Saturday , November 25 2017

Business

Need to cut dependence on oil – Kuwait’s govt sole source of income … is it sustainable?

For how long will Kuwait depend on oil as its only source of income? Is it sustainable on a long term basis, especially since we know well that oil prices are unlikely to go beyond $70 per barrel in the coming years? This is not only because of the arrival …

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India rushes to defend bank note ban as doubts grow – Critics say bold monetary experiment has failed

NEW DELHI, Aug 31, (RTRS): India’s government scrambled to defend its attempt to crack down on the shadow economy by banning high denomination banknotes, after data showed almost all of the abolished currency had made it back into the banking system. Prime Minister Narendra Modi personally led the shock move …

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Funds favour Kuwait before FTSE decision – Mideast managers bearish on Qatar

DUBAI, Aug 31, (RTRS): Middle East funds plan to move aggressively into Kuwaiti stocks as the market prices in expectations that index compiler FTSE will add the Gulf state to its secondary emerging market index, a monthly Reuters poll found. At the end of September, FTSE is to announce its …

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Kuwait equities extend losses in volatile trade – KIPCO dips 18 fils; Ooredoo jumps

KUWAIT CITY, Aug 30: Kuwait stocks  slipped further on Wednesday extending its losses to third consecutive session. The bourse fell 7.35 pts in volatile session to 6,892.1 points as investors exited positions ahead of the Eid holidays. The blue chips, led by banking shares, closed mostly in red. The KSX …

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‘Hurricane damage will linger’

OMAHA, Nebraska, Aug 30, (AP): Billionaire Warren Buffett says the storm damage in Texas is staggering, but he isn’t sure yet how much insurance companies will have to pay in claims. Buffett’s Berkshire Hathaway conglomerate owns Geico and several other insurers, so his company will be helping people rebuild. Buffett …

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Google & Apple face off over augmented reality – Next gen smartphone features

SAN FRANCISCO, Aug 30, (RTRS): Alphabet Inc’s Google on Wednesday unveiled tools to make augmented reality apps for mobile devices using the Android operating system, setting up its latest showdown with Apple Inc’s iPhone over next-generation smartphone features. Phone-based augmented reality (AR), in which digital objects are superimposed onto the …

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Burgan Bank dedicates six branches for special needs customers – Lender in full compliance with new banking guidelines set by CBK

KUWAIT CITY, Aug 28:  Burgan Bank, a dynamic and progressive financial institution with a firm customer-centric approach, is pleased to announce the activation of a comprehensive plan to accommodate the financial requirements of its special needs customers. Catering to all segments of society, Burgan Bank’s latest offerings ensure a banking …

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Kuwait bourse retreats into red; volume shrinks – Humansoft Holding tumbles 131 fils; Ooredoo gains

KUWAIT CITY, Aug 28: Kuwait stocks sagged on Monday slightly trimming last session’s gains. The bourse fell 5.37 pts in choppy session to 6908.9 points even as the overall sentiment remained cautious ahead of the Eid holidays. The KSX 15 benchmark rose 0.78 pts to 988.75 points while weighted index …

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Kuwait credit growth at 3.6% in June – Household lending flat; private deposits post moderate decline

KUWAIT CITY, Aug 28: Credit saw a healthy gain in June, though growth slowed to 3.6% year-on-year (y/y) on base effects. The month saw a net gain of KD 388 million in credit, helping push 1H17 growth to an annualized 7.3% (year-to-date). Securities lending was an important source of gains …

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Kuwait price index posts modest gains; volume up – Humansoft Holding soars 195 fils; Ooredoo dips

KUWAIT CITY, Aug 27: Kuwait stocks pulled higher on Sunday as it kicked off the week on cheery note. The price index climbed 29.1 points in volatile session to 6,914.27 points led by banking majors and some of the mid-caps. The KSX 15 benchmark rose 7.41 points to 987.97 pts …

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