils; Nafais soars

KUWAIT CITY, Oct 4: Kuwait stocks ticked higher on Wednesday as blue-chips continued to see buying following last week’s upgrade of Boursa Kuwait to secondary emerging market status. The main index climbed 27.74 pts to close at 6,692.56 pts. The KSX-15 index rose 2.22 pts to 1,023.53 pts. The weighted …

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Limak Construction meets with UK Transport Secretary Chris Grayling – Activities in Kuwait discussed

KUWAIT CITY, Oct 2: On Sept 27, 2017, Limak Construction met with Her Majesty’s Principal Secretary of State for Transport Chris Grayling of the United Kingdom to present the company’s latest activities in Kuwait and discuss future opportunities with the United Kingdom (UK). Limak is a leading contractor currently constructing …

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Kuwait ranked 1st among importers of German goods

KUWAIT CITY, Oct 2, (KUNA):With an investment volume of over EUR 30 billion, Kuwait is ranked first among importers of German goods within the European Union, and fifth on the global scale, Ambassador Karlfried Bergner said Monday. “Trade relations with Kuwait are very good. We are looking forward to beefing …

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Kuwait’s index climbs amid sluggish trading – Agility gains 10 fils; Gulf Bank up 1.24%

KUWAIT CITY, Oct 2: Kuwait’s stocks saw a modest rebound on Monday as the price index rose 2.9 points in sluggish trading to close at 6,674.53 points with mixed boards. The KSX-15 benchmark was up 0.96 points to 1,016.93 points while the weighted index fell 0.09 points. The volume turnover …

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Kuwait’s top investors to gather for 2nd edition of ArabNet confab – Meet to focus on Kuwaiti, GCC markets

KUWAIT CITY, Oct 1: Under the patronage of HE Khaled Nasser Abdullah Al-Roudan, Minister of Commerce and Industry and Minister of State for Youth Affairs, ArabNet Kuwait is back in its 2nd edition after its major success in 2016. Taking place on Oct 17-18, at the Arraya Ballroom, the conference …

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Gulf states say goodbye to tax-free ‘reputation’ – UAE doubles price of tobacco and ups soft drinks prices

DUBAI, Oct 1, (AFP): Hard hit by a drop in oil income, energy-rich Gulf states will next year introduce value-added tax to a region long known for being tax-free. Some have hailed introducing VAT as the start of “exciting, dramatic” change in the region, but the measure is also expected …

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Kuwait’s stocks inch lower; volume soars – NBK spikes 25 fils; Agility jumps 11 fils

KUWAIT CITY, Oct 1: Kuwait’s stocks inched lower on Sunday on the first day of trading after FTSE decision to upgrade the bourse to an emerging market. The price index dived 8.1 points in a slightly volatile trading to close at 6,671.63 points with mixed boards as investors were uninspired …

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