Thursday , October 19 2017

Business

Saudi Arabia to launch joint trade commission with Iraq – Sign of thaw

RIYADH, Aug 15, (AFP): Saudi Arabia and Iraq are to launch a joint trade commission, the Saudi cabinet announced Monday, in a sign of a thaw in ties between the two neighbours. “The cabinet has decided to approve the establishment of the Saudi-Iraqi Coordinating Commission and to delegate the Saudi …

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Oil prices rally on stock drawdowns, signs of slowing US output growth – OPEC output rises in June as Libya and Nigeria ramp up production

KUWAIT CITY, Aug 14: Prices made a strong comeback in July, reversing the bear trend of the last couple of months and returning to the symbolic $50 per barrel mark. Markets witnessed a reversal in sentiment in July, sparked by several factors including: OPEC banding together to recommit to production …

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Kuwait price index ends higher in choppy session – KFH rallies 9 fils; KIPCO retreats

KUWAIT CITY, Aug 14 : Kuwait stocks swung higher on Monday after treading water in the last session. The bourse climbed 13.16 pts in choppy trade to 6859.27 points paced by banks. The overall mood however remained cautious as investors await cues before taking up fresh positions. The KSX 15 …

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NREC posts KD 7.5m net profit in first half – Company earns KD 3.7 million in second quarter

KUWAIT CITY, Aug 14: National Real Estate Company (NREC), a leading regional developer with USD2 billion in projects under development in the UAE, Egypt and other markets, today released its financial results for the first half of 2017. H1 2017 Financial Highlights (YoY) * Operating Revenue: KD9.6 million, down 35.7% …

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Dollar pares back early gains on CPI; euro ends marginally higher – Safe haven buying lifts yen amid Korean tension

Markets were generally quite this week as they awaited US inflation figures due Friday. After last week’s robust US employment numbers, the inflation report would give a better indication to the next policy move by the Federal Reserve. While employment has been consistently strong, inflation has been relatively stagnant this …

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Kuwait little changed as Zain extends gains – NBK rallies 11 fils; Jazeera Airways drops

KUWAIT CITY, Aug 13: Kuwait stocks trod water on Sunday as it opened the week on a divergent note. The bourse inched 1.1 pts up in volatile session to 6,846.11 points even as Zain and National Bank of Kuwait saw strong buying interest. The broader trend however was largely mixed. …

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Oil prices firm on easing oversupply concerns

After declining to the lowest in 7  months during June-17, oil prices in early August-17 rose to the highest level since the last week of May-17 on declining crude inventories in the US that supported a march towards rebalancing of the oil market. A number of positive developments and data …

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Mezzan Holding reports H1 2017 financial results – Co posts KD 50.3mn in Q2 revenue, KD 2.0mn net profit

KUWAIT CITY, Aug 9: Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the Gulf, today announced the company’s financial results for Q2 2017. The company reported KD50.3 million in Q2 revenue, and a Q2 net profit of KD2.0 million. The …

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Kuwait bourse retreats further; volume shrinks – Jazeera Airways jump 17 fils; Zain slips

KUWAIT CITY, Aug 9: Kuwait stocks sagged further on Wednesday extending its losses to second straight session. The bourse fell 6.89 pts in volatile trade to 6,823.03 points even as the broader market trend remained mixed. The banks and other heavyweight were largely subdued. The KSX 15 gauge edged 0.94 …

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Oil producers committed to output deal: OPEC – Saudi, Iraq discuss stabilizing market

ABU DHABI, Aug 9, (Agencies): Global oil producers said Tuesday they remained committed to cutting output and stemming the collapse in oil prices, OPEC said. A technical panel including members of the Saudi-led cartel and other oil producers made the statement after a two-day session in Abu Dhabi. OPEC states …

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