Tuesday , October 17 2017

Business

KIPCO posts KD 14.1 mln net profit for H1 2017 – ‘Core businesses delivering as projected’

KUWAIT CITY, July 27: KIPCO – the Kuwait Projects Company (Holding) – has announced a net profit of KD 14.1 million (US$ 46.5 million), or 7.76 fils per share (US$ 2.6 cents), for the first six months of 2017, compared to KD 28 million (US$ 92.4 million), or 18.30 fils …

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Kuwait gains in choppy trade; volume edges up – Mabanee Co rallies 14 fils; Zain flat

KUWAIT CITY, July 26: Kuwait stocks headed north on Wednesday extending its gains to fifth straight session buoyed by firming oil prices . The price index rose 13.23 points in choppy trade to 6,845.76 pts led by strong gains in select counters even as the heavyweights remained largely subdued. The …

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Makkah-Madinah rail to operate in Q1

JEDDAH, July 26, (KUNA): Saudi officials announced Tuesday that the USD multi-billion high-speed Al-Haramain rail would start operation in the first quarter of 2018. In statements to reporters following a trial journey on the train, Minister of Transport Suleiman Al-Hamdan and Head of Saudi Railways Organization Dr Rammah Al-Rammah said …

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Al Mazaya posts KD 4.17 mln net profit for H1; EPS 6.7 fils – Operating revenues surge 22% to KD 31.32 mn

KUWAIT CITY, July 24: Al Mazaya Holding has announced its financial statements for H1 2017, posting KWD 4.17 million in net profits, against KWD 4.14 million for the same period in 2016. Earnings per share reached 6.70 fils in 2017 against 6.66 fils for the corresponding period in 2016. Commenting …

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Kuwait bourse extends gains; volume rebounds – KFH rallies 13 fils; Americana flat

KUWAIT CITY, July 24: Kuwait stocks headed north on Monday extending the gains to second straight session. The price index climbed 22.51 pts in volatile trade to 6,822.18 points as investors chased some of the banking and financial shares. Other blue chips too closed mostly higher. The KSX 15 benchmark …

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KFH will benefit overall from merger with Ahli United Bank – Transaction to create 6th largest bank in GCC

Last Tuesday, Kuwait Finance House K.S.C.P. (KFH, A1 stable, ba11) disclosed that it is studying a merger with Bahrain-based Ahli United Bank B.S.C. (AUB, unrated). Although the merger would present significant integration challenges owing to the banks’ geographically dispersed asset bases, it would be credit positive for KFH. The merger …

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VIVA reports KD 19.5mn net profit for first half – Revenues reach KD 133mn during first six-month in 2017; customer base clocks 2.2 million

KUWAIT CITY, July 23: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced the financial results for the six-month period ended June 30, 2017; whereby VIVA’s net profit grew to reach KD 19.5  million recording a growth of 1% compared to the same period in 2016; whereas the revenues during …

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Kuwait stocks starts off week with modest gains – NBK climbs 8 fils; Ooredoo drops

KUWAIT CITY, July 23: Kuwait stocks swung higher on Sunday as it started off the week on a firm note. The main index climbed 18.65 pts in volatile session paced by banking majors and some of the mid-caps. Other heavyweights however closed mixed. The KSX 15 gauge edged 0.97 pts …

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Kuwaiti oil minister says further oil production cuts are possible – Energy markets need regulator in face of speculators: Eni CEO

ST PETERSBURG, Russia, July 23, (RTRS): Kuwait’s Oil Minister Essam Al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible. Asked about the possibility of further cuts to support the price of crude, the minister said: “Everything …

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