Friday , December 15 2017

Business

Kuwait stocks retreat sharply, volume rises – Jazeera Airways up 10 fils; Humansoft tumbles

KUWAIT CITY, Oct 18: Kuwait stocks retreated sharply on Wednesday as most of the investors remain cautious. The price index tumbled 29.64 points in a broad decline to 6,618.66 points. The KSX-15 benchmark closed nearly flat to stand at 1,008.37 points while the weighted index fell 0.87 points. The turnover …

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Kuwait Oil Company marks breakthrough performance – Region’s first deployment of smart drill bit by BHGE

KUWAIT CITY, Oct 17: Kuwait Oil Company (KOC) has achieved the highest rate of penetration (ROP) ever achieved in Kuwait’s North field with the region’s first deployment of the BHGE TerrAdapt™ adaptive drill bit combined with the BHGE AutoTrak™ eXpress rotary steerable system. The North field is a challenging application …

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Kuwait’s stocks extend gains, volume rebounds – Jazeera Airways up 20 fils; Boubyan Bank advances

KUWAIT CITY, Oct 17: Kuwait stocks extended gains into second day on Tuesday, helped by rebound in technology shares. The main index advanced 12.34 points in choppy trading to close at 6,648.3 points. The KSX-15 benchmark rose 1.28 points to 1,008.41 points and the weighted index was up 0.28 points. …

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Value of K-net transactions surpassed $1 billion in 2016 – Digital business sees major prosperity

KUWAIT CITY, Oct 17, (KUNA): Minister of Commerce and Industry Khaled Al-Roudhan said Tuesday that the transactions value of the retail payment system (K-net) in Kuwait has surpassed $1 billion in 2016. Digital business in Kuwait has seen lately a major prosperity, Al- Roudhan, also Acting Minister of State for …

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KFH posts KD 137.9mn net profit until end of Q3 – Earnings per share rise 11.8% to 24.26 fils; total operating income up 9.1%

KUWAIT CITY, Oct 16: Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that “KFH has, by the grace of Allah, realized a KD 137.9 million net profit to shareholders until end of Q3 2017 compared to KD 123.1 million for the same period last year i.e. an increase …

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Global oil producers may not need to extend cuts: Kuwait – World energy demand expected to rise

KUWAIT CITY, Oct 16, (Agencies): Oil producers may not need to roll over a deal to cut production beyond March if all members fully comply with their pledges, the Kuwaiti oil minister said Sunday. “The current reduction deal is sufficient to achieve the desired purpose,” of rebalancing the oil market, …

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Kuwait’s stocks inch higher on thin trades – KFH gains 10 fils on earnings; Humansoft dives

KUWAIT CITY, Oct 16: Kuwait stocks inched higher on Monday as bank shares rose after KFH posted a 12 pct increase in its net profit until the end of Q3 2017. The main index rose 13.66 points amid slightly volatility trade to settle at 6,635.96 points. The KSX-15 benchmark advanced …

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Wataniya Airways to launch Beirut flights

Kuwait Wataniya Airways announced launching flights to Beirut, Lebanon, as of Nov 9, with four flights weekly to and from Kuwait International Airport. The new destination will boost the company’s performance rate, head of Wataniya’s public relations and media department Lana Al-Rasheed told KUNA on Sunday. The company aims to …

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Non-oil growth pegged at 0.8% in 2017, 1.1% next

More than three years into the oil price downturn and the Saudi economy continues grapple with subdued domestic demand, lower consumer confidence and the effects of the pullback in government spending. Energy and utility subsidies have been curtailed, taxes have been introduced, public sector bonuses have been frozen (though now …

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