Wednesday , October 18 2017

Business

Zain Saudi continues to grow, records profitability for second straight quarter – Net profit reaches SAR 53 million for H1 2017

KUWAIT CITY, Riyadh, Aug 2: Zain Saudi Arabia (Zain KSA) reported its second consecutive quarterly net profit and its first ever, half year net profit for the period ending 30 June 2017. Data services growth leveraging the advanced 4.5G LTE network, prudent management of operational costs and the effect of …

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Kuwait bourse extends losses in volatile trade – Mabanee Co sheds 10 fils; KFH gains

KUWAIT CITY, Aug 2: Kuwait stocks headed south on Wednesday extending its losses to second straight session. The price index dipped 18.72 pts in volatile session to 6,823.95 points as selling continued to weigh on many counters and sentiment remained soggy amid pullback in oil prices. The KSX 15 gauge …

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BP sees oil prices below $55 in 2018 – Global demand to grow by 1.4-1.5 mln bpd

LONDON, Aug 1, (Agencies): BP expects global oil prices to hold within a range of $45-$55 a barrel next year as US shale production grows, the British company’s chief financial officer said on Tuesday. After a slow start to the year, global oil demand recovered in the second quarter of …

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Global reports KD 2.7 mn net profit for H1 – Total revenues reach KD 8.4 million

KUWAIT CITY, Aug 1: Global Investment House (“Global” or the “Company”), a regional asset management and investment banking firm headquartered in Kuwait, with offices in major capital markets in the MENA region, today announced its financial results for the first half ended 30 June 2017 reporting a net profit of …

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Kuwait stocks ‘kick off’ month on sluggish note – Ooredoo dips 31 fils; NBK gains

KUWAIT CITY, Aug 1: Kuwait stocks pulled lower on Tuesday as it kicked off the month on a tepid note. The price index dropped 8.95 points in choppy session to 6,842.67 pts weighed by selling in select counters even as the heavyweights closed narrowly mixed. The KSX 15 gauge edged …

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Kuwait index rebounds amid uptick in volume – NAPESCO soars 100 fils; Zain dips

KUWAIT CITY, July 31: Kuwait stocks rebounded on Monday, stemming the two-day pull back. The price index climbed 53.38 points in volatile trade to 6,851.62 points helped by renewed buying in select counters. The heavyweights however closed mostly in red. The KSX 15 gauge fell 5.77 pts to 943.17 points …

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OPEC oil output jumps to 2017 high – Survey cites further recovery in supply from Libya

LONDON, July 31, (RTRS): OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal. A dip in supply from Saudi Arabia …

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Consumer sector stabilizing following 2016 ‘slowdown’ – Confidence remains weak in 2017

The consumer sector is seen stabilizing so far in 2017, following significant moderation in the previous year. Despite robust household income and employment growth, most consumer indicators softened during 2016, including consumer confidence, which remained noticebly weak in 2017. However, growth in card spending has bounced back though it remains …

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KPC marketing on a new dangerous path – ‘Our oil should not be traded or gambled with’

The statement issued last week by Kuwait Petroleum Corporation (KPC) concerning establishment of a new marketing and trading company is the first step towards dealing directly with traders and becoming involved in open trading with the only source of our daily income. It is a complete deviation from our established …

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Wells in another scandal, this time in auto lending – Bank says scandal may have cost about 20,000 people their cars

NEW YORK, July 29, (AP): Scandal-plagued Wells Fargo is back in hot water for signing customers up for products that they didn’t need or want. This time it’s auto insurance, and the bank says it may have cost about 20,000 people their cars. San Francisco-based Wells Fargo acknowledged late Thursday …

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