Business

Experts ‘alarmed’ at firms’ pullout from Kuwait bourse – Trend seen to persist till year-end unless solutions are found: analysts

KUWAIT CITY, Aug 28, (KUNA): Recurring withdrawal of companies from Kuwait Stock Exchange (KSE) has become an alarming issue that requires remedies, particularly after six companies overall capital of which amounts to KD 125 million have declared taking such a move, according to analysts. The 2008 global economic crisis and …

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Oil demand seen easing to 1.2m bpd in 2017

On our estimates, global oil demand will end up increasing by about 3.0mn b/d between 2014 and 2016, well above the recent historical averages. Interestingly, both developed (DM) and emerging markets (EM) have contributed to the rebound in oil consumption, with DMs making up about 20% of the incremental barrels …

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Oil prices below $50 per barrel – pure speculation – Supply high but demand still weak

Oil prices will not improve or go above $50 per barrel if the basic fundamentals remain the same. Supply is high but demand is weak. Nothing is likely to change in the near future especially when OPEC is continuing to pump extra barrels every day into the already-saturated markets. Financial …

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Oil prices edge ‘higher’ but market remains weak – OPEC giants downplay output limits

NEW YORK, Aug 27, (AFP): Oil prices edged higher Friday but the market remained weak as OPEC’s key producers cast doubt on the possibility of cutting output. Iranian Oil Minister Bijan Zanganeh on Friday said his country wanted its pre-sanctions share of the crude market, in comments that suggested Tehran …

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Bourse ends in red for 2nd straight week

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,428.91 points, down by 0.79% from the week before closing, the Weighted Index decreased by 0.80% after closing at 348.37 points, whereas the KSX-15 Index closed at 808.96 points down by 0.89%. Furthermore, last …

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ANA cancels flights

Japanese airline All Nippon Airways has started grounding Boeing 787 “Dreamliner” flights after detecting problems with their Rolls-Royce engines. Nine domestic flights were canceled Friday, and others will be canceled through September. ANA says there will be no cancellations on international routes. The airline operates a fleet of 50 Dreamliner …

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Google Fiber ‘told’ to lay off half of its employees – Co eyes wireless technology

LOS ANGELES, Aug 26, (RTRS): Google’s internet access project may be getting too expensive for parent company Alphabet: Google Fiber is being told to reduce its workforce from 1000 to 500 employees, according to a report from The Information. This comes after reports that Fiber may be looking to cheaper …

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Kuwait’s inflation increases to 3.06 pct in July: data – Housing services jumps 7.33%, food and beverages up 0.46%

KUWAIT CITY, Aug 24, (KUNA): Inflation in consumer prices in the State of Kuwait rose to 3.06 percent in July, compared to the same month 2015, according to Kuwait central Statistic Bureau. The department said in its monthly report that the index figure for the month of July 2016 recorded …

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Kuwait bourse edges lower; volume tapers – Ooredoo jumps 20 fils; Burgan Bank slips

KUWAIT CITY, Aug 24: Kuwait stocks pulled back on Wednesday after edging higher in the last session. The bourse dropped 13.33 pts in lackluster trade to 5,435.53 pts as selling kicked in at select counters. The banks and other heavyweights were mostly subdued even as investors look for fresh cues. …

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KFAED signs $138m deal with Bahrain

The Kuwait Fund for Arab Economic Development (KFAED) signed Tuesday a $138 million agreement with the Bahraini government to fund development projects in the GCC country. Deputy Director General of KFAED Hamad Al-Omar, who signed the agreement with Bahrain Minister of Finance Sheikh Ahmad bin Mohammad Al-Khalifa, told KUNA that …

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