Tuesday , December 12 2017

Business

Huawei, KDIPA launch ICT Skill Competition – Kuwait university students registered

KUWAIT CITY, Oct 7: Huawei Technologies Kuwait, a leading global Information and Communication Technology solutions provider, launched on Thursday at the Huawei headquarters at Al Hamra Tower the local edition of its global ICT Skill Competition 2017, in a strategic partnership with Kuwait Direct Promotion Investment Authority (KDIPA). The ICT …

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China ‘teapots’: The new importers of oil – ‘Price of the barrel will depend on future growth and demand for oil’

They appeared in Singapore two weeks ago to contract and attempt to buy 2.5 million barrels per day, which is the official quota of oil imports granted to them by the government. Teapots are the new oil traders that are trying to find a place in the Chinese oil market …

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Boursa ends with mixed performance – Market cap gains reach KD 400 mln during week

Boursa Kuwait ended last week with mixed performance. The Price Index closed at 6,662.11 points, down by 0.26% from the week before closing, the Weighted Index increased by 1.76% after closing at 438.29 points, whereas the KSX-15 Index closed at 1,028.73 points up by 3.14%. Furthermore, last week’s average daily …

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Kuwait oil revenues to hit KD 12.3bn for FY17/18 – Balance of total public debt instruments rises KD 150mn to reach KD 3.967bn by end of June 2017

Oil and Public Finance – September 2017 By the end of September 2017, the first half of the current fiscal year 2017/2018 ended and the average Kuwaiti oil price for September scored US$ 52.3 per barrel, up by US$ 3.8 per barrel, 7.8%, from August’s average price of US$ 48.5 …

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Indian yields jump to ‘highest’ after Reserve Bank holds rates – Rand leads emerging market currencies

LONDON, Oct 5, (RTRS): Emerging currencies broadly weakened on Thursday, with South Africa’s rand down 0.3 percent against a marginally firmer dollar, after a stark warning from the central bank over the government’s failure to tackle corruption. Earlier, Indian yields jumped to the highest since June after the central bank …

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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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