Friday , December 15 2017

Business

KSE index rebounds amid bargain buying NBK jumps 20 fils; KIPCO flat

KUWAIT CITY, Jan 24: Kuwait headed north amid bargain buying on Sunday following sharp losses during last week. The bourse closed 28.62 pts higher at 4,974.95 after trading briefly above the 5,000 pts mark even as oil prices wound up the week with a sentiment boosting uptick. The KSX 15 …

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VIVA records KD 43 mln net profi t in 2015 – Total revenues reach KD 277 mln, a strong growth of 16% compared to 2014: CEO

KUWAIT CITY, Jan 24: VIVA, Kuwait’s fastestgrowing and most developed telecom operator, announced its financial results at the end of the 2015, with net profits of KD 43 million, a 6 percent increase compared to 2014. Dr Mahmoud Ahmad Abdul Rahman, VIVA’s Chairman, commenting on the financial results: “VIVA reached …

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Boubyan Bank logs KD 35.2 mln profit in 2015 – EPS clocks 17.09 fils; board recommends distribution of 5% of cash dividends, 5% in bonus shares

KUWAIT CITY, Jan 23: Boubyan Bank profits continues to grow in 2015 achieving  a growth rate of 25%. The bank’s net profits amounted to KD 35.2 Million compared to KD 28.2 Million in 2014, while the earning per share amounts to 17.09 fils compared to 13.70 fils for 2014. The …

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Kuwait crude oil industry should start cost cutting – Hard times yet to come; KPC must act

After our Amir initiated the cost cutting process in the Amiri Diwan and instructed the government to follow suit, it is time for our Kuwaiti oil industry to work on reducing the expenses of the biggest sector of the country by 10-15 percent immediately. It is the minimum that Kuwait …

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Kuwait indices hit significant low levels – Market cap loses around KD 1.56 bn during week

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 4,946.33 points, down by 6.07% from the week before closing, the Weighted Index decreased by 7.08% after closing at 330.24 points, whereas the KSX-15 Index closed at 767.74 points down by 7.32%. Furthermore, last …

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Saudis slam ‘irrational’ oil price – Crude hits new 12-year low under $27 on supply glut

LONDON, Jan 23, (AFP): The world’s biggest oil exporter Saudi Arabia declared this week that ultra-low oil prices were “irrational” as crude hit new 12-year lows under $27 on the global supply glut. The market’s dramatic slump culminated on Wednesday with New York crude collapsing to $26.19 per barrel – …

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Kuwait oil up

The price of Kuwaiti oil went up by 36 cents to settle at $19.50 per barrel compared to $19.14 pb last Wednesday, said Kuwait Petroleum Corporation (KPC) Friday. In the world market, the price of oil rose due to a surge of cold wave that hit the US and Europe, …

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Credit grows by 6.5 pct in Nov – Pvt deposits dips

KUWAIT CITY, Jan 22: Credit saw a healthy increase in November 2015, with growth slipping only slightly to 6.5% y/y. Total credit rose by KD 189 million during the month, a pace that was slightly ahead of the monthly average during the previous 12 months. Household borrowing remained robust, with …

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Low oil price chance for Gulf economic reforms: ministers – ‘We saw an opportunity to have people do the right thing’

DAVOS, Switzerland, Jan 22, (AFP): The sharp drop in the price of oil, the lifeblood of Gulf economies, is an opportunity to end subsidies and introduce reforms in the energy-rich region, ministers said Friday. “With low prices … it is the right time” to cut subsidies on oil products, Kuwait’s …

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Wal-Mart to give hike to most of its workers – Largest US private employer

NEW YORK, Jan 22, (AP): Wal-Mart is giving raises to the vast majority of its US employees as part of the world’s largest retailer’s previously announced investment in its workforce. The move comes as it seeks to hold onto workers in an increasingly competitive market. Wal-Mart Stores Inc on Wednesday …

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